ITOCHU Corporation announced that it has signed an agreement with Kyoto prefecture, together with constituent companies, on a project for the development and operation of Kyoto Arena.

This project is a Design, Build, Finance, Operate (DBFO) PPP project to develop indoor sports facilities that meet the standards for holding international and national competitions, which Kyoto prefecture has been lacking. The arena to be renovated by this project is scheduled to be used as the home arena for the B.League basketball team Kyoto Hannaryz. The facility will be capable of hosting both sports and cultural events, and will also engage in collaboration with a velodrome (bicycle racing track) that is scheduled to be redeveloped on adjacent land, stimulating the liveliness of the entire site area. It will also provide disaster readiness functionality, as an evacuation center in the event of a disaster, allowing it to be used safely and with peace of mind, by users and residents alike. 

The project involves a consortium including ITOCHU Corporation, Azusa Sekkei, OBAYASHI CORPORATION, DENTSU INC., HARIMA B.STEM, KYOEI BUILD. KANRI, ITOCHU Urban Community, SHINKO SPORTS, NTT TC Leasing, and Kyogin Lease, with an estimated cost of JPY 34.8 billion (US$ 234 million) for facility development, maintenance, and management.