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Measures Designed to Facilitate Housing Reconstruction

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Support for Public Housing Construction in Sendai City

Overcoming Challenges to Obtain Residential Land

Many houses in the disaster–stricken areas were destroyed, and many people in the region are still being forced to live in temporary housing. To provide these people with new dwellings, each local government is moving ahead with plans for constructing public housing facilities.

The biggest challenge on the path toward implementing those plans is the difficulty of obtaining residential land. In coastal areas devastated by the tsunami, the amount of land suitable for housing was originally small, and it has become difficult to obtain additional residential land.

Moreover, local governments in the disaster–stricken areas are suffering from severe personnel shortages, and the civil engineering and construction companies tasked with the job of preparing land and constructing housing are suffering from chronic insufficiencies of necessary resources.

Confronting this situation, Mizuho is leveraging the overall strengths of the Group as it seeks to find ways in which it can contribute to promoting "housing reconstruction." For example, Mizuho is considering initiatives through the use of diverse financing functions, including those involving public–private partnerships, through the use of consulting functions, and through the proposal of new kinds of schemes that involve trust banking functions.

Support for the Public Housing–Use Land Readjustment Project in Sendai

Sendai City is planning to create 3,000 units of public housing for the victims of the disaster, but it required time to overcome challenges related to a shortage of land and other factors, and this had continued to delay the start of construction. Against this backdrop, MHBK learned that financing support was needed for the Arai–Nishi Area Land Readjustment Project (hereinafter, the Project) in Wakabayashi Ward and began considering how it could provide the requisite support for the Project and thereby promote "housing reconstruction" in the disaster–stricken areas.

The Project calls for constructing approximately 750 housing units and 66,000 square meters of commercial zone space on roughly 46.8 hectares of land, and it will entail the provision of a large–scale financing package worth approximately JPY 10 billion to the related land adjustment association. While these characteristics make the Project highly difficult to execute, MHBK recognized that the Project is an extremely significant step toward providing disaster victims with housing. Accordingly, MHBK began providing support by collaborating with the construction company commissioned to act at the overall project representative and with the 77 Bank, Ltd., to implement the first round of financing for the Project in January 2013.

The groundbreaking ceremony for the Project was conducted in June 2013, and plans call for progressively preparing and selling residential land lots during the period from fiscal 2014 through fiscal 2018. MHBK will take measures to sustain its support for this project going forward.

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