Tokyo -- (JCN Newswire) --

Local hotelier, Kairakuso, Ltd opens a new hotel in Ofunato, Iwate Prefecture on July 31. The opening of the hotel, Ofunato Onsen, is being made possible through a contribution of 50 million yen in loan funds from the Mitsubishi Corporation Disaster Relief Foundation (MCDRF). These funds complement support already being provided by The Bank of Iwate, a local financial institution.

At a mere three minutes' drive from the Sanriku Expressway's Goishi Coast Interchange, Ofunato Onsen Hotel offers a panoramic view of the Pacific Ocean. The hotel's natural hot springs, or onsen, are said to be good for neuralgia, arthritis and chronic gynecological conditions. Beyond the therapeutic value of the onsen's waters, dynamic dishes made from fresh seafood caught by the hotel owner himself, who has a commercial fishing license, is also a special feature of Ofunato Onsen. In addition, the new hotel is adopting a firewood boiler system, which makes use of locally produced wood, thereby contributing to the local forestry industry. The opening of Ofunato Onsen also creates some 30 jobs and is expected to have a ripple effect on the local economy. Aiming to host 50 thousand guests annually, the hotel also doubles as a relaxation space for local residents as well as a hub for the region's tourist industry.

MCDRF's support to Ofunato Onsen was decided on the basis of its potential to create employment and because of the contribution it will make to reviving the local economy. Three years and four months have passed since the Great East Japan Earthquake, but recovery efforts are still underway in areas that suffered severe damage. MCDRF will continue to collaborate with local financial institutions such as The Bank of Iwate to support efforts aimed at the revitalization of industry and employment creation, and overall economic recovery in areas affected by the disaster.

Reference Information

Ofunato Onsen Hotel

Address:29-1, Ofunato-cho Aza Marumori, Ofunato, Iwate

Access:3 minutes by car from Sanriku Expressway's Goishi Coast Interchange

Tel:(+81) 0192－26－1717

No.of Rooms:

69 (plus 4 banquet halls)

2nd floor, 10 rooms

3rd floor, 20 rooms

4th floor, 20 rooms

5th floor, 19 rooms

No. of Guests: 230

Room Rate:7,500 yen (plus tax) per night with two meals

Other:

94 parking spaces (including 10 for buses)

2 natural hot spring public baths;

2 open-air baths; 2 medicinal baths

Kairakuso, Ltd

1. Headquarters: 221-2, Suezaki-cho Aza Ohama, Ofunato, Iwate
2. Date Established:May 2012
3. Capital:75 million yen
4. Business Activities:Management of hotels; seaweed sales
5. Representative: Yutaka Shida, Representative Director

The Bank of Iwate, Limited

1. Headquarters:1-2-3 Chuo-dori, Morioka-shi, Iwate, Japan
2. Date Established:May 2, 1932
3. Capital:12 billion yen
4. Business Activities:Banking and other services
5. Representative:Yukio Taguchi, President and Representative Director

Mitsubishi Corporation Disaster Relief Foundation

1. Headquarters: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo
2. Date Founded: March, 2012 (became a foundation May 2012)
3. Endowment: 6 billion yen
4. Purpose: To contribute to the recovery of regions affected by the Great
East Japan Earthquake through the provision of scholarships and grants for NPOs and social welfare corporations, as well as for recovery of industry and job creation.
5. Representatives:
- Chairman, Ken Kobayashi (President and CEO, Mitsubishi Corporation)
- Deputy Chairman, Yasuhito Hirota (Senior Executive Vice President, Mitsubishi Corporation
- Executive Director, Yoshiyuki Nojima (General Manager, CSR and Environmental Affairs Department, Mitsubishi Corporation)

About Mitsubishi Corporation

<BR /><BR />Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.

Contact:

Mitsubishi Corporation
Telephone:+81 3 3210 2171 
Facsimile:+81 3 5252 7705