Yokohama Mayor pushes for IR development

Mayor Fumiko Hayashi has voiced she feels a “sense of crisis” and is pushing for Yokohama’s IR bid to go forward.

Japan.- Japan has drawn major interest from international operators, even as its future was uncertain. However, after Yokohama decided to go after an IR bid, many parties have already set their course for the city.

Mayor Fumiko Hayashi, who had said she was a “blank slate” on a potential IR, has changed her mind. Not only she favours a bid, but she says she feels “a sense of crisis” for its development.

“I’ve decided upon an IR bid due to my sense of crisis about Yokohama’s future,” she said on Tuesday. “It’s a big national project which could become a driving force for tourism and the regional economy in Yokohama.”

The revised budget submitted to the city council includes a €2.22 million provision for IR expenses.

Melco’s recent announcement

Melco will push for a Yokohama IR and will open an office in the city to do so.

Melco International Development announced what would be its third office in the country. As it has already landed in Osaka and Tokyo, the company has aimed at Yokohama as well.

“Japan continues to be the group’s core focus,” Melco International said in a filing to the Hong Kong Stock Exchange. “With offices in Tokyo and Osaka and an upcoming one in Yokohama along with a local [Japan] leadership team, the group is now fully engaged to explore local partnerships and to further build up our local presence,” it added.