Tokyo Dome Transforms into an 'Urban Entertainment Hub'

【Tokyo=Kim Kyung-min Correspondent】 Tokyo Dome is hastening its transformation into an 'urban entertainment hub.' Marking the 5th year since its integration into the Mitsui Fudosan Group, a large-scale renewal costing 30 billion yen (approximately 283 billion KRW) has led to a rapid rebound from the COVID-19 crisis, achieving record profits. The plan is to develop this complex space, which combines baseball, performances, shopping, and leisure, into a future growth hub.
According to the industry on the 11th, Tokyo Dome once lost its competitiveness due to outdated facilities and lack of investment, despite its excellent location and brand recognition. In 2020, a Hong Kong-based activist fund criticized it for 'letting a treasure rot,' but the situation changed when Mitsui Fudosan acquired it for about 120 billion yen in 2021. Currently, Mitsui Fudosan holds 80% of the shares, with the Yomiuri Shimbun Group holding 20%.
Yoshiki Kitahara, who became CEO in 2022, has set the vision of a 'unique global entertainment city' and accelerated investments. The stadium has introduced a cashless payment and ticketless system, added Japan's largest main vision at 126 meters wide, and integrated lighting and sound effects. Additionally, various content such as a new theater, virtual reality (VR) experience facilities, private sauna, and upscale food court have been expanded.
Mitsui Fudosan's commercial and sports development know-how has also been incorporated. Utilizing a network of over 2500 partners, stores have been attracted, and large stairs connecting the dome and amusement facilities, as well as a grass plaza to increase stay time, have been established.
For the fiscal year ending March 2025 (April 2024 to March 2025), revenue is expected to increase by 14% year-on-year to 57.7 billion yen, with net profit rising by 2% to 8.9 billion yen, marking a record high. CEO Kitahara is actively recruiting external entertainment talent, conveying the message to 'swing full even if you strike out,' and is pursuing global collaboration and new business exploration.
The core strategy is digital transformation (DX). Services and products will be offered in the metaverse space to secure global customers, and a platform enabling remote viewing of Korakuen Hall matches and product purchases is being developed. Since 2023, the 'enXross' Web3/XR technology idea competition has been operated, and in November, a DX-related company-exclusive co-working space will be opened for use as a demonstration hub.
However, the dome stadium, which is nearly 40 years old, and the Korakuen Hall building, over 60 years old, inevitably require renovation or reconstruction. CEO Kitahara stated, "We are only at the starting point of our future vision," expressing a commitment to long-term investment.

km@fnnews.com Kim Kyung-min Reporter