Sumitomo Corporation signed a trust beneficiary interest purchase and sale agreement to acquire the MOMO commercial facility (32 Yamanoshita, Momoyama-cho, Fushimi-ku, Kyoto City, Kyoto Prefecture) located near Rokujizo Station in Fushimi Ward, Kyoto City, Kyoto Prefecture, in October. The facility will continue to operate under the management of Sumisho Urban Kaihatsu Co., Ltd., and will undergo a large-scale, phased renovation toward early summer 2015.

This large-scale renovation will utilize the expertise Sumitomo Corporation and Sumisho Urban Kaihatsu Co., Ltd. (hereinafter, the "Sumitomo Corporation Group") have cultivated through the development and operation of station-front commercial facilities and large-scale regional shopping centers such as Terrace Mall Shonan. The Sumitomo Corporation Group believes that commercial facilities should be "hubs of life that support and nurture people's lives," and will implement a "town-development-style commercial development" that will expand the food zone by introducing a large supermarket and strengthening the food court, and incorporate urban lifestyle services.

The facility will be renamed "MOMO Terrace" upon its grand opening in early summer 2015. While retaining the beloved "Momo" name, the new facility will add the "terrace philosophy" symbolized by a comfortable terrace space that makes customers want to return again and again. By improving the environment both inside and outside the facility and expanding the customer base to families and young people, the facility aims to revitalize and develop into the number one commercial facility in the area and revitalize the entire region.

Momo opened in 1996 as the Momoyama branch of Kintetsu Department Store. In addition to large shops such as "UNIQLO" and "MUJI," specialty stores, and a food court, it also has facilities such as an indoor playground and cultural classes.