Press Release

                                                                                                                                    

Joint Release

Mitsubishi Estate Co., Ltd., Japan Airlines Co., Ltd., and Kanematsu Corporation submitted a proposal for
public offering (Note 1) of “Project for the Social Implementation of Advanced Air Mobility-based Services” by
the Tokyo Metropolitan Government (project promoter: Mitsubishi Research Institute, Inc.), which has been
selected.

The purpose of the project, from FY2022 to FY2024, is to explore a variety of business models based on
Advanced Air Mobility (AAM) in the metropolitan area, including transportation services connecting central
Tokyo’s major hubs (urban access), Airport access, transportation services/scenic flights in isolated island
areas, and to examine aspects such as operational issues/profitability through demonstration operation of
helicopters in FY2023 and electric Vertical Take-Off and Landing aircrafts (eVTOL) in FY2024. 

AAM is expected to help solve a range of social issues by eliminating urban congestion, providing means of
transport in regions with underdeveloped transportation infrastructure, using in times of disaster, and also
creating new value through reducing travel time and providing private, luxurious mobility experiences.
In Japan, the public and private sectors are currently working together in the Public-Private Committee for
Advanced Air Mobility with the aim of achieving commercial operation and social implementation from around
2025.
3 parties will study the implementation of AAM in Tokyo through this project and aim to contribute to resolution
of social issues of Tokyo and Japan, and creation of new value.

Note 1: Project for the Social Implementation of Advanced Air Mobility-based Services in Tokyo
https://www.tokyo.lg.jp/tosei/hodohappyo/2022/05/19/02.html

1. Project Overview
FY2022: Identify issues and solutions associated with the implementation of AAM. Conduct surveys and
examine business models, etc.
- Identify issues associated with construction, necessary conditions, and operation of vertiports that enable high-density, high-frequency AAM services in Tokyo which is overcrowded with buildings.
- Estimate sales and operational costs of expected routes, potential route for future expansion, and other
matters. Review aspects such as market size and business durability in Tokyo.

FY2023: Launch demonstration operation of intracity access and scenic flights with a helicopter
- Study and build two heliports in facilities owned or managed by Mitsubishi Estate Co., Ltd among others, and offer scenic flights at the respective heliports and transportation/chartered services connecting the two
heliports.
- Conduct feasibility study of business case of futuristic transportation service with eVTOL.

FY2024: Launch demonstration operation of eVTOL
- Expand the heliports operated in FY2023, consider construction of vertiports with the cooperation of Skyports, a UK company that builds and operates vertiports globally. Also, review eVTOL flight demonstrations and on-ground operations (e.g., takeoff/landing control and simulation, check-in and security checks, safety management and situational awareness of surrounding areas) conducted at the vertiport.

2. Roles of Participating Companies