# H2O Retailing Corporation

H2O Retailing Corporation is a Corporate Investor based in Osaka, Japan.

## Overview

- **Organization type:** Corporate Investor
- **Headquarters:** Osaka, Japan
- **Region:** Asia
- **Address:** 8-7 Kakuda-cho Kita-ku, Osaka-shi, Osaka, Japan
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** www.h2o-retailing.co.jp

## Regulatory record

- **Reports private funds:** No

## About

H2O Retailing Corporation was established in 2007 as the holding company for Hankyu Hanshin Department Stores and related retail operations. Naoya Araki serves as president. The underlying business originated from the Hankyu Hanshin retail network rather than a single family fortune. The firm owns and operates department stores, supermarkets, and shopping centers across Japan and maintains one full-scale luxury store in Ningbo, China. Asset classes include direct commercial real estate, listed equity positions, and operating subsidiaries. Confirmed holdings comprise Hankyu Hanshin Department Stores, Kansai Food Market, Persona, Oi Development, and a 4.19 percent stake in Toho reduced after a 2025 tender offer. Geographic reach centers on the Kansai region with additional sites in Tokyo and Zhejiang Province. H2O maintains the H2O Santa Foundation established in 2015 for child-support programs and NPO sponsorship. The group employs staff across its retail and property entities. April 2025 sponsorship of Expo 2025 Osaka included digital-wallet and co-design initiatives. Ownership structure ties H2O to Hankyu Hanshin Holdings as an 18.89 percent shareholder and core member of the Hankyu Hanshin Toho Group, creating a closed loop of cross-shareholdings and operating-company control that distinguishes it from independent family offices or external asset managers.

## Sectors

- Retail
- Real Estate

## People

- Naoya Araki — President and Representative Director

## Questions

### Who runs investment decisions at H2O Retailing Corporation?

Naoya Araki, President and Representative Director, oversees the corporate investment posture alongside retail operations.

### Does H2O Retailing Corporation participate in fund commitments or only direct deals?

The firm executes direct ownership of properties and listed equity positions rather than external fund commitments.

### What is H2O Retailing Corporation's known posture on co-investments alongside external GPs?

No external GP co-investment activity is recorded; holdings remain within the Hankyu Hanshin Toho Group and direct subsidiaries.

### How is H2O Retailing Corporation related to Hankyu Hanshin Holdings?

Hankyu Hanshin Holdings holds an 18.89 percent stake and shares membership in the Hankyu Hanshin Toho Group.

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- [Leon Levy Foundation](https://altss.com/profile/leon-levy-foundation)
- [Evergreen Advisors](https://altss.com/profile/evergreen-advisors-llc)

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Last updated: 2026-06-03T20:00:00.000Z

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