Honolulu Advertiser: 'Hitachi tree' bringing owner $4 million
Money may not grow on trees, but there's a monkeypod on O'ahu that's earning $4 million for its owner. Hitachi Ltd., the Japanese electronics giant, has agreed to pay the new owner of the Moanalua Gardens $400,000 a year for 10 years to use the garden's famous monkeypod tree in its advertising. The so-called "Hitachi tree" is one of the most recognizable corporate icons in Japan. "Everyone in Japan knows this tree," said Kaeta Yoshida, a 20-year-old Tokyo resident who was part of a tour group taking pictures under the tree yesterday. Hitachi...has used the century-old tree as a corporate symbol since 1973. Hitachi previously paid $20,000 a year to use the monkeypod tree in its advertising...While Hitachi is paying a generous fee for use of the tree, the money covers just a portion of Moanalua Gardens' annual operating expenses. The cost to maintain, insure and staff the gardens is about $600,000 a year. To make up for the shortfall, Kaimana Ventures may rent out portions of the park for special events and weddings for Japanese tourists...more...
