■May 10, 2017

MITSUBISHI ESTATE CO., LTD.

FACT BOOK 2017/3

Inquiries: Investor Relations Office
Mr. Kagamoto, Ms. Radcliffe
TEL: +81-3-3287-5207
FAX: +81-3-3212-3757
http://www.mec.co.jp/e/investor/index.html

Contents
Page/sI. Performance Comparisons (Consolidated)

II. Highlights

III. Summary of Consolidated Financial Statements

Ⅳ．Mitsubishi Estate Group Companies' Data

Ⅴ．Principal Projects(building)

1. Income Statement Results for 2017/3 and 2016/3
2. Income Statement Results for 2017/3 and Previous Estimates (announced on February 6, 2017) for 2017/3
3. Income Statement Estimates for 2018/3 and Results for 2017/3
4. Balance Sheet Results at Periods Ended 2017/3 and 2016/3
1. Major Performance Items (Consolidated)
2. Segment Information (Consolidated)
3. Building Business Revenue from Operations Breakdown (Consolidated)
4. Building Business Data (Consolidated)
5. Building Business Data (Unconsolidated)
6. Marunouchi Area Building Data (Unconsolidated)
7. Lifestyle Property Business Data (Consolidated)
8. Condominium Business Data
9. Total Assets of Major Overseas Subsidiaries
10. International Business (Rockefeller Group, Inc.)
11. Special Purpose Vehicle Data
1. Consolidated Balance Sheets
2. Consolidated Income Statements
3. Consolidated Cash Flow Statements
4. Total Assets, Capital Investment and Depreciation (Consolidated)
5. Interest-Bearing Debt (Consolidated)
6. Major Consolidated Subsidiaries
1. Mitsubishi Estate Co., Ltd.
9. Mitsubishi Jisho Community Co., Ltd.
2. Mitsubishi Jisho Property Management Co., Ltd.
10. Rockefeller Group, Inc.
3. Marunouchi Heat Supply Co., Ltd.
11. Mitsubishi Estate Europe Limited
4. Sunshine City Corporation
12. Mitsubishi Jisho Sekkei Inc.
13. Royal Park Hotels & Resorts Co., Ltd.
5. Mitsubishi Estate・Simon Co., Ltd.
6. Tokyo Ryutsu Center
14. Royal Park Hotel Co., Ltd.
7. Mitsubishi Jisho Residence Co., Ltd.
15. Mitsubishi Real Estate Services Co., Ltd.
8. Mitsubishi Estate Home Co., Ltd.
1. Building Business
2. Lifestyle Property Business
3. Residential Business4. International Business

3
4
5
6
7
8,9
10
10
10
10
11
11
11
11
12
13 , 14
15
16
17
17
18
19~33

34~36
37~38
39
40 , 41

Disclaimer
This FACT BOOK contains predictions and aims which relate to, without limitation, our future economic performance, our plansand objectives for future operations and projections of revenue and other financial items.
These predictions are inherently subject to risks and uncertainties, due to unforeseeable events or external factors.
Future events and actual results, financial and otherwise, may differ materially from the events and results expressed here.

2

I. Performance Comparisons (Consolidated)
1. Income Statement Results for 2017/3 and 2016/3
Millions of yen (rounded down)

2017/3Results

2016/3Results

Millions of yen (rounded down)

Change■Breakdown of Extraordinary income

2017/3Results

2016/3Results

ChangeBuilding Business

484,238

422,349

61,888Gain on sales of fixed assets

-

2,709

(2,709)Lifestyle Property Business

88,95586,5692,386

Gain on sales of investment securities

1,013

11,350(10,337)

Residential Business

407,850

345,226

62,624Gain on negative goodwill

13,505-

13,505International Business

66,55675,956(9,399)

Reversal of accrued payment

-

4,098

(4,098)Investment Management

21,32324,994(3,671)

Reversal of allowance for loss on obligations of additional investments

-

1,262

(1,262)

Architectural Design & Engineering

19,30921,279(1,970)

Settlement received

1,966

-

1,966

Hotel Business

33,512

33,089422

Total

16,484

19,421(2,937)

Real Estate Services

24,243

19,815

4,427

Other

4,237

3,882

355

(24,820)(23,754)(1,066)

Eliminations
Revenue from Operations

1,125,405

1,009,408

115,997

Building Business

133,570

108,940

24,629Lifestyle Property Business

25,807

25,842(35)

Residential Business

19,25318,035

1,218

Loss related to retirement of fixed assets

4,762

4,223

539

International Business

26,313

19,421

6,892

Impairment loss

12,260

2,561

9,698

Investment Management

4,520

5,082

(561)

Provision for environmental measures

-

5,068

(5,068)Architectural Design & Engineering

445

1,754

(1,309)-10,570(10,570)

Hotel Business

1,932

1,490

442

Provision for loss on business transfer
Loss on step acquisitions

6,431

-

6,431

Real Estate Services

2,157

602

1,554

Total

23,45522,423

1,031

Other

289

(37)

326

Eliminations or Corporate(21,793)(14,933)(6,859)192,495

166,199

26,296

Non-operating revenue

9,380

10,949(1,569)Non-operating expense

32,02432,296(272)

169,851

144,851

25,000Extraordinary income

16,484

19,421(2,937)Extraordinary loss

23,45522,423

1,031

162,881

141,850

21,031

Operating Income

Income Before Taxes and Special Items

Income Before Income Taxes and Minority Interests
Corporate tax, etc.

ProfitProfit attributable to non-controlling interests
Profit Attributable to Owners of Parent

46,073

43,571

2,501

116,808

98,27818,52914,126

14,851(724)

102,681

83,426

19,254

Millions of yen (rounded down)■Breakdown of Extraordinary loss3

2017/3Results

2016/3Results

Change2. Income Statement Results for 2017/3 and Previous Estimates (announced on February 6, 2017) for 2017/3
Millions of yen (rounded down)

2017/3Results

2017/3
Previous
Estimates

Building Business

484,238

481,000

3,238

Lifestyle Property Business

88,95589,000(45)

Residential Business

407,850

414,000

International Business

66,55665,000■Breakdown of Extraordinary income

2017/3Results

2017/3
Previous
Estimates

ChangeGain on sales of investment securities

1,013

4,000

(2,987)

Gain on negative goodwill

13,50513,000505(6,150)

Settlement received

1,966

2,000

(34)

1,556

Total

16,48419,000(2,516)

Investment Management

21,32321,000323

Architectural Design & Engineering

19,30919,000309

Hotel Business

33,512

34,000(488)

Real Estate Services

24,24324,000

243

Other

4,237

4,000

237
1,180

Eliminations

Millions of yen (rounded down)

Change(24,820)(26,000)

1,125,405

1,125,000

405

Building Business

133,570

128,000

5,570

Lifestyle Property Business

25,80725,000807

Residential Business

19,25322,000(2,747)

Loss related to retirement of fixed assets

4,762

2017/3
Previous
Estimates
9,000

International Business

26,31324,0002,313

Impairment loss

12,2601,000

Investment Management

4,520

4,000

520

Loss on step acquisitions

6,431

6,000

431

Architectural Design & Engineering

445

500

(55)

Total

23,45516,0007,455

Hotel Business

1,932

2,000

(68)

Real Estate Services

2,157

1,500

657
289

Revenue from Operations

Other

289

0

(21,793)(22,000)

207

192,495

185,000

7,495

Non-operating revenue

9,380

10,000(620)

Non-operating expense

32,02433,000(976)

169,851

162,000

7,851

Extraordinary income

16,48419,000(2,516)Extraordinary loss

23,45516,0007,455

162,881

165,000(2,119)Eliminations or Corporate
Operating Income

Income Before Taxes and Special Items

Income Before Income Taxes and Minority Interests
Corporate tax, etc.

ProfitProfit attributable to non-controlling interests
Profit Attributable to Owners of Parent

46,07356,000(9,927)

116,808

109,000

7,808

14,126

14,000126

102,681

95,000

7,681

Millions of yen (rounded down)■Breakdown of Extraordinary loss

4

2017/3Results

Change(4,238)
11,2603. Income Statement Estimates for 2018/3 and Results for 2017/3
Millions of yen (rounded down)

2018/3
Estimates

2017/3Results

Millions of yen (rounded down)

Change■Breakdown of Extraordinary income

2018/3
Estimates

2017/3Results

ChangeBuilding Business

497,000

484,238

12,762Gain on sales of fixed assets

6,000

-

Lifestyle Property Business

105,000

88,955

16,045Gain on sales of investment securities

2,000

1,013

987

Residential Business

423,000

407,850

15,150Gain on negative goodwill-

13,505(13,505)(1,966)

International Business

95,00066,55628,444

Settlement received

Investment Management

20,00021,323(1,323)

Architectural Design & Engineering

19,00019,309(309)

Other Extraordinary income
Total

Hotel Business

34,00033,512

488

Real Estate Services

25,00024,243

757

Other

4,000

4,237

(237)

Eliminations(22,000)(24,820)2,820

1,200,000

1,125,405

74,595

Building Business

140,000

133,570

6,430

Lifestyle Property Business

26,00025,807

193

Residential Business

20,00019,253747

International Business

23,00026,313(3,313)

Impairment loss

Investment Management

3,000

4,520

(1,520)Loss on step acquisitions

Architectural Design & Engineering

500

445

55

Hotel Business

1,500

1,932

(432)

Real Estate Services

1,500

2,157

(657)

0

289

(289)

(20,500)(21,793)

1,293

195,000

192,495

2,505

8,000

9,380

(1,380)

Revenue from Operations

Other
Eliminations or Corporate
Operating Income
Non-operating revenue
Non-operating expense

32,00032,024(24)

171,000

169,851

1,149

Extraordinary income

9,000

16,484(7,484)Extraordinary loss

5,000

23,455(18,455)

175,000

162,881

12,11953,00046,073

6,927

122,000

116,808

5,192

Income Before Taxes and Special Items

Income Before Income Taxes and Minority Interests
Corporate tax, etc.

ProfitProfit attributable to non-controlling interests
Profit Attributable to Owners of Parent

14,00014,126(126)

108,000

102,681

5,319

6,000

-

1,966

1,000

-

1,000

9,000

16,484(7,484)

Millions of yen (rounded down)■Breakdown of Extraordinary loss
Loss related to retirement of fixed assets

Total

5

2018/3
Estimates

2017/3Results

Change

5,000

4,762

238

-

12,260(12,260)-

6,431(6,431)

5,000

23,455(18,455)

4. Balance Sheet Results at Periods Ended 2017/3 and 2016/3
Millions of yen (rounded down)

At Mar 31, 2017 At Mar 31, 2016
AssetsI. Current assets
1. Cash2. Notes and accounts receivable-trade
3. Marketable securities
4. Property for sale
5. Property for sale in progress
6. Property for development
7. Appropriated construction in progress
8. Other inventories
9. Equity investments
10. Deferred tax assets
11. Other current assets
12. Allowance for doubtful accounts
Total current assets
II. Fixed assets
1. Property and equipment(1) Buildings and structures(2) Machinery and equipment(3) Land(4) Land in trust(5) Construction in progress(6) Other property and equipment
Total property and equipment
2. Intangible assets(1) Leaseholds(2) Other intangible assets
Total intangible assets
3. Investments and other assets(1) Investment securities(2) Long-term loans(3) Lease deposits(4) Net defined benefit asset(5) Deferred tax assets(6) Other investments(7) Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

Millions of yen (rounded down)

Change243,681
43,823
13,51560,195337,928
1,058
8,091
1,021
292,764
10,73069,152(270)
1,081,690

412,983
35,261
14
54,827366,354
8,905
7,942
1,014
276,842
14,552
55,764(528)
1,233,935(169,302)
8,561
13,5005,368(28,426)(7,847)149
615,922(3,822)
13,387257(152,244)

1,032,286
21,722
1,987,344
708,801
92,367
14,2333,856,757

886,494
21,9391,955,451
549,811
122,261
15,1053,551,062

145,792(216)
31,893
158,990(29,893)(872)
305,694

73,81625,72599,54275,49432,289107,784(1,677)(6,564)(8,241)

244,870
1,389
106,1499,487
11,08274,786(1,642)446,125
4,402,424
5,484,115

216,334
1,406
115,3829,810
16,17061,578(1,623)419,058
4,077,904
5,311,840

28,536(16)(9,232)(322)(5,087)
13,208(18)
27,066
324,519
172,275

At Mar 31, 2017 At Mar 31, 2016
Liabilities
I. Current liabilities
1. Notes and accounts payable-trade
2. Short-term borrowings
3. Current portion of long-term debt
4. Bonds due within one year
5. Accrued income taxes
6. Deferred tax liability
7. Allowance for loss on business transfer
8. Other current liabilities
Total current liabilities
II. Long-term liabilities
1. Bonds
2. Long-term borrowings
3. Lease deposits received
4. Deferred tax liability
5. Deferred tax liabilities on land revaluation
6. Net defined benefit liability
7. Accrued directors' retirement benefits
8. Provision for environmental measures
9. Negative goodwill
10. Other long-term liabilities
Total long-term liabilities
Total liabilities
Net Assets
I. Shareholders' Equity
1. Capital
2. Capital surplus
3. Retained earnings
4. Less treasury stock, at cost
Total shareholders' equity
II. Other accumulated comprehensive income
1. Unrealized holding gain on securities
2. Deferred gains or losses on hedging instruments
3. Land revaluation reserve
4. Foreign currency translation adjustments
5. Remeasurements of defined benefit plans
Total other accumulated comprehensive income
III. Stock acquisition rights
IV. Non-controlling interests
Total net assets
Total liabilities and net assets

6

Change56,09986,415
149,281
85,075
16,471
572
192,708
586,623

58,331
103,125
163,651
78,02322,903
10,570234,271
670,877(2,231)(16,709)(14,370)
7,051(6,431)
572(10,570)(41,563)(84,254)

777,712
1,292,854
398,014217,565
263,661
22,042834
4,831
90,53561,9783,130,031
3,716,654

825,000
1,114,426
393,309180,205
265,91232,464685
5,068
83,82780,882
2,981,782
3,652,660(47,287)
178,428
4,704
37,359(2,250)(10,421)
148
(236)
6,707
(18,903)148,248
63,994

141,659
161,477
674,259(5,489)971,906

141,373
161,188
600,116(5,385)897,293285
288
74,143(104)
74,613

109,64473
527,128(13,363)(2,612)620,870529
174,154
1,767,460
5,484,115

89,945(30)
521,248
13,900(12,676)
612,387529
148,970
1,659,180
5,311,840

19,698104
5,879(27,263)
10,063
8,483
25,183
108,280
172,275

II. Highlights
1. Major Performance Items (Consolidated)

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

2018/3 (Estimates)

Revenue from operations

1,075,285

1,110,259

1,009,408

1,125,405

1,200,000

Operating income

161,271

156,332

166,199

192,495

195,000

Income before taxes and special items

139,638

133,113

144,851

169,851

171,000

Profit attributable to owners of parent

64,29773,33883,426102,681

108,000

Total assets

4,765,368

4,901,526

5,311,840

5,484,115

5,800,000

Shareholders' equity *1

1,329,057

1,495,838

1,509,680

1,592,777

1,670,000

Interest-bearing debt

1,973,042

1,929,355

2,291,038

2,396,994

2,555,000

Cash flow from operating activities

336,489

200,078

135,821

168,527

173,000

Cash flow from investing activities(133,537)(46,568)(231,003)(327,292)(356,000)

Cash flow from financing activities(177,514)(189,109)309,237(4,921)

124,000

EBITDA *2

246,332

239,934

252,034

279,718

282,500

Return on assets (ROA) *3

3.5 %

3.4 %

3.4 %

3.7 %

3.6 %

Interest coverage ratio (ICR) *4

7.5 times

7.7 times

8.5 times

8.7 times

8.4 times

Return on equity (ROE) *5

5.0 %

5.2 %

5.6 %

6.6 %

6.6 %

Earnings per share (EPS) (Yen)

46.34

52.85

60.13

74.00

*1 Shareholders' equity = Net assets - Stock acquisition rights - Non-controlling interests*2 EBITDA = Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates + Depreciation + Amortization of goodwill*3 ROA = (Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates) / Total assets (average）*4 ICR = (Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates) / Interest expense*5 ROE = Profit attributable to owners of parent / Shareholders' equity (average)

7

77.83

2. Segment Information (Consolidated)(Millions of yen (rounded down); as percentage of total)(1) Revenue from Operations

2014/3

Building Business

484,229

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

403,259
48,02980,366
6,288
19,946
29,21927,097
3,674(26,825)
1,075,285

2014/3*1
43.9% Building Business
36.6% Residential Business
4.4%
7.3% International Business
0.6% Investment Management
1.8% Architectural Design & Engineering
2.7% Hotel Business
2.5% Real Estate Services
0.2% Other
Eliminations or corporate

2015/3525,82948.0%

587,660

403,25936.8%

377,73680,366
6,288
19,946
29,21927,097
3,674(20,396)
1,075,285

7.3%
0.6%
1.8%
2.7%
2.5%
0.3%

77,7948,050
19,46730,827
27,295
3,747(22,321)
1,110,259

2015/3*2
51.9% Building Business
Lifestyle Property Business
33.4% Residential Business
6.9% International Business
0.7% Investment Management
1.7% Architectural Design & Engineering
2.7% Hotel Business
2.4% Real Estate Services
0.3% Other
Eliminations or corporate

2016/32017/3

2018/3(Estimates)

484,816
105,706
383,887

42.7%
9.3%
33.8%

422,349
86,569345,226

40.9%
8.4%
33.4%

484,238
88,955
407,850

42.1%
7.7%
35.5%

497,000
105,000
423,000

40.7%
8.6%
34.6%

71,176
14,885
19,46730,827
20,543
3,747(24,799)
1,110,259

6.3%
1.3%
1.7%
2.7%
1.8%
0.4%

75,95624,994
21,27933,08919,815
3,882(23,754)
1,009,408

7.4%
2.4%
2.1%
3.2%
1.9%
0.3%

66,556
21,323
19,30933,512
24,243
4,237(24,820)
1,125,405

5.8%
1.9%
1.7%
2.9%
2.1%
0.3%

95,00020,00019,00034,00025,0004,000(22,000)
1,200,000

7.8%
1.6%
1.6%
2.8%
2.0%
0.3%

Millions of yen (rounded down)(2) Operating income

2014/3

Building Business

108,172

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

27,7788,130
25,579
3,046
1,252
737
1,544
(246)
(14,724)
161,271(3) Rate of return

2014/3

2015/3*1
Building Business

116,277

128,982

Residential Business

27,778

11,605International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

25,579
3,046
1,252
737
1,544
(246)
(14,698)
161,271

26,068
4,064
663
754
1,111
16
(16,934)
156,332

2014/3

2014/3

2018/3(Estimates)

102,820
26,162
11,532

108,940
25,842
18,035133,570
25,807
19,253140,000
26,00020,00025,901
4,282
663
754
1,105
16
(16,906)
156,332

19,421
5,082
1,754
1,490
602
(37)
(14,933)
166,199

26,313
4,520
445
1,932
2,157
289
(21,793)
192,495

23,000
3,000
500
1,500
1,500
0
(20,500)
195,000

2017/3

2018/3(Estimates)

21.2 %
24.7 %
3.0 %

25.8 %
29.9 %
5.2 %

27.6 %
29.0 %
4.7 %

28.2 %
24.8 %
4.7 %

36.4 %
28.8 %
3.4 %
2.4 %
5.4 %
0.4 %

25.6 %
20.3 %
8.2 %
4.5 %
3.0 %
(1.0) %

39.5 %
21.2 %
2.3 %
5.8 %
8.9 %
6.8 %

24.2 %
15.0 %
2.6 %
4.4 %
6.0 %
0.0 %

14.1 %

14.1 %

16.5 %

17.1 %

2015/3

2015/3

2016/32017/3

Residential Business

6.9 %

3.1 %

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

31.8 %
48.4 %
6.3 %
2.5 %
5.7 %
(6.7) %

33.5 %
50.5 %
3.4 %
2.4 %
4.1 %
0.4 %

15.0 %

15.0 %

2014/3

2014/36.9 %16.9 %
31.8 %
48.4 %
6.3 %
2.5 %
5.7 %
(6.7) %

2017/3

2016/321.9 %

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2016/3

2015/322.1 %

22.3 %*2
Building Business
Lifestyle Property BusinessResidential Business2015/3*1
Building Business

Building Business2015/3*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

16.3 %
Millions of yen (rounded down)(4) Depreciation
Building Business

57,500Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

3,032
4,985
6,748
43
72
1,162
407
223
629
74,805*1
Building Business

62,48559,960Residential Business

3,032

2,728

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

6,748
43
72
1,162
407
223
629
74,805

7,378
55
103
1,322
333
159
654
72,696*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

48,665
11,2942,762

43,752
12,2883,085

47,755
12,704
3,144

-

6,404
1,029
103
1,322
300
159
654
72,696

7,033
5,413
126
1,527
284
90
642
74,245

5,913
4,216
113
1,478
343
64
240
75,97476,500*1 As of April 2014, the Commercial Property Development & Investment Business has been integrated into the Building Business.
*2 As of April 2015, the following segment changes have occurred.
・Domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.
・Overseas investment management business has been moved from the International Business to the Investment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the Residential Business.

8

2018/3(Estimates)

Millions of yen (rounded down)

2014/3(5) Amortization of goodwill
Building Business

501

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

3,126
899
70
4,598

2014/3

2015/3*1
Building Business

501

479

Residential Business

3,126

3,312

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

899
70
4,598

875
4,667

2015/3*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2016/32017/3

2018/3(Estimates)

409
69
3,312

409
318
3,030

409
69
3,030

-

875
4,667

2,386
6,144

1,963
0
5,473

5,500
Millions of yen (rounded down)

2014/3(6) Operating income before depreciation *3
Building Business

166,173

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

33,936
13,11533,226
3,159
1,324
1,899
1,951
(23)
(14,095)
240,674

2014/3

2015/3*1
Building Business

179,263

189,421

Residential Business

33,936

17,645International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

33,226
3,159
1,324
1,899
1,951
(23)
(14,069)
240,674

34,321
4,119
766
2,076
1,444
175
(16,280)
233,695

2015/3*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2016/32017/3

2018/3(Estimates)

151,894
37,525
17,606

153,101
38,44824,150181,734
38,58025,427-32,305
6,186
766
2,076
1,405
175
(16,252)
233,695

26,454
12,881
1,880
3,017
886
53
(14,291)
246,588

32,226
10,699
558
3,410
2,500
353
(21,553)
273,942

277,000
Millions of yen (rounded down)

2014/3(7) Capital expenditure
Building Business

91,242

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

18,3804,907
48,394
35
53
2,040
294
869
6,360
172,579

2014/3

2015/3*1
Building Business

96,149120,704

Residential Business

18,38022,108International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

48,394
35
53
2,040
294
869
6,360
172,579

45,947
242
677
3,290
408
382
(2,304)
191,457

2015/3*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2016/32017/3

2018/3(Estimates)

87,53633,16822,167

175,904
40,272
29,144

162,651
59,05427,267-

21,261
24,927
677
3,290
349
382
(2,304)
191,457

35,472
378
116
1,295
433
29
369
283,416

39,724
201
182
734
568
274
3,055
293,716

Millions of yen (rounded down)

2014/3(8) Total assets

2014/3

2015/3

Building Business

3,040,634

Building Business

3,433,585

3,416,285

Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

662,350
403,188452,048
30,03524,246
24,63624,781
28,02575,4204,765,368

Residential Business

662,350

597,587

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

455,358
30,03524,246
24,63624,781
28,02582,347
4,765,368

595,293
31,03024,98528,03427,505
27,696
153,106
4,901,526*Exchange rate

¥/$
¥ /￡

<2017/3>
PL 108.78
PL 147.57

BS 116.49
BS 143.00<2018/3 (Estimates)>
PL 110.00
BS 110.00
PL 130.00
BS 130.00

2015/3*2
Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2016/3

2018/3(Estimates)

3,094,967
321,405602,263

3,208,271
372,779
748,400

3,445,008
484,292
634,219-479,785
146,538
24,98528,03423,972
27,696
151,876
4,901,526

515,844
141,126
27,47428,417
23,60823,501
222,415
5,311,840

541,888
106,990
27,35828,84225,702
12,649177,1635,484,115

5,800,000*1 As of April 2014, the Commercial Property Development & Investment Business has been integrated into the Building Business.
*2 As of April 2015, the following segment changes have occurred.
・Domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business,
now featuring in the newly created Lifestyle Property Business.
・Overseas investment management business has been moved from the International Business to the Investment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the Residential Business.
*3 Operating income before depreciation is included in earnings before depreciation and amortization of goodwill.

9

2017/3

3. Building Business Revenue from Operations Breakdown (Consolidated) *1

Millions of yen (rounded down)

2014/3

2014/3*2

2015/3*2

2015/3*3

2016/3*3

2017/3*3

2018/3(Estimates)*3

Leasing403,319

409,175

416,631

347,757

353,958

376,531

382,000

Property Management

17,866

17,696

19,721

19,38921,14621,92623,000Contracted Work

11,56011,463

14,50014,50014,597

12,552

14,000District Heating and Cooling Services

8,991

8,991

8,724

8,724

8,387

8,280

8,000

Other (Sales of assets etc.)

42,49178,503

128,083

94,44324,25964,94770,000

Total

484,229525,829587,660

484,816

422,349484,238

497,000*1 Including revenue from other segments.
*2 As of April 2014, revenue from operations from the former Commercial Property Development & Investment Business is included in calculations.
*3 As of April 2015, revenue from operations from the Lifestyle Property Business is not included in calculations.

4. Building Business Data (Consolidated)
Contracted area
Owned by MEC(Thousands of square meters)

2014/3

2015/3

2016/32017/3

4,053

4,184

3,470

3,557

2,514

2,629

2,074

2,182

Subleases
1,539
1,555
1,395
1,376
* As of April 2014, figures include the contracted area from the former Commercial Property Development & Investment Business’ properties (excluding logistics).
* As of April 2015, the contracted area from the Lifestyle Property Business are not included in calculations.

5. Building Business Data (Unconsolidated)(Thousands of square meters ; yen/tsubo.month)

2014/3

2015/3

2016/32017/3

2018/3(Estimates)

Owned by MEC

3,288

3,326

3,265

3,414

3,499

Subleases

2,292

2,345

1,909

1,971

1,991

Total

5,580

5,670

5,174

5,385

5,490

(2) Leasable area

3,475

3,504

3,192

3,357

3,435

(3) Vacancy rate (All uses in Japan)

5.29 %

2.80 %

2.22 %

2.93 %(1) Total operating floor space

3.0 %(4) Average rent (All uses in Japan)
23,861
23,587
25,23425,84226,000* The average rent is per 3.3 square meters per month.
* As of April 2014, the floor space and rent from the former Commercial Property Development & Investment Business (not including logistics) are included in calculations.
* As of April 2015, the floor space and rent from the Lifestyle Property Business are not included in calculations.

6. Marunouchi Area Building Data (Unconsolidated)(Thousands of square meters; millions of yen(rounded down))

2014/3

2015/3

2016/32017/3Operating floor space

2,755

2,583

2,531

2,727

Leasable area

1,714

1,571

1,466

1,603

Office vacancy rate

4.32 %

1.82 %

1.37 %

Building lease revenue

204,621202,784

2.42 %

202,337

216,67310

7. Lifestyle Property Business Retail Properties Data (Consolidated)
2016/32017/3680
680
Contracted area(Thousands of square meters)* These figures are for the contracted area of retail properties of the Lifestyle Property Business (including some office facilities).

8. Condominium Business Data
2014/3

2015/3

2016/32017/3

2018/3(Estimates)

288,938

239,422

215,762

223,266

267,000

Condominiums sold (units)

6,259

4,603

3,868

3,713

4,200

Gross margin19.1 %

17.3 %

18.7 %

19.4 %

18.1 %

Inventory (units)

107

141

188

326

-

New Supply of condominiums (units)
5,920
5,119
* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales

3,641

3,236

3,600

Central Tokyo

Other area of Tokyo

Kanagawa, Saitama, Chiba

Other area of Japan

41.8 %

22.8 %

21.2 %

14.2 %

Condominiums sold (Millions of yen)

Breakdown of Land Acqusition in 2017/3* The figures are based on Revenue.

9. Total Assets of Major Overseas Subsidiaries
Main Location

2017/3 *1,2,3

Currency Exchange Rate

Rockefeller Group, Inc.

USA

375,104 millions of yen¥ / $(BS)116.49Mitsubishi Estate London Limited.

UK

133,853 millions of yen¥ /￡(BS)

143.00Mitsubishi Estate Asia Pte. Ltd. *3*1 Before consolidation adjustments.

Asia

65,043 millions of yen¥ /S$(BS)80.63*2 Due to overseas subsidiaries closing accounts in December, figures from 3 months previous are used.
*3 Including the equity investments directly made by Mitsubishi Estate.

1110. Special Purpose Vehicle Data

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

Building Business
Equity investment by Mitsubishi Estate(Unconsolidated)
Equity investment by other companies(Unconsolidated)
Interest bearing debt borrowed by SPV(Unconsolidated)

64,481

206,865

172,698

168,753

32,282

102,31179,00576,664

48,572

102,552

76,70478,28848,572

102,530

76,70478,288

255,980

157,971

97,69397,568237,880

157,871

97,593

97,468Lifestyle Property Business
Equity investment by Mitsubishi Estate(Unconsolidated)

31,09737,036

7,245

13,184Equity investment by other companies

2,488

6,892

(Unconsolidated)

2,488

6,892

Interest bearing debt borrowed by SPV(Unconsolidated)

8,297

19,276

8,197

19,176

Residential Business
Equity investment by Mitsubishi Estate(Unconsolidated)

15,476

48

-

-

-

-

-

-

Equity investment by other companies

-

-

-

-

(Unconsolidated)

-

-

-

-

-

-

-

-

-

-

-

-

Interest bearing debt borrowed by SPV(Unconsolidated)
Commercial Property Development & Investment Business
Equity investment by Mitsubishi Estate(Unconsolidated)

136,816
72,965Equity investment by other companies

22,622(Unconsolidated)

17,934

Interest bearing debt borrowed by SPV(Unconsolidated)314,031
153,322

Total

216,774

206,914203,795

205,789(Unconsolidated)

105,248

102,31186,25089,849Equity investment by other companies

71,195102,552

79,192

85,181(Unconsolidated)

66,507

102,530

79,192

85,181Equity investment by Mitsubishi Estate

Interest bearing debt borrowed by SPV(Unconsolidated)

570,011

157,971

105,990

116,845

391,202

157,871

105,790

116,645* The numbers include the following S.P.V
1. TMK vehicles under the real estate securitization law - Mitsubishi Estate's share : over 20%
2. YK-TK or GK-TK vehicles under the commercial law - Mitsubishi Estate's share : over 20%* As of April 2014, the TMK・TK vehicles of the former Commercial Property Development & Investment Business are included in the Building Business.
* As of April 2015, domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.

12III. Summary of Consolidated Financial Statements
1. Consolidated Balance Sheets

Millions of yen (rounded down)
2014/3

AssetsCurrent assets
Cash
Notes and accounts receivable-tradeMarketable securities
Property for sale
Property for sale in progress
Property for development
Appropriated construction in progress
Other inventories
Equity investments
Deferred income taxes
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Property and equipment
Buildings and structures
Machinery and equipment
Land
Land in trust
Construction in progress
Other property and equipment
Total property and equipment
Intangible assets
Leaseholds
Other intangible assets
Total intangible assets
Investments and other assets
Investment securities
Long-term loans
Lease deposits
Net defined benefit asset
Deferred income taxes
Other investments
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets

Total assets

2015/3

2016/32017/3

224,12128,5391,333
66,484
319,355
8,609
7,195
1,012
223,911
21,15245,014(208)
946,522

197,169
35,873
2,179
52,102
314,305
8,646
6,594
1,002
251,249
17,01065,244(571)
950,806

412,983
35,261
14
54,827366,354
8,905
7,942
1,014
276,842
14,552
55,764(528)
1,233,935

243,681
43,823
13,51560,195337,928
1,058
8,091
1,021
292,764
10,73069,152(270)
1,081,690

896,947
23,1891,897,116
440,852
53,657
16,841
3,328,605

846,652
21,161
1,839,707
532,774
90,69415,022
3,346,013

886,494
21,9391,955,451
549,811
122,261
15,1053,551,062

1,032,286
21,722
1,987,344
708,801
92,367
14,2333,856,757

87,913
8,139
96,05287,021
33,210120,232

75,49432,289107,784

73,81625,72599,542

213,656
1,532
113,015
6,320
10,15051,356(1,844)394,1883,818,846
4,765,368

280,809
1,448
112,397
23,194
10,504
57,840(1,722)484,473
3,950,719
4,901,526

216,334
1,406
115,3829,810
16,17061,578(1,623)419,058
4,077,904
5,311,840

244,870
1,389
106,1499,487
11,08274,786(1,642)446,125
4,402,424
5,484,115

13

2014/3
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term borrowings
Current portion of long-term debt
Commercial paper
Bonds due within one year
Accrued income taxes
Deferred tax liability
Allowance for loss on business transfer
Other current liabilities
Total current liabilities
Long-term liabilities
Bonds
Long-term borrowings
Lease deposits received
Deferred tax liability
Deferred tax liabilities on land revaluation
Net defined benefit liability
Accrued directors' retirement benefits
Provision for environmental measures
Negative goodwill
Other long-term liabilities
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
CapitalCapital surplus
Retained earnings
Less treasury stock, at cost
Total shareholders' equity
Other accumulated comprehensive income
Unrealized holding gain on securities
Deferred gains or losses on hedging instruments
Land revaluation reserve
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Total other accumulated comprehensive income
Stock acquisition rights
Non-controlling interests
Total net assets

Total liabilities and net assets

2015/3

2016/3

Millions of yen (rounded down)
2017/3

105,271
63,762
343,127
56,595
14,423947
183,619
767,747

95,632
77,881
86,61728,00040,2259,934
205
181,210
519,707

58,331
103,125
163,651
78,02322,903
10,570234,271
670,877

56,09986,415
149,281
85,075
16,471
572
192,708
586,623

645,000
855,052
383,083
192,938
319,090
20,380593
92,35642,0322,550,527
3,318,275

645,000
1,044,387
381,605
206,079
280,672
23,068656
77,172
83,012
2,741,655
3,261,362

825,000
1,114,426
393,309180,205
265,91232,464685
5,068
83,82780,882
2,981,782
3,652,660

777,712
1,292,854
398,014217,565
263,661
22,042834
4,831
90,53561,9783,130,031
3,716,654

141,373
170,485
465,757(4,811)
772,805

141,373
162,638
538,687(5,259)837,440

141,373
161,188
600,116(5,385)897,293

141,659
161,477
674,259(5,489)971,906

75,971
125
493,153(8,249)(4,748)556,252494
117,540
1,447,093
4,765,368

127,609(5)
504,756
20,7985,238
658,398500
143,825
1,640,163
4,901,526

89,945(30)
521,248
13,900(12,676)
612,387529
148,970
1,659,180
5,311,840

109,64473
527,128(13,363)(2,612)620,870529
174,154
1,767,460
5,484,115

14

2. Consolidated Income Statements
Revenue from operations
Operating income
Non-operating income
Interest income
Dividend income
Equity in earnings of unconsolidated subsidiaries and affiliates
Other non-operating income
Total non-operating income
Non-operating expenses
Interest expense
Loss on disposal of fixed assets
Other non-operating expenses
Total non-operating expenses
Income before taxes and special items
Extraordinary income
Gain on sales of fixed assets
Gain on sales of investment securities
Gain on negative goodwill
Reversal of accrued payment
Reversal of allowance for loss on obligations of additional investments
Settlement received
Other extraordinary income
Total extraordinary income
Extraordinary loss
Loss related to retirement of fixed assets
Impairment loss
Impairment loss on equity investments
Provision for loss on obligations of additional investments
Provision for environmental measures
Provision for loss on business transfer
Loss on step acquisitions
Total extraordinary loss
Income before income taxes and minority interests
Corporation tax, inhabitants' tax and enterprise tax
Income taxes for prior periods
Income taxes-deferred
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

2014/3
1,075,285
161,271

2015/3
1,110,259
156,332

2016/3
1,009,408
166,199

2017/3
1,125,405
192,495

Millions of yen (rounded down)
2018/3(Estimates)
1,200,000
195,000

232
3,876
1,547
3,666
9,323

287
4,577
1,372
2,850
9,087

284
4,556
605
5,503
10,949

268
4,634
872
3,605
9,380

0
5,000
500
2,500
8,000

22,1294,029
4,796
30,956
139,638

21,072
4,780
6,454
32,306133,113

20,183
6,064
6,049
32,296
144,851

22,743
4,453
4,827
32,024
169,851

24,0006,000
2,000
32,000171,000

6,702
4,942
11,64436,551
12,25648,807

2,709
11,3504,098
1,262
19,421

1,013
13,505
1,966
16,484

6,000
2,000
1,000
9,000

2,303
32,644
7,648
42,596108,685
22,403
20,684(2,359)67,9573,660
64,297

6,190
73,725
1,804
81,719100,201
23,190(9,814)86,825
13,48773,338

4,223
2,561
5,068
10,57022,423
141,850
43,994(422)
98,27814,851
83,426

4,762
12,2606,431
23,455
162,881
43,451
2,622
116,808
14,126102,681

5,000
5,000
175,000

15

53,000122,000
14,000108,000

3. Consolidated Cash Flow Statements

Millions of yen (rounded down)
2014/3

2015/3

2016/32017/3

2018/3(Estimates)

Income before income taxes and minority interests

108,685

100,201

141,850

162,881

175,000

Adjustment for extraordinary income or loss

34,95532,954(318)

12,249(4,500)Depreciation and amortization

74,80572,696

74,24575,97476,500Decrease (increase) in inventories

93,854110,219(33,202)84,85365,000Decrease (increase) in equity investments(18,180)(35,973)(32,487)(32,460)(130,000)

Other

71,470(45,659)

9,316(82,780)

26,000

Income taxes, etc.

(29,102)(34,360)(23,582)(52,189)(35,000)

Net cash provided by (used in) operating activities

336,489

200,078

135,821

168,527

173,000

Proceeds from sales of marketable securities andinvestment securities

1,034

624

29,043

10,6345,000

Proceeds from sales of property and equipment and beneficial
interests in trust of property and equipment

33,854

167,645

22,806

11,3285,000(159,677)(177,331)(275,316)(275,372)(357,000)(8,748)(37,506)(7,536)(73,883)(9,000)Net cash provided by (used in) investing activities(133,537)(46,568)(231,003)(327,292)(356,000)

Newly acquired funds

181,349

328,053

503,154

298,515

398,000

Repayment(275,254)(505,027)(154,773)(243,051)(237,000)

Cash dividends paid

(25,448)(21,684)(29,082)(33,709)(37,000)

Purchases of property and equipment
Other

Other

(58,161)

9,549(10,061)(26,676)0

Net cash provided by (used in) financing activities(177,514)(189,109)309,237(4,921)

124,000

Effect of exchange rate on cash and cash equivalents

8,321

1,235

(153)

(5,144)-

Net increase (decrease) in cash and cash equivalents

33,758(34,363)

213,902(168,830)(59,000)

Increase in cash and cash equivalents from newly
consolidated subsidiary
Decrease in cash and cash equivalents resulting
from exclusion of subsidiaries from consolidation
Increase in cash and cash equivalents resulting
from share transfer

-

6,658

-

-

-

(856)

-

-

(219)

-

-

1,455

-

-

-

Cash and cash equivalents at the beginning of year

191,837

224,739

198,489

412,392

243,000

Cash and cash equivalents at the end of year

224,739

198,489

412,392

243,341

184,000

16

4. Total Assets, Capital Investment and Depreciation (Consolidated)

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

2018/3(Estimates)

Total assets

4,765,368

4,901,526

5,311,840

5,484,115

5,800,000

Capital investment

159,677

177,331

275,316

275,372

357,000

Depreciation

74,80572,696

74,24575,97476,500Millions of yen (rounded down)

Capital investment
2017/3

2018/3(Estimates)

Total

275,372

Total

357,000

Mitsubishi Estate(Breakdown)

177,107

Mitsubishi Estate(Breakdown)

181,000

Building Business
Marunouchi redevelopment
construction cost etc.
Refurbishment cost etc.

126,110

Marunouchi redevelopment
construction cost etc.

107,000

15,263

Refurbishment cost etc.

22,000Lifestyle Property Business

34,345

Lifestyle Property Business

46,000Other

Building Business

98,265(Breakdown)

Other

176,000(Breakdown)

Rockefeller Group, Inc.

25,187

Rockefeller Group, Inc.

48,000Mitsubishi Jisho Residence
Sunshine City

25,118Mitsubishi Jisho Residence

30,00012,792

Tokyo Ryutsu Center

15,000

Yokohama Sky Building

12,581

Mitsubishi Estate・Simon

10,000Tokyo Ryutsu Center

9,681

Sunshine City

10,000Marunouchi Heat Supply

4,461

Consolidated TMK

8,000

Consolidated TMK

2,780

Marunouchi Heat Supply

5,000

Mitsubishi Estate Europe

2,510Royal Park Hotels & Resorts

2,000

Mitsubishi Estate・Simon

2,079

Yokohama Sky Building

2,000

2014/3

2015/3

2016/32017/3

2018/3(Estimates)

Interest-bearing debt

1,973,042

1,929,355

2,291,038

2,396,994

2,555,000

Net interest-bearing debt *1

1,748,303

1,730,866

1,878,645

2,153,652

2,371,000

Interest expense

22,17621,09920,18922,74324,000Financial income and expense (net) *2(18,067)(16,234)(15,348)(17,841)(19,000)* Major inter-group transactions are eliminated.

5. Interest-Bearing Debt (Consolidated)

Millions of yen (rounded down)

Average interest rate *3

1.09 %

1.08 %

0.96 %

0.97 %

Debt equity ratio *4

1.48

1.29

1.52

1.50

1.53

-

-

1.33

1.26

1.29

7.1

7.2

7.5

7.7

8.4

-

-

7.0

7.1

7.8

After hybrid debt deductions *5

Net interest-bearing debt／EBITDA ratio
After hybrid debt deductions *5*1 Net interest-bearing debt = Interest-bearing debt - Cash and cash equivalents*2 Financial income and expense = Interest income + Dividend income - Interest expense*3 Average interest rate = Interest expense / Interest-bearing debt (average)*4 Debt equity ratio = Interest-bearing debt / Shareholders' equity*5 The subordinated bond and subordinated loan subject to equity credit from a credit rating agency (50% equity treatment) are shown after deductions.

17

0.97 %

6. Major Consolidated Subsidiaries
2017/3 Results

Millions of yen (rounded down)

Share of MEC-

Revenue from
Income before taxes
Operating income
and special items
operations
416,619
78,495
95,882

Net income
78,541

Total assets

Shareholders' equity Interest-bearing debt

Depreciation

4,575,250

1,367,731

2,137,065

43,440100.00%66,741
4,777
4,780
3,172
67,97364.16%
13,293
1,235
1,170
868
25,480Sunshine City Corporation
63.20%
27,380
6,987
5,679
3,984
109,097
60.00%
43,642
17,35917,59312,084
101,767
Mitsubishi Estate・Simon Co., Ltd.
Tokyo Ryutsu Center *56.15%
7,118
1,904
1,829
1,446
55,481
Mitsubishi Jisho Residence Co., Ltd.
100.00%298,637
28,971
27,35822,832562,209
Mitsubishi Estate Home Co., Ltd.
100.00%27,791363
396
471
11,090Mitsubishi Jisho Community Co., Ltd.
71.47%
48,566
3,059
3,130
1,931
15,798Rockefeller Group, Inc.
100.00%64,94322,366
20,3004,479
375,104
Mitsubishi Estate Europe Limited
100.00%
7,646
4,352
4,147
3,074
133,853
Mitsubishi Jisho Sekkei Inc.
100.00%16,969
1,740
1,776
1,193
25,646
Royal Park Hotels & Resorts Co., Ltd.
100.00%24,474
1,463
1,458
1,212
11,589
Royal Park Hotel Co., Ltd.
55.71%
9,981
475
389
267
15,608Mitsubishi Real Estate Services Co., Ltd.
100.00%24,243
2,232
2,512
1,753
24,307
1,125,405
192,495
169,851
102,6815,484,115* Tokyo Ryutsu Center Inc. becomes a Mitsubishi Estate consolidated subsidiary in FY2016-2ndQ. However, the figures for the FY2016-1stQ are included in this table.

15,21621,15357,35938,64232,09372,7001,371
7,622
210,589
67,975
19,243
2,377
7,886
15,492
1,592,777

7
1,550
27,34926,94817,139415,045
120,214
61,811
3,537
3,800
27
2,396,994

108
2,273
5,463
5,513
1,102
1,735
228
381
7,361
2,113
102
757
730
343
75,974

Mitsubishi Estate Co., Ltd.
Mitsubishi Jisho Property Management Co., Ltd.
Marunouchi Heat Supply Co., Ltd.

2018/3 Estimates

Millions of yen (rounded down)

Share of MEC
Mitsubishi Estate Co., Ltd.
Mitsubishi Jisho Property Management Co., Ltd.
Marunouchi Heat Supply Co., Ltd.
Sunshine City Corporation
Mitsubishi Estate・Simon Co., Ltd.

Tokyo Ryutsu Center *Mitsubishi Jisho Residence Co., Ltd.
Mitsubishi Estate Home Co., Ltd.
Mitsubishi Jisho Community Co., Ltd.
Rockefeller Group, Inc.
Mitsubishi Estate Europe Limited
Mitsubishi Jisho Sekkei Inc.
Royal Park Hotels & Resorts Co., Ltd.
Royal Park Hotel Co., Ltd.
Mitsubishi Real Estate Services Co., Ltd.

100.00%64.16%
63.20%
60.00%
56.15%
100.00%100.00%71.47%
100.00%100.00%100.00%100.00%55.71%
100.00%-

Revenue from
Income before taxes
Operating income
and special items
operations
468,000
99,00099,00068,685
13,703
27,88043,7508,149
318,000
30,29349,004
97,908
6,321
16,90025,06010,04925,1941,200,000

4,766
987
6,516
16,666
1,665
22,000304
2,619
19,254
3,255
1,600
1,279
367
1,500
195,000

4,766
876
5,219
16,825
1,368
20,700310
2,629
16,607
2,647
1,630
1,263
264
1,459
171,000

Net income

Total assets

Shareholders' equity Interest-bearing debt

4,750,000

1,430,000

2,223,000

44,000

3,264
703
3,608
11,390958
14,600
201
1,884
5,396
3,867
1,090
810
168
1,009
108,000

69,12927,822
117,174
107,311
64,236
649,000
12,00017,039403,642
115,638
25,941
12,40015,304
24,1465,800,000

16,273
21,74559,636
41,64332,85878,0001,572
8,864
211,952
53,79919,5383,188
8,054
15,391
1,670,000

2
3,300
31,03928,62323,631
470,000
149,856
58,142
2,937
3,415
27
2,550,000

112
2,545
5,331
5,253
1,865
1,557
268
323
7,472
1,785
154
782
788
355
76,500* Before consolidation adjustments.
* As of April 1 2016, Mitsubishi Jisho Community Co., Ltd. and Mitsubishi Jisho Marubeni Residence Services Co.,Ltd. were merged to form a new company that operates under the name of Mitsubishi Jisho Community Co., Ltd.
For FY2017 ongoing, figures for Mitsubishi Jisho Community Co., Ltd are those of the new company.

18

Depreciation

87,000Ⅳ．Mitsubishi Estate Group Companies' Data
1.Mitsubishi Estate Co., Ltd.
Date of Establishment

May 7, 1937

Millions of yen (rounded down)

Changes in Business Results

The Others

2014/3

2015/3

2016/32017/3

Revenue from operations

405,316

414,683

380,951

416,6192018/3 （Estimates）
468,000

Gross profit

91,266

98,40695,302

104,908

128,000

Operating income

71,27977,56475,92578,49599,000

Income before taxes and special items

66,192

79,87567,77095,88299,000Net income

11,082

51,34743,41878,54187,000Total assets

3,904,323

4,067,775

4,486,547

4,575,250

4,750,000

Shareholders' equity

1,177,589

1,289,332

1,289,256

1,367,731

1,430,000◇Building Business Data (Unconsolidated)

Millions of yen (rounded down)

2014/3
Revenue from operations

2015/3358,009

2016/3384,204

2017/3335,267

2018/3 （Estimates）

365,094

416,000

Gross profit
82,594
94,49488,456
109,866
127,000*1 As of April 2014, the Commercial Property Development Business and the Investment Business were integrated into the Building Business.
*2 As of April 2015, the Domestic Retail Business and Logistics Property Businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.

◇Total Assets, Current assets, Fixed assets, Property and equipment, Capital Investment, and Depreciation（Unconsolidated）
2014/3

2015/3

2016/3

Millions of yen (rounded down)

2017/3

2018/3 （Estimates）

Total assets

3,904,323

4,067,775

4,486,547

4,575,250

4,750,000

Current assets

562,201

471,543

1,087,124

864,059-

Fixed assets

3,342,122

3,596,231

3,399,423

3,711,191-（Property and equipment）

2,420,316

2,574,747

2,658,724

2,917,533-

Capital investment*

81,862

97,790145,435

177,107

181,000

Depreciation

43,13942,01839,92243,44044,000* Major inter-group transactions are eliminated.

◇Interest-Bearing Debt (Unconsolidated)

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

2018/3 （Estimates）

Interest-bearing debt

1,618,730

1,716,149

2,053,148

2,137,065

2,223,000

Net interest-bearing debt *1

1,497,079

1,655,484

1,757,121

2,016,733

2,165,000

Interest expense

18,135

17,42817,67020,16020,000Financial income and expense (net) *2(3,357)

5,031(3,874)

19,141

5,000

Average interest rate *3

1.09 %

1.05 %

0.94 %

0.96 %

Fixed interest ratio

61.88 %

63.28 %

67.90 %

74.17 %

0.92 %-%

Long-term debt ratio

97.26 %

95.85 %

98.45 %

99.06 %-%

Debt equity ratio *4

1.37

1.33

1.59

1.56

1.55

*1 Net interest-bearing debt = Interest-bearing debt - Cash and cash equivalents*3 Average interest rate = Interest expense /Interest-bearing debt (average)*2 Financial income and expense = Interest income + Dividend income - Interest expense*4 Debt equity ratio = Interest-bearing debt / Shareholders' equity

19

2.Mitsubishi Jisho Property Management Co., Ltd.
Business Activities

Comprehensive building operation and management

Date of Establishment

October 1, 1991

Share of Voting rights

100.00%Changes in Business Results

Revenue from operations

Millions of yen (rounded down)

Mitsubishi Estate
Building Management
Co., Ltd（former
company）
2014/339,239Mitsubishi Jisho Property Management
2015/3

2016/365,6202017/3
67,95866,741

2018/3 （Estimates）
68,685

Operating income

2,774

4,145

4,668

4,777

4,766

Income before taxes and special items

2,806

4,183

4,676

4,780

4,766

Net income

1,571

2,681

3,166

3,172

3,264

Total assets

41,54370,08377,562

67,973

69,129

Shareholders' equity

10,42522,89325,165

15,216

16,273* As of April 2014 the former Mitsubishi Estate Building Management Co., Ltd. and the former Mitsubishi Jisho Property Management Co., Ltd. were merged to form a new company, Mitsubishi
Jisho Property Management Co., Ltd.
* As of April 2014, figures for Mitsubishi Jisho Property Management Co., Ltd. are those of the new company.
Reference：Mitsubishi Jisho Property Management（former company） (Millions of yen)
2014/3
Revenue from operations

21,712

Operating income

908

Income before taxes and special items

940

Net income

473

Total assets

23,369

Shareholders' equity

10,30020

3.Marunouchi Heat Supply Co., Ltd.
Business Activities

Cooling and heating supply business in the Marunouchi, Otemachi, Yurakucho, and other districts

Date of Establishment

July 31, 1973

Share of Voting rights

64.16%

Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

2015/314,093

2016/3
13,7282017/3
13,226

13,293

2018/3 （Estimates）
13,703Operating income

(150)

482

1,100

1,235

987

Income before taxes and special items

(360)

475

1,115

1,170

876

Net income

3,178

414

1,506

868

703

Total assets

26,56323,07026,93825,48027,822

Shareholders' equity

18,58519,001

20,394

21,153

21,74521

4.Sunshine City Corporation
Business Activities

Management of Sunshine City and other buildings

Date of Establishment

October 14, 1966

Share of Voting rights

63.20%

Millions of yen (rounded down)

Changes in Business Results

2014/3
Revenue from operations

The Others

2015/3
26,9002016/3
27,171

2017/3
26,864

27,3802018/3 （Estimates）
27,880Operating income

6,685

7,178

7,195

6,987

6,516

Income before taxes and special items

5,810

5,990

5,861

5,679

5,219

Net income

3,573

3,766

3,876

3,984

3,608

Total assets

97,62097,363

100,300

109,097

117,174

Shareholders' equity

48,894

51,61454,52257,35959,636◇Segment Information
Revenue from operations

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

2018/3 （Estimates）

Building Leasing Business

14,853

14,98914,741

14,759-Retail Properties Business

6,176

6,187

6,453

6,491

-

Direct Management Business

5,871

5,994

5,668

6,128

-

-

-

-

-

-

26,90027,171

26,864

27,38027,880Eliminations or corporate
Total

Millions of yen (rounded down)

Operating income

2014/3

2015/3

2016/32017/3

2018/3 （Estimates）

Building Leasing business

10,40910,59010,523--Retail Properties Business

2,784

2,948

3,077

-

-

Direct Management Business

1,028

1,125

895

-

-

Eliminations or corporate(7,536)(7,485)(7,301)-

Total* As of FY2016, some segment changes have occurred.

6,685

7,178

7,195

6,987

6,516

◇Building Leasing Business Data
2014/3Contracted area（㎡）164,6222015/3

2016/3

163,867

162,43122

2017/3
164,9962018/3 （Estimates）-

5.Mitsubishi Estate・Simon Co., Ltd.
Business Activities

Management of outlet malls

Date of Establishment

July 2, 1999

Share of Voting rights

60.00%

Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/338,8492016/339,9542017/3
43,946

43,642

2018/3（Estimates）
43,750Operating income

13,07914,292

16,301

17,35916,666

Income before taxes and special items

13,146

14,464

16,521

17,593

16,825

Net income

8,000

8,828

10,69912,084

11,390Total assets

90,81093,350101,802

101,767

107,311

Shareholders' equity

27,02430,36434,576

38,642

41,643◇Changes in store area（㎡） and number of stores2014/3
Store area（㎡）Number of stores2015/3

2016/32017/3

2018/3 （Estimates）

287,600

294,700

308,500

308,500

308,500

1,450

1,490

1,527

1,529

1,529

◇PREMIUM OUTLETS data（As of March31, 2017 for 9 PREMIUM OUTLETS® Centers）
2,082,000
Site area（㎡）358,500
Total floor area（㎡）23

6.Tokyo Ryutsu Center Inc.
Business Activities

Leasing and operating management of logistics and office buildings

Date of Establishment

November 13, 1967

Share of Voting rights

56.15%

Changes in Business Results

Millions of yen (rounded down)

2017/3※
Revenue from operations

7,118

2018/3（Estimates）
8,149

Operating income

1,904

1,665

Income before taxes and special items

1,829

1,368

Net income

1,446

958

Total assets

55,481

64,236

Shareholders' equity

32,09332,858* Tokyo Ryutsu Center Inc. becomes a Mitsubishi Estate consolidated subsidiary in FY2017-2ndQ. However, the figures for the FY2017-1stQ are included in this table.

24

7.Mitsubishi Jisho Residence Co., Ltd.
Business Activities

Real estate development, sales, leasing, and management

Date of Establishment

June 1, 1957 （Towa Real Estate）

Share of Voting rights

100.00%Changes in Business Results
Revenue from operations

Millions of yen (rounded down)

2014/3
307,435

2015/3
254,497

2016/3
239,637

2017/3
298,637

2018/3 （Estimates）
318,000

Operating income

28,607

3,537

18,491

28,971

22,000

Income before taxes and special items

27,4392,753

18,16327,35820,700Net income

21,552

3,484

9,113

22,832

14,600Total assets

525,420435,871641,736562,209

649,000

Shareholders' equity

287,317283,555

52,906

72,70078,000* As of April 2015, the Residential Leasing Business has been moved from Mitsubishi Estate Co., Ltd. to Mitsubishi Jisho Residence Co., Ltd.
The Others◇Condominium Business Data
2014/3
Condominiums sold (Millions of yen)

2015/3

2016/32017/3

2018/3 （Estimates）

288,938

239,422

215,762

223,266

267,000

Condominiums sold (units)

6,259

4,603

3,868

3,713

4,200

Gross margin19.1 %

17.3 %

18.7 %

19.4 %

18.1 %

Inventory (units)

107

141

188

314

-

3,641

3,236

3,600

New Supply of condominiums (units)
5,920
5,119
* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales25

8.Mitsubishi Estate Home Co., Ltd.
Business Activities

Design and construction of single-unit homes and housing complexes, renovation of homes and retail shops

Date of Establishment

July 2, 1984

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/329,421

2016/328,572

2017/327,12827,791

2018/3 （Estimates）
30,293Operating income

333

166

475

363

304

Income before taxes and special items

352

171

482

396

310

Net income

33

155

382

471

201

Total assets

12,236

10,821

12,209

11,09012,000Shareholders' equity

2,394

2,550

2,932

1,371

1,572

◇Number of houses (orders and sold)2014/3

2015/3

2016/32017/3

Number of houses (orders)

551

469

532

454

2018/3 （Estimates）
569

Number of houses (sold)

574

517

476

459

494

79.5%

2018/3 （Estimates）
77.4%◇Changes in construction costs
2014/3
Construction costs margin

2015/3
81.3%

2016/3
81.6%

2017/378.6%

26

9.Mitsubishi Jisho Community Co., Ltd.
Business Activities

Overall condominium and building management

Date of Establishment

December 1, 1969

Share of Voting rights

71.47%

Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/333,704

2016/333,3672017/334,93748,5662018/3 （Estimates）
49,004

Operating income

2,227

2,283

2,262

3,059

2,619

Income before taxes and special items

2,233

2,273

2,373

3,130

2,629

Net income

1,270

1,645

1,437

1,931

1,884

Total assets

12,931

8,917

10,275

15,79817,039

Shareholders' equity

7,070

3,416

4,207

7,622

8,864

Changes in condominium management figures
2014/3
Number of condominiums
Number of units

2015/3

2016/32017/3

2,712

2,773

2,813

4,433

2018/3 （Estimates）
4,503

189,423

195,519

199,772

331,438

338,53827

10.Rockefeller Group, Inc.
Business Activities

Real estate operations

Date of Establishment

December 6, 1928

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2013/12
Revenue from operations

2014/1238,933

2015/1270,316

2016/1284,36064,9432017/12 （Estimates）
97,908Operating income

8,873

25,97920,12822,366

19,254

Income before taxes and special items

10,42624,23816,85520,30016,607

Net income

774(1,386)

8,615

4,479

5,396

Total assets

227,065

332,941

347,895

375,104

403,642

Shareholders' equity

126,589
187,965
198,644
210,589
211,952* As of April 2015, figures for the Overseas Investment Management Business has been moved from the International Business to the Investment Management Business.
However, the figures for the Overseas Investment Management Business are included in this table.

The Others

PL

97.73

105.79121.10108.78110.00 ¥ / $BS

105.39120.55120.61116.49110.00 ¥ / $◇Segment Information
Revenue from operations

Millions of yen (rounded down)

2013/12Development & Leasing Business2014/1233,734

2015/122016/1263,94162,00347,972

2017/12 （Estimates）
84,651

Other

5,198

8,313

20,41916,97013,256

Total

38,93370,31684,36064,94397,908Millions of yen (rounded down)

Operating income
Development & Leasing Business2013/12

2014/12
10,497

2015/122016/12
19,49027,96921,5472017/12 （Estimates）
21,851

266

(347)

2,949

2,843

493

Corporate(1,890)(1,642)(2,312)(2,024)(3,090)

Total

8,873

25,97920,12822,366

19,254

Other

28

11.Mitsubishi Estate Europe Limited
Business Activities

Real estate operations

Date of Establishment

November 26, 2009

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2014/122015/122016/122017/12 （Estimates）
6,321

Revenue from operations

7,028

Operating income

3,006

4,307

4,352

3,255

Income before taxes and special items

2,442

3,504

4,147

2,647

7,895

7,646

Net income

1,537

2,400

3,074

(3,867)

Total assets

159,709

164,044

133,853

115,638

82,28880,836
67,975* Mitsubishi Estate Europe Limited is a European holding company which includes Mitsubishi Estate London Limited.

53,799PL

174.18185.19147.57130.00 ¥ /￡BS

187.03178.78143.00130.00 ¥ /￡Shareholders' equity

29

12.Mitsubishi Jisho Sekkei Inc.
Business Activities

Construction and civil engineering design administration

Date of Establishment

March 1, 2001

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/3
15,773

2016/3
15,501

2017/3
17,106

16,9692018/3 （Estimates）
16,900Operating income

2,336

1,746

2,934

1,740

1,600

Income before taxes and special items

2,345

1,785

2,996

1,776

1,630

Net income

1,389

883

1,944

1,193

1,090

Total assets
Shareholders' equity

22,166
16,74722,591
17,16725,37818,81825,646
19,24325,941
19,538◇Amount of orders

Millions of yen (rounded down)

2014/3
Amount of orders

2015/316,081

2016/3
16,401

2017/3
16,42430

17,188

2018/3 （Estimates）
16,80013.Royal Park Hotels and Resorts Company, Limited.
Business Activities

Comprehensive management and management support of hotels

Date of Establishment

November 1, 2000

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/3
20,4202016/322,0782017/323,92524,4742018/3 （Estimates）
25,060Operating income

350

478

1,098

1,463

1,279

Income before taxes and special items

323

425

1,019

1,458

1,263

Net income

296

389

935

1,212

810

Total assets

8,344

11,335

11,610

11,58912,400Shareholders' equity

519

909

1,845

2,377

3,188

61.8%

2018/3 （Estimates）
70.0%◇Occupancy rate
2014/3
Sendai Royal Park Hotel

2015/369.8%

2016/365.0%

2017/3
64.4%

Yokohama Royal Park Hotel

84.8%

88.8%

87.4%

88.6%

85.7%

Royal Park Hotel THE Shiodome

89.0%

93.1%

85.8%

94.0%

91.6%

Royal Park Hotel THE Fukuoka

85.3%

88.9%

88.7%

88.0%

90.0%

Royal Park Hotel THE Kyoto

92.0%

92.9%

92.2%

92.3%

93.1%

Royal Park Hotel THE Nagoya

92.6%

95.2%

95.6%

92.3%

93.8%

Royal Park Hotel THE Haneda

-

84.8%

89.8%

88.4%

91.0%

31

14.Royal Park Hotel Co., Ltd.
Business Activities

Management of Royal Park Hotels

Date of Establishment

December 28, 1989

Share of Voting rights

55.71% （Mitsubishi Estate 52.71%, Royal Park Hotels and Resorts 3.0%）

Changes in Business Results
Revenue from operations

The Others

Millions of yen (rounded down)

2014/3

2015/3
9,915

2016/39,917

2017/3
10,0909,981

2018/3 （Estimates）
10,049Operating income

594

494

346

475

367

Income before taxes and special items

403

353

181

389

264

Net income

230

171

270

267

168

Total assets

15,56316,016

15,65815,60815,304

Shareholders' equity

7,176

7,348

7,618

7,886

8,054

◇Occupancy rate
Apr.

May

Jun.

Jul.

Aug.

Sep.

Oct.

Dec.

Jan.

Feb.

2014/3

96.7%

93.1%

93.0%

93.7%

95.8%

92.9%

97.3%

98.5%

90.9%

84.0%

93.5%

93.5%

93.5%

2015/3

91.7%

88.6%

84.3%

90.0%

90.5%

87.8%

95.8%

95.4%

94.1%

83.6%

89.8%

92.4%

90.4%

2016/3

92.1%

86.5%

78.9%

88.6%

92.5%

93.2%

96.7%

94.2%

90.7%

81.5%

90.3%

93.0%

89.8%

2017/3

93.8%

80.8%

79.1%

80.3%

85.5%

82.7%

88.5%

91.3%

89.8%

74.9%

87.7%

92.1%

85.5%

32

Nov.

Mar.

Total

15.Mitsubishi Real Estate Services Co., Ltd.
Business Activities

Real estate brokerage, leasing management, parking management, and state appraisal

Date of Establishment

December 20, 1972

Share of Voting rights

100.00%Changes in Business Results

Millions of yen (rounded down)

2014/3
Revenue from operations

The Others

2015/3
16,4592016/3
13,9392017/3
19,81524,243

2018/3 （Estimates）
25,194

Operating income

1,248

797

663

2,232

1,500

Income before taxes and special items

1,100

1,532

847

2,512

1,459

Net income

551

1,237

639

1,753

1,009

Total assets

20,255

20,772

23,502

24,307

24,146

Shareholders' equity

14,05815,126

15,337

15,492

15,391◇Segment Information
Revenue from Operations

Millions of yen (rounded down)

2014/3

2015/3

2016/32017/3

2018/3 （Estimates）

Distribution Business

7,950

7,329

7,534

9,214

8,560

Leasing Business , etc.

8,508

6,609

12,281

15,028

16,634

Total

16,45913,93919,81524,24325,194

Millions of yen (rounded down)

Operating income

2014/3

2015/3

2016/32017/3

2018/3 （Estimates）

Distribution Business

2,528

2,623

2,500

3,848

Leasing Business , etc.

445

329

579

755

3,569
636

Administrative and general costs, etc.

(1,725)(2,155)(2,416)(2,377)(2,705)

Total

1,248

797

663

2,226

1,500

*The figre for segment operating income are before deducting sdministrative and general costs.
Millions of yen (rounded down)◇Changes in number of brokerage
2014/3
NumberAmount of transactions

2015/3

2016/32017/3

2018/3 （Estimates）

1,702

1,281

1,278

1,314

1,270

315,726

599,371

195,137

308,884

309,530

33

Ⅴ．Principal Projects' Data
１．Building Business
OfficeThe Industry Club of Japanand
Mitsubishi UFJ Trust and Banking Building

Marunouchi Building

Marunouchi Kitaguchi Building
Tokyo Building（Marunouchi Oazo）

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Site area

Approx. 10,000㎡

Site area

Approx. 8,100㎡

Site area

Approx. 23,800㎡

Site area

Approx. 8,100㎡

Total floor area

Approx. 150,000㎡

Floor area ratio

Approx. 1700%

Business owners

Mitsubishi Estate, East Japan Railway Company,(The total number of Marunouchi Oazo)
Total floor area
Floor area ratio

Business owners

Approx. 160,000㎡
1437%

Total floor area
Floor area ratio

Mitsubishi EstateBusiness owners

Approx. 109,800㎡
Total floor area

Approx. 65,600㎡

Floor area ratio

1272%

Business owners

Mitsubishi Estate, Nippon Life Insurance Company,

1234%

Mitsubishi Estate, The Industry Club of Japan

Marunouchi Hotel, Chuo Fudosan
Schedule

2002/8 Completion

Schedule

Shin-Marunouchi Building

2003/2 Completion

Schedule

2004/8 Completion

Marunouchi Park Building and Mitsubishi Ichigokan

The Bank of Tokyo-Mitsubishi UFJ
Schedule

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Site area

Approx. 10,000㎡

Site area

Approx. 12,000㎡

Site area

Approx. 8,000㎡

Total floor area

Approx. 195,000㎡

Total floor area

Approx. 205,000㎡

Total floor area

Approx. 139,000㎡

Completion

OTEMACHI FINANCIAL CITY

Marunouchi Eiraku Building

Address

2005/10（North Tower, South Tower）
Address

Chiyoda-ku, Tokyo

Site area

Approx. 14,100㎡

Total floor area

North Tower： Approx. 110,000㎡

Floor area ratio

1570%

Business owners

North Tower：（Representative executing entity）

South Tower： Approx. 132,500㎡

Floor area ratio

1760%

Floor area ratio

1565%

Floor area ratio

1593%

Urban Renaissance Agency（Specific builder） NTT Urban Development,

Business owners

Mitsubishi EstateBusiness owners

Mitsubishi EstateBusiness owners

Mitsubishi Estate, Sumitomo Mitsui Trust Bank,

Mitsubishi Estate, Tokyo Tatemono,

The Bank of Tokyo-Mitsubishi UFJ
Schedule

2007/4Completion

Schedule

2009/4Completion

2009/9Open

2010/4

Open (Mitsubishi Ichigokan Museum)Otemon Tower JX Building

The Sankei Building
South Tower：（Joint executing entity）Mitsubishi Estate

Schedule

2012/1

Completion
Schedule

2012/10OTEMACHI FINANCIAL CITY GRAND CUBE / Hotel

Otemachi Park Building

Completion

Marunouchi 3-2 Project

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Site area

Approx. 6,900㎡

Site area

B：Approx. 9,300㎡

Site area

Approx. 11,200㎡

Site area

Approx. 9,900㎡

Total floor area

Approx. 108,000㎡

Total floor area

B：Approx. 151,700㎡

Total floor area

Approx. 207,600㎡

Total floor area

Approx. 173,000㎡

Floor area ratio

1570%

Floor area ratio

1400%

Floor area ratio

Approx. 1650%

Floor area ratio

1500%

Business owners

Mitsubishi Estate, JX Holdings

Business owners

Mitsubishi EstateBusiness owners

Mitsubishi Estate （executing entity）,

Business owners

Mitsubishi Estate,

Otemachi Development SPC

Otemachi Development, Urban Renaissance Agency

The Tokyo Chamber of Commerce and Industry,
Tokyo Kaikan

Schedule

2015/11 Completion

Schedule

2017/1 Completion

Schedule34

2016/4 Completion

Schedule

2015/11

Construction work starting

2018/10Completion

Marunouchi 1-3 Project

Tokiwabashi District Redevelopment Project

TGMM Shibaura Project

Yotsuya Station District Redevelopment Project

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Minato-ku, Tokyo

Address

Shinjuku-ku, Tokyo

Site area

Approx. 11,200㎡

Site area

Approx.31,400㎡

Site area

Approx. 10,700㎡

Site area

Approx. 17,900㎡

Total floor area

Approx. 178,600㎡

Total floor area

Building A： Approx. 140,000㎡

Total floor area

Tower Ａ： Approx. 137,600㎡

Total floor area

Approx. 139,700㎡

Business owners

Urban Renaissance Agency

Building B： Approx. 490,000㎡
Floor area ratio

1300%

Business owners

Mitsubishi Estate, Japanese Bankers Association,

Floor area ratio

1760%

Mizuho Financial Group

Business owners

Mitsubishi Estate, Bureau of Sewerage Tokyo

Hotel ： Approx. 16,400㎡

Building C： Approx. 20,000㎡
Building D： Approx. 30,000㎡

Metropolitan Government, Daiwa Securities Group,

Business owners

Mitsubishi Estate, Mitsui Fudosan

Schedule

2015/10

Construction work starting*Both Mitsubishi Estate and Fifth-phase Urban Dedevelopment

2018/5Completion

SPC are designated specified business operators.

Isetan Mitsukoshi, Tokyo Electric Power Company,
Schedule

2017/12Construction work starting

2020/9Completion

Otemachi Development, Urban Renaissance Agency
Schedule
Schedule

FY2017

Designation for Comprehensive Special Zones

for International Competitiveness.
Approval of implementation plan and rightconversion plan for the Redevelopment Project.
FY2018Commencement of Redevelopment Project

FY2022Completion （Building A, D）

FY2028Completion （Building B, C）

Yokohama Landmark Tower

Grand Front Osaka

Dai Nagoya Building

Address

Yokohama-city, Kanagawa

Address

Osaka-city, Osaka

Address

Nagoya-city, Aichi

Site area

Approx. 38,100㎡

Site area

South Annex：Approx. 10,600㎡

Total floor area

Approx. 392,900㎡

Business owners

Mitsubishi Estate

Site area

Approx. 9,200㎡

Owners'Tower：Approx. 4,700㎡

Total floor area

Approx. 148,000㎡

South Annex： Approx. 187,800㎡

Floor area ratio

1400%

Owners'Tower： Approx. 73,800㎡

Business owners

Mitsubishi Estate,

South Annex： 1600%

Schedule

2015/10 Completion

North Annex:：Approx. 22,700㎡

Total floor area

North Annex:： Approx. 295,100㎡
Schedule

1993/7

Completion
Floor area ratio

North Annex： 1150%
Owners'Tower： 1150%
Business owners

Mitsubishi Estate, NTT Urban Development,
Orix Real Estate Corporation, Obayashi Corporation,
Kanden Fudosan, Nippon Steel Kowa Real Estate,
Sekisui House, Tokyo Tatemono, Nippon Tochi-Tatemono,
Hankyu Corporation, Sumitomo Mitsui Trust Bank

Schedule

2013/2・3 Completion
2013/4

2016/9 Construction work starting
2020/1 Completion

Open

35

Toyosu Front

Shinjyuku Front Tower

Shinjuku Eastside Square

Front Place Nihonbashi

Address

Koto-ku, Tokyo

Address

Shinjuku-ku, Tokyo

Address

Shinjuku-ku, Tokyo

Address

Chuo-ku, Tokyo

Site area

Approx. 13,700㎡

Site area

Approx. 9,600㎡

Site area

Approx. 25,800㎡

Site area

Approx.1,400㎡

Total floor area

Approx. 106,900㎡

Total floor area

Approx. 94,000㎡

Total floor area

Approx. 170,200㎡

Total floor area

Approx.11,800㎡

Business owners

IHI Corporation

Business owners

Mitsubishi Estate, Heiwa Real EstateBusiness owners

Shinjuku 6-chome SPC

Business owners

Nihonbashi 2-chome development SPC

Contractor of

Mitsubishi Estate

Contractor of

Mitsubishi Estate, Nippon Tochi-Tatemono,Contractor of

Mitsubishi EstateToyosu 3-1 SPC
Contractor of

Mitsubishi Estatedevelopment

development

Schedule

2010/8 Completion

Addressdevelopment

Schedule

2011/5 Completion

Minato-ku, Tokyo

Address

Site area

Approx. 1,100㎡

Total floor area
Business owners

development

Schedule

2012/4 Completion

Schedule

2014/2 Completion

Koto-ku, Tokyo

Address

Shibuya-ku, Tokyo

Address

Nagoya City, Aichi

Site area

Approx. 16,200㎡

Site area

Approx. 900㎡

Site area

Approx. 4,600㎡

Approx. 8,700㎡

Total floor area

Approx. 101,500㎡

Total floor area

Approx. 5,900㎡

Total floor area

New building: Approx. 45,400㎡

Mec Urban Dedevelopment First-phase SPC

Business owners

IHI Corporation

Business owners

Sendagaya 5-chome SPC

Shiba Front Building

TOYOSU FORESIA

Front Place Minami-Shinjuuku

Nishiki 2-chome Project

Preserved building： Approx. 5,000㎡
Toyosu 3-chome Development SPC
Contractor of

Mitsubishi Estatedevelopment

Contractor ofContractor of

Mitsubishi Estate

Nagoya Development SPC, Sekisui House

Contractor of

Mitsubishi Estate

Mitsubishi Estatedevelopment

development
Schedule

Business owners

development

2014/6 Completion
Schedule

2014/7

Completion

Schedule36

2015/9 Completion

Schedule

2018/2 Completion

２．Lifestyle Property Business
RetailMARK IS minatomirai

MARK IS shizuoka

AQUA CITY ODAIBA

Address

Yokohama-city, Kanagawa

Address

Shizuoka City, Shizuoka

Address

Minato-ku, Tokyo

Site area

Approx.18,000㎡

Site area

Approx. 26,000㎡

Site area

Approx. 25,000㎡

Total floor area

Approx.114,200㎡

Total floor area

Approx. 118,000㎡

Total floor area

Approx. 94,000㎡

Store area

Approx.43,000㎡

Store area

Approx. 36,000㎡

Store area

Approx. 42,500㎡

Schedule

2013/6 OpenBusiness owners

Higashi-Shizuoka 15-gaiku Development SPC

Business owners

Mitsubishi Estate, Aqua City Investment SPC

Schedule

2013/4 Open

Schedule

2000/4 OpenGOTEMBA PREMIUM OUTLETS®

所在

RINKU PREMIUM OUTLETS®

SANO PREMIUM OUTLETS®

Gotemba City, Shizuoka

Address

Izumisano City, Osaka

Address

Sano City, Tochigi

Approx. 406,500㎡

Site area

Approx. 86,500㎡

Site area

Approx. 174,600㎡

Approx. 49,900㎡

Total floor area

Approx. 49,900㎡

Total floor area

Approx. 39,900㎡

Approx. 44,600㎡

Store area

Approx. 39,400㎡

Store area

Approx. 37,300㎡

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

2000/7 Open (First phase)

Schedule

2000/11 Open (First phase)

Schedule

Address
Site area
Total floor area
Store area

Business owners
Schedule

2003/7 Open (Second phase)
2008/3 Open (Third phase)

2002/3 Open (Second phase)

2003/3 Open (First phase)
2004/7 Open (Second phase)

2004/12 Open (Third phase)

2006/3 Open (Third phase)

2012/7 Open (Fourth phase)

2008/7 Open (Fourth phase)37

TOSU PREMIUM OUTLETS®

TOKI PREMIUM OUTLETS®

KOBE-SANDA PREMIUM OUTLETS®

Address

Tosu City, Saga

Address

Toki City, Gifu

Address

Kobe City, Hyogo

Site area

Approx. 134,200㎡

Site area

Approx. 284,600㎡

Site area

Approx. 316,800㎡

Approx. 32,600㎡

Total floor area

Approx. 41,300㎡

Total floor area

Approx. 49,600㎡

Total floor area

ﾎｰｸｽ

Store area

Approx. 28,200㎡

Store area

Approx. 35,200㎡

Store area

Approx. 2,200㎡

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Schedule

2004/3 Open (First phase)

Schedule

2005/3 Open (First phase)

Schedule

2007/7 Open (First phase)

2007/12 Open (Second phase)

2006/10 Open (Second phase)

2009/12 Open (Second phase)

2011/7 Open (Third phase)

2010/7 Open (Third phase)

2012/12 Open (Third phase)

2014/11 Open (Fourth phase)

SENDAI-IZUMI PREMIUM OUTLETS®

AMI PREMIUM OUTLETS®

SHISUI PREMIUM OUTLETS®

Address

Sendai City, Miyagi

Address

Inashiki, Ibaraki

Address

Inba-gun, Chiba

Site area

Approx. 43,700㎡

Site area

Approx. 211,100㎡

Site area

Approx. 420,900㎡

Total floor area

Approx. 20,300㎡

Total floor area

Approx. 34,800㎡

Total floor area

Approx. 40,200㎡

Store area

Approx. 15,300㎡

Store area

Approx. 30,700㎡

Store area

Approx. 35,600㎡

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Schedule

2008/10 Open (First phase)

Schedule

2009/7 Open (First phase)

Schedule

2011/12Open (Second phase)

Logistics
Logicross Fukuoka Hisayama

Logicross Atsugi

Address

Kasuya, Fukuoka

Address

Atsugi City, Kanagawa

Site area

Approx. 18,100㎡

Site area

Approx. 14,800㎡

Total floor area

Approx. 40,000㎡

Total floor area

Approx. 29,900㎡

Business owners

Mitsubishi EstateBusiness owners

Atsugi development SPC

Schedule

2014/10 Completion

Schedule

2017/3Completion38

2013/4

Open (First phase)

2015/4

Open (Second phase)３．Residential Business
Principal projects(Scheduled for completion in FY2017)
Scheduled for completion

Business owners

The Parkhouse Harumi Towers Tiaro Residence

Projects

Chuo-ku, Tokyo

Address

Total units
861

Approx. 15,000㎡

2016/4

Mitsubishi Jisho Residence, Kajima Corporation

The Parkhouse Hanakoganei Garden

Kodaira-city Tokyo

468

Approx. 17,900㎡

2016/7（BlockⅠ）
2017/1（BlockⅡ）

Mitsubishi Jisho Residence

The Parkhouse GRAN Minami-Aoyama

Minato-ku, Tokyo

101*

Approx. 4,900㎡

2016/8The Residence Tsudanuma Kanadenomori terrace

Narashino City, Chiba

291

Approx. 11,200㎡

2016/9Mitsubishi Jisho Residence,Nomura Real Estate
Development,Mitsui Fudosan Residential

Site area

Supplemental

Mitsubishi Jisho Residence, Mitsubishi Logistics, Tokyo Tatemono *20 units for general sale

The Parkhouse Funabori

Edogawa-ku, Tokyo

254

Approx. 6,000㎡

2016/9Mitsubishi Jisho Residence, Toshin Development

The Parkhouse Kokubunji-Ryokutei

Kokubunji City, Tokyo82

Approx. 2,900㎡

2016/10

Mitsubishi Jisho Residence

Kachidoki The Tower

Chuo-ku, Tokyo

1,420*

Approx. 10,900㎡

2016/12The Parkhouse Minamiurawa Garden

Saitama City Saitama

104

Approx. 2,000㎡

2017/1

Mitsubishi Jisho Residence

The Parkhouse Sirokane Chojamaru

Shinagawa-ku, Tokyo

34*

Approx. 2,500㎡

2017/2

Mitsubishi Jisho Residence*27 units for general sale

The Parkhouse Kyoto Kamogawa Gosho-Higashi

Kyoto City, Kyoto

85*

Approx. 5,100㎡

2017/3

Mitsubishi Jisho Residence*75 units for general sale

Mitsubishi Jisho Residence, Kajima Corporation, Mitsui Fudosan
Residential, Sumitomo Corporation, Nomura Real Estate*1318 units for general sale
Development

Principal projects(Scheduled for completion in FY2018)
Projects

Address

Total units

Site area

Scheduled for completion

Business owners*777 units for general sale*149 units for general sale

Supplemental

The Parkhouse Nishi Shinjuku Tower 60

Shinjuku-ku, Tokyo

954*

Approx. 7,500㎡

2017/7

Mitsubishi Jisho Residence, Sotetsu Real Estate, Marubeni
Corporation

The Parkhouse Nakano Tower

Nakano-ku, Tokyo

178*

Approx. 1,900㎡

2017/7

Mitsubishi Jisho Residence,Funenkousha

The Parkhouse Shinjuku Gyoen

Shinjuku-ku, Tokyo

52

Approx. 5,700㎡

2017/9Mitsubishi Jisho Residence

The Parkhouse Nakanoshima Tower

Osaka City, Osaka894

Approx. 6,600㎡

2017/10

Mitsubishi Jisho Residence, Sumitomo Corporation, Keihan Real
Estate, Asahi properties

Brillia THE TOWER TOKYO YAESU AVENUE

Chuo-ku, Tokyo

387

Approx. 3,000㎡

2017/10

Mitsubishi Jisho Residence,vTokyo Tatemono

The Parkhouse Chiyoda Kojimachi

Chiyoda-ku, Tokyo

77*

Approx. 1,000㎡

2017/11

Mitsubishi Jisho Residence*55 units for general sale

The Parkhouse Yamabuki Kagurazaka

Shinjuku-ku, Tokyo108*

Approx. 2,300㎡

2017/11

Mitsubishi Jisho Residence*86 units for general sale

Rokakoen The Residence

Setagaya-ku, Tokyo

389

Approx. 15,300㎡

2018/1

Mitsubishi Jisho Residence, Nomura Real Estate Development,
Secom Homelife

The Parkhouse Kokubunji Shiki no Mori

Kokubunji City, Tokyo

494

Approx. 19,000㎡

2018/1（Forest）
2018/8（Garden）

Mitsubishi Jisho Residence,Tokyo Tatemono,Daiei Real Estate &Development

The Parkhouse Higashitotsuka Residence

Yokohama City, Kanagawa

237

Approx. 9,400㎡

2018/3

Mitsubishi Jisho Residence, Keikyu Corporation

Scheduled for completion

Business owners

Principal projects(Scheduled for completion after FY2019)
Projects

Address

Total units

Site area

The Parkhouse Shirokane 2-chome Tower

Minato-ku, Tokyo

172

Approx. 2,900㎡

2018/5

Mitsubishi Jisho Residence, Nomura Real Estate Development

The Parkhouse Sakurazaka Sunriant

Fukuoka City Fukuoka

322

Approx. 12,700㎡

2018/8Mitsubishi Jisho Residence,Nishi-Nippon Railroad

The Parkhouse Kanazawa Bunko

Yokohama City, Kanagawa

323

Approx. 8,000㎡

2018/11

Mitsubishi Jisho Residence, Obayashi-Shinseiwa Real Estate, Sojitz
New Urban Development

Makuhari Bay Towers Project

Chiba City, Chiba

497

Approx. 17,100㎡

2018/12

Mitsubishi Jisho Residence, Mitsui Fudosan Residential, Nomura
Real Estate Development, Itochu Property Development, Toho
Jisho, Fujimi-Jisyo, Sodegaura Kogyo

39

Supplemental

４．International Business
1271 Avenue of the Americas

1221 Avenue of the Americas

745 7th Avenue

Address

Manhattan, New York, U.S.A.

Address

Manhattan, New York, U.S.A.

Address

Owner

Rockefeller Center North, Inc.

Owner

Rock-1221, Inc.

Owner

Mitsubishi Estate 100%

Mitsubishi Estate
Others55%

Flushing Commons Development Project

Manhattan, New York, U.S.A.

Address

Queens, New York, U.S.A.

Rock-Forty-Ninth, LLC

Developer

RGII, F&T Group, Aecom Capital(Limited proprietary right of land)

Building use

Office, Residence, Retail, Parking

Mitsubishi Estate 100%45%

Site area

Approx. 8,950㎡

Site area

Approx. 10,100㎡

Site area

Approx. 6,000㎡

Site area

Approx. 6,300㎡ （First phase）

Leasable area

Approx. 195,000㎡

Leasable area

Approx. 240,700㎡

Leasable area

Approx. 97,500㎡

Total floor area

Approx. 37,200㎡ （Firstphase）

Schedule

1959 Completion

Schedule

1972 Completion

Schedule

2002 Completion

Schedule

2014 Construction work starting
2016 Completion（Office Tower）
2017 Completion (Residence Tower）

Participation

1990

Participation

1990

Address

Los Angeles, California, U.S.A.

Address

Owner

UTA Plaza: UTA Plaza LLC

Participation

1998

Boston, Massachusetts, U.S.A.

Address

Fort Lauderdale, Florida, U.S.A.

Owner

28 State Street LLC

Developer

RGII, Stiles Residential Group

Building use

Leasing, Residential

Site area

Approx. 5,000㎡

Total floor area

Approx. 28,800㎡

UTA Plaza & The Ice House

28 State Street

Participation

2013

London, U.K.

Amaray Las OlasThe Ice House： Ice House Beverly Hills LLC
Site area

Approx. 13,800㎡

Site area

Approx. 3,100㎡

Leasable area

Approx. 21,900㎡

Leasable area

Approx. 53,200㎡

Schedule

1985 Completion (UTA Plaza) *Refurbished in 2012

Schedule

1968 Completion *Refurbished in 1997

1925 Completion (The Ice House) *Refurbished in 20142014 Acquisition

Schedule

2014 Acquisition
Participation

2014

Address
Owner2014 Construction work starting
2016 Completion

Participation

2014

Participation

2014

London, U.K.

Address

London, U.K.

Address

London, U.K.

Address

Mitsubishi Estate London Limited

Owner

Mitsubishi Estate London Limited

Owner

Central Saint Giles Limited Partnership

Owner

Paternoster Square*

Central Saint Giles

8 Finsbury Circus*

Mitsubishi Estate 100%

Mitsubishi Estate 100%

1 Victoria Street

Mitsubishi Estate 50%

Mitsubishi Estate London Limited
Mitsubishi Estate 100%

L&G 50%Site area

Approx. 2,200㎡

Building１（Warwick Court）

Site area

Site area

Approx. 3,300㎡

Leasable area

Approx. 15,700㎡

Leasable area

Approx. 18,500㎡

Schedule

2007 Acquisition
2016 Completion

Site area

Approx. 7,900㎡

Leasable area

Approx. 31,200㎡

Schedule

1960s

Approx. 7,900㎡

Leasable area

Approx. 38,800㎡ (Not including residential)

Schedule

2010 Completion

Participation2007

2013 Acquisition*Buildings 2 and 3 were sold.
Participation
Schedule

2003 Completion

Participation

1990

2007

Participation*Former name "River Plate House"

40

2013

150 Leadenhall Street

6-8 Bishopsgate

Clive House

Address

London, U.K.

Address

London, U.K.

Address

Owner

MEC London Property Limited Partnership

Owner

MEC London Property 2 Limited Partnership

Owner

Mitsubishi Estate 100%

Mitsubishi Estate 100%

46 Rue La Boétie

London, U.K.

Address

Mitsubishi Estate London Limited

Owner

Mitsubishi Estate 100%

Paris, France
46 Boetie Property SARL
Mitsubishi Estate 100%

Site area

Approx. 1,000㎡

Site area

Approx. 1,700㎡

Site area

Approx. 1,800㎡

Site area

Approx. 580㎡

Leasable area

Approx. 5,200㎡

Leasable area

Approx. 13,400㎡

Leasable area

Approx. 8,000㎡

Leasable area

Approx. 2,400㎡

Schedule

1977 Completion

Schedule

1979 Completion

Schedule

1930s Completion *Refurbished in 2003

Schedule

2011 Acquisition
Participation

2011

Address
Developer

2011 Acquisition
Participation

2011

Singapore

Address

CapitaLand Singapore Limited 65%

Developer

Participation

2013

Ho Chi Minh City, Vietnam

Address

CapitaLand Vietnam Investments Pte. Ltd. 50%

Developer

Sky Habitat

Site area

2013 Acquisition

1964 Completion *Refurbished in 20082014 Acquisition

Participation

2014

Bangkok, Thailand

Address

Jakarta, Indonesia

AP (Thailand) Public Company Ltd. 51%

Developer

ParcSpring/ The Krista

RHYTHM Sukhumvit 36-38

Daswin Project

The Gesit Companies

Mitsubishi Estate 25%

Mitsubishi Estate 25%

Mitsubishi Estate 24.5%

Santini Group

Shimizu Corporation 10%

GIC 25%

Mitsubishi Jisho Residence 24.5%

Mitsubishi Estate

Approx. 12,000㎡

Site area

Approx. 16,000㎡

Site area

Approx. 4,300㎡

Site area

Approx. 16,000㎡

Total floor area

Approx. 58,800㎡

Total floor area

Approx. 87,000㎡

Total floor area

Residence

Total floor area

Approx. 132,400㎡

Building use

Residence

Building use

Residence

Schedule

2016 Completion

Building use

OfficeSchedule

2015 Completion

Schedule

2014 Completion（First-phase）

Participation2013

Schedule

2017 Construction began
2020 Completion2017 Completion（Second-phase）
Participation

2011

Participation

2010

Address

Shanghai, China

Address

Chengdu, China

Address

Developer

Marubeni Corporation 35%

Developer

CapitaLand Township 70%

Developer

Shanghai Jiading District Project

Participation

Chengdu Project

Mitsui Fudosan Residential 35%

Mitsubishi Estate 22.5%

Mitsubishi Estate 25%

Mitsubishi Jisho Residence 7.5%

Taipei Nangang Project
Taipei, Taiwan
Ruentex Development 80%
Mitsubishi Estate 20%

Tairo 5%
Building use
Building use

Residence, Retail, Parking

Schedule

2013 Construction began

Participation

2011

Schedule

Residence, Retail, Parking

Building use

2012 Construction began

Schedule

2019 Completion

Office, Hotel, Retail, Parking
2012 Construction began
2015 Open2017 Completion
Participation

2012

Participation

41

2013

2016