August 8, 2024
Financial Highlights for FY2024 – 1Q
(The Fiscal Year Ending March 31, 2025)
Mitsubishi Estate Co., Ltd.
Highlights＜ FY2024-1Q Results＞･Operating Profit was ¥51.7 billion and Profit Attributable to Owners of Parent was ¥25.9billion.
Both increased year-on-year.
<Progress of full-year forecasts>･Office leasing, retail and hotels are all performing well and making steady progress toward
the full-year forecasts.
Capital gains are expected to be recorded in the second half.
＜ Shareholder return policy: Long-term management plan review >(Dividends)Dividend forecast for FY2024: ¥43 per share.
Progressive dividend payments of ¥3 for every fiscal year is introduced (until FY2030).
(Share buyback)¥50 billion share buyback is decided in FY2024. ( To be canceled on completion)
Until FY2026, same level of share buyback is expected every fiscal year.
Share buy-back amount as of July 31, 2024: ¥21.8 billion●Earnings for FY 2024-1Q (Consolidated)
FY2024-1Q
Results
Operating Revenue
Commercial Property Business
Marunouchi Property BusinessResidential Business
International Business
Investment Management Business
Operating ProfitOrdinary Profit
Total income taxes

FY2023-1Q
Results

Millions of yen (rounded down)
Percentage
FY2024 Forecasts（May2024.Disclosed)
ChangeChange328,239
21,64723,997
2,922
6,444
837
51,79843,79418,507

292,465
18,78327,242(1,813)8,860
1,214
48,40043,63022,95335,774
2,864(3,245)
4,735(2,415)
(376)
3,397
163
(4,446)

12.2%
15.2%
(11.9%)(27.3%)(31.0%)
7.0%
0.4%(19.4%)

1,596,000
110,000
90,00040,00070,00013,000300,000
252,000
92,000

Profit Attributable to NonControlling Interests

4,908

4,118

790

19.2%

13,000

Profit Attributable to Owners ofParent

25,941

19,269

6,672

34.6%

173,000【 Commercial Property Business】
Office, hotel and retail properties each performed well and increased profit year-on-year.
【 Marunouchi Property Business】
Office leasing continued to perform well, with vacancy rates 1.83%, despite a year-on-year decline inprofits due to building closures in preparation for redevelopment.

Vacancy rates

2024/3Results

2024/6
Results

2025/3
Forecasts

Japan (offices)

3.30%

3.00%

3.5%

Marunouchi (offices)

2.33%

1.83%

【 Residential Business】
Year-on-year increase in profit due to larger profit from condominiums for sale in Japan【 International Business】
Year-on-year decrease in profit due to lower capital gains.
【 Investment Management Business】
Year-on-year decrease in profit due to one-off expenses.
● Earnings Estimates for FY2024 (Consolidated)
There is no change in the earnings estimates announced on May 10, 2024.
Disclaimer
The forecasts contained in this report, the Summary of Consolidated Financial Statements, and FACTSHEETS are based on information available to the Company at the time of disclosure. Therefore, actual
performance may differ from such forecasts due to various factors.
This English translation is solely for reference purposes only and not a legally definitive translation of theoriginal Japanese text. In the event a difference arises regarding the meaning herein, the original Japaneseversion will prevail as the official authoritative version.
The summary of Financial Statements and Fact Sheets can be found on the homepage.
◇https://www.mec.co.jp/en/ir/library/(End)