■May 10, 2024

MITSUBISHI ESTATE CO., LTD.

Fact Sheet FY2023(The Fiscal Year Ending on March 31, 2024)
Definition of Term（Changes from previous versions）“FY2023” means the Group’s fiscal year ended March 31, 2024, and other fiscal years mean in a corresponding manner.
Disclaimer
This Fact Sheet contains predictions and aims which relate to, without limitation, our future economic performance, our plans and objectives for future operations andprojections 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.

Inquiries: MITSUBISHI ESTATE CO., LTD.
Investor Relations Office
TEL: +81-3-3287-5200
FAX: +81-3-3212-3757
https://www.mec.co.jp/en/ir/

Income Statement Results for FY2023 and FY2022
Millions of yen (rounded down)

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

FY2023Results

FY2022
Results

FY2023Results

FY2022
Results

Commercial Property Business

849,771

777,424

72,346

Gain on sale of non-current assets

10,381

8,921

1,460

Residential Business

398,827

346,419

52,407

Gain on sale of investment securities

30,2803,303

26,977

International Business

173,770

176,130(2,360)Gain on amortization of negative goodwill

4,850

-

4,850

Investment Management Business

30,96235,878(4,915)

Total

45,513

12,22433,288Architectural Design & Engineering Business and Real Estate Services Business

73,26560,774

12,491Other

11,00911,801(792)

Eliminations

ChangeChangeMillions of yen (rounded down)■ Breakdown of Extraordinary losses(32,918)(30,602)(2,316)

1,504,687

1,377,827

126,860

Commercial Property Business

211,795

188,852

22,943

Loss related to retirement of non-current assets-

17,741(17,741)

Residential Business

38,88835,037

3,851

Loss on valuation of shares of subsidiaries and associates

-

2,599

(2,599)International Business

51,44889,400(37,952)

Impairment losses

-

3,535

(3,535)Investment Management Business(1,619)8,054(9,673)

Loss on valuation of equity investments

12,138

7,264

4,874

Total

12,13831,141(19,002)

Operating Revenue

Architectural Design & Engineering Business and Real Estate Services Business

9,021

4,176

4,844

Other

(1,577)(2,121)544

Eliminations or Corporate(29,328)(26,696)(2,632)

Operating Profit

278,627

296,702(18,075)

Non-operating income

15,80914,361

1,448

308

260

47

(Share of profit of entities accounted for using equity method)

FY2023Results

FY2022
Results

ChangeMillions of yen (rounded off to the nearest billion)■ Capital Gains included in Operating profit (Before G&A)

FY2023Results

FY2022
Results

Commercial Property Business

52,00042,000Change10,000Non-operating expenses

53,27839,244

14,034

Residential Business

23,00024,000(1,000)Ordinary Profit

241,158

271,819(30,661)International Business

32,00061,000(29,000)

Extraordinary income

45,513

12,22433,288

Total

107,000

127,000(20,000)

Extraordinary losses

12,13831,141(19,002)*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

Profit before Income Taxes

274,532

252,902

21,629Total income taxes

98,131

70,63427,496

Profit176,401

182,268(5,866)

7,968

16,924(8,956)

168,432

165,343

3,089

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

Millions of yen (rounded down)■ Business profit
Business profit

FY2023Results

FY2022
Results

278,935

296,962

Change(18,027)*Business profit: Operating profit + Share of profit of entities accounted for using equity method2Current Income Statement Forecasts for FY2024 and Results for FY2023
Millions of yen (rounded off to the nearest billion)

Millions of yen (rounded down)＜New Segment*＞

FY2024
Forecasts

FY2023Results■ Capital Gains included in Operating profit (Before G&A)

ChangeFY2024
Forecasts

FY2023Results

ChangeCommercial Property Business

519,000

499,138

19,862

Commercial Property Business

45,00052,000(7,000)Marunouchi Property Business

382,000

381,027

973

Residential Business

20,00023,000(3,000)Residential Business

392,000

398,827(6,827)

International Business

45,00032,00013,000International Business

245,000

173,770

71,230

Total

110,000

107,000

3,000

Investment Management Business

39,00030,962

8,038*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

Architectural Design & Engineering Business and Real Estate Services Business

74,00073,265735

Other12,00011,009991

Eliminations(67,000)(63,313)(3,687)

1,596,000

1,504,687

91,313110,000

114,730(4,730)Business profit*Business profit: Operating profit + Share of profit of entities accounted for using equity method

Operating Revenue
Commercial Property Business
Marunouchi Property Business

90,00097,082(7,082)

Residential Business

40,00038,8881,112International Business

70,00051,44818,552

Investment Management Business

13,000(1,619)14,619Architectural Design & Engineering Business and Real Estate Services Business

7,000

9,021

(2,021)Other(2,000)(1,577)(423)

Eliminations or Corporate(28,000)(29,346)

1,346

Operating Profit

300,000

278,627

21,373Non-operating income

12,00015,809(3,809)

300

308

(8)

(Share of profit of entities accounted for using equity method)

Non-operating expenses

60,00053,278

6,722

Ordinary Profit

252,000

241,158

10,842(7,374)Extraordinary income / losses

26,00033,374

Profit before Income Taxes

278,000

274,532

3,468

Total income taxes

92,00098,131(6,131)

Profit186,000

176,401

9,599

Profit attributable to non-controlling interests

13,000

7,968

5,032

Profit Attributable to Owners of Parent

173,000

168,432

4,568

Millions of yen (rounded down)■ Business profit

FY2024
Forecasts

FY2023Results

300,300

278,935

Change21,365*From FY2024, the former Commercial Property Business group is split into the Commercial Property Business group and the Marunouchi Property Business group.

3

Balance Sheet Results
Millions of yen (rounded down)

At Mar 31, 2024

At Mar 31, 2023

Millions of yen (rounded down)

ChangeAssetsAt Mar 31, 2024

At Mar 31, 2023

ChangeLiabilities

I. Current assets
1. Cash and deposits
2. Trade notes accounts receivable, and contract assets
3. Securities
4. Real estate for sale273,951
89,174
4,752
53,792225,01169,987
3,578
65,252

48,93919,187
1,173(11,460)

I. Current liabilities
1. Trade notes and accounts payable
2. Short-term borrowings
3. Current portion of long-term borrowings
4. Current portion of bonds payable

87,094
231,378
93,261
81,111

66,407
194,881
210,087
26,635

20,68736,497(116,825)
54,476

5. Real estate for sale in process
6. Real estate for development

453,008719

420,956719

32,051-

5. Income taxes payable
6. Other current liabilities

49,257329,344

23,574
333,752

25,683(4,407)

7. Costs on construction contracts in progress
8. Other inventories
9. Equity investments

4,955
1,358
962,175

5,201
1,413
716,416(246)(54)
245,758

871,447855,337

16,110

II. Non-current liabilities
1. Bonds payable

799,472

820,584(21,111)

10. Other current assets
11. Allowance for doubtful accounts

101,985(785)

108,723(659)(6,738)(125)

2. Long-term borrowings
3. Leasehold and guarantee deposits received

1,931,400
450,325

1,618,019
448,442

313,380
1,882

Total current assets
II. Non-current assets
1. Property, plant and equipment(1) Buildings and structures(2) Machinery, equipment and vehicles(3) Land(4) Land in trust(5) Construction in progress(6) Other property, plant and equipment
Total property, plant and equipment
2. Intangible assets(1) Leasehold interests in land
(2) Other intangible assets
Total intangible assets
3. Investments and other assets(1) Investment securities(2) Long-term loans receivable(3) Leasehold and guarantee deposits(4) Retirement benefit asset(5) Deferred tax assets(6) Other investments

1,945,088

1,616,602

328,485

4. Deferred tax liabilities
5. Deferred tax liabilities for land revaluation
6. Retirement benefit liability

1,305,376
25,462
2,403,359
540,882
297,382
24,651
4,597,114

1,222,991
27,9092,335,460
575,648
228,955
25,2494,416,214

82,384(2,446)67,899(34,765)
68,427(598)
180,900

7. Provision for retirement benefits for directors (and other officers)

357,466
264,082
27,424406
58,533
198,594
4,087,707
4,959,155

288,861
264,082
27,644478
582
60,413
107,568
3,636,680
4,492,017

68,604
(220)
(72)
(582)
(1,880)91,025451,027
467,137

77,192
27,551
104,743

81,74529,441
111,187(4,553)(1,890)(6,444)434,243
5,078
151,033
126,652
29,608
191,404

306,352
2,559
144,070
62,52825,943
187,095

127,891
2,518
6,962
64,123
3,664
4,309

142,414
156,961
1,265,749(102,071)
1,463,054

142,414
157,914
1,147,425(48,454)
1,399,299(953)
118,324(53,616)
63,754

225,396(226)
526,417
132,469

138,5522,106
526,417
77,48986,844(2,332)
54,979(7) Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets(1,219)936,8025,638,660
7,583,748(596)
727,954
5,255,356
6,871,959(622)
208,847
383,303711,789

53,995
938,05271
223,4142,624,593
7,583,748

13,695758,261
193
222,187
2,379,941
6,871,959

40,299179,790(121)
1,227
244,651
711,789

Total current liabilities

8. Provision for environmental measures
9. Negative goodwill
10. Other non-current liabilities
Total non-current liabilities
Total liabilities
Net assets
I. Shareholders' equity
1. Share capital
2. Capital surplus
3. Retained earnings
4. Treasury shares
Total shareholders' equity
II. Accumulated other comprehensive income
1. Valuation difference on available-for-sale securities
2. Deferred gains or losses on hedges
3. Revaluation reserve for land
4. Foreign currency translation adjustment
5. Remeasurements of defined benefit plans
Total accumulated other comprehensive income
III. Share acquisition rights
IV. Non-controlling interests
Total net assets
Total liabilities and net assets

4Assets Breakdown (Consolidated)
Millions of yen (rounded down)
At Mar 31, 2024

At Mar 31, 2023

ChangeCondominium (domestic)

380,572

344,572

36,000International

16,15027,611(11,461)

US

5,420

17,697(12,277)---

Inventories

EuropeAsia

10,730

9,913

817

117,112

121,361(4,249)513,834

493,544

20,290

Domestic Office Building

72,50056,81015,690

Domestic (other)

110,154

80,97529,179International

779,520

578,630

200,890US

365,304

298,349

66,955

Europe42,62042,957(337)

371,595

237,323

134,272

962,175

716,416

245,758

3,128,790(64,285)

Other
Total inventories
Equity investments

Asia
Total equity investments
Property, plant and equipment
Office Building (Commercial Property Business)*

981,816

Office Building (Marunouchi Property Business)*

2,082,689

Outlet Mall

134,625

137,313(2,688)Logistics Facility

186,837

106,355

80,482Retail Property (Except Outlet Mall)

120,264

143,054(22,790)

Rental Apartment

156,236

146,896

9,340

International

669,789493,339

176,450US362,259

262,495

99,764

Europe279,718

215,741

63,977

Asia
Other
Total property, plant and equipment

27,811

15,103

12,708

264,858

260,467

4,391

4,597,114

4,416,214

180,900*From FY2024, the former Commercial Property Business group is split into the Commercial Property Business group and the Marunouchi Property Business group.

5Cash Flow Statements
Millions of yen (rounded down)①FY2022 Results②FY2023 Results

Change（②-①）③FY2024 (Forecasts)

Change（③-②）

Profit before income taxes

252,902274,532

21,629278,000

3,468

Adjustment for extraordinary income or loss

13,756(26,897)(40,654)(21,000)

5,897

Depreciation

93,45998,301

4,841

101,000

2,699

Decrease (increase) in inventories

7,462

130,702123,240

194,000

63,298Decrease (increase) in equity investments(5,399)(184,048)(178,648)(98,000)

86,048

Other(27,960)

80,293

108,253(75,000)(155,293)

Income taxes refund (paid)(64,305)(65,634)(1,328)(100,000)(34,366)

269,914307,249

37,334

279,000(28,249)

Proceeds from sale and redemption of investment securities

7,717

41,38833,670

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

17,04768,04050,993

Capital investment(286,523)(451,402)(164,879)(572,000)(120,598)

Other(50,288)(20,044)

30,24347,00067,044(312,046)(362,017)(49,971)(525,000)(162,983)

Newly acquired funds

309,326

443,571

134,245582,000

138,429

Repayment(175,040)(239,560)(64,519)(302,000)(62,440)

Cash dividends paid

(70,426)(67,182)

3,243(71,000)(3,818)

Repurchase and disposal of own shares(45,822)(54,260)(8,438)(50,000)

4,260

Other

12,42017,8655,444(41,000)(58,865)

30,457

100,433

69,976

118,000

17,567

225,772

275,965

50,192150,000(125,965)(42,132)(54,768)(12,636)(246,000)(191,232)

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities
Cash and cash equivalents at end of period
Free cash flow

6

Business Data
１. Office Building Data (Consolidated)
Contracted area

(Thousands of square meters)

At Mar 31, 2020

At Mar 31, 2021

At Mar 31, 2022

At Mar 31, 2023

At Mar 31, 2024
4,030

4,120

4,147

4,151

4,006

Owned by MEC

2,592

2,543

2,559

2,490

2,376

Subleases

1,528

1,604

1,592

1,516

1,654

２. Office Building Data (Unconsolidated)(Thousands of square meters)

At Mar 31, 2020

At Mar 31, 2021

At Mar 31, 2022

At Mar 31, 2023

At Mar 31, 2024

At Mar 31, 2025
(Forecasts)

Owned by MEC

3,736

3,732

3,765

3,664

3,558

3,635

Subleases

2,133

2,259

2,275

2,141

2,252

2,335

Total

5,869

5,991

6,040

5,804

5,810

5,970

(2) Leasable area

3,726

3,807

3,834

3,709

3,726

3,769

(3) Vacancy rate (All uses in Japan*)

1.07 ％

2.35 ％

3.29 ％

3.73 ％

3.45 ％

-％

-

-

-

-

3.30 ％

3.5 ％(1) Total operating floor space(4) Vacancy rate (Office in Japan)* Including retail area etc. in office building

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

At Mar 31, 2020

At Mar 31, 2021

At Mar 31, 2022

At Mar 31, 2023

Operating floor space

2,915

2,952

3,026

2,920

2,805

Leasable area

1,751

1,773

1,820

1,745

1,683

Office vacancy rate

0.69 ％

Building lease revenue

2.50 ％

3.33 ％

2.43 ％At Mar 31, 2024

2.33 ％

243,457

247,558

256,707

252,486

255,773

FY2019FY2020

FY2021

FY2022

FY2023

FY2024 (Forecasts)

４. Domestic Condominium Business Data
*1*3

206,684

207,004

216,231

117,792

159,965

156,000

Condominiums sold (units)

3,214

3,476

3,046

1,596

2,271

1,750

Gross margin*2*3

19.3 ％

20.1 ％

22.5 ％

26.1 ％

25.9 ％

29.0 ％

Inventory (units)

373

213

62

61

53

-

2,924

2,350

2,131

2,157

2,195

1,550

Condominium contract balance (Millions of yen)

162,141

140,455

100,026

194,301

230,369

Contract Progress Rate

The following fiscal year share (Millions of yen)

130,195

139,475

70,210125,275

128,94284.2 ％

29,81669,026

101,427-

Condominiums sold (Millions of yen)

New supply of condominiums (units)

The post following fiscal year share (Millions of yen)
31,946980*1 Sales = Sales of new condominiums + supplementary revenue relating to condominiums*2 Gross profit = Sales - COGS (land acquisition and development costs, building construction costs, etc.)*2 Gross profit margin = Gross profit ÷ Sales*3 From FY2021, the definition of sales has been changed (supplementary revenue relating to condominiums is added), and the changed figures are shown,including the results of previous years.

7

Main Financial Data
Millions of yen (rounded down)
FY2019FY2020

FY2021

FY2022

FY2023

FY2024 (Forecasts)

1,302,196

1,207,594

1,349,489

1,377,827

1,504,687

1,596,000

Operating profit

240,768

224,394

278,977

296,702

278,627

300,000

Ordinary profit

219,572

210,965

253,710

271,819

241,158

252,000

Profit attributable to owners of parent

148,451

135,655

155,171

165,343

168,432

173,000

Total assets

5,858,236

6,072,519

6,493,917

6,871,959

7,583,748

7,800,000

Inventories

329,305

364,834

347,388493,544513,834-

4,204,019

4,280,988

4,454,082

4,527,401

4,701,858-

Operating revenue
PL

Non-current assets (Property, plant and equipment and Intangible assets)

BSInterest-bearing debt

2,429,883

2,526,142

2,738,632

2,871,677

3,138,195

3,300,000

Net interest-bearing debt

2,216,874

2,353,835

2,504,387

2,645,905

2,862,229

3,150,000

0.93 ％

Average interest rate
Shareholders' equity*1
Cash flow from operating activities(Depreciation)
CF

Indicator

Cash flow from investing activities(Capital investment)

0.79 ％

0.89 ％

1.20 ％

1.55 ％

1,851,899

2,003,225

2,157,561

2,401,106

2,400,000

341,766

207,414280,090269,914307,249

279,000

84,941

89,107

91,581

93,45998,301

101,000(277,440)(297,303)(313,778)(312,046)(362,017)(525,000)(572,000)(331,857)(319,841)(329,115)(286,523)(451,402)

Cash flow from financing activities(28,886)

50,42590,97330,457

100,433

118,000

Free cash flow

64,326(89,889)(33,687)(42,132)(54,768)(246,000)

Business profit*2

240,998

224,701

279,310

296,962

278,935

300,300

EBITDA*3

336,784

331,821 *4

381,434

402,221391,625

413,600

ROA*5

4.1 ％

3.8 ％

4.4 ％

4.4 ％

3.9 ％

*6

8.5 ％

7.6 ％

8.1 ％

7.9 ％

7.4 ％

ROE
EPS(Yen)108.64101.34116.45125.54131.963.9 ％7.2 ％137.93

Net interest-bearing debt／EBITDA

6.6 times

7.1 times

6.6 times

6.6 times

7.3 times

7.6 times

After hybrid debt deductions*7

6.1 times

6.6 times

6.2 times

6.2 times

6.9 times

7.3 times

1.40

1.36

1.37

1.33

1.31

1.38

1.18

1.18

1.19

1.17

1.18

1.24

22,10021,623

20,74225,00135,99650,000Debt equity ratio*8
After hybrid debt deductions*7
Interest expense

Other

0.87 ％

1,734,462

Interest coverage ratio (ICR)*9
Annual dividends per share(Yen)

11.3 times
33

31

36

38

40

43

Dividend payout ratio

30.4 ％

30.6 ％

30.9 ％

30.3 ％

30.3 ％

31.2 ％

11.2 times

13.9 times

12.2 times

8.0 times

6.2 times

Current value of Income generating assets

8,270,844

8,361,217

8,840,420

8,964,491

9,343,200-

Income generating assets unrealized gain

4,222,505

4,250,222

4,573,290

4,633,863

4,849,975-

Exchange average rate(¥/$）/PL

109.03106.77109.91131.63140.67139.00Exchange average rate(¥/£）/PL

139.19137.01151.18162.00175.05177.00Exchange current rate(¥/$）/BS

109.56103.50115.02132.70141.83139.00Exchange current rate(¥/£）/BS

143.48139.82

155.24160.00180.68177.00*1 Shareholders' equity = Net assets - Stock acquisition rights - Non-controlling interests*2 Business profit = Operating profit + Share of profit of entities accounted for using equity method*3 EBITDA = Operating income + Interest income + Dividend income + Share of profit of entities accounted for using equity method + Depreciation + Amortization of goodwill*4 Depreciation for FY2020 = Total of Depreciation － Depreciation included in Loss on infectious disease (1,976 millions of yen)
*5 ROA = Business profit / Total assets (average）*6 ROE = Profit attributable to owners of parent / Shareholders' equity (average)*7 The subordinated bond and subordinated loan subject to equity credit from a credit rating agency (50% equity treatment) are shown after deductions.
*8 Debt equity ratio = Interest-bearing debt / Shareholders' equity*9 ICR = (Operating profit + Interest income + Dividend income + Share of profit of entities accounted for using equity method) / Interest expense

8

Segment Information (Consolidated)
Millions of yen (rounded down)

FY2019*1

FY2020

FY2021

Commercial Property Business
723,712672,441
760,658
Marunouchi Property Business*1
Residential Business
385,538
362,755
380,959
International Business
134,175
114,457
121,234
Investment Management Business
21,31622,19946,702
Operating revenue
Architectural Design & Engineering Business and57,12856,06457,780Real Estate Services Business
Others
8,743
9,055
10,134
Eliminations or Corporate(28,418)(29,378)(27,979)
Total
1,302,196
1,207,594
1,349,489
Commercial Property Business*1
187,855
180,775
189,909
Marunouchi Property Business*1
Residential Business
24,32024,06830,173
International Business
46,15637,93255,816
Investment Management Business
4,467
5,966
26,537
Operating profit
Architectural Design & Engineering Business and
2,407
959
2,802
Real Estate Services Business
Others(2,018)(1,089)(1,683)Eliminations or Corporate(22,420)(24,219)(24,578)
Total
240,768
224,394
278,977*1
Commercial Property Business
188,099
181,084
190,211
Marunouchi Property Business*1
Residential Business
24,30524,06630,204
International Business
46,15637,93255,816
Investment Management Business
4,467
5,966
26,537
Business profit*2
Architectural Design & Engineering Business and
2,407
959
2,802
Real Estate Services Business
Others(2,018)(1,089)(1,683)Eliminations or Corporate(22,420)(24,219)(24,578)
Total
240,998
224,701
279,310*3
70,92771,71373,315
Commercial Property BusinessResidential Business
3,946
4,120
4,570
International Business
6,646
8,599
8,460
Investment Management Business
1,333
1,359
1,681
Depreciation*3
Architectural Design & Engineering Business and
868
909
894
Real Estate Services Business
Others98
130
147
Eliminations or Corporate
1,119
2,274
2,510
Total
84,941
89,107
91,581
Commercial Property Business*1
75
75
Marunouchi Property Business*1
Residential Business
386
358
358
International Business
66
64
67
Amortization of Investment Management Business
1,929
2,146
1,665
goodwillArchitectural Design & Engineering Business and
208
377
377
Real Estate Services Business
OthersEliminations or Corporate
Total
2,591
3,022
2,544
169,163
193,938
167,689
Commercial Property Business*3
Residential Business
45,07972,62951,998International Business
113,755
47,713
113,403
Investment
Management
Business
328
54
938
CapitalArchitectural Design & Engineering Business and
948
454
653
investment*3
Real Estate Services Business
Others411
321
51
Eliminations or Corporate
2,172
4,729
(5,620)Total
331,857
319,841
329,115
Commercial Property Business*1
4,135,091
4,167,287
4,273,287
Marunouchi Property Business*1
Residential Business
570,282
673,344666,928
International Business
887,179
929,869
1,130,973
Investment Management Business
71,82977,586108,984
Total assets
Architectural Design & Engineering Business and55,73756,06757,759Real Estate Services Business
Others13,27025,36725,352Eliminations or Corporate
124,847
142,995
230,630
Total
5,858,236
6,072,519
6,493,917*1 From FY2024, the former Commercial Property Business group is split into the Commercial Property Business group and the Marunouchi Property Business group.
*2 Business profit: Operating profit + Share of profit of entities accounted for using equity method*3 Depreciation and Capital Investment for Commercial Property Business are shown before the segment split.

FY2022

346,419
176,130
35,878FY2023
499,138
381,027
398,827
173,770
30,962

FY2024 (Forecasts)
519,000
382,000
392,000
245,000
39,00060,77473,26574,00011,801(30,602)
1,377,827

11,009(63,313)1,504,687
114,730
97,082
38,88851,448(1,619)12,000(67,000)
1,596,000
110,000
90,00040,00070,00013,000777,424

188,852
35,03789,400
8,054
4,176

9,021

7,000

(2,121)(26,696)296,702(1,577)(29,346)
278,627
115,020
97,08238,90251,448(1,619)(2,000)(28,000)
300,000
110,300
90,00040,00070,00013,000

189,089
35,05989,400
8,054
4,176

9,021

7,000

(2,121)(26,696)296,962
72,181
4,993
10,4101,837(1,577)(29,342)
278,935
74,621
5,842
11,6651,872(2,000)(28,000)
300,300

981

900

-

147
2,907
93,459160
3,238
98,301
12
1,946
358
3
1,014

75
358
217
2,140
377

-

101,000
-

377
-

-

-

-

-

3,170
134,406
57,943
93,953
334

3,712
218,40164,404
168,228
333

3,700

332

293

-

794
(1,241)
286,523351(610)
451,4022,045,822
2,441,724
908,475
1,612,125
146,782-

4,434,331
834,751
1,270,849
112,590-572,000-

61,22569,031-

27,599130,610
6,871,959

18,841
340,945
7,583,748-

7,800,000

9Mitsubishi Estate Group Companies' Data
Millions of yen (rounded down)
Mitsubishi Estate Co., Ltd.
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Jisho Property Management Co., Ltd.*
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Number of management properties
Management area
Marunouchi Heat Supply Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Sunshine City Corporation
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate・Simon Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Store floor area

FY2019FY2020

FY2021

FY2022

FY2023549,362
117,176542,646
138,571567,286
120,792523,275
94,201

612,296
132,593

131,431
109,251
4,782,507
51,121

158,345
110,616
4,936,321
51,455

128,934
93,612
5,079,089
53,442

107,856
67,4085,326,049
53,460

153,483
146,108
5,742,398
54,345FY2019FY2020

FY2021

FY2022

FY2023100.00 ％80,683
5,960
5,960
4,101
77,633201
184
8,615,266 ㎡

100.00 ％83,247
5,757
5,757
3,978
82,448209
197
8,963,474 ㎡

100.00 ％95,773
5,570
5,528
3,781
95,086224
218
10,053,028 ㎡

100.00 ％105,060
6,167
6,144
4,207
103,521325
214
9,429,319 ㎡

100.00 ％103,747
6,378
6,350
4,470
103,264293
210
9,481,183 ㎡

FY2019FY2020

FY2021

FY2022

FY202365.59 ％
15,766
2,037
1,982
4,327
39,631
2,732

65.59 ％
15,694
1,771
1,615
995
41,9233,594

65.59 ％
16,836
1,340
1,204
989
40,541
3,750

65.59 ％
19,262
1,781
1,723
1,095
39,2423,564

65.59 ％
18,543
1,846
1,724
1,144
37,8603,303

FY2019FY2020

FY2021

FY2022

FY202363.20 ％
26,926
5,213
3,473
2,372
106,0815,686

63.20 ％
24,079
5,194
4,344
2,085
104,830
5,732

63.20 ％
24,809
4,492
3,637
2,544
106,3225,760

63.20 ％
27,132
5,701
4,571
3,159
108,6315,641

63.20 ％
30,225
8,017
7,690
5,323
113,549
5,667

FY2019FY2020

FY2021

FY2022

FY202360.00 ％
46,393
18,963
19,21913,165
110,754
5,197
315,300 ㎡

60.00 ％
40,03014,61914,942
9,477
121,724
6,126
345,500 ㎡

60.00 ％
44,177
16,78917,155
11,870124,609
6,188
345,500 ㎡

60.00 ％
51,06919,257
19,646
13,575
137,393
6,558
373,100 ㎡

60.00 ％
57,37623,013
23,102
15,955
147,980
7,079
373,000 ㎡* As of April 1, 2021, Mitsubishi Jisho Retail Management was merged into Mitsubishi Jisho Property Management thus calculated figures after FY2021 includes figures of Mitsubishi Jisho Retail Management.

10Tokyo Ryutsu Center Inc.
FY2019
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Hotels & Resorts Co., Ltd.*
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Residence Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Home Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Jisho Community Co., Ltd.
Share of voting rights

FY2020

FY2021

FY2022

FY202360.03 ％

60.03 ％

60.42 ％

60.47 ％

64.72 ％

10,361
3,238
2,976
2,037
65,166
2,617

9,245
1,997
1,711
1,224
63,777
2,576

7,811
1,770
1,653
(810)
60,117
1,930

8,350
1,958
1,765
1,237
60,005
1,765

9,034
1,670
1,550
1,069
72,2862,447

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％24,266(992)(1,004)(1,304)
10,3661,220

100.00 ％9,775(7,343)(6,915)67
13,722
1,157

100.00 ％14,464(6,700)(5,822)302
14,7991,169

100.00 ％31,857
(688)
(324)
(337)
15,6401,224

100.00 ％45,245
2,113
2,212
2,041
19,7301,484

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％269,660
24,72923,184
16,429570,960
2,218

100.00 ％251,093
23,702
22,146
14,750671,2522,488

100.00 ％264,647
32,63530,82520,364
645,7222,998

100.00 ％221,100
34,47932,41821,860799,7103,205

100.00 ％273,141
40,35338,15819,912867,260
4,030

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％35,47454
68(29)
11,232402

100.00 ％28,200318
324
287
13,092400

100.00 ％33,493
210
213
187
11,016354

100.00 ％33,661
(707)
(768)
(854)
10,660391

100.00 ％33,090
(21)
(21)
(518)
8,785
346

FY2019FY2020

FY2021

FY2022

FY202371.47 ％

71.47 ％

71.47 ％

71.47 ％

71.47 ％

Operating revenue
55,51455,66357,34258,35460,915
Operating profit
3,353
3,629
3,713
3,945
3,966
Ordinary profit
3,427
3,690
3,790
4,032
3,910
Net income
2,222
2,477
2,476
2,639
2,493
Total assets
20,851
21,90822,901
24,453
26,034
Depreciation
401
394
371
332
350
Number of condominium management units
352,365 units
350,682 units
345,327 units
344,867 units
349,446 units* As of April 1, 2022, Royal Park Hotel's management business was transferred to Royal Park Hotels and Resorts thus calculated figures after FY2022 includes figures of Royal Park Hotel.
* Royal Park Hotels & Resorts Co., Ltd. changed its name to Mitsubishi Estate Hotels & Resorts Co., Ltd. on January 1, 2024.

11

MEC Group International, Inc.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Europe Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Asia Pte. Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Jisho Design Inc.*
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Real Estate Services Co., Ltd.
Share of voting rights

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％91,99024,861100.00 ％89,22230,877100.00 ％127,440
61,692100.00 ％142,972
58,658100.00 ％142,383
45,83822,874
12,654429,135
4,762

26,353
17,077468,786
5,744

59,62525,636592,915
6,535

54,82033,606
720,529
8,506

40,122
34,641
872,887
8,689

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％43,672
20,361
19,06016,982
189,9541,834

100.00 ％22,785
4,709
4,342
2,736
192,4191,846

100.00 ％4,028
786(6,340)(2,824)
255,840
1,374

100.00 ％47,851
41,786
38,56031,931
282,5711,627

100.00 ％36,943
3,364(4,896)(5,913)354,877
3,668

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％
1,905
381
558
534
38,802130100.00 ％
3,042
1,322
1,809
1,788
38,750128

100.00 ％
2,824
200
347
59
43,105299

100.00 ％3,224(1,201)(1,035)(837)
56,847377

100.00 ％3,882(1,345)(1,160)(1,051)
48,331446

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％18,838
2,446
2,394
1,617
25,053312

100.00 ％20,034
3,052
3,073
2,110
27,106329

100.00 ％19,922
2,816
2,844
1,945
27,273326

100.00 ％20,350
2,640
2,683
1,927
28,478324

100.00 ％24,942
3,645
3,217
2,352
31,363208

FY2019FY2020

FY2021

FY2022

FY2023100.00 ％100.00 ％100.00 ％100.00 ％100.00 ％24,820
1,554
1,672
1,104
24,977348
273,926
1,118
58,41826,842
2,675
2,763
1,889
26,968367
355,950
1,197
61,00432,584
6,380
6,468
4,663
30,486336
494,719
1,403
62,254

Operating revenue
27,117
22,662
Operating profit
1,031
202
Ordinary profit
1,367
216
Net income
755
21
Total assets
25,047
23,847
Depreciation
416
362
Amount of transaction
450,048
260,240
Number of brokerage
1,095
932
Number of parking management
55,37956,596* Mitsubishi Jisho Sekkei Inc. changed its English name to Mitsubishi Jisho Design Inc. on April 1, 2022.

12