■February 7, 2018

MITSUBISHI ESTATE CO., LTD.

FACT BOOK FY2018-3Q(The Fiscal Year Ending on March 31, 2018)

Inquiries: MITSUBISHI ESTATE CO., LTD.
Investor Relations Office
TEL: +81-3-3287-5200
FAX: +81-3-3212-3757
http://www.mec.co.jp/e/investor/index.html

■November 6, 2017
Page/sI. Performance Comparisons (Consolidated)

II. Highlights

III. Summary of Consolidated Financial Statements

1. Income Statement Results for FY2018-3Q and FY2017-3Q
2. Current and Previous (announced on November 6, 2017) Income Statement Estimates for FY2018
3. Current Income Statement Estimates for FY2018 and Results for FY2017
4. Balance Sheet Results at Periods Ended Dec 31, 2017 and Mar 31, 2017
1. Major Performance Items (Consolidated)
2. Segment Information (Consolidated)
3. Office Building Business Revenue from Operations Breakdown (Consolidated)
4. Office Building Business Data (Consolidated)
5. Office Building Business Data (Unconsolidated)
6. Marunouchi Area Building Data (Unconsolidated)
7. Lifestyle Property Business Data (Consolidated)
8. Condominium Business Data
9. 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

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

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 FY2018-3Q and FY2017-3Q
Millions of yen (rounded down)

FY2018-3Q
Results

FY2017-3Q
Results

Millions of yen (rounded down)

Change■Breakdown of Extraordinary income

FY2018-3Q
Results

FY2017-3Q
Results

ChangeOffice Building Business

344,209

370,656(26,446)

Gain on sales of fixed assets

12,078-12,078Lifestyle Property Business

73,691

66,794

6,896

Gain on negative goodwill-

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

Residential Business

258,296

276,947(18,651)-

1,966International Business

55,14254,079

1,062

Gain on exchange from business combination

1,513

-

1,513

Investment Management

17,202

17,047

154

Total

13,591

15,471(1,879)Architectural Design & Engineering

12,343

11,0991,243

Hotel Business

25,34025,575(234)

Real Estate Services

16,63917,000

(361)

Other

6,504

3,102

3,401

(18,911)(18,193)(718)

FY2018-3Q
Results

FY2017-3Q
Results

Eliminations

Settlement received

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

Revenue from Operations

790,456

824,111(33,654)

Office Building Business

106,486

103,6252,860

Impairment loss

Lifestyle Property Business

21,321

19,855

1,465

Loss on step acquisitions

Residential Business

12,202

13,899(1,697)

Total

International Business

13,50723,157(9,649)Investment Management

3,920

4,343

(423)

Architectural Design & Engineering

603

(621)

1,225

Hotel Business

1,461

2,024

(563)

Real Estate Services

(396)

504

(900)

Other

1,038

188

849

Office Building Business(16,791)(16,532)(258)

Lifestyle Property Business

2,000

143,354

150,444(7,090)Residential Business

1,000
7,000

Eliminations or Corporate
Operating Income

Loss related to retirement of fixed assets

Change

-

1,836

1,723

1,287

(1,836)
436

-

6,431

(6,431)

1,723

9,555

(7,831)＜Reference＞

Millions of yen (rounded off to the nearest billion)■Capital Gains included in Operating Income

FY2018-3Q
Results

Capital Gains
6,000

Non-operating revenue

8,871

8,004

866

International Business

Non-operating expense

23,653

21,836

1,816

Investment Management Business

1,000

128,572

136,612(8,040)

Other

1,000

Extraordinary income

13,591

15,471(1,879)Extraordinary loss

1,723

9,555

(7,831)

Total

140,440

142,528(2,088)*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

41,42442,403(978)99,015100,125(1,109)14,062

10,7403,321

84,95389,384(4,431)

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

Eliminations or Corporate

0
18,000＜Reference＞

Millions of yen (rounded off to the nearest billion)■Overseas Operating Income

FY2018-3Q
Results

Overseas Operating Income

14,000*Overseas Operating Income: Sum of operating income from International Business Group and other overseas operations.

32. Current and Previous (announced on November 6, 2017) Income Statement Estimates for FY2018
Millions of yen (rounded down)

FY2018Current
Estimates

Office Building Business

501,000

FY2018Previous
Estimates

Millions of yen (rounded down)

Change501,000

0■Breakdown of Extraordinary income

FY2018Current
Estimates

FY2018Previous
Estimates

ChangeLifestyle Property Business

108,000

108,000

0Gain on sales of fixed assets

12,0009,500

Residential Business

426,000

426,000

0Gain on sales of investment securities

2,000

2,000

0

International Business

82,00082,0000Gain on exchange from business combination

1,500

0

1,500

0

1,500

(1,500)15,50013,0002,500

Investment Management

21,00021,0000

Other extraordinary income

Architectural Design & Engineering

20,00020,0000

Total

Hotel Business

34,00034,000

0Real Estate Services

25,00025,000

0

Other

7,000

7,000

0

Eliminations

2,500(22,000)(22,000)

0

Revenue from Operations

1,202,000

1,202,000

0Office Building Business

143,000

143,000

0

Lifestyle Property Business

30,00030,0000

Residential Business

20,00020,0000

Loss related to retirement of fixed assets

7,800

7,000

800

International Business

24,00024,0000

Impairment loss

1,700

0

1,700

Investment Management

3,000

3,000

0

Total

9,500

7,000

2,500

Architectural Design & Engineering

500

500

0

Hotel Business

1,500

1,500

0

Real Estate Services

1,500

1,500

0
0

Other
Eliminations or Corporate
Operating Income
Non-operating revenue
Non-operating expense
Income Before Taxes and Special Items

Extraordinary income
Extraordinary loss
Income Before Income Taxes and Minority Interests
Corporate tax, etc.

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

1,000

1,000

(19,500)(19,500)0

205,000

205,000

0

9,000

9,000

0

35,00035,0000

179,000

179,000

0

15,50013,000

2,500

9,500

7,000

2,500

185,000

185,000

0

57,00057,0000

128,000

128,000

0

16,00016,0000

112,000

112,000

0Millions of yen (rounded down)■Breakdown of Extraordinary loss

FY2018Current
Estimates

FY2018Previous
Estimates

Change＜Reference＞

Millions of yen (rounded off to the nearest billion)■Capital Gains included in Operating Income

FY2018Current
Estimates

Capital Gains
Office Building Business

FY2018Previous
Estimates

Change34,00034,0000

14,00014,0000* Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

＜Reference＞

Millions of yen (rounded off to the nearest billion)■Overseas Operating Income

FY2018Current
Estimates

Overseas Operating Income

25,000FY2018Previous
Estimates

25,000Change0* Overseas Operating Income: Sum of operating income from International Business Group and other overseas operations.

43. Current Income Statement Estimates for FY2018 and Results for FY2017*There was a revision to Extraordinary Income and loss, but Revenue from Operations, Operating Income,
Income Before Taxes and Special Items, Profit Attributable to Owners of Parent remain as announced on Novermber 6, 2017.
Millions of yen (rounded down)

FY2018Estimates

FY2017
Results

Millions of yen (rounded down)

Change■Breakdown of Extraordinary income

FY2018Estimates

FY2017
Results

ChangeOffice Building Business

501,000

484,238

16,762Gain on sales of fixed assets

12,000-Lifestyle Property Business

108,000

88,95519,045Gain on sales of investment securities

2,000

1,013

987

Residential Business

426,000

407,850

18,150Gain on negative goodwill-

13,505(13,505)

International Business

82,00066,556

15,444-

1,966(1,966)

Investment Management

21,00021,323(323)

Gain on exchange from business combination

1,500

-

1,500

Architectural Design & Engineering

20,00019,309691

Total

15,500

16,484(984)

Hotel Business

34,00033,512

488

Real Estate Services

25,00024,243

757

Other

7,000

4,237

2,763

(22,000)(24,820)

2,820

Revenue from Operations

Eliminations

1,202,000

1,125,405

76,595

Office Building Business

143,000

133,570

9,430

Lifestyle Property Business

30,00025,807

4,193

Residential Business

20,00019,253747

International Business

24,00026,313(2,313)

Investment Management

3,000

4,520

(1,520)Architectural Design & Engineering

500

445

55

Hotel Business

1,500

1,932

(432)

Real Estate Services

1,500

2,157

(657)

Other
Eliminations or Corporate
Operating Income
Non-operating revenue
Non-operating expense
Income Before Taxes and Special Items

1,000

289

711

(19,500)(21,793)2,293

205,000

192,495

12,505

9,000

9,380

(380)

35,00032,024

2,976

179,000

169,851

9,149

Extraordinary income

15,500

16,484(984)

Extraordinary loss

9,500

23,455(13,955)

185,000

162,881

22,11957,00046,073

10,927

128,000

116,808

11,192

16,00014,126

1,874

112,000

102,681

9,319

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

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

Settlement received

12,000Millions of yen (rounded down)■Breakdown of Extraordinary loss

FY2018Estimates

FY2017
Results

ChangeLoss related to retirement of fixed assets

7,800

4,762

3,038

Impairment loss

1,700

12,260(10,560)

Loss on step acquisitions
Total

-

6,431

(6,431)

9,500

23,455(13,955)＜Reference＞

Millions of yen (rounded off to the nearest billion)■Capital Gains included in Operating Income

FY2018Estimates

Capital Gains
Office Building Business

FY2017
Results

Change34,00042,000(8,000)14,00018,000(4,000)* Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

＜Reference＞

Millions of yen (rounded off to the nearest billion)■Overseas Operating Income

FY2018Estimates

Overseas Operating Income

25,000FY2017
Results
27,000Change(2,000)* Overseas Operating Income: Sum of operating income from International Business Group and other overseas operations.

54. Balance Sheet Results at Periods Ended Dec 31, 2017 and Mar 31, 2017
Millions of yen (rounded down)

At Dec 31, 2017 At Mar 31, 2017

Millions of yen (rounded down)

ChangeAt Dec 31, 2017 At Mar 31, 2017

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

261,11344,635
10,924
93,627365,034
1,268
16,144
1,277

243,681
43,823
13,51560,195337,928
1,058
8,091
1,021

17,432812(2,590)33,432
27,106
210
8,053
255

9. Equity investments

360,230

292,764

67,466

Total current liabilities

9,201
83,398(224)
1,246,632

10,73069,152(270)
1,081,690(1,529)14,24646
164,942

1,029,651
20,2272,077,020
679,469
110,145
13,0493,929,564

1,032,286
21,722
1,987,344
708,801
92,367
14,2333,856,757(2,635)(1,495)89,676(29,331)
17,777(1,184)72,80672,87722,26095,13873,81625,72599,542(939)(3,464)(4,403)

301,261
1,370
104,830
18,624
12,566
82,342(1,790)519,206
4,543,909
5,790,542

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

56,390(18)(1,319)
9,137
1,484
7,556
(148)
73,081
141,484
306,426

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

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

Liabilities
I. Current liabilities
1. Notes and accounts payable-trade
2. Short-term borrowings
3. Current portion of long-term debt
4. Commercial paper
5. Bonds due within one year
6. Accrued income taxes
7. Deferred tax liability
8. Other current liabilities

6

Change48,224125,414
118,430
100,000
81,20015,069599
194,584

56,09986,415
149,281
85,075
16,471
572
192,708(7,874)38,998(30,850)
100,000(3,875)(1,402)
27
1,876

683,523586,623

96,899766,550
1,332,504
407,795
234,357
263,548
27,878688
4,831
94,653
118,175
3,250,984
3,934,507

777,712
1,292,854
398,014217,565
263,661
22,042834
4,831
90,53561,9783,130,031
3,716,654(11,162)
39,649
9,781
16,792
(112)
5,835
(145)
(0)
4,117
56,196
120,952
217,852

141,898
161,810
727,535(5,314)
1,025,930

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

239
333
53,275174
54,023

139,72482
526,873(14,135)(1,117)
651,428347
178,329
1,856,034
5,790,542

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

30,080
9
(254)
(771)
1,495
30,557(182)
4,175
88,574306,426

II. Highlights
1. Major Performance Items (Consolidated)

Millions of yen (rounded down)

FY2015FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

Revenue from operations

1,110,259

1,009,408

824,111

1,125,405

790,456

1,202,000

Operating income

156,332

166,199

150,444

192,495

143,354

205,000

Income before taxes and special items

133,113

144,851

136,612

169,851

128,572

179,000

Profit attributable to owners of parent

73,33883,42689,384

102,681

84,953112,000

Total assets

4,901,526

5,311,840

5,404,508

5,484,115

5,790,542

5,800,000

Shareholders' equity *1

1,495,838

1,509,680

1,540,290

1,592,777

1,677,358

1,670,000

Interest-bearing debt

1,929,355

2,291,038

2,372,529

2,396,994

2,528,941

2,520,000

Cash flow from operating activities

200,078

135,82197,087

168,527

94,937

181,000

Cash flow from investing activities(46,568)(231,003)(252,088)(327,292)(159,888)(335,000)

Cash flow from financing activities(189,109)309,237(9,895)(4,921)

86,19877,000EBITDA *2

239,934

252,034

216,443

279,718

211,257

293,000

Return on assets (ROA) *3
Interest coverage ratio (ICR) *4
Return on equity (ROE) *5
Earnings per share (EPS) (Yen)

3.2 %

3.3 %

-%

3.6 %

-%

3.6 %

7.7 times

8.5 times- times

8.7 times- times

8.8 times

5.2 %

5.6 %

-%

6.6 %

-%

6.9 %

52.85

60.13

64.42

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 / 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

61.21

80.70

2. Segment Information (Consolidated)(Millions of yen (rounded down); as percentage of total)(1) Revenue from Operations
Office Building BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

FY2015
587,660
377,736
77,7948,050
19,46730,827
27,295
3,747(22,321)
1,110,259

FY2015*1
51.9% Office 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

484,816
105,706
383,887
71,176
14,885
19,46730,827
20,543
3,747(24,799)
1,110,259

FY2016
42.7%
9.3%
33.8%
6.3%
1.3%
1.7%
2.7%
1.8%
0.4%

422,349
86,569345,226
75,95624,994
21,27933,08919,815
3,882(23,754)
1,009,408

FY2017-3Q
40.9%
8.4%
33.4%
7.4%
2.4%
2.1%
3.2%
1.9%
0.3%

370,656
66,794
276,947
54,07917,047
11,09925,57517,0003,102(18,193)824,111

44.0%
7.9%
32.9%
6.4%
2.0%
1.3%
3.0%
2.0%
0.5%

FY2017484,238
88,955
407,850
66,556
21,323
19,30933,512
24,243
4,237(24,820)
1,125,405

FY2018 (Estimates)

FY2018-3Q
42.1%
7.7%
35.5%
5.8%
1.9%
1.7%
2.9%
2.1%
0.3%

344,20973,691
258,296
55,142
17,202
12,34325,340
16,6396,504(18,911)
790,456

42.5%
9.1%
31.9%
6.8%
2.1%
1.5%
3.1%
2.1%
0.9%

501,000
108,000
426,000
82,00021,00020,00034,00025,0007,000(22,000)
1,202,000

40.9%
8.8%
34.8%
6.7%
1.7%
1.6%
2.8%
2.0%
0.7%

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

FY2015

Office Building Business

128,982

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

11,605
26,068
4,064
663
754
1,111
16
(16,934)
156,332(3) Rate of return

FY2015*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

102,820
26,162
11,53225,901
4,282
663
754
1,105
16
(16,906)
156,332

FY2015

Office Building Business21.9 %

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

3.1 %33.5 %
50.5 %
3.4 %
2.4 %
4.1 %
0.4 %

*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

14.1 %FY2016108,940
25,842
18,035
19,421
5,082
1,754
1,490
602
(37)
(14,933)
166,199

FY2017-3Q
103,625
19,855
13,89923,157
4,343
(621)
2,024
504
188
(16,532)
150,444

FY2017
133,570
25,807
19,253
26,313
4,520
445
1,932
2,157
289
(21,793)
192,495

FY2018-3Q
106,486
21,321
12,202
13,507
3,920
603
1,461
(396)
1,038
(16,791)
143,354

FY2018 (Estimates)
143,000
30,00020,00024,000
3,000
500
1,500
1,500
1,000
(19,500)
205,000

FY2015FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

21.2 %
24.7 %
3.0 %
36.4 %
28.8 %
3.4 %
2.4 %
5.4 %
0.4 %

25.8 %
29.9 %
5.2 %
25.6 %
20.3 %
8.2 %
4.5 %
3.0 %
(1.0) %-

27.6 %
29.0 %
4.7 %
39.5 %
21.2 %
2.3 %
5.8 %
8.9 %
6.8 %

-

28.5 %
27.8 %
4.7 %
29.3 %
14.3 %
2.5 %
4.4 %
6.0 %
14.3 %

14.1 %

16.5 %-

17.1 %-

17.1 %
Millions of yen (rounded down)(4) Depreciation

FY2015

Office Building Business

59,960Residential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2,728
7,378
55
103
1,322
333
159
654
72,696FY2015*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

48,665
11,294
2,762
6,404
1,029
103
1,322
300
159
654
72,696FY201643,752
12,288
3,085
7,033
5,413
126
1,527
284
90
642
74,245FY2017-3Q
35,161
9,364
2,403
4,710
3,241
82
1,099
255
48
177
56,545FY201747,755
12,704
3,144
5,913
4,216
113
1,478
343
64
240
75,974FY2018-3Q
36,017
10,114
2,104
5,239
2,921
90
1,083
241
32
93
57,938FY2018 (Estimates)
76,500*1 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Millions of yen (rounded down)

FY2015(5) Amortization of goodwill
Office Building Business

479

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

3,312
875
4,667

FY2015*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

409
69
3,312
875
4,667

FY2016
409
318
3,030
2,386
6,144

FY2017-3Q
307
52
2,272
1,483
0
4,115

FY2017
409
69
3,030
1,963
0
5,473

FY2018-3Q

FY2018 (Estimates)

307
52
2,272
44
1,484
4,160

5,500
Millions of yen (rounded down)

FY2015(6) Operating income before depreciation *2
Office Building Business

189,421

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

17,64534,321
4,119
766
2,076
1,444
175
(16,280)
233,695

FY2015*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

151,894
37,525
17,60632,305
6,186
766
2,076
1,405
175
(16,252)
233,695

FY2016
153,101
38,44824,15026,454
12,881
1,880
3,017
886
53
(14,291)
246,588

FY2017-3Q
139,093
29,271
18,574
27,867
9,067
(539)
3,123
759
236
(16,355)
211,104

FY2017
181,734
38,58025,42732,226
10,699
558
3,410
2,500
353
(21,553)
273,942

FY2018 (Estimates)

FY2018-3Q
142,810
31,487
16,57818,790
8,325
693
2,544
(155)
1,070
(16,698)
205,452

287,000
Millions of yen (rounded down)

FY2015(7) Capital expenditure
Office Building Business

120,704

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

22,10845,947
242
677
3,290
408
382
(2,304)
191,457(8) Total assets

At Mar 31, 2015

FY2015*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

FY2016FY2017-3Q

FY2017FY2018 (Estimates)

FY2018-3Q

87,53633,16822,167
21,261
24,927
677
3,290
349
382
(2,304)
191,457

175,904
40,272
29,14435,472
378
116
1,295
433
29
369
283,416

133,950
28,03817,75926,226
146
97
468
406
156
2,442
209,691

162,651
59,05427,26739,724
201
182
734
568
274
3,055
293,716

71,26824,37913,892
48,771
10,032
463
663
187
3,817
(1,612)
171,864-

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

Millions of yen (rounded down)

Office Building Business

3,416,285

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

597,587595,293
31,03024,98528,03427,505
27,696
153,106
4,901,526

Exchange rate¥/$¥/£

PL (AR)
BS (CR)
PL (AR)
BS (CR)FY2017-3Q
108.57101.18151.42132.02

AR:Average Rate, CR:Current Rate

FY2018-3Q
111.89112.73142.64151.37*1
Office Building Business
Lifestyle Property BusinessResidential Business
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

FY2018(Estimates)*3
110.00110.00140.00140.003,094,967
321,405602,263479,785
146,538
24,98528,03423,972
27,696
151,876
4,901,526

3,208,271
372,779
748,400
515,844
141,126
27,47428,417
23,60823,501
222,415
5,311,840

3,436,174
450,734
642,698
455,871
120,715
25,214
28,792
24,00812,013
208,285
5,404,508

3,445,008
484,292
634,219541,888
106,990
27,35828,84225,702
12,649177,1635,484,115

3,506,524
507,836
632,117653,352
107,898
24,79927,69020,352
21,480288,487
5,790,542

At Mar 31, 2018
(Estimates)
5,800,000*1 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.
*2 Operating income before depreciation is included in earnings before depreciation and amortization of goodwill.
*3 The exchange rate used for calculating the FY2018 (Estimates). The actual average exchange rate for 2017 was $1/¥112.16 and £1/¥144.49.

9

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

Millions of yen (rounded down)

FY2015FY2015*2

FY2016*2

FY2017-3Q *2

FY2017*2

FY2018-3Q *2

FY2018 (Estimates)*2

Leasing

416,631

347,757

353,958

280,390376,531

288,328

388,000

Property Management

19,721

19,38921,14615,85821,926

17,39027,000Contracted Work

14,50014,50014,597

8,310

12,552

9,599

11,000

8,724

8,724

8,387

6,203

8,280

6,195

8,000

Other (Sales of assets etc.)

District Heating and Cooling Services

128,083

94,44324,25959,89264,947

22,69467,000

Total

587,660

484,816

422,349

370,656484,238

344,209

501,000*1 Including revenue from other segments.
*2 As of April 2015, revenue from operations from the Lifestyle Property Business is not included in calculations.

4. Office Building Business Data (Consolidated)(Thousands of square meters)

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

4,184

3,470

3,526

3,557

3,610

Owned by MEC

2,629

2,074

2,161

2,182

2,244

Subleases

1,555

1,395

1,365

1,376

1,366

Contracted area

* As of April 2015, the contracted area from the Lifestyle Property Business are not included in calculations.

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

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

At Mar 31, 2018
(Estimates)

Owned by MEC

3,326

3,265

3,265

3,414

3,493

3,548

Subleases

2,345

1,909

1,972

1,971

1,952

2,015

5,670

5,174

5,237

5,385

5,445

5,562

3,504

3,192

3,308

3,357

3,391

3,471

(1) Total operating floor space

Total(2) Leasable area
(3) Vacancy rates (All uses in Japan)(4) Average rent (All uses in Japan)

2.80 %
23,5872.22 %

3.08 %

25,23425,8622.93 %
25,8422.61 %
26,157* The average rent is per 3.3 square meters per month.
* 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))

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

Operating floor space

2,583

2,531

2,594

2,727

2,782

Leasable area

1,571

1,466

1,567

1,603

1,651

Office vacancy rates

1.82 %

1.37 %

1.64 %

2.42 %

Building lease revenue

202,784

202,337

160,300

216,67310

2.57 %
166,428

2.5 %26,2007. Lifestyle Property Business Retail Properties Data (Consolidated)
Contracted area

(Thousands of square meters)

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

680

681

680

683

* These figures are for the contracted area of retail properties of the Lifestyle Property Business (including some office facilities).

8. Condominium Business Data
FY2015FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

239,422

215,762

137,246

223,266

147,940

252,000

Condominiums sold (units)

4,603

3,868

2,224

3,713

2,035

4,000

Gross margin17.3 %

18.7 %

18.9 %

19.4 %

20.9 %

19.2 %

Inventory (units)

141

188

330

326

287

-

New Supply of condominiums (units)

5,119

3,641

2,353

3,236

2,487

3,600

442,367

442,068

373,378

412,855

354,075---

211,760-

245,249-

130,792

140,563

148,393

167,887

104,889-

86,38913,225

20,395

3,938-

Condominiums sold (Millions of yen)

Condominium contract balance (Millions of yen)
The fiscal year share (Millions of yen)
The following fiscal year share (Millions of yen)

71,089The post following fiscal year share (Millions of yen)
* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales

11

9. Special Purpose Vehicle Data

Millions of yen (rounded down)

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

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

206,865

172,698

168,948

168,753

163,666

102,31179,00576,73776,66465,586

102,552

76,70478,44078,28867,966

102,530

76,70478,44078,28867,966

157,971

97,69397,56897,56882,380157,871

97,593

97,46897,46882,28031,09732,06337,036

39,835

7,245

8,211

13,184

15,984

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

2,488

3,221

6,892

9,711

2,488

3,221

6,892

9,711

8,297

10,975

19,276

21,917

10,875

19,176

21,817

8,197(Unconsolidated)
Residential Business
Equity investment by Mitsubishi Estate(Unconsolidated)

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest bearing debt borrowed by SPV(Unconsolidated)--

Equity investment by other companies(Unconsolidated)

-

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

206,914203,795

201,011205,789

203,502102,31186,25084,94989,84981,571

102,552

79,192

81,661

85,181

77,677

102,530

79,192

81,661

85,181

77,677

157,971

105,990108,543

116,845

104,297

157,871

105,790108,343

116,645

104,097* 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 2015, domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Office Building Business , now featuring in the newly created Lifestyle Property Business.

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

Millions of yen (rounded down)

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

At Mar 31, 2017

At Dec 31, 2017

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

234,187
35,90013,30040,190378,513
1,133
12,818
1,157
268,576
9,180
78,790(342)
1,073,408

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

261,11344,635
10,924
93,627365,034
1,268
16,144
1,277
360,230
9,201
83,398(224)
1,246,632

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

953,869
20,271
1,960,201
701,280
136,004
14,6893,786,317

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

1,029,651
20,2272,077,020
679,469
110,145
13,0493,929,564

87,021
33,210120,232

75,49432,289107,784

74,36024,346
98,70773,81625,72599,542

72,87722,26095,138280,809
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

248,8381,430
111,124
9,656
10,87765,764(1,616)446,075
4,331,099
5,404,508

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

301,261
1,370
104,830
18,624
12,566
82,342(1,790)519,206
4,543,909
5,790,542

13

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

At Mar 31, 2015

At Mar 31, 2016

At Dec 31, 2016

Millions of yen (rounded down)
At Mar 31, 2017
At Dec 31, 2017

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

51,292
95,906161,226
80,075
13,194
1,412
184,626
587,733

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

48,224125,414
118,430
100,000
81,20015,069599
194,584
683,523

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

772,750
1,256,518
399,244
220,435
263,661
31,299793
4,831
90,90768,367
3,108,809
3,696,543

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

766,550
1,332,504
407,795
234,357
263,548
27,878688
4,831
94,653
118,175
3,250,984
3,934,507

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

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

141,659
161,475
664,128(5,455)
961,808

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

141,898
161,810
727,535(5,314)
1,025,930

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

114,576(302)
524,073(49,753)(10,111)
578,482529
167,144
1,707,964
5,404,508

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

139,72482
526,873(14,135)(1,117)
651,428347
178,329
1,856,034
5,790,542

14

2. Consolidated Income Statements

Millions of yen (rounded down)
FY2015

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
Gain on exchange from business combination
Total extraordinary income
Extraordinary loss
Loss related to retirement of fixed assets
Impairment loss
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-deferred
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

1,110,259
156,332

1,009,408
166,199

824,111150,444

1,125,405
192,495

790,456
143,354

1,202,000
205,000

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

284
4,556
605
5,503
10,949

209
4,258
869
2,666
8,004

268
4,634
872
3,605
9,380

185
5,153
465
3,067
8,871

500
5,000
500
3,000
9,000

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

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

17,1642,361
2,311
21,836
136,61222,743
4,453
4,827
32,024
169,851

17,291
3,036
3,325
23,653
128,572

24,0007,000
4,000
35,000179,000

36,551
12,25648,807

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

13,505
1,966
15,471

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

12,0781,513
13,591

12,0002,000
1,500
15,5006,190
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

1,836
1,287
6,431
9,555
142,528
33,262
9,140
100,125
10,74089,384

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

1,723
1,723
140,440
39,768
1,655
99,015
14,062
84,953

7,800
1,700
9,500
185,000

15

57,000128,000
16,000112,000

3. Consolidated Cash Flow Statements

Millions of yen (rounded down)
FY2015FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

Income before income taxes and minority interests

100,201

141,850

142,528

162,881

140,440

185,000

Adjustment for extraordinary income or loss

32,954(318)(1,117)

12,249(6,238)(6,500)Depreciation and amortization

72,696

74,24556,54575,97457,93876,500Decrease (increase) in inventories

110,219(33,202)47,20784,8539,045

36,000Decrease (increase) in equity investments(35,973)(32,487)(23,040)(32,460)(66,548)(105,000)

Other(45,659)

9,316(79,870)(82,780)

4,318

38,500

Income taxes, etc.

(34,360)(23,582)(45,165)(52,189)(44,019)(43,500)

Net cash provided by (used in) operating activities

200,078

135,82197,087

168,527

94,937

181,000

624

29,043

8,607

10,63420,00427,000

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

167,645

22,806

1,113

11,328

12,62913,000Capital investment(177,331)(275,316)(195,603)(275,372)(160,801)(332,000)

Other(37,506)(7,536)(66,206)(73,883)(31,720)(43,000)

Net cash provided by (used in) investing activities(46,568)(231,003)(252,088)(327,292)(159,888)(335,000)

Newly acquired funds

328,053

503,154

215,773

298,515

193,557

374,000

Repayment(505,027)(154,773)(183,775)(243,051)(199,314)(249,000)

Cash dividends paid

(21,684)(29,082)(32,417)(33,709)(42,527)(43,000)

9,549(10,061)(9,476)(26,676)

134,481(5,000)Net cash provided by (used in) financing activities(189,109)309,237(9,895)(4,921)

86,19877,000Effect of exchange rate on cash and cash equivalents

1,235

(153)

(9,841)(5,144)(473)-

Net increase (decrease) in cash and cash equivalents(34,363)

213,902(174,737)(168,830)

20,773(77,000)

Increase in cash and cash equivalents from newly
consolidated subsidiary

6,658

-

-

-

-

-

-

-

-

(219)

-

-

1,455

-

-

-

-

-

Cash and cash equivalents at the beginning of year

224,739

198,489

412,392

412,392

243,341

243,000

Cash and cash equivalents at the end of year

198,489

412,392

237,654

243,341

264,115

166,000

Proceeds from sales of marketable securities andinvestment securities

Other

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

16

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

Millions of yen (rounded down)
FY2018-3Q

FY2018 (Estimates)

5,484,115

5,790,542

5,800,000

195,603

275,372

160,801

332,000

56,54575,97457,93876,500FY2015FY2016FY2017-3Q

FY2017

Total assets

4,901,526

5,311,840

5,404,508

Capital investment

177,331

275,316

Depreciation

72,696

74,245

Capital investment

Millions of yen (rounded down)

FY2018-3Q

FY2018 (Estimates)

Total

160,801

Total

332,000

Mitsubishi Estate

71,399Mitsubishi Estate

171,000(Breakdown)(Breakdown)
Office Building Business
Marunouchi redevelopment
construction cost etc.
Refurbishment cost etc.

51,789Marunouchi redevelopment
construction cost etc.

115,000

8,440

Refurbishment cost etc.

21,000Lifestyle Property Business

7,196

Lifestyle Property Business

26,000Other

Office Building Business

89,402(Breakdown)

Other

161,000(Breakdown)

Rockefeller Group, Inc.

50,234Rockefeller Group, Inc.

46,000Mitsubishi Jisho Residence

12,461

Mitsubishi Jisho Residence

30,000Tokyo Ryutsu Center

12,134

Tokyo Ryutsu Center

15,000Consolidated TMK

6,826

Mitsubishi Estate・Simon

10,000Mitsubishi Estate・Simon

3,745

Consolidated TMK

9,000

Sunshine City

2,079

Sunshine City

9,000

Marunouchi Heat Supply

1,249

Marunouchi Heat Supply

3,000Royal Park Hotels & Resorts

2,000

Yokohama Sky Building

2,000

Mitsubishi Estate Europe

2,000

FY2015FY2016FY2017-3Q

FY2017FY2018-3Q

FY2018 (Estimates)

Interest-bearing debt

1,929,355

2,291,038

2,372,529

2,396,994

2,528,941

2,520,000

Net interest-bearing debt *1

1,730,866

1,878,645

2,134,874

2,153,652

2,264,826

2,350,000

Interest expense

21,09920,18917,16422,743

17,28924,000Financial income and expense (net) *2(16,234)(15,348)(12,696)(17,841)(11,951)(19,000)* Major inter-group transactions are eliminated.

5. Interest-Bearing Debt (Consolidated)

Millions of yen (rounded down)

Average interest rate *3

1.08 %

0.96 %

0.98 %

0.97 %

0.94 %

Debt equity ratio *4

1.29

1.52

1.54

1.50

1.51

1.51

-

1.33

1.28

1.26

1.27

1.27

After hybrid debt deductions *5

Net interest-bearing debt／EBITDA
After hybrid debt deductions *5

7.2 times-

0.98 %

7.5 times- times

7.7 times- times

8.0 times

7.0 times- times

7.1 times- times

7.4 times*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

6. Major Consolidated Subsidiaries
FY2018-3Q Results

Millions of yen (rounded down)

Share of MEC-

Mitsubishi Estate Co., Ltd.

Revenue from
Income before taxes
Operating income
and special items
operations
317,142
76,38597,868Net income
87,104

Total assets
4,745,999

Shareholders' equity Interest-bearing debt

1,453,651

2,236,924

Depreciation
33,223

Mitsubishi Jisho Property Management Co., Ltd.

100.00%51,762

3,839

3,827

2,621

65,091

15,722

3

73

Marunouchi Heat Supply Co., Ltd.

64.16%

10,352

1,276

1,169

908

28,396

21,951

3,316

1,777

Sunshine City Corporation

63.20%

22,191

6,764

6,244

4,318

107,606

60,72322,641

3,943

Mitsubishi Estate・Simon Co., Ltd.

60.00%

33,494

13,94814,146

9,675

108,041

40,254

24,7603,854Tokyo Ryutsu Center Inc.*

56.41%

6,137

1,758

1,571

1,095

64,36932,99624,108

1,369

Mitsubishi Jisho Residence Co., Ltd.

100.00%185,754

14,484

13,3099,568

560,350

67,042426,028

1,218

Mitsubishi Estate Home Co., Ltd.

100.00%15,156(1,407)(1,398)(1,391)

14,742

(19)

-

179

Mitsubishi Jisho Community Co., Ltd.

71.47%

36,591

2,285

2,337

1,653

15,328

8,494

-

277

Rockefeller Group, Inc.

100.00%58,745

14,237

14,081

6,093

448,887

235,127

148,357

5,621

Mitsubishi Estate Europe Limited

100.00%

5,264

2,001

1,710

1,189

148,131

79,34664,786

1,974

Mitsubishi Jisho Sekkei Inc.

100.00%11,405

1,583

1,584

1,065

22,367

16,716-

82

Royal Park Hotels & Resorts Co., Ltd.

100.00%18,516

1,221

1,245

741

10,781

2,311

3,537

527
563

Royal Park Hotel Co., Ltd.

55.71%

7,540

260

216

143

15,268

8,030

3,537

Mitsubishi Real Estate Services Co., Ltd.

100.00%

16,639

(326)

(315)

(250)

18,972

10,36919

241-790,456

143,354

128,572

84,9535,790,542

1,677,358

2,528,941

57,938FY2017-3Q Results

Millions of yen (rounded down)

Share of MEC
Mitsubishi Estate Co., Ltd.

-

Revenue from
Income before taxes
Operating income
and special items
operations
312,624
61,266
63,105

Net income
53,633

Total assets
4,553,000

Shareholders' equity Interest-bearing debt

1,347,773

2,153,993

Depreciation
31,848Mitsubishi Jisho Property Management Co., Ltd.

100.00%48,105

3,080

3,079

2,108

72,611

26,2199

81

Marunouchi Heat Supply Co., Ltd.

64.16%

9,894

1,260

1,237

850

25,104

21,134

1,612

1,631

Sunshine City Corporation

63.20%

20,564

5,463

4,649

3,268

96,486

56,645

16,673

4,064

Mitsubishi Estate・Simon Co., Ltd.

60.00%

32,193

12,824

12,971

8,891

100,065

36,44727,472

4,117

Tokyo Ryutsu Center Inc.

56.07%

5,324

1,684

1,636

1,329

54,97531,975

17,488824

Mitsubishi Jisho Residence Co., Ltd.

100.00%199,173

21,76420,60015,943560,958

65,811

418,054

1,313

Mitsubishi Estate Home Co., Ltd.

100.00%15,921

(670)

(639)

(647)

13,225

2,284

-

173

Mitsubishi Jisho Community Co., Ltd.

71.47%

35,422

2,018

2,077

1,291

13,388

6,982

-

292

Rockefeller Group, Inc.

100.00%53,18020,52819,4158,139

313,317

175,485

95,052

5,830

Mitsubishi Estate Europe Limited

100.00%

5,043

2,891

2,807

2,336

121,072

61,59755,9691,630

Mitsubishi Jisho Sekkei Inc.

100.00%10,051

381

405

251

23,771

18,421-

75

Royal Park Hotels & Resorts Co., Ltd.

100.00%18,774

1,621

1,626

1,357

12,538

3,202

4,237

562
543

Royal Park Hotel Co., Ltd.

55.71%

7,514

416

366

247

14,763

7,865

3,230

Mitsubishi Real Estate Services Co., Ltd.

100.00%17,000

555

800

584

23,91315,70529

255-

824,111150,444

136,612

89,384

5,404,508

1,540,290

2,372,529

56,545* Before consolidation adjustments.
* Tokyo Ryutsu Center Inc. becomes a Mitsubishi Estate consolidated subsidiary in FY2017-2Q. However, the figures for the FY2017-1Q are included in this table.

18