■November 6, 2017

MITSUBISHI ESTATE CO., LTD.

FACT BOOK FY2018-2Q(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

IV. Mitsubishi Estate Group Companies' Data

V. Principal Projects

1. Income Statement Results for FY2018-2Q and FY2017-2Q
2. Current Income Statement Estimates for FY2018 and Results for FY2017
3. Current and Previous (announced on May 10, 2017) Income Statement Estimates for FY2018
4. Balance Sheet Results at Periods Ended Sep 30, 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. Total Assets of Major Overseas Subsidiaries
10. 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. Office 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
12
13 , 14
15
16
17
17
18
19~33

34~36
37, 3839
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 FY2018-2Q and FY2017-2Q
Millions of yen (rounded down)

Millions of yen (rounded down)

FY2018-2Q
Results

FY2017-2Q
Results

Office Building Business

226,054

223,067

2,987

Gain on sales of fixed assets

Lifestyle Property Business

50,242

40,735

9,506

Gain on negative goodwill

Residential Business

131,628

175,932(44,304)

International Business

38,96334,046

4,917

Investment Management

11,703

11,323379

Architectural Design & Engineering

7,000

8,378

(1,377)

Hotel Business

16,006

16,222(215)

Real Estate Services

11,418

10,714

703

Other

4,569

2,138

2,431

(11,749)(10,805)(944)

Revenue from Operations

485,838

511,753(25,914)

Loss related to retirement of fixed assets

-

1,832

Office Building Business

67,96264,104

3,857

Loss on step acquisitions

-

6,431

(6,431)

Lifestyle Property Business

14,358

11,115

3,242

Total

-

8,264

(8,264)

Eliminations

ChangeResidential Business(1,760)

9,492(11,253)

International Business

10,64914,011(3,362)

Investment Management

3,056

2,906

149

Architectural Design & Engineering

(342)

(81)

(261)

Hotel Business

381

771

(390)

Real Estate Services
Other
Eliminations or Corporate
Operating Income■Breakdown of Extraordinary income

FY2018-2Q
Results

Change

2,134

-

2,134

-

13,505(13,505)

Settlement received
Total

FY2017-2Q
Results-

1,966(1,966)2,134

15,471(13,337)

FY2018-2Q
Results

FY2017-2Q
Results

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

Change(1,832)＜Reference＞

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

FY2018-2Q
Results

43

(100)

144

1,079

111

968

Capital Gains
Office Building Business(11,149)(10,184)(964)

Lifestyle Property Business

2,000

84,27892,148(7,869)Residential Business

1,000
6,000

1,000

Non-operating revenue

5,694

6,956

(1,262)

International Business

Non-operating expense

16,011

14,8291,181

Investment Management Business

1,000

73,961

84,275(10,313)

Other

1,000

2,134

15,471(13,336)-

8,264(8,264)

Total

76,096

91,483(15,386)*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

24,36627,027(2,661)

51,73064,455(12,725)

10,000

6,940

3,060

41,72957,514(15,785)

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

Eliminations or Corporate

0
12,000＜Reference＞

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

FY2018-2Q
Results

Overseas Operating Income

11,000*Overseas Operating Income: Sum of operating income from International Business Group and other overseas operations.

32. Current Income Statement Estimates for FY2018 and Results for FY2017
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

9,500

-

Lifestyle Property Business

108,000

88,95519,045Gain on sales of investment securities

2,000

1,013

9,500
987

Residential Business

426,000

407,850

18,150Gain on negative goodwill-

13,505(13,505)

Settlement received(1,966)

International Business

82,00066,556

15,444-

1,966

Investment Management

21,00021,323(323)

Other extraordinary income

1,500

-

1,500

Architectural Design & Engineering

20,00019,309691

Total

13,000

16,484(3,484)

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

1,000

289

711

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

205,000

192,495

12,505

9,000

9,380

(380)

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

35,00032,024

2,976

179,000

169,851

9,149

Extraordinary income

13,000

16,484(3,484)Extraordinary loss

7,000

23,455(16,455)

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

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

FY2018Estimates

Change

7,000

4,762

2,238

-

12,260(12,260)

Impairment loss
Loss on step acquisitions
Total

FY2017
Results-

6,431(6,431)

7,000

23,455(16,455)＜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.

43. Current and Previous (announced on May 10, 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)

Change497,000■Breakdown of Extraordinary income

4,000

FY2018Current
Estimates

FY2018Previous
Estimates

ChangeLifestyle Property Business

108,000

105,000

3,000

Gain on sales of fixed assets

9,500

6,000

Residential Business

426,000

423,000

3,000

Gain on sales of investment securities

2,000

2,000

0

International Business

82,00095,000(13,000)

Other extraordinary income

1,500

1,000

500

Total

13,000

9,000

4,000

Investment Management

21,00020,0001,000

Architectural Design & Engineering

20,00019,0001,000

Hotel Business

34,00034,000

0Real Estate Services

25,00025,000

0

Other

7,000

4,000

3,000

(22,000)(22,000)

0

Revenue from Operations

Eliminations

1,202,000

1,200,000

2,000

Office Building Business

143,000

140,000

3,000

Lifestyle Property Business

30,00026,0004,000

Residential Business

20,00020,0000International Business

24,00023,0001,000

Investment Management

3,000

3,000

0

Architectural Design & Engineering

500

500

0
0

Hotel Business

1,500

1,500

Real Estate Services

1,500

1,500

0

Other

1,000

0

1,000

Eliminations or Corporate
Operating Income
Non-operating revenue
Non-operating expense
Income Before Taxes and Special Items(19,500)(20,500)

1,000

205,000

195,000

10,000

9,000

8,000

1,000

35,00032,0003,000

179,000

171,000

8,000

Extraordinary income

13,000

9,000

4,000

Extraordinary loss

7,000

5,000

2,000

185,000

175,000

10,00057,00053,0004,000

128,000

122,000

6,000

16,00014,0002,000

112,000

108,000

4,000

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

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

3,500

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

FY2018Current
Estimates

FY2018Previous
Estimates

ChangeLoss related to retirement of fixed assets

7,000

5,000

2,000

Total

7,000

5,000

2,000

＜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

Change34,00028,0006,000

14,00013,0001,000* 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

FY2018Current
Estimates

Overseas Operating Income

25,000FY2018Previous
Estimates

24,000Change1,000* Overseas Operating Income: Sum of operating income from International Business Group and other overseas operations.

54. Balance Sheet Results at Periods Ended Sep 30, 2017 and Mar 31, 2017
Millions of yen (rounded down)

At Sep 30, 2017 At Mar 31, 2017

Millions of yen (rounded down)

ChangeAt Sep 30, 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

238,079
37,946
11,031
55,325
394,640
1,261
12,125
1,182

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

(5,601)(5,876)(2,483)(4,870)56,712
203
4,034
161

9. Equity investments

311,775

292,764

19,011

Total current liabilities

11,13977,533(273)
1,151,767

10,73069,152(270)
1,081,690

408
8,381
(3)
70,077

1,037,383
20,724
2,073,134
707,356
103,650
13,8903,956,140

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

5,096
(998)
85,790(1,444)
11,282(342)
99,38373,12922,84995,97873,81625,72599,542(687)(2,876)(3,563)

271,662
1,372
104,830
18,554
11,38278,733(1,715)484,820
4,536,940
5,688,708

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

26,791(16)(1,319)
9,066
299
3,947
(73)
38,695
134,515
204,592

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

Change49,277
126,403137,202
36,000101,200
16,412
212,780

56,09986,415
149,281
85,075
16,471
572
192,708(6,821)
39,987(12,078)
36,00016,125(58)(572)
20,072

679,277

586,623

92,654

751,550
1,317,099
402,126
225,451
263,548
29,155644
4,831
93,407
116,9143,204,728
3,884,006

777,712
1,292,854
398,014217,565
263,661
22,042834
4,831
90,53561,9783,130,031
3,716,654(26,162)
24,244
4,111
7,886
(112)
7,112
(189)
(0)
2,872
54,93574,697
167,352

141,898
161,736
700,972(5,317)
999,289

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

239
258
26,712
171
27,382

124,08351
526,873(20,138)(1,526)629,344353
175,7141,804,701
5,688,708

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

14,439(22)(254)(6,775)
1,086
8,474
(175)
1,560
37,240204,592

II. Highlights
1. Major Performance Items (Consolidated)

Millions of yen (rounded down)

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

1,110,259

1,009,408

511,753

1,125,405

485,838

1,202,000

Operating income

156,332

166,199

92,148

192,495

84,278205,000

Income before taxes and special items

133,113

144,851

84,275

169,851

73,961

179,000

Profit attributable to owners of parent

73,33883,42657,514

102,681

41,729112,000

Total assets

4,901,526

5,311,840

5,415,170

5,484,115

5,688,708

5,800,000

Shareholders' equity *1

1,495,838

1,509,680

1,501,559

1,592,777

1,628,633

1,670,000

Interest-bearing debt

1,929,355

2,291,038

2,403,648

2,396,994

2,474,831

2,520,000

Cash flow from operating activities

200,078

135,821

14,188

168,527

50,717

181,000

Cash flow from investing activities(46,568)(231,003)(168,469)(327,292)(107,155)(335,000)

Cash flow from financing activities(189,109)309,237

30,221(4,921)

53,38677,000EBITDA *2

239,934

252,034

136,163279,718

128,586

293,000

Return on assets (ROA) *3,6
Interest coverage ratio (ICR) *4
Return on equity (ROE) *5,6
Earnings per share (EPS) (Yen)

3.2 %

3.3 %

3.4 %

3.6 %

3.0 %

3.6 %

7.7 times

8.5 times

8.4 times

8.7 times

7.6 times

8.8 times

5.2 %

5.6 %

7.6 %

6.6 %

5.2 %

6.9 %

52.85

60.13

41.45

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)*6 The Return on assets (ROA) and the Return on equity (ROE) of FY2018-2Q and FY2017-2Q has been provisionally calculated by doubling the return of the 2Q results.

7

30.07

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

FY2017-2Q
40.9%
8.4%
33.4%
7.4%
2.4%
2.1%
3.2%
1.9%
0.3%

223,067
40,735
175,932
34,046
11,323
8,378
16,222
10,714
2,138(10,805)
511,753

42.7%
7.8%
33.7%
6.5%
2.2%
1.6%
3.1%
2.1%
0.3%

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

FY2018 (Estimates)

FY2018-2Q
42.1%
7.7%
35.5%
5.8%
1.9%
1.7%
2.9%
2.1%
0.3%

226,054
50,242
131,628
38,963
11,7037,000
16,006
11,418
4,569(11,749)
485,838

45.4%
10.1%
26.5%
7.8%
2.4%
1.4%
3.2%
2.3%
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

FY2017-2Q
64,104
11,115
9,492
14,011
2,906
(81)
771
(100)
111
(10,184)
92,148FY2017
133,570
25,807
19,253
26,313
4,520
445
1,932
2,157
289
(21,793)
192,495

FY2018-2Q
67,962
14,358(1,760)10,649
3,056
(342)
381
43
1,079
(11,149)
84,278FY2018 (Estimates)
143,000
30,00020,00024,000
3,000
500
1,500
1,500
1,000
(19,500)
205,000

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

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) %

28.7 %
27.3 %
5.4 %
41.2 %
25.7 %(1.0) %
4.8 %(0.9) %
5.2 %

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

30.1 %
28.6 %(1.3) %
27.3 %
26.1 %(4.9) %
2.4 %0.4 %23.6 %

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

14.1 %

16.5 %

18.0 %

17.1 %

17.3 %

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
74,245FY2017-2Q
23,221
6,230
1,640
3,474
2,228
54
742
165
32
106
37,897FY201747,755
12,704
3,144
5,913
4,216
113
1,478
343
64
240
75,974FY2018-2Q
23,771
6,630
1,534
3,179
1,970
59
720
160
26
74
38,127FY2018 (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

FY2017-2Q
204
34
1,515
1,027
0
2,781

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

FY2018-2Q

FY2018 (Estimates)

204
34
1,515
26
989
2,770

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

FY2017-2Q
87,52917,37912,647
17,485
6,161
(27)
1,513
65
143
(10,078)
132,826

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

FY2018 (Estimates)

FY2018-2Q
91,93721,022
1,289
13,854
6,015
(283)
1,101
203
1,105
(11,075)
125,175

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

FY2016FY2017-2Q

FY2017FY2018 (Estimates)

FY2018-2Q

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

79,163
15,182
12,37917,133
108
68
142
346
3
1,001
125,528

162,651
59,05427,26739,724
201
182
734
568
274
3,055
293,71654,03820,234
8,172
32,515
6,769
258
450
107
3,216
(983)
124,782-

At Mar 31, 2015

At Mar 31, 2016

At Sep 30, 2016

At Mar 31, 2017

At Sep 30, 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)FY2017-2Q
111.70102.91
159.97138.41

AR:Average Rate, CR:Current Rate

FY2018-2Q
112.34112.00141.38145.79*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)
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

3,426,322
435,734
630,806
464,676
126,217
25,84527,642
23,154
12,095
242,674
5,415,170

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

3,496,225
492,315
643,598
618,590
104,306
24,87327,24824,24023,025234,283
5,688,708*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.

9

At Mar 31, 2018
(Estimates)
5,800,000

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

Millions of yen (rounded down)

FY2015FY2015*2

FY2016*2

FY2017-2Q *2

FY2017*2

FY2018-2Q *2

FY2018 (Estimates)*2

Leasing

416,631

347,757

353,958

185,992

376,531

190,578

388,000

Property Management

19,721

19,38921,146

10,62621,926

11,48227,000Contracted Work

14,50014,50014,597

6,531

12,552

6,554

11,000District Heating and Cooling Services

8,724

8,724

8,387

4,380

8,280

4,341

8,000

Other (Sales of assets etc.)

128,083

94,44324,25915,53764,947

13,09767,000

Total

587,660

484,816

422,349

223,067

484,238

226,054

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 Sep 30, 2016

At Mar 31, 2017

At Sep 30, 2017

4,184

3,470

3,534

3,557

3,612

Owned by MEC

2,629

2,074

2,230

2,182

2,244

Subleases

1,555

1,395

1,303

1,376

1,368

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 Sep 30, 2016

At Mar 31, 2017

At Sep 30, 2017

At Mar 31, 2018
(Estimates)

Owned by MEC

3,326

3,265

3,255

3,414

3,490

3,483

Subleases

2,345

1,909

1,973

1,971

1,953

2,004

Total

5,670

5,174

5,234

5,385

5,443

5,487

(2) Leasable area

3,504

3,192

3,291

3,357

3,394

3,433

(3) Vacancy rate (All uses in Japan)

2.80 %

2.22 %

2.93 %

2.93 %

2.75 %(1) Total operating floor space(4) Average rent (All uses in Japan)

23,587

25,23425,42925,842

25,840* 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 Sep 30, 2016

At Mar 31, 2017

At Sep 30, 2017

Operating floor space

2,583

2,531

2,592

2,727

2,783

Leasable area

1,571

1,466

1,552

1,603

1,649

Office vacancy rate
Building lease revenue

1.82 %
202,784

1.37 %
202,337

1.97 %
105,874

2.42 %
216,67310

2.80 %
109,691

2.5 %
26,0007. Lifestyle Property Business Retail Properties Data (Consolidated)(Thousands of square meters)

At Mar 31, 2016

At Sep 30, 2016

At Mar 31, 2017

At Sep 30, 2017

680

679

680

683

Contracted area

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

8. Condominium Business Data
FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

239,422

215,762

87,879223,266

56,082

267,000

Condominiums sold (units)

4,603

3,868

1,555

3,713

799

4,200

Gross margin17.3 %

18.7 %

16.8 %

19.4 %

16.5 %

18.1 %

Inventory (units)

141

188

264

326

271

-

New Supply of condominiums (units)

5,119

3,641

1,634

3,236

1,715

3,600

442,367

442,068

333,756

412,855

308,548---

198,061-

226,937-

The following fiscal year share (Millions of yen)

130,792

140,563

126,738

167,887

79,886-

The post following fiscal year share (Millions of yen)

71,08986,3898,958

20,395

1,725-

Central Tokyo

Other area of Tokyo

Kanagawa, Saitama, Chiba

Condominiums sold (Millions of yen)

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

* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales

Breakdown of Land Acqusition in the first half of FY2018

25.6 ％

12.1 ％

54.9 ％* The figures are based on Revenue.

9. Total Assets of Major Overseas Subsidiaries
Main Location

At Sep 30, 2017 *1,2,3

Currency Exchange Rate

Rockefeller Group, Inc.

USA

419,790 millions of yen¥ / $(BS)112.00Mitsubishi Estate London Limited.

UK

142,292 millions of yen¥ /£(BS)145.79Mitsubishi Estate Asia Pte. Ltd. *4

Asia

74,862 millions of yen¥ /S$(BS)81.24*1 Before consolidation adjustments.
*2 Due to overseas subsidiaries closing accounts in December, figures from 3 months previous are used.
*3 The Total Assets of Major Overseas Subsidiaries includes those in the International Business and the Investment Management Business.
*4 Including the equity investments directly made by Mitsubishi Estate.

11

Other area of Japan7.5 ％10. Special Purpose Vehicle Data

Millions of yen (rounded down)

At Mar 31, 2015

At Mar 31, 2016

At Sep 30, 2016

At Mar 31, 2017

At Sep 30, 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

165,017

168,753

163,869

102,31179,00573,42476,66465,701

102,552

76,70473,21378,28868,099102,530

76,70473,21378,28868,099157,971

97,69397,56897,56884,918157,871

97,593

97,46897,46884,81831,09732,062

37,03638,998

7,245

8,211

13,184

15,146

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

2,488

3,220

6,892

6,896

2,488

3,220

6,892

6,896

8,297

11,064

19,276

19,098

10,964

19,17618,998

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

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity investment by other companies(Unconsolidated)

-

-

-

-

-

-

-

-

-

-

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

206,914203,795

197,080

205,789

202,867

102,31186,25081,63589,84980,848102,552

79,192

76,43385,181

74,996

102,530

79,192

76,43385,181

74,996

157,971

105,990108,632

116,845

104,017

157,871

105,790

108,432

116,645

103,817* 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 Sep 30, 2016

At Mar 31, 2017

At Sep 30, 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

279,427
36,454
8,481
75,121
377,282
8,778
10,736
1,003
268,223
13,85366,087(317)
1,145,134

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

238,079
37,946
11,031
55,325
394,640
1,261
12,125
1,182
311,775
11,13977,533(273)
1,151,767

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

966,036
21,0762,086,348
572,643
102,134
15,122
3,763,362

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

1,037,383
20,724
2,073,134
707,356
103,650
13,8903,956,140

87,021
33,210120,232

75,49432,289107,784

74,51826,982
101,501

73,81625,72599,542

73,12922,84995,978280,809
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

209,781
1,436
110,776
9,758
10,67164,403(1,654)405,172
4,270,036
5,415,170

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

271,662
1,372
104,830
18,554
11,38278,733(1,715)484,820
4,536,940
5,688,708

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 Sep 30, 2016

Millions of yen (rounded down)
At Mar 31, 2017
At Sep 30, 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

61,443
92,941
170,778
98,04914,157
184,235
621,605

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

49,277
126,403137,202
36,000101,200
16,412
212,780
679,277

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

792,787
1,242,898
402,533
198,158
280,480
31,678739
4,831
89,30083,971
3,127,380
3,748,986

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

751,550
1,317,099
402,126
225,451
263,548
29,155644
4,831
93,407
116,9143,204,728
3,884,006

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

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

141,659
161,419644,748(5,411)
942,415

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

141,898
161,736
700,972(5,317)
999,289

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

90,187(416)
521,839(41,627)(10,839)559,143529
164,095
1,666,183
5,415,170

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

124,08351
526,873(20,138)(1,526)629,344353
175,7141,804,701
5,688,708

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
Other extraordinary income
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

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

1,110,259
156,332

1,009,408
166,199

511,753
92,1481,125,405
192,495

485,838
84,2781,202,000
205,000

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

284
4,556
605
5,503
10,949

156
2,429
750
3,620
6,956

268
4,634
872
3,605
9,380

146
2,895
368
2,284
5,694

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

11,404
1,234
2,190
14,82984,27522,743
4,453
4,827
32,024
169,851

11,521
2,117
2,371
16,01173,961

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

2,134
2,134

9,500
2,000
1,500
13,0006,190
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

1,832
6,431
8,264
91,48319,891
7,136
64,455
6,940
57,514

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

76,096
26,042(1,676)
51,73010,00041,7297,000
7,000
185,000

15

57,000128,000
16,000112,000

3. Consolidated Cash Flow Statements

Millions of yen (rounded down)
FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Income before income taxes and minority interests

100,201

141,850

91,483

162,881

76,096

185,000

Adjustment for extraordinary income or loss

32,954(318)(3,442)

12,2491,711(6,500)Depreciation and amortization

72,696

74,24537,89775,974

38,12776,500Decrease (increase) in inventories

110,219(33,202)

7,031

84,853(24,492)

36,000Decrease (increase) in equity investments(35,973)(32,487)(17,257)(32,460)(21,261)(105,000)

Other(45,659)

9,316(72,704)(82,780)

11,25738,500

Income taxes, etc.

(34,360)(23,582)(28,818)(52,189)(30,721)(43,500)

Net cash provided by (used in) operating activities

200,078

135,821

14,188

168,527

50,717

181,000

624

29,043

5,476

10,6348,473

13,000

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

167,645

22,806

1,072

11,328

12,582

13,000Capital investment(177,331)(275,316)(115,207)(275,372)(116,917)(332,000)

Other(37,506)(7,536)(59,811)(73,883)(11,294)(29,000)

Net cash provided by (used in) investing activities(46,568)(231,003)(168,469)(327,292)(107,155)(335,000)

Newly acquired funds

328,053

503,154

145,850

298,515

126,571374,000

Repayment(505,027)(154,773)(83,019)(243,051)(122,687)(249,000)

Cash dividends paid

(21,684)(29,082)(17,979)(33,709)(23,425)(41,000)

9,549(10,061)(14,629)(26,676)

72,928(7,000)Net cash provided by (used in) financing activities(189,109)309,237

30,221(4,921)

53,38677,000Effect of exchange rate on cash and cash equivalents

1,235

(153)

(8,567)(5,144)(1,417)-

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

213,902(132,627)(168,830)(4,469)(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

279,764

243,341

238,872

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)

FY2015FY2016FY2017-2Q

FY2017

4,901,526

5,311,840

5,415,170

Capital investment

177,331

275,316

Depreciation

72,696

74,245

Total assets

Capital investment

FY2018-2Q

FY2018 (Estimates)

5,484,115

5,688,708

5,800,000

115,207275,372

116,917332,000

37,89775,974

38,12776,500Millions of yen (rounded down)

FY2018-2Q

FY2018 (Estimates)

Total

116,917

Total

332,000

Mitsubishi Estate

53,117

Mitsubishi Estate

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

36,223

Marunouchi redevelopment
construction cost etc.

115,000

8,154

Refurbishment cost etc.

21,000Lifestyle Property Business

5,697

Lifestyle Property Business

26,000Other

Office Building Business

63,800(Breakdown)

Other

161,000(Breakdown)

Rockefeller Group, Inc.

33,184Rockefeller Group, Inc.

46,000Tokyo Ryutsu Center

12,007

Mitsubishi Jisho Residence

30,000Mitsubishi Jisho Residence

7,324Tokyo Ryutsu Center

15,000Consolidated TMK

6,726

Mitsubishi Estate・Simon

10,000Sunshine City

1,666

Consolidated TMK

9,000

Mitsubishi Estate・Simon

1,461

Sunshine City

9,000

Marunouchi Heat Supply

1,110

Marunouchi Heat Supply

3,000Royal Park Hotels & Resorts

2,000

Yokohama Sky Building

2,000

Mitsubishi Estate Europe

2,000

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Interest-bearing debt

1,929,355

2,291,038

2,403,648

2,396,994

2,474,831

2,520,000

Net interest-bearing debt *1

1,730,866

1,878,645

2,123,883

2,153,652

2,235,958

2,350,000

Interest expense

21,09920,18911,40422,743

11,521

24,000Financial income and expense (net) *2(16,234)(15,348)(8,818)(17,841)(8,479)(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 %

0.97 %

0.97 %

0.95 %

0.98 %

Debt equity ratio *4

1.29

1.52

1.60

1.50

1.52

1.51

-

1.33

1.33

1.26

1.28

1.27

7.5 times

7.8 times

7.7 times

8.7 times

8.0 times

7.0 times

7.2 times

7.1 times

8.0 times

7.4 times

After hybrid debt deductions *5

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

7.2 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
FY2018-2Q Results

Millions of yen (rounded down)

Share of MEC-

Mitsubishi Estate Co., Ltd.

Revenue from
Income before taxes
Operating income
and special items
operations
211,604
48,61967,538Net income

Total assets

56,365

4,688,608

Shareholders' equity Interest-bearing debt

1,423,923

2,193,002

Depreciation
21,934

Mitsubishi Jisho Property Management Co., Ltd.

100.00%34,378

2,488

2,485

1,700

64,22014,801

5

47

Marunouchi Heat Supply Co., Ltd.

64.16%

7,234

1,169

1,064

837

26,473

21,879

1,864

1,175

Sunshine City Corporation

63.20%

15,086

4,626

4,299

2,978

108,422

59,37924,021

2,618

Mitsubishi Estate・Simon Co., Ltd.

60.00%

21,706

8,856

8,990

6,161

96,70137,73825,347

2,553

Tokyo Ryutsu Center Inc.*

56.15%

3,851

1,080

983

698

64,14732,59824,518814

Mitsubishi Jisho Residence Co., Ltd.

100.00%83,391

(106)

(885)

(321)

575,836

57,153452,030801

Mitsubishi Estate Home Co., Ltd.

100.00%9,230(1,248)(1,229)(1,231)

11,637

140

-

115

Mitsubishi Jisho Community Co., Ltd.

71.47%

23,965

1,484

1,517

1,123

15,427

7,965

-

178

Rockefeller Group, Inc.

100.00%41,257

11,078

10,294

3,057

419,790

230,447

139,028

3,732

Mitsubishi Estate Europe Limited

100.00%

3,437

1,368

1,158

766

142,292

75,95062,398

1,044

Mitsubishi Jisho Sekkei Inc.

100.00%

6,489

400

403

258

22,615

15,909-54

Royal Park Hotels & Resorts Co., Ltd.

100.00%11,681

386

379

231

10,014

1,801

3,537

356
368

Royal Park Hotel Co., Ltd.

55.71%

4,792

11

(24)

(24)

15,379

7,861

3,625

Mitsubishi Real Estate Services Co., Ltd.

100.00%11,4188998

41

22,854

14,42022

160-

485,838

84,27873,961

41,7295,688,708

1,628,633

2,474,831

38,127* 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.

FY2018 Estimates

Millions of yen (rounded down)

Share of MEC
Mitsubishi Estate Co., Ltd.

-

Revenue from
Income before taxes
Operating income
and special items
operations
476,000
109,000
119,000

Net income
105,000

Total assets
4,750,000

Shareholders' equity Interest-bearing debt

1,440,000

2,209,000

Depreciation
44,000Mitsubishi Jisho Property Management Co., Ltd.

100.00%69,647

4,844

4,834

3,334

65,795

16,435

1

128

Marunouchi Heat Supply Co., Ltd.

64.16%

13,842

1,149

1,048

824

34,072

21,866

9,428

2,431

Sunshine City Corporation

63.20%

27,923

6,766

5,424

3,750

117,136

60,15030,9895,246

Mitsubishi Estate・Simon Co., Ltd.

60.00%

44,66017,852

18,057

12,295

103,145

42,02528,501

5,226

Tokyo Ryutsu Center Inc.

56.15%

8,469

2,002

1,719

1,203

64,29833,10323,631

1,917

Mitsubishi Jisho Residence Co., Ltd.

100.00%318,000

22,00020,70014,600649,000

78,000470,000

1,557

Mitsubishi Estate Home Co., Ltd.

100.00%29,660

224

246

161

12,000

1,532

-

250

Mitsubishi Jisho Community Co., Ltd.

71.47%

49,004

2,619

2,629

1,842

17,039

8,864

-

322

Rockefeller Group, Inc.

100.00%84,027

18,796

15,732

2,712

403,642

211,952

149,856

7,208

Mitsubishi Estate Europe Limited

100.00%

7,147

3,101

2,675

(5,135)

118,54259,85558,142

1,979

Mitsubishi Jisho Sekkei Inc.

100.00%16,900

1,600

1,630

1,090

23,447

16,741-

110

Royal Park Hotels & Resorts Co., Ltd.

100.00%25,060

1,279

1,263

810

12,400

3,188

2,937

782

Royal Park Hotel Co., Ltd.

55.71%

10,049

367

264

168

15,304

8,054

3,415

788

Mitsubishi Real Estate Services Co., Ltd.

100.00%24,593

1,500

1,466

976

20,053

11,61927348-

1,202,000

205,000

179,000

112,000

5,800,000

1,670,000

2,520,000

76,500* Before consolidation adjustments.

18

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

May 7, 1937

The Others

Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

414,683

380,951

208,992

416,619

211,604

Gross profit

98,40695,302

57,641

104,908

62,008135,000

Operating income

77,56475,92544,57678,495

48,619109,000

Income before taxes and special items

79,87567,77049,766

95,882

67,538

119,000

Net income

51,34743,41836,46278,541

56,365

105,000

Total assets

4,067,775

4,486,547

4,520,926

4,575,250

4,688,608

4,750,000

Shareholders' equity

1,289,332

1,289,256

1,316,224

1,367,731

1,423,923

1,440,000◇Office Building Business Data (Unconsolidated)

476,000

Millions of yen (rounded down)

FY2015
Revenue from operations

FY2016384,204

FY2017-2Q

335,267

FY2017

182,545

FY2018-2Q

365,094

FY2018 (Estimates)

184,087

420,000

Gross profit
94,49488,45655,484
109,866
59,422131,000*1 As of April 2015, the Domestic Retail Business and 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.
◇Total Assets, Current assets, Fixed assets, Property and equipment, Capital Investment, and Depreciation（Unconsolidated）
FY2015FY2016FY2017-2Q

Millions of yen (rounded down)

FY2017FY2018-2Q

FY2018 (Estimates)

Total assets

4,067,775

4,486,547

4,520,926

4,575,250

4,688,608

4,750,000

Current assets

471,543

1,087,124990,392

864,059

912,480-

Fixed assets

3,596,231

3,399,423

3,530,533

3,711,191

3,776,128-（Property and equipment）

2,574,747

2,658,724

2,713,673

2,917,533

2,930,227-

Capital investment*

97,790145,435

70,654

177,10753,117

171,000

Depreciation

42,01839,922

21,05843,44021,93444,000* Major inter-group transactions are eliminated.
◇Interest-Bearing Debt (Unconsolidated)

Millions of yen (rounded down)

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Interest-bearing debt

1,716,149

2,053,148

2,179,225

2,137,065

2,193,002

2,209,000

Net interest-bearing debt *1

1,655,484

1,757,121

1,998,796

2,016,733

2,085,545

2,153,000

Interest expense

17,42817,67010,075

20,160

10,15220,000Financial income and expense (net) *2

5,031(3,874)

3,641

19,141

21,032

16,000

Average interest rate *3

1.05 %

0.94 %

0.95 %

0.96 %

0.94 %

Fixed interest ratio

63.28 %

67.90 %

69.84 %

74.17 %

74.52 %-%

Long-term debt ratio

95.85 %

98.45 %

98.94 %

99.06 %

96.91 %-%

Debt equity ratio *4

1.33

1.59

1.66

1.56

1.54

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

19

0.92 %

1.53

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%Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

65,62067,95832,88566,741

34,37869,647

Operating income

4,145

4,668

2,017

4,777

2,488

4,844

Income before taxes and special items

4,183

4,676

2,016

4,780

2,485

4,834

Net income

2,681

3,166

1,380

3,172

1,700

3,334

Total assets

70,08377,562

70,692

67,97364,22065,795

Shareholders' equity

22,89325,16525,491

15,216

14,801

16,43520

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%

Millions of yen (rounded down)

FY2015

Changes in Business Results
Revenue from operations

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

13,72813,226

6,974

13,293

7,234

13,842

Operating income

482

1,100

1,184

1,235

1,169

1,149

Income before taxes and special items

475

1,115

1,173

1,170

1,064

1,048

Net income

414

1,506

892

868

837

824

Total assets

23,07026,93826,08625,48026,47334,072

Shareholders' equity

19,001

20,394

21,175

21,153

21,87921,86621

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)

FY2015

Changes in Business Results

The Others

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

27,171

26,864

13,85827,38015,08627,923Operating income

7,178

7,195

3,571

6,987

4,626

6,766

Income before taxes and special items

5,990

5,861

3,124

5,679

4,299

5,424

Net income

3,766

3,876

2,217

3,984

2,978

3,750

Total assets

97,363

100,300

96,611109,097

108,422

117,136

Shareholders' equity

51,61454,52255,58857,35959,37960,150◇Segment Information
Revenue from operations

Millions of yen (rounded down)

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Building Leasing Business

14,98914,741

7,403

14,7597,476-

Retail Properties Business

6,187

6,453

3,185

6,491

3,385

-

Direct Management Business

5,994

5,668

3,269

6,128

4,224

-

-

-

-

-

-

27,171

26,864

27,38015,08627,923Eliminations or corporate
Total

13,858Millions of yen (rounded down)

Operating income

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Building Leasing business

10,59010,523-

10,659--Retail Properties Business

2,948

3,077

-

3,446

-

-

Direct Management Business

1,125

895

-

648

-

-

Eliminations or corporate(7,485)(7,301)-(7,766)

-

-

Total

7,178

7,195

3,571

6,987

4,626

6,766

* As of FY2016, some segment changes have occurred.
◇Building Leasing Business Data
FY2015Contracted area（㎡）163,867

FY2016
162,43122

FY2017-2Q
164,884

FY2017
164,996

FY2018-2Q
162,690

FY2018 (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%The Others

Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

39,95443,946

20,73543,642

21,70644,660Operating income

14,292

16,301

7,976

17,3598,856

17,852

Income before taxes and special items

14,464

16,521

8,092

17,593

8,990

18,057

Net income

8,828

10,6995,562

12,084

6,161

12,295

Total assets

93,350101,802

95,028

101,767

96,701

103,145

Shareholders' equity

30,36434,576

34,116

38,642

37,73842,025◇Changes in store area（㎡） and number of stores
FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Store area(㎡）294,700

308,500

308,500

308,500

308,500

308,500

Number of stores

1,490

1,527

1,527

1,529

1,524

1,524

◇PREMIUM OUTLETS® data (As of Sep 31, 2017 for 9 PREMIUM OUTLETS® Centers)
Site area(㎡）2,082,000

Total floor area(㎡）357,88023

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%

Millions of yen (rounded down)

FY2017-2Q*

Changes in Business Results

FY2017*FY2018-2Q

FY2018 (Estimates)

Revenue from operations

3,591

7,118

3,851

8,469

Operating income

1,127

1,904

1,080

2,002

Income before taxes and special items

1,105

1,829

983

1,719

Net income

917

1,446

698

1,203

Total assets

45,98755,48164,14764,298

Shareholders' equity

31,56132,09332,59833,103* 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.

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%Millions of yen (rounded down)

FY2015

Changes in Business Results
Revenue from operations

FY2016FY2017-2Q

FY2017FY2018 (Estimates)

254,497

239,637

122,393298,637

83,391

318,000

Operating income

3,537

18,491

9,867

28,971(106)

22,000

Income before taxes and special items

2,753

18,163

9,055

27,358(885)

20,700Net income

3,484

9,113

7,966

22,832(321)

14,600Total assets

435,871641,736542,856

562,209575,836

649,000

72,70057,15378,000Shareholders' equity
283,555
52,906
57,834* As of April 2015, the Residential Leasing Business has been moved from Mitsubishi Estate Co., Ltd. to Mitsubishi Jisho Residence Co., Ltd.
The Others

FY2018-2Q◇Condominium Business Data
FY2018-2Q

FY2018 (Estimates)

239,422

FY2015

215,762

87,879223,266

56,082

267,000

Condominiums sold (units)

4,603

3,868

1,555

3,713

799

4,200

Gross margin17.3 %

18.7 %

16.8 %

19.4 %

16.5 %

18.1 %

Inventory (units)

141

188

264

326

271

-

New Supply of condominiums (units)

5,119

3,641

1,634

3,236

1,715

3,600

442,367

442,068

333,756

412,855

308,548---

198,061-

226,937-

130,792

140,563

126,738

167,887

79,886-

71,08986,389* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales

8,958

20,395

1,725-

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)

FY2016

The post following fiscal year share (Millions of yen)

25

FY2017-2Q

FY2017

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%Millions of yen (rounded down)

FY2015

Changes in Business Results
Revenue from operations

The Others

FY2016FY2017FY2017-2Q

FY2018-2Q

FY2018 (Estimates)

28,572

27,128

9,595

27,791

9,230

29,660Operating income

166

475

(768)

363

(1,248)

224

Income before taxes and special items

171

482

(765)

396

(1,229)246

Net income

155

382

(770)

471

(1,231)

161

Total assets

10,821

12,20911,89011,090

11,637

12,000Shareholders' equity

2,550

2,932

2,162

1,371

140

1,532

◇Number of houses (orders and sold)FY2015FY2016FY2017FY2017-2Q

FY2018-2Q

FY2018 (Estimates)

Number of houses (orders)

469

532

186

454

207

560

Number of houses (sold)

517

476

156

459

131

460

◇Changes in construction costs
FY2015Construction costs margin

FY201681.6%

26

FY2017FY2017-2Q
78.6%

79.7%

FY2018-2Q
79.5%

FY2018 (Estimates)
82.5%

80.6%

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%The Others

Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

33,36734,93723,26848,56623,96549,004

Operating income

2,283

2,262

1,193

3,059

1,484

2,619

Income before taxes and special items

2,273

2,373

1,235

3,130

1,517

2,629

Net income

1,645

1,437

762

1,931

1,123

1,842

Total assets

8,917

10,27513,012

15,79815,427

17,039

Shareholders' equity

3,416

4,207

6,451

7,622

7,965

8,864

Changes in condominium management figures
FY2015
Number of condominiums
Number of units

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

2,773

2,813

4,394

4,433

4,471

4,503

195,519

199,772

328,834

331,438

335,079

338,53827

10.Rockefeller Group, Inc.
Business Activities

Real estate operations

Date of Establishment

December 6, 1928

Share of Voting rights

100.00%Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2017-2Q

FY2016FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

70,31684,36036,80064,943

41,25784,027

Operating income

25,97920,12814,092

22,366

11,07818,796

Income before taxes and special items

24,23816,855

13,397

20,300

10,294

15,732

Net income(1,386)

8,615

6,498

4,479

3,057

2,712

Total assets

332,941

347,895

320,306

375,104

419,790403,642

Shareholders' equity

187,965

198,644

175,018

210,589

230,447

211,952* Due to overseas subsidiaries closing accounts in December, figures from 3 months previous are used in consolidated statement.
* 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 (Average Rate)

105.79121.10111.70108.78112.34110.00 ¥ / $BS (Current Rate)

120.55120.61102.91116.49112.00110.00 ¥ / $◇Segment Information

Millions of yen (rounded down)

FY2015

Revenue from operations

FY2016FY2017-2Q

FY2018-2Q

FY2017FY2018 (Estimates)

Development & Leasing Business

62,00363,941

27,70347,97232,96970,232

Other

8,313

20,419

9,097

16,9708,288

13,79570,31684,36036,80064,943

41,25784,027

Total

Millions of yen (rounded down)

FY2015

Operating income

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

27,96919,49013,303

21,547

10,913

Other

(347)

2,949

1,857

2,843

1,251

916

Corporate(1,642)(2,312)(1,068)(2,024)(1,085)(2,841)

25,97920,12814,092

22,366

11,07818,796Development & Leasing Business

Total

28

20,721

11.Mitsubishi Estate Europe Limited
Business Activities

Real estate operations

Date of Establishment

November 26, 2009

Share of Voting rights

100.00%Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

7,028

7,895

3,400

7,646

3,437

7,147

Operating income

3,006

4,307

1,960

4,352

1,368

3,101

Income before taxes and special items

2,442

3,504

1,915

4,147

1,158

2,675

Net income

1,537

2,400

1,487

3,074

766

(5,135)

Total assets

159,709

164,044

128,576

133,853

142,292

118,542

Shareholders' equity

82,28880,83664,141

67,97575,95059,855* Due to overseas subsidiaries closing accounts in December, figures from 3 months previous are used in consolidated statement.
* Mitsubishi Estate Europe Limited is a European holding company which includes Mitsubishi Estate London Limited.
PL (Average Rate)

174.18185.19159.97147.57141.38140.00 ¥ /£BS (Current Rate)

187.03178.78138.41143.00145.79140.00 ¥ /£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%The Others

Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

15,501

17,106

7,469

16,9696,489

16,900Operating income

1,746

2,934

634

1,740

400

1,600

Income before taxes and special items

1,785

2,996

658

1,776

403

1,630

Net income

883

1,944

440

1,193

258

1,090

Total assets

22,591

25,37824,19825,646

22,61523,447

Shareholders' equity

17,167

18,81818,61019,243

15,90916,741

17,188FY2018-2Q
10,037◇Amount of orders

Millions of yen (rounded down)

FY2015
Amount of orders

FY2016
16,401FY2017-2Q
16,42430

FY20177,675

FY2018 (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%Millions of yen (rounded down)

FY2015

Changes in Business Results
Revenue from operations

FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

22,07823,925

11,84524,474

11,681

25,060Operating income

478

1,098

582

1,463

386

1,279

Income before taxes and special items

425

1,019

590

1,458

379

1,263

Net income

389

935

640

1,212

231

810

Total assets

11,335

11,61011,426

11,58910,014

12,400

909

1,845

2,485

2,377

1,801

3,188

Shareholders' equity
The Others

FY2016◇Occupancy rate
FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Sendai Royal Park Hotel

65.0%

64.4%

63.8%

61.8%

77.2%

Yokohama Royal Park Hotel

88.8%

87.4%

89.3%

88.6%

90.0%

70.0%
85.7%

Royal Park Hotel THE Shiodome

93.1%

85.8%

92.7%

94.0%

94.6%

91.6%

Royal Park Hotel THE Fukuoka

88.9%

88.7%

86.8%

88.0%

88.8%

90.0%

Royal Park Hotel THE Kyoto

92.9%

92.2%

97.2%

92.3%

95.6%

93.1%

Royal Park Hotel THE Nagoya

95.2%

95.6%

94.6%

92.3%

93.8%

93.8%

Royal Park Hotel THE Haneda

84.8%

89.8%

87.4%

88.4%

91.3%

91.0%

31

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

Management of Royal Park Hotels

Date of Establishment

December 28, 1889

Share of Voting rights

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

Millions of yen (rounded down)

FY2015

Changes in Business Results

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Revenue from operations

9,917

10,090

4,838

9,981

4,792

10,049Operating income

494

346

196

475

11

367

Income before taxes and special items

353

181

169

389

(24)

264

Net income

171

270

113

267

(24)

168

Total assets

16,016

15,65814,701

15,60815,37915,304

Shareholders' equity

7,348

7,618

7,731

7,886

7,861

8,054

The Others
Occupancy rate

FY2015FY201690.4%

FY2017-2Q
89.8%

32

FY201783.7%

FY2018-2Q
85.5%

FY2018 (Estimates)
82.1%

85.9%

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%Millions of yen (rounded down)

FY2015

Changes in Business Results
Revenue from operations

The Others

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

13,93919,815

10,71424,243

11,41824,593Operating income

797

663

(63)

2,232

89

1,500

Income before taxes and special items

1,532

847

195

2,512

98

1,466

Net income

1,237

639

181

1,753

41

976

Total assets

20,772

23,502

23,05524,30722,85420,053

Shareholders' equity

15,126

15,33715,302

15,492

14,42011,619◇Segment Information
Revenue from Operations

Millions of yen (rounded down)

FY2015FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

Distribution Business

7,329

7,534

3,306

9,214

3,616

8,561

Leasing Business , etc.

6,609

12,281

7,407

15,028

7,801

16,031

Total

13,93919,815

10,71424,243

11,41824,593

Millions of yen (rounded down)

Operating income

FY2015FY2017-2Q

FY2016FY2017FY2018-2Q

FY2018 (Estimates)

Distribution Business

2,623

2,500

673

3,848

1,172

Leasing Business , etc.

329

579

439

755

327

538

(2,155)(2,416)(1,175)(2,377)(1,411)(2,745)

797

663

(63)

2,226

89

1,500

Administrative and general costs, etc.
Total

3,707

*The figre for segment operating income are before deducting sdministrative and general costs.
◇Changes in number of brokerage

Millions of yen (rounded down)

FY2015
NumberAmount of transactions

FY2016FY2017-2Q

FY2017FY2018-2Q

FY2018 (Estimates)

1,281

1,278

568

1,314

544

1,270

599,371

195,137

89,470308,884

86,715309,529

33

V．Principal Projects' Data
1. Office 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

Site area

Approx. 10,000㎡

Site area

Approx. 8,100㎡

Site area

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Approx. 23,800㎡

Site area

Approx. 8,100㎡

Total floor area

Approx. 150,000㎡

Floor area ratio

Approx. 1700%(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%

1234%

Mitsubishi Estate, The Industry Club of Japan

Business owners

Mitsubishi Estate, Nippon Life Insurance Company,

Business owners

Marunouchi Hotel, Chuo Fudosan
Schedule

2002/8 Completion

Schedule

Shin-Marunouchi Building

Schedule

2003/2 Completion

2004/8 Completion

Marunouchi Park Building and Mitsubishi Ichigokan

Mitsubishi Estate, East Japan Railway Company,
The Bank of Tokyo-Mitsubishi UFJ

Schedule

2005/10Completion

OTEMACHI FINANCIAL CITY

Marunouchi Eiraku Building（North Tower, South Tower）

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Address

Chiyoda-ku, Tokyo

Site area

Approx. 14,100㎡

Site area

Approx. 10,000㎡

Site area

Approx. 12,000㎡

Site area

Approx. 8,000㎡

Total floor area

North Tower： Approx. 110,000㎡

Total floor area

Approx. 195,000㎡

Total floor area

Approx. 205,000㎡

Total floor area

Approx. 139,000㎡

Floor area ratio

1570%

Business owners

North Tower：（Representative executing entity）

Floor area ratio

1760%

Floor area ratio

1565%

Floor area ratio

1593%

South Tower： Approx. 132,500㎡

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

2009/4
2009/9Open

2010/4

Open (Mitsubishi Ichigokan Museum)Otemon Tower·JX Building

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

Completion
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%

Mitsubishi Estate, JX Holdings

Business owners

Mitsubishi EstateBusiness owners

Mitsubishi Estate （executing entity）,

Business owners

Business owners

Otemachi Development SPC

Otemachi Development, Urban Renaissance Agency

Mitsubishi Estate,
The Tokyo Chamber of Commerce and Industry,
Tokyo Kaikan

Schedule

2015/11 Completion

Schedule

Schedule

2017/1 Completion34

2016/4 Completion

Schedule

2015/11

Construction work starting

2018/10Completion

Marunouchi 1-3 Project

Tokiwabashi District Redevelopment Project

msb Tamachi 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. 11,700㎡

Site area

Approx. 17,900㎡

Approx. 178,600㎡

Total floor area

Building A： Approx. 140,000㎡

Total floor area

Tower Ａ： Approx. 138,300㎡

Total floor area

Approx. 139,600㎡

Business owners

Urban Renaissance Agency*Both Mitsubishi Estate and Fifth-phase Urban Dedevelopment

Total floor area

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

1300%

Business owners

Mitsubishi Estate, Japanese Bankers Association,

Floor area ratio

Mizuho Financial Group

Business owners

Hotel ： Approx. 11,000㎡

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

Business owners

Mitsubishi Estate, Mitsui Fudosan

Schedule

2015/10

Construction work starting

2018/5Completion

1760%
Mitsubishi Estate, Bureau of Sewerage Tokyo
Metropolitan Government, Daiwa Securities Group,
Isetan Mitsukoshi, Tokyo Electric Power Company,

Schedule

2018/1

Construction work starting

2020/9Completion

Schedule

FY2017

Designation for Comprehensive Special Zones

Schedule

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

FY2022Completion （Building A, D）

Construction work starting （Building A, C, D）
FY2024

Construction work starting （Building B）

FY2028Completion （Building B, C）

Yokohama Landmark Tower

Grand Front Osaka

Address

Yokohama-city, Kanagawa

Address

Site area

Approx. 38,100㎡

Site area

Dai Nagoya Building

Osaka-city, Osaka

Address

Nagoya-city, Aichi

South Annex：Approx. 10,600㎡

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㎡
Approx. 392,900㎡

Business owners

Mitsubishi Estate

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

conversion plan for the Redevelopment Project.

Total floor area

SPC are designated specified business operators.

Otemachi Development, Urban Renaissance Agency

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㎡

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 EstateBusiness owners

Toyosu 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

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㎡

Business owners

Mec Urban Dedevelopment First-phase SPC

Business owners

IHI Corporation

Business owners

Sendagaya 5-chome SPC

Contractor of

Mitsubishi Estate

Contractor of

Mitsubishi Estate

Contractor of

Mitsubishi Estate

Shiba Front Building

TOYOSU FORESIA

Front Place Minami-Shinjuuku

Nishiki 2-chome Project

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

development

development
Schedule

Business owners

Nagoya Development SPC, Sekisui House

Contractor of

Mitsubishi Estatedevelopment

2014/6 Completion
Schedule

2014/7

Schedule

Completion36

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 Open

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

GOTEMBA PREMIUM OUTLETS®
所在

RINKU PREMIUM OUTLETS®

SANO PREMIUM OUTLETS®

Address
Site area
Total floor area
Store area

Business owners
Schedule

2003/7 Open (Second phase)

2002/3 Open (Second phase)

2008/3 Open (Third phase)

TOSU PREMIUM OUTLETS®

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)

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㎡

Total floor area

Approx. 32,600㎡

Total floor area

Approx. 41,300㎡

Total floor area

Approx. 49,600㎡

ﾎｰｸｽ

Store area

Approx. 28,200㎡

Store area

Approx. 35,200㎡

Store area

Approx. 42,200㎡

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

Business owners

Mitsubishi Estate・Simon

2004/3 Open (First phase)

Schedule

2005/3 Open (First phase)

Schedule

Schedule

2007/12 Open (Second phase)
2011/7 Open (Third phase)

2007/7 Open (First phase)

2006/10 Open (Second phase)

2009/12 Open (Second phase)

2010/7 Open (Third phase)

2012/12 Open (Third phase)

2014/11 Open (Fourth phase)37

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)

2013/4

Open (First phase)

2015/4

Open (Second phase)

Logistics
Logicross Fukuoka Hisayama

Logicross Atsugi

Logicross Kobe Sanda

Address

Kasuya, Fukuoka

Address

Atsugi City, Kanagawa

Address

Kobe City, Hyogo

Site area

Approx. 18,100㎡

Site area

Approx. 14,800㎡

Site area

Approx. 20,000㎡

Total floor area

Approx. 40,000㎡

Total floor area

Approx. 29,900㎡

Total floor area

Approx. 14,400㎡

Business owners

Mitsubishi EstateBusiness owners

Atsugi development SPC

Business owners

Mitsubishi Estate

Schedule

2014/10 Completion

Schedule

2017/3

Schedule

2017/6

Completion

Tokyo Ryutsu Center Distribution B Building
Address

Ota-ku, Tokyo

Total floor area

Approx. 171,300㎡

Business owners

Tokyo Ryutsu Center

Schedule

2017/6 Completion

38

Completion®

３．Residential Business
Principal projects (Scheduled for delivery in FY2018)
Projects

Address

Total units

Site area

The Parkhouse Urawa Tower

Urawa City, Saitama

146*

The Parkhouse Nakano Tower

Nakano-ku, Tokyo

178*

Scheduled for delivery

Business owners

Approx. 3,000㎡

2017/5

Mitsubishi Jisho Residence, Daiei Real Estate & Development*142 units for general sale

Supplemental

Approx. 1,900㎡

2017/9Mitsubishi Jisho Residence, Funenkousha*149 units for general sale*777 units for general sale

The Parkhouse Nishi Shinjuku Tower 60

Shinjuku-ku, Tokyo

954*

Approx. 7,500㎡

2017/11

Mitsubishi Jisho Residence, Sotetsu Real Estate,
Marubeni Corporation

The Parkhouse Shinjuku Gyoen

Shinjuku-ku, Tokyo

52

Approx. 5,700㎡

2017/11

Mitsubishi Jisho Residence

Brillia THE TOWER TOKYO YAESU AVENUE

Chuo-ku, Tokyo

387

Approx. 3,000㎡

2017/11

Mitsubishi Jisho Residence, Tokyo Tatemono

The Parkhouse Chiyoda Kojimachi

Chiyoda-ku, Tokyo

77*

Approx. 1,000㎡

2017/12

Mitsubishi Jisho Residence*59 units for general sale

The Parkhouse Yamabuki Kagurazaka

Shinjuku-ku, Tokyo108*

Approx. 2,300㎡

2018/1

Mitsubishi Jisho Residence*86 units for general sale

The Parkhouse Nakanoshima Tower

Osaka City, Osaka894

Approx. 6,600㎡

2018/2

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

Rokakoen The Residence

Setagaya-ku, Tokyo

389

Approx. 15,300㎡

2018/3

Mitsubishi Jisho Residence, Nomura Real Estate Development,
Secom Homelife

The Parkhouse Kokubunji Shiki no Mori

Kokubunji City, Tokyo

494

Approx. 19,000㎡

2018/3（Forest）
2018/10（Garden）

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

Site area

Scheduled for delivery

Business owners

Principal projects (Scheduled for delivery in FY2019)
Projects

Address

Total units

The Parkhouse Shirokane 2-chome Tower

Minato-ku, Tokyo

172

Approx. 2,900㎡

2018/8Mitsubishi Jisho Residence, Nomura Real Estate Development

The Parkhouse Sakurazaka Sunriant

Fukuoka City, Fukuoka

322

Approx. 12,700㎡

2018/10

Mitsubishi Jisho Residence, Nishi-Nippon Railroad

The Parkhouse Oikos Kanazawa Bunko

Yokohama City,
Kanagawa

323

Approx. 8,000㎡

2019/2

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

Makuhari Bay-Park Cross Tower & Residence

Chiba City, Chiba

497

Approx. 17,100㎡

2019/3

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

The Parkhouse Oikos Akabane Shimo

Kita-ku, Tokyo

500

Approx. 18,100㎡

2019/3

Mitsubishi Jisho Residence, Daiei Real Estate & Development,
Mitsubishi Logistics

Supplemental

Principal projects (Scheduled for delivery after FY2019)
Projects

Address

Total units

Site area

Scheduled for delivery

Business owners

Approx. 2,000㎡

2019/6

Mitsubishi Jisho Residence, Obayashi-Shinseiwa Real Estate,
Daiei Real Estate & Development

159

Approx. 2,200㎡

2019/9Mitsubishi Jisho Residence, Well Holdings

Shibuya-ku, Tokyo

56

Approx. 2,000㎡

2019/9Mitsubishi Jisho Residence, NTT Urban Development,
Tokyu Land Corporation

Leafia Tower Ebina Across Court

Ebina City, Kanagawa

304

Approx. 22,400㎡

2020/1

Mitsubishi Jisho Residence, Odakyu Real Estate,
Odakyu Electric Railway

The Parkhouse Kobe Tower

Kobe City, Hyogo

352

Approx. 3,100㎡

2020/2

Mitsubishi Jisho Residence, JR West Real Estate & Development,
Mitsubishi Logistics, Yasuda Real Estate

The Parkhouse Sagami Ono

Sagamihara City,
Kanagawa

136

The Parkhouse Akasaka Tower Resodence

Fukuoka City, Fukuoka

The Parkhouse Ebisu Minami

39

Supplemental*50 units for general sale

４．International Business
1271 Avenue of the Americas
Address
Owner1221 Avenue of the Americas

Manhattan, New York, U.S.A.

Address

Rockefeller Center North, Inc.

Owner

Mitsubishi Estate 100%

Approx. 8,950㎡

Queens, New York, U.S.A.

Address

Rock-1221, Inc.

Developer

RGII, F&T Group, Aecom Capital

Owner

Mitsubishi Estate

Site area

UTA Plaza & The Ice House

Address

OthersSite area

Flushing Commons Development Project

Manhattan, New York, U.S.A.

55%

Los Angeles, California, U.S.A.
UTA Plaza: UTA Plaza LLC
The Ice House： Ice House Beverly Hills LLC

45%

Approx. 10,100㎡

Building use

Office, Residence, Retail, Parking

Site area

Approx. 6,300㎡ （First phase）

Site area

Approx. 13,800㎡

Leasable area

Approx. 21,900㎡

Schedule

1985 Completion (UTA Plaza) *Refurbished in 2012

Leasable area

Approx. 195,000㎡

Leasable area

Approx. 240,700㎡

Total floor area

Approx. 37,200㎡ （Firstphase）

Schedule

1959 Completion

Schedule

1972 Completion

Schedule

2014 Construction work starting

1925 Completion (The Ice House) *Refurbished in 20142016 Completion（Office Tower）

2014 Acquisition2017 Completion (Residence Tower）
Participation

1990

Participation

1990

Participation

2013

Participation

2014

Address

Boston, Massachusetts, U.S.A.

Address

Fort Lauderdale, Florida, U.S.A.

Address

Perris, California, U.S.A.

Address

Tysons, Virginia, U.S.A.

Owner

28 State Street LLC

Developer

RGII, Stiles Residential Group

Developer

RGII、MBK Real Estate LLC

Developer

RGII, The Meridian Group

Building use

OfficeBuilding use

Rental apartment

Building use

Logistics

Building use

Office, Retail

Site area

Approx. 3,100㎡

Site area

Approx. 5,000㎡

Site area

Approx. 280,000㎡

Site area

Approx. 16,700㎡

Leasable area

Approx. 53,200㎡

Total floor area

Approx. 28,800㎡

Total floor area

Approx. 134,000㎡

Total floor area

Approx. 41,000㎡

1968 Completion *Refurbished in 1997

Schedule

2014 Construction work starting

Schedule

2017 Construction work starting

Schedule

28 State Street

Schedule

Amaray Las Olas2014 Acquisition
Participation

2014

Address

2016 Completion
Participation

2014

London, U.K.

Address

2016

London, U.K.

Address

Mitsubishi Estate London Limited

Owner

Mitsubishi Estate London Limited

Owner2016 Construction work starting2018 Completion

Participation

2017

London, U.K.

Address

London, U.K.

Central Saint Giles Limited Partnership

Owner

8 Finsbury Circus*

Mitsubishi Estate 100%

Boro Tower

2018 Completion
Participation

Paternoster Square*

Owner

Optimus Logistics Center

Central Saint Giles

1 Victoria Street

Mitsubishi Estate London Limited
Mitsubishi Estate 100%

Mitsubishi Estate 50%

Mitsubishi Estate 100%

L&G 50%Site area

Approx. 2,200㎡

Building１（Warwick Court）
Site area
Leasable area

Approx. 3,300㎡
Approx. 18,500㎡

Leasable area
Schedule

Site area

Approx. 7,900㎡

Leasable area

Approx. 38,800㎡ (Not including residential)

Schedule

2010 Completion

Participation

2007

Approx. 15,700㎡
2007 Acquisition
2016 Completion

Site area

Approx. 7,900㎡

Leasable area

Approx. 31,200㎡

Schedule

1960s
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

46 Rue La Boétie

Feringastrasse 10-12

Address

London, U.K.

Address

London, U.K.

Address

Paris, France

Address

Munich, Germany

Owner

Mitsubishi Estate 100%

Owner

Mitsubishi Estate London Limited

Owner

46 Boetie Property SARL

Owner

Mitsubishi Estate 100%

Mitsubishi Estate 100%

Mitsubishi Estate 100%

Site area

Approx. 2,700㎡

Site area

Approx. 1,800㎡

Site area

Approx. 580㎡

Site area

Approx. 12,000㎡

Leasable area

Approx. 18,600㎡

Leasable area

Approx. 8,000㎡

Leasable area

Approx. 2,400㎡

Leasable area

Approx. 22,000㎡

1977 Completion (6-8 Bishopsgate)

Schedule

1930s Completion *Refurbished in 2003

Schedule

1964 Completion *Refurbished in 2008

Schedule

2003 Completion *Refurbished in 2012

Schedule

1979 Completion (150 Leadenhall Street)2013 Acquisition

2014 Acquisition2017 Acquisition

2011 Acquisition
Participation

2011

Participation

2013

Address

Participation

2014

Singapore

Address

Ho Chi Minh City, Vietnam

Address

CapitaLand Singapore Limited 65%

Developer

CapitaLand Vietnam Investments Pte. Ltd. 50%

Developer

Sky Habitat

Developer

Participation

2017

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

Site area

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

Participation

2011

Address

Participation

2010

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

Residence, Retail, Parking

Schedule

2013 Construction began

Building use

Residence, Retail, Parking

Building use

Schedule

2012 Construction began

Schedule

2019 Completion

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

2011

Participation2017 Construction began
2020 Completion2017 Completion（Second-phase）

2012

Participation

41

2013

2016