■July 31, 2015

MITSUBISHI ESTATE

FACT BOOK 2016/3-1st Q

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

■Contents
Page/sI. Performance Comparisons (Consolidated)

II. Highlights

III. Summary of Consolidated Financial Statements

1. Income Statement Results for 2016/3-1Q and 2015/3-1Q

3

2. Income Statement Estimates for 2016/3 and Results for 2015/3

4

3. Balance Sheet Results at June 30, 2015 and March 31, 20155

1. Major Performance Items (Consolidated)

6

2. Segment Information (Consolidated)

7,8

3. Building Business Revenue from Operations Breakdown (Consolidated)

9

4. Building Business Data (Consolidated)

9

5. Building Business Data (Unconsolidated)

9

6. Marunouchi Area Building Data (Unconsolidated)

9

7. Lifestyle Property Business Data (Consolidated)

10

8. Condominium Business Data

10

9. Special Purpose Vehicle Data11

1. Consolidated Balance Sheets

12, 13

2. Consolidated Income Statements

14

3. Consolidated Cash Flow Statements

15

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

16

5. Interest-Bearing Debt (Consolidated)

16

6. Major Consolidated Subsidiaries

17

Disclaimer
This FACT BOOK contains predictions and aims which relate to, without limitation, our future economic performance, our plans andobjectives 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 2016/3-1Q and 2015/3-1Q
Millions of yen (rounded down)

2016/3-1Q
Results

2015/3-1Q
Results

105,776

99,382

6,393

Millions of yen (rounded down)

Change■Breakdown of Extraordinary income(New Segment*1)
Building Business

Gain on sales of investment securities

Lifestyle Property Business

20,20741,808(21,600)

Residential Business

69,26939,861

29,408International Business

13,594

11,3082,286

Investment Management

5,581

2,874

2,706

Architectural Design & Engineering

2,754

3,049

(295)

Hotel Business

8,036

7,436

599

Real Estate Services

2,928

2,594

334
(229)

Other

881

1,110

(5,183)(5,279)96

223,847

204,147

19,700

Building Business

30,166

24,538

5,627

Lifestyle Property Business

4,882

8,924

(4,042)

Residential Business

1,024(4,512)5,536International Business

3,788

2,504

1,284

Investment Management

995

1,068

(72)

Architectural Design & Engineering

(505)

(280)

(225)
256

Eliminations
Revenue from Operations

Gain on negative goodwill
Total

2016/3-1Q
Results

2015/3-1Q
Results

6,474

-

6,474

-

12,256(12,256)

6,474

12,256(5,782)(New Segment *1)

Hotel Business

452

196

Real Estate Services

(607)

(567)

(40)

4

98

(94)

Other

(2,936)(4,211)

1,275

Operating Income

Eliminations or Corporate

37,26427,7589,506

Non-operating revenue

3,487

3,747

(259)

Non-operating expense

6,875

7,010

(134)

33,877

24,495

9,381

6,474

12,256(5,782)

Income Before Taxes and Special Items

Extraordinary income-*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 theInvestment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the
Residential Business.

40,35136,752

3,599

13,501

8,226

5,275

*2 In accordance with amendments to the Accounting Standard for Business Combinations etc.,
changes in titles appearing in the consolidated financial statement have been applied as of FY2016.

26,84928,525(1,675)

3,553

3,012

540

23,29625,512(2,216)Extraordinary loss
Income Before Income Taxes and Minority Interests
Corporate tax, etc.

Profit *2
Profit attributable to non-controlling interests *2
Profit Attributable to Owners of Parent *2

-

-

3

Change2. Income Statement Estimates for 2016/3 and Results for 2015/3
Millions of yen (rounded down)
Millions of yen (rounded down)

2016/3
Estimates

2015/3Results■Breakdown of Extraordinary income

ChangeGain on sales of fixed assets(New Segment*1)
Building Business

Gain on sales of investment securities
415,000

484,816(69,816)

Gain on negative goodwill
Total

Lifestyle Property Business

81,000105,706(24,706)

Residential Business

356,000

390,491(34,491)

International Business

69,00071,176(2,176)

Investment Management

22,00014,885

7,115

Architectural Design & Engineering

20,00019,467533

Hotel Business

32,00030,827

1,173

Real Estate Services

15,00013,939

1,061

Other

4,000

3,747

253

(19,000)(24,799)5,799

995,000

1,110,259(115,259)

100,000

102,820(2,820)Eliminations
Revenue from Operations

Loss related to retirement of fixed assets

Lifestyle Property Business

18,00026,162(8,162)

Provision for loss on obligations of additional investments

14,00012,114

1,886

Total

International Business

13,00025,901(12,901)

2,000

4,282

(2,282)

Architectural Design & Engineering

500

663

(163)

Hotel Business

1,000

754

246

Real Estate Services

1,000

524

476

Other
Eliminations or Corporate
Operating Income

0

16

(16)

(14,500)(16,906)

2,406

135,000

156,332(21,332)

Non-operating revenue

7,000

9,087

(2,087)

Non-operating expense

29,00032,306(3,306)

113,000

133,113(20,113)Extraordinary income

15,00048,807(33,807)

Extraordinary loss

10,00081,719(71,719)

118,000

100,201

17,79936,00013,37522,62582,00086,825(4,825)

Income Before Taxes and Special Items

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

Profit *2
Profit attributable to non-controlling interests *2
Profit Attributable to Owners of Parent *2

12,00013,487(1,487)70,00073,338(3,338)Change-36,551

15,000-15,000-12,256(12,256)

15,00048,807(33,807)

2016/3
Estimates(36,551)

2015/3Results
6,190

3,810

-

73,725(73,725)-1,804(1,804)10,00081,719(71,719)*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 theInvestment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the
Residential Business.
*2 In accordance with amendments to the Accounting Standard for Business Combinations etc.,
changes in titles appearing in the consolidated financial statement have been applied as of FY2016.
*3 There is no change in the FY2016 earnings estimates announced May 12 2015.

4

Change10,000

Impairment loss

Residential Business
Investment Management

2015/3Results

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

(New Segment *1)
Building Business2016/3
Estimates3. Balance Sheet Results at June 30, 2015 and March 31, 2015
Millions of yen (rounded down)

At June 30, 2015 At Mar 31, 2015
AssetsI. Current assets
1. Cash2. Notes and accounts receivable-trade
3. Marketable securities
4. Property for sale
5. Property for sale in progress
6. Property for development
7. Appropriated construction in progress
8. Other inventories
9. Equity investments
10. Deferred income taxes
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 income taxes(6) Other investments(7) Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets

Millions of yen (rounded down)

At June 30, 2015 At Mar 31, 2015

Change164,901
26,682
14,03557,689323,816
8,804
9,198
1,018
240,699
14,26967,469(563)
928,021

197,169
35,873
2,179
52,102
314,305
8,646
6,594
1,002
251,249
17,01065,244(571)
950,806(32,268)(9,190)11,856
5,586
9,511
157
2,604
16
(10,549)(2,741)
2,224
7(22,785)

834,248
20,498
1,849,109
546,632
102,151
15,404
3,368,044

846,652
21,161
1,839,707
532,774
90,69415,022
3,346,013(12,404)
(662)
9,401
13,857
11,456382
22,03081,75335,531
117,285

87,021
33,210120,232(5,268)2,321(2,947)284,148
1,432
112,984
23,817
10,42553,066(1,740)484,134
3,969,464
4,897,486

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

3,338
(16)
587
623
(78)
(4,774)(18)(338)
18,744(4,040)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
Total current liabilities
II. Long-term liabilities
1. Bonds
2. Long-term borrowings
3. Lease deposits received
4. Deferred tax liability
5. Deferred tax liabilities on land revaluation
6. Net defined benefit liability
7. Accrued directors' retirement benefits
8. Negative goodwill
9. 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

Change51,841
81,053103,020
21,00063,181
9,256
213
159,715
489,282

95,632
77,881
86,61728,00040,2259,934
205
181,210
519,707(43,791)
3,172
16,402(7,000)22,955(678)
7(21,494)(30,424)

615,000
1,092,178
380,489
208,656
280,656
23,404673
78,97781,4572,761,493
3,250,776

645,000
1,044,387
381,605
206,079
280,672
23,068656
77,172
83,012
2,741,655
3,261,362(30,000)
47,791(1,116)
2,576
(15)
336
16
1,805
(1,555)
19,838(10,586)

141,373
162,542
550,896(5,249)849,563

141,373
162,638
538,687(5,259)837,440(95)
12,20810
12,122132,252(60)
504,725
14,3605,074
656,351456
140,338
1,646,709
4,897,486

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

4,643
(55)
(31)
(6,438)(163)(2,046)(43)(3,486)
6,546(4,040)* In accordance with amendments to the Accounting Standard for Business Combinations etc.,
changes in titles appearing in the consolidated financial statement have been applied as of FY2016.

5

II. Highlights
1. Major Performance Items (Consolidated)(Millions of yen)

2013/3

2014/3

2015/3-1Q

2015/3

2016/3-1Q

2016/3 (Estimates)

Revenue from operations

927,157

1,075,285

204,147

1,110,259

223,847

995,000

Operating income

118,349

161,271

27,758156,332

37,264135,000

Income before taxes and special items

92,381

139,638

24,495133,11333,877113,000

Profit attributable to owners of parent *6

45,50764,29725,51273,33823,29670,000Total assets

4,711,521

4,765,368

4,861,625

4,901,526

4,897,486

5,190,000

Shareholders' equity *1

1,239,547

1,329,057

1,352,476

1,495,838

1,505,914

1,530,000

Interest-bearing debt

2,085,417

1,973,042

2,079,733

1,929,355

1,983,226

2,190,000

Cash flow from operating activities

122,286

336,489(71,298)

200,078(12,818)

35,000Cash flow from investing activities(217,992)(133,537)(47,710)(46,568)(44,869)(298,000)

Cash flow from financing activities

27,150(177,514)

15,682(189,109)

39,251230,000

EBITDA *2

200,587

246,332

49,754

239,934

58,825220,500

Return on assets (ROA) *3

2.7 %

3.5 %

-%

3.4 %

-%

2.8 %

Interest coverage ratio (ICR) *4

5.0 times

7.5 times- times

7.7 times- times

6.4 times

Return on equity (ROE) *5

3.6 %

5.0 %

-%

5.2 %

-%

4.6 %

Earnings per share (EPS) (Yen)

32.79

46.34

18.39

52.85

16.79

*1 Shareholders' equity = Net assets - Stock acquisition rights - Non-controlling interests *6*2 EBITDA = Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates + Depreciation + Amortization of goodwill*3 ROA = (Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates) / Total assets (average）*4 ICR = (Operating income + Interest income + Dividend income + Equity in earnings of unconsolidated subsidiaries and affiliates) / Interest expense*5 ROE = Profit attributable to owners of parent *6 / Shareholders' equity (average)*6 In accordance with amendments to the Accounting Standard for Business Combinations etc., changes in titles appearing in the consolidated financial statement have been applied as of FY2016.

6

50.45

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

2013/3

2014/3

Building Business

442,74846.3%

484,229

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

315,351
50,27860,892
7,108
19,56828,29927,2094,408(28,707)927,157

33.0%
5.3%
6.4%
0.7%
2.0%
3.0%
2.8%
0.5%

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

2015/3-1Q

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

2015/3

2015/3525,82948.0%

140,518

67.3%

587,660

403,259

36.8%

36,80917.6%

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

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

13,063
1,050
3,049
7,436
5,808
1,110
(4,701)
204,147

6.3%
0.5%
1.5%
3.6%
2.8%
0.4%

77,7948,050
19,46730,827
27,295
3,747(22,321)
1,110,259*2
51.9% Building Business
Lifestyle Property Business
33.4% Residential Business
6.9% International Business
0.7% Investment Management
1.7% Architectural Design & Engineering
2.7% Hotel Business
2.4% Real Estate Services
0.3% Other
Eliminations or corporate

2016/3-1Q

2016/3 (Estimates)

484,816
105,706
390,491

42.7%
9.3%
34.4%

105,776
20,207
69,269

46.2%
8.8%
30.2%

415,000
81,000356,000

40.9%
8.0%
35.1%

71,176
14,885
19,46730,827
13,9393,747(24,799)
1,110,259

6.3%
1.3%
1.7%
2.7%
1.2%
0.4%

13,594
5,581
2,754
8,036
2,928
881
(5,183)
223,847

5.9%
2.4%
1.2%
3.5%
1.3%
0.5%

69,00022,00020,00032,00015,0004,000(19,000)
995,000

6.8%
2.2%
2.0%
3.2%
1.5%
0.3%

(Millions of yen)

(2) Operating income

2013/3

2014/3

Building Business

107,667

108,172

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

2,317
11,180
8,371
2,129
1,234
474
1,058
(10)
(16,074)
118,349

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

2013/3

2015/3-1Q

2014/3*1
Building Business

116,277

33,463

128,982

Residential Business

27,778(4,575)

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

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

3,113
458
(280)
196
(537)
98
(4,179)27,75826,068
4,064
663
754
1,111
16
(16,934)
156,332

2014/3

2015/3-1Q

2014/3

2015/3

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

2015/3*1
Building Business22.1 %

23.8 %

21.9 %

Residential Business

6.9 %-12.4 %

3.1 %International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

31.8 %
48.4 %
6.3 %
2.5 %
5.7 %
-6.7 %

23.8 %
43.6 %-9.2 %
2.6 %-9.2 %
8.8 %

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

*2
Building Business
Lifestyle Property BusinessResidential Business2016/3-1Q

2016/3 (Estimates)

102,820
26,162
12,11430,166
4,882
1,024

100,000
18,00014,00025,901
4,282
663
754
524
16
(16,906)
156,332

3,788
995
(505)
452
(607)
4
(2,936)37,26413,000
2,000
500
1,000
1,000
0
(14,500)
135,000

2015/3

2016/3-1Q

2016/3 (Estimates)

21.2 %
24.7 %
3.1 %

28.5 %
24.2 %
1.5 %

24.1 %
22.2 %
3.9 %

36.4 %
28.8 %
3.4 %
2.4 %
3.8 %
0.4 %

27.9 %
17.8 %-18.3 %
5.6 %
-20.7 %
0.5 %

18.8 %
9.1 %
2.5 %
3.1 %
6.7 %
0.0 %

Building Business24.3 %

22.3 %

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

0.7 %22.2 %
13.7 %
30.0 %
6.3 %
1.7 %
3.9 %
-0.2 %

6.9 %
16.9 %
31.8 %
48.4 %
6.3 %
2.5 %
5.7 %
-6.7 %

12.8 %

15.0 %

15.0 %

13.6 %

14.1 %

14.1 %

16.6 %

13.6 %

2013/3

2014/3

2014/3

2015/3-1Q

2015/3

2015/3

2016/3-1Q

2016/3 (Estimates)

International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate(Millions of yen)

(4) Depreciation
Building Business

56,47957,500Residential Business
Commercial Property Development & Investment
International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

2,664
6,248
5,987
38
72
1,088
457
84
242
73,364

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

62,485

14,89059,960Residential Business

3,032

606

2,728

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

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

1,705
7
13
283
78
33
193
17,811

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

48,665
11,294
2,762

10,344
2,999
723

-

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

1,710
1,340
31
354
64
25
(19)
17,57475,000*1 As of April 2014, the Commercial Property Development & Investment Business has been integrated into the Building Business.
*2 As of April 2015, the following segment changes have occurred.
・Domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.
・Overseas investment management business has been moved from the International Business to the Investment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the Residential Business.

7

(Millions of yen)(5) Operating income before depreciation

2013/3

2014/3

Building Business

164,146

165,672

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

4,981
17,42814,358
2,167
1,306
1,562
1,515
74
(15,832)
191,71330,81013,11532,327
3,089
1,324
1,899
1,951
(23)
(14,095)
236,076

2015/3-1Q

2014/3

2015/3*1
Building Business

178,762

48,353

188,942

Residential Business

30,810(3,969)14,333

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

32,327
3,089
1,324
1,899
1,951
(23)
(14,069)
236,076

4,818
465
(267)
479
(459)
131
(3,986)45,56933,446
4,119
766
2,076
1,444
175
(16,280)
229,028

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

2016/3-1Q

2016/3 (Estimates)

151,485
37,456
14,876

40,510
7,881
1,747

-

32,305
5,311
766
2,076
824
175
(16,252)
229,028

5,498
2,335
(474)
806
(543)
29
(2,955)54,838210,000(Millions of yen)

(6) Capital expenditure

2013/3

2014/3

Building Business

128,016

91,242

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

32,25445,910
5,196
16
39
793
469
25
1,759
214,481

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

2015/3-1Q

2014/3

2015/3*1
Building Business

96,14945,115

120,704

Residential Business

18,3803,231

22,108International Business
Investment Management
Architectural Design & Engineering
Hotel Business
Real Estate Services
Other
Eliminations or corporate

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

3,270
0
13
116
102
322
(1,070)51,10245,947
242
677
3,290
408
382
(2,304)
191,457

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

2016/3-1Q

2016/3 (Estimates)

87,53633,16822,167

46,463
4,929
2,099

-

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

5,070
69
51
38
83
16
(290)
58,531(Millions of yen)

(7) Total assets

2013/3

2014/3

Building Business

3,030,858

3,040,634

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

602,166
432,556
383,824
31,24023,10824,152
25,10327,261
131,248
4,711,521

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

2015/3-1Q

2014/3

2015/3*1
Building Business

3,433,585

3,572,445

3,416,285

Residential Business

662,350

581,542

597,587

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

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

451,887
29,597
23,27923,92524,46529,332
125,149
4,861,625

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

¥/$
¥ /￡

<2015/3-1Q>
PL 102.77
BS 102.92
PL 170.11
BS 171.31<2016/3-1Q>
PL 119.16
BS
PL 180.47
BS

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

2016/3 (Estimates)

3,094,967
321,405
605,504

3,107,848
319,336
595,431-479,785
146,538
24,98528,034
20,731
27,696
151,876
4,901,526

462,532
144,976
23,03827,201
20,17026,226
170,723
4,897,486

5,190,000

120.17178.07*1 As of April 2014, the Commercial Property Development & Investment Business has been integrated into the Building Business.
*2 As of April 2015, the following segment changes have occurred.
・Domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.
・Overseas investment management business has been moved from the International Business to the Investment Management Business.
・Mitsubishi Jisho House Net Co., Ltd has been moved from the Real Estate Services Business to the Residential Business.

8

2016/3-1Q

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

2013/3

2014/3

2014/3 *2

2015/3-1Q *2

2015/3 *2

2015/3 *3

2016/3-1Q *3

2016/3(Estimates) *3

Leasing379,525

403,319

409,175

101,734

416,631

347,757

88,512351,000

Property Management

18,184

17,866

17,696

4,863

19,721

19,3895,204

23,000Contracted Work

11,035

11,56011,463

1,718

14,50014,500

3,505

13,000District Heating and Cooling Services

8,326

8,991

8,991

2,012

8,724

8,724

1,923

8,000

Other (Sales of assets etc.)

25,67542,49178,50330,188128,083

94,443

6,630

20,000

Total

442,748484,229525,829

140,518

587,660

484,816

105,776

415,000*1 Including revenue from other segments.
*2 As of April 2014, revenue from operations from the former Commercial Property Development & Investment Business is included in calculations.
*3 As of April 2015, revenue from operations from the Lifestyle Property Business is not included in calculations.

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

2013/3

2014/3

2014/6

2015/3

2015/6

3,907

4,053

4,137

4,184

3,510

Owned by MEC

2,446

2,514

2,724

2,629

2,165

Subleases

1,460

1,539

1,413

1,555

1,345

Contracted area

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

5. Building Business Data (Unconsolidated)(Thousands of square meters)

2013/3

2014/3

2014/6

2015/3

2015/6

2016/3(Estimates)

Owned by MEC

3,293

3,288

3,446

3,326

3,243

3,369

Subleases

2,152

2,292

2,358

2,345

1,862

1,895

Total

5,444

5,580

5,804

5,670

5,104

5,263

3,218

3,475

3,600

3,504

3,257

3,228

5.29 %

5.70 %

2.80 %

3.53 %(1) Total operating floor space(2) Leasable area
(3) Vacancy rate (All uses in Japan)

3.98 %(4) Average rent (All uses in Japan)¥23,850¥23,861¥23,129¥23,587¥24,460* The average rent is per 3.3 square meters per month.
* As of April 2014, the floor space and rent from the former Commercial Property Development & Investment Business (not including logistics) are included in calculations.
* As of April 2015, the floor space and rent from the Lifestyle Property Business are not included in calculations.

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

2013/3

2014/3

2015/3-1Q

2015/3

2016/3-1Q

Operating floor space

2,758

2,755

2,752

2,583

2,583

Leasable area

1,626

1,714

1,687

1,571

1,572

Office vacancy rate

3.66 %

4.32 %

6.43 %

1.82 %

Building lease revenue¥194,203¥204,621¥50,829¥202,784

92.35 %¥51,207

2.5 %¥24,500

7. Lifestyle Property Business Data (Consolidated)(Thousands of square meters)

2015/6
Contracted area
691
* These figures are for the contracted area of retail properties of the Lifestyle Property Business.

8. Condominium Business Data
2013/3
2014/3
Condominiums sold (Millions of yen)
196,404
288,938
Condominiums sold (units)
4,552
6,259
Gross margin18.8 %
19.1 %
Inventory (units)
127
107
New Supply of condominiums (units)
5,334
5,920
* Gross Margin: Subtract Land Acquisition Cost and Construction Cost from Sales

2015/3-1Q
19,027287
15.5 %
48
1,531

2015/3
239,4224,603
17.3 %
141
5,119

10

2016/3-1Q
39,214522
17.5 %
108935

2016/3(Estimates)
223,000
4,100
17.0 %
4,000

9. Special Purpose Vehicle Data

(Billions of yen)

2013/3

2014/3

2014/6

2015/3

2015/6

Building Business
Equity investment by Mitsubishi Estate
31.5
64.4
161.9
206.8
183.2
(Unconsolidated)
31.5
32.2
95.5
102.3
78.7
Equity investment by other companies
58.6
48.5
69.3
102.5
76.2
(Unconsolidated)
58.6
48.5
68.0
102.5
76.2
Interest bearing debt borrowed by SPV
314.8
255.9
566.9
157.9
126.8
(Unconsolidated)
296.8
237.8
304.2
157.8
126.7
Lifestyle Property Business
Equity investment by Mitsubishi Estate
10.5(Unconsolidated)
10.5
Equity investment by other companies
16.7(Unconsolidated)
16.7
41.6
Interest bearing debt borrowed by SPV
41.6(Unconsolidated)
Residential Business
Equity investment by Mitsubishi Estate
15.4
15.4
15.4
0
0
(Unconsolidated)
Equity investment by other companies(Unconsolidated)
Interest bearing debt borrowed by SPV(Unconsolidated)
Commercial Property Development & Investment Business
Equity investment by Mitsubishi Estate
153.0
136.8
(Unconsolidated)
72.9
72.9
Equity investment by other companies
27.3
22.6
(Unconsolidated)
15.8
17.9
Interest bearing debt borrowed by SPV
301.2
314.0
(Unconsolidated)
139.9
153.3
Total
Equity investment by Mitsubishi Estate
200.0
216.7
177.4
206.9
193.8
(Unconsolidated)
104.4
105.2
95.5
102.3
89.3
Equity investment by other companies
85.9
71.1
69.3
102.5
92.9
(Unconsolidated)
74.4
66.5
68.0
102.5
92.9
Interest bearing debt borrowed by SPV
616.0
570.0
566.9
157.9
168.4
(Unconsolidated)
436.7
391.2
304.2
157.8
168.3
* The numbers include the following S.P.V
1. TMK vehicles under the real estate securitization law - Mitsubishi Estate's share : over 20%
2. YK-TK or GK-TK vehicles under the commercial law - Mitsubishi Estate's share : over 20%* As of April 2014, the TMK・TK vehicles of the former Commercial Property Development & Investment Business are included in the Building Business.
* As of April 2015, domestic retail & logistics property businesses (not including some multi-use facilities）no longer feature in the Building Business, now featuring in the newly created Lifestyle Property Business.

11III. Summary of Consolidated Financial Statements
1. Consolidated Balance Sheets(Millions of yen)

At March 31, 2013
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

At March 31, 2014

At June 30, 2014

At March 31, 2015

At June 30, 2015

192,076
29,925
612
152,354343,621
8,615
5,509
935
208,523
21,06463,736(201)
1,026,773

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

126,584
23,972
1,548
47,302
347,613
8,621
8,785
1,052
222,766
21,39847,273(191)
856,727

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

164,901
26,682
14,03557,689323,816
8,804
9,198
1,018
240,699
14,26967,469(563)
928,021885,994
24,733
1,883,246
377,854
33,90918,0983,223,836

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

887,519
22,744
1,928,999
562,864
79,186
14,7833,496,099

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

834,248
20,498
1,849,109
546,632
102,151
15,404
3,368,044

86,947
7,485
94,432

87,913
8,139
96,05287,544
8,167
95,71187,021
33,210120,232

81,75335,531
117,285

201,005
1,601
110,689
16,79838,309(1,924)366,479
3,684,748
4,711,521

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

230,779
1,510
114,100
5,463
10,201
52,868(1,837)413,086
4,004,897
4,861,625

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

284,148
1,432
112,984
23,817
10,42553,066(1,740)484,134
3,969,464
4,897,486

12

At March 31, 2013

At March 31, 2014

At June 30, 2014

At March 31, 2015

(Millions of yen)
At June 30, 2015

Liabilities
Current liabilities
53,04449,372
95,632
51,841
Notes and accounts payable-trade105,271
68,291
66,87377,881
81,053
Short-term borrowings
63,762
166,445
327,91386,617103,020
Current portion of long-term debt
343,127
35,00028,00021,000Commercial paper
57,567
47,83640,22563,181
Bonds due within one year
56,595
8,935
5,401
9,934
9,256
Accrued income taxes
14,423
7,030
Provision for loss on guarantees
879
1,944
205
213
Deferred tax liability
947
142,249
146,003
181,210
159,715
Other current liabilities
183,619539,444645,345
519,707489,282
Total current liabilities
767,747
Long-term liabilities
689,664
645,000
645,000
615,000
Bonds
645,000
1,058,240
984,469
1,044,387
1,092,178
Long-term borrowings
855,052
378,876
380,753
381,605
380,489
Lease deposits received
383,083
194,827
213,736
206,079
208,656
Deferred tax liability
192,938
321,972309,525
280,672
280,656
Deferred tax liabilities on land revaluation
319,090
16,671
Accrued employees' retirement benefits
20,51623,06823,404
Net defined benefit liability
20,380
743
543
656
673
Accrued directors' retirement benefits593
88,14393,574
77,172
78,977
Negative goodwill
92,35656,92576,083
83,01281,457
Other long-term liabilities
42,0322,806,065
2,724,203
2,741,655
2,761,493
Total long-term liabilities
2,550,527
3,345,509
3,369,549
3,261,362
3,250,776
Total liabilities
3,318,275
Net assets
Shareholders' equity
Capital141,373
141,373
141,373
141,373
141,373
Capital surplus
170,485
170,485
162,638
162,542
170,485
Retained earnings
413,392
499,326
538,687
550,896465,757
Less treasury stock, at cost
(4,585)(4,820)(5,259)(5,249)(4,811)
Total shareholders' equity
720,666
806,364
837,440
849,563
772,805
Other accumulated comprehensive income
Unrealized holding gain on securities
70,60887,675
127,609132,252
75,971
Deferred gains or losses on hedging instruments
(221)
85
(5)
(60)
125
Land revaluation reserve498,103475,881504,756
504,725
493,153
Foreign currency translation adjustments(49,608)(13,040)
20,79814,360(8,249)Remeasurements of defined benefit plans(4,748)(4,489)5,238
5,074
Total other accumulated comprehensive income
518,881546,111
658,398
656,351556,252
500
494
500
456
Stock acquisition rights
494
125,963
139,103
143,825
140,338
Non-controlling interests *117,540
1,366,011
1,492,075
1,640,163
1,646,709
Total net assets
1,447,093
Total liabilities and net assets
4,711,521
4,861,625
4,901,526
4,897,486
4,765,368* In accordance with amendments to the Accounting Standard for Business Combinations etc., changes in titles appearing in the consolidated financial statement have been applied as of FY2016.

13

2. Consolidated Income Statements(Millions of yen)
2013/3927,157
118,349

2014/3
1,075,285
161,271

2015/3-1Q
204,147
27,758

2015/3
1,110,259
156,332

2016/3-1Q
223,847
37,264

Revenue from operations
Operating income
Non-operating income
Interest income
420
232
171
287
82
Dividend income
3,603
3,876
2,043
4,577
2,129
Amortization of consolidation goodwill
835
Equity in earnings of unconsolidated subsidiaries and affiliates
517
1,547
850
1,372
310
Other non-operating income
4,759
3,666
681
2,850
964
Total non-operating income
10,136
9,323
3,747
9,087
3,487
Non-operating expenses
Interest expense
24,54022,1295,451
21,072
4,822
Loss on disposal of fixed assets
5,744
4,029
550
4,780
710
Other non-operating expenses
5,819
4,796
1,007
6,454
1,341
Total non-operating expenses
36,10430,956
7,010
32,306
6,875
Income before taxes and special items
92,381
139,638
24,495133,11333,877Extraordinary income
Gain on sales of fixed assets
6,165
6,702
36,551Gain on sales of investment securities
6,474
Gain on negative goodwill
1,374
4,942
12,256
12,256
Total extraordinary income
7,540
11,644
12,25648,807
6,474
Extraordinary loss
Loss related to retirement of fixed assets
24,3382,303
6,190
Impairment loss
2,826
32,64473,725
Impairment loss on equity investments
8,985
7,648
Provision for loss on guarantees
7,030
Provision for loss on obligations of additional investments
1,804
Total extraordinary loss
43,181
42,596
81,719
Income before income taxes and minority interests
56,741
108,685
36,752100,201
40,351
Corporation tax, inhabitants' tax and enterprise tax
16,52822,403
8,322
23,19010,196
Income taxes for prior periods
20,684
Income taxes-deferred(14,620)(2,359)(95)(9,814)
3,305
Profit *54,833
67,95728,52586,825
26,849Profit attributable to non-controlling interests *
9,325
3,660
3,012
13,487
3,553
Profit attributable to owners of parent *45,50764,29725,51273,33823,296* In accordance with amendments to the Accounting Standard for Business Combinations etc., changes in titles appearing in the consolidated financial statement have been applied as of FY2016.

14

2016/3 (Estimates)
995,000
135,000
500
4,000
2,500
7,000
21,0005,000
3,000
29,000113,000
15,00015,00010,00010,000118,000
36,00082,00012,00070,0003. Consolidated Cash Flow Statements(Millions of yen)
2013/3

Income before income taxes and minority interests

56,741

Adjustment for extraordinary income or loss
Depreciation and amortization

2014/3

2015/3-1Q

2015/3

2016/3 (Estimates)

40,351

118,000

108,685

36,752

24,71534,955(11,723)

32,954(4,957)5,000

73,36474,805

17,811

72,696

17,57475,000Decrease (increase) in inventories

43,17393,854(7,341)

110,219(4,598)(40,500)

Decrease (increase) in equity investments(24,319)(18,180)(1,054)(35,973)

9,241(73,000)

Other(17,975)

71,470(88,243)(45,659)(59,430)(33,500)

Income taxes, etc.

(33,413)(29,102)(17,498)(34,360)(10,998)(16,000)

122,286

336,489(71,298)

200,078(12,818)

35,000

2,429

1,034

20

624

10,49435,00010,00033,854

1,013

167,645

1,024

4,000

(208,135)(159,677)(47,426)(177,331)(56,377)(320,000)

Net cash provided by (used in) operating activities
Proceeds from sales of marketable securities andinvestment securities
Proceeds from sales of property and equipment andbeneficial interests in trust of property and equipment
Purchases of property and equipment
Other
Net cash provided by (used in) investing activities

100,201

2016/3-1Q(22,287)(8,748)(1,317)(37,506)(11)(17,000)(217,992)(133,537)(47,710)(46,568)(44,869)(298,000)

Newly acquired funds

587,403

181,349

51,405

328,053

71,358375,500

Repayment(569,256)(275,254)(28,380)(505,027)(10,657)(115,500)

Cash dividends paid

(25,747)(25,448)(9,853)(21,684)(12,402)(24,000)

Other

34,751(58,161)

2,510

9,549

(9,046)(6,000)Net cash provided by (used in) financing activities

27,150(177,514)

15,682(189,109)

39,251230,000

Effect of exchange rate on cash and cash equivalents

3,838

8,321

(673)

1,235

(1,716)-(64,716)

33,758(103,999)(34,363)(20,154)(33,000)

42,724

-

6,477

6,658

-

-

(1,942)

(856)

-

-

-

-

-

-

-

1,455

-

-

215,771
191,837

191,837
224,739

224,739
127,217

224,739
198,489

198,489
178,335

199,000
166,000

Net increase (decrease) in cash and cash equivalents

Increase in cash and cash equivalents from newly
consolidated subsidiary
Decrease in cash and cash equivalents resulting
from exclusion of subsidiaries from consolidation
Increase in cash and cash equivalents resulting
from share transfer
Cash and cash equivalents at the beginning of year
Cash and cash equivalents at the end of year15

4. Total Assets, Capital Investment and Depreciation (Consolidated)
2013/3(Millions of yen)

2014/3

2015/3-1Q

2015/3

2016/3-1Q

2016/3 (Estimates)

Total assets

4,711,521

4,765,368

4,861,625

4,901,526

4,897,486

5,190,000

Capital investment

208,135

159,677

47,426

177,331

56,377320,000

Depreciation

73,36474,805

17,811

72,696

17,57475,000(Millions of yen)

2016/3-1Q Capital investment

Mitsubishi Estate Building Business

56,300 million yen

Marunouchi redevelopment construction cost etc. = 15,900

20,700
Other

Refurbishment cost etc. = 3,500
Rockefeller Group, Inc., Consolidated TMK = 23,800

35,600 etc.

2016/3 Capital investment (Estimates)

Mitsubishi Estate Building Business

320,000 million yen

Sunshine City = 2,100

Marunouchi redevelopment construction cost etc. = 148,000

179,500

Refurbishment cost etc. = 11,000
Other

Other

Mitsubishi Estate・Simon = 4,500

Rockefeller Group, Inc. = 1,900

Lifestyle Property Business = 18,000

Rockefeller Group, Inc., Consolidated TMK = 39,000

Rockefeller Group, Inc. = 33,000

Mitsubishi Estate Europe = 24,000

Mitsubishi Jisho Residence = 20,000 Mitsubishi Estate・Simon = 6,000

140,500 etc.

Sunshine City = 5,000

Mitsubishi Estate Asia = 6,000

Marunouchi Heat Supply = 3,000* Major inter-group transactions are eliminated.
* Mitsubishi Estate Europe Limited is a holding company covering European companies, including Mitsubishi Estate London Ltd.
* As of April 2015, domestic retail & logistics property businesses (not including some multi-use facilities ）no longer feature in the Building Business, now featuringin the newly created Lifestyle Property Business.
* As of April 2015, the residential leasing business has been moved from Mitsubishi Estate’s Residential Business to Mitsubishi Jisho Residence Co., Ltd.

5. Interest-Bearing Debt (Consolidated)(Millions of yen)

2013/3

2014/3

2015/3-1Q

2015/3

2016/3-1Q

2016/3 (Estimates)

Interest-bearing debt

2,085,417

1,973,042

2,079,733

1,929,355

1,983,226

2,190,000

Net interest-bearing debt *1
Interest expense

1,893,580
24,594

1,748,303
22,176

1,952,516
5,451

1,730,866
21,0991,804,891
4,827

2,020,000
21,000Financial income and expense (net) *2(20,571)(18,067)(3,236)(16,234)(2,615)(16,500)

Average interest rate *3

1.29 %

1.09 %

1.08 %

1.08 %

0.99 %

1.05 %

Debt equity ratio *4

1.68

1.48

1.54

1.29

1.32

1.43

*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

16

6. Major Consolidated Subsidiaries
2016/3-1Q Results(Millions of yen)
Revenue fromoperations

Share of MEC

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

Net income

Total assets

Shareholders' equity

Interest-bearing
debt

96,421

23,42925,54722,751

4,124,177

1,305,702

1,773,360

9,276

100.00%64.16%
63.20%
60.00%
100.00%100.00%71.47%
100.00%100.00%100.00%100.00%55.71%
100.00%-16,5083,043
6,734
10,74647,0352,470
8,043
15,242
1,911
2,130
5,650
2,617
2,928
223,847

1,117
165
1,959
3,689
1,695
(775)
512
3,449
1,064
(219)
230
218
(594)
37,264

1,119
195
1,925
3,738
1,602
(774)
528
3,248
846
(168)
225
202
(434)
33,877

741
128
1,300
2,296
771
(777)
339
962
656
(121)
207
133
(251)
23,296

65,97222,501
94,347
90,076490,027
10,152
7,496
325,799
151,987
21,257
10,985
15,49820,211
4,897,486

22,741
19,01951,95832,660318,460
1,772
3,296
187,993
78,771
16,751
1,117
7,481
14,456
1,505,914

43887
19,851
33,848101,346
090,81969,522
5,037
4,610
41
1,983,226

32
530
1,286
1,499
402
49
40
2,345
550
29
184
172
64
17,574

Operating income

Income before taxes
and special items

2015/3-1Q Results(Millions of yen)
Revenue fromoperations

Share of MEC
Mitsubishi Estate Co., Ltd.
Mitsubishi Jisho Property Management Co., Ltd.
Marunouchi Heat Supply Co., Ltd.
Sunshine City Corporation
Mitsubishi Estate・Simon Co., Ltd.
Mitsubishi Jisho Residence Co., Ltd.
Mitsubishi Estate Home Co., Ltd.
Mitsubishi Jisho Community Co., Ltd.
Rockefeller Group, Inc.
Paternoster Associates
Mitsubishi Jisho Sekkei Inc.
Royal Park Hotels & Resorts Co., Ltd.
Royal Park Hotel Co., Ltd.
Mitsubishi Real Estate Services Co., Ltd.

Depreciation-

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

Operating income

Income before taxes
and special items

Net income

Total assets

Shareholders' equity

Interest-bearing
debt

Depreciation-

112,448

18,35330,99925,8293,883,352

1,205,905

1,642,465

10,162100.00%64.16%
63.20%
60.00%
100.00%100.00%100.00%100.00%100.00%100.00%100.00%55.71%
100.00%-14,251
3,156
6,705
9,279
20,753
4,004
7,723
11,287
1,659
2,529
5,104
2,631
2,594
204,147

807
109
1,904
3,289
(3,461)
(676)
569
2,905
866
(62)
26
237
(557)
27,758

819
127
1,800
3,317
(3,709)
(672)
568
2,923
634
(39)
24
219
275
24,495

488
78
1,170
2,138
(2,363)
(680)
359
802
466
(59)
23
141
230
25,51262,39023,752
93,34280,405451,127
10,202
7,823
230,113
134,654
21,520
7,993
15,092
20,123
4,861,625

20,70018,66449,014
26,668
277,704
1,714
2,633
128,51373,69016,225543
7,318
14,2881,352,476

62
2,837
22,07430,355108,090
67,38558,265
3,037
4,483
10
2,079,733

33
615
1,281
1,313
196
48
26
1,066
494
10
118
166
71
17,811* Before consolidation adjustments.
* As of July 1 2014, a new holding company, MITSUBISHI JISHO COMMUNITY HOLDINGS CO., LTD. was established as the sole parent company of Mitsubishi Jisho Community Co., Ltd. andMarubeni Community Co., Ltd., resulting in a decrease in stock holdings.
* Mitsubishi Estate Europe Limited is a holding company covering European companies, including Mitsubishi Estate London Ltd.
* Due to a reorganization and creation of the European Business as of FY2015 2Q, the previous principal business, Paternoster Associates, has been written in the FY2015 1Q results.
* In accordance with amendments to the Accounting Standard for Business Combinations etc., changes in titles appearing in the consolidated financial statement have been applied as of FY2016.
* Net income is as each subsidiary's financial statement. Consolidated financial statement figures come under Profit Attributable to Owners of Parent.

17