■November 9, 2023

MITSUBISHI ESTATE CO., LTD.

Fact Sheet FY2023-2Q(The Fiscal Year Ending on March 31, 2024)
Definition of Term（Changes from previous versions）“FY2023” means the Group’s fiscal year ended March 31, 2024, and other fiscal years mean in a corresponding manner.
Disclaimer
This Fact Sheet contains predictions and aims which relate to, without limitation, our future economic performance, our plans and objectives for future operations andprojections of revenue and other financial items.
These predictions are inherently subject to risks and uncertainties, due to unforeseeable events or external factors.
Future events and actual results, financial and otherwise, may differ materially from the events and results expressed here.

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

Income Statement Results for FY2023-2Q and FY2022-2Q
Millions of yen (rounded down)

FY2023-2Q
Results

FY2022-2Q
Results

Commercial Property Business

372,181333,109

39,072

Residential Business

121,270

120,633636

International Business

58,991

94,033

Investment Management Business

13,951

Architectural Design & Engineering Business and Real Estate Services BusinessChangeMillions of yen (rounded down)■ Commercial Property Business
Operating Revenue Breakdown (Consolidated)*1

FY2023-2Q
Results

FY2022-2Q
Results

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

ChangeLeasing

FY2023-2Q
Results

Gain on sale of non-current assets

FY2022-2Q
Results-

Change6,269(6,269)Marunouchi Area Office Building

129,536

125,848

3,688

Gain on sale of investment securities

7,345(35,042)

Tokyo Area Office Building (Outside of Marunouchi)

72,35473,823(1,468)

Total

7,345

6,269

29,480(15,528)

Office Building (Outside of Tokyo)

32,47730,965

1,511

31,164

26,1994,965

Outlet Mall

26,85822,704

4,153

4,899

4,686

213

Other*2

18,64818,166481(14,525)(13,578)(947)

279,874

271,508

8,366

FY2023-2Q
Results

FY2022-2Q
Results

587,933

594,565(6,631)

Sales of assets

20,325

8,386

11,938Loss related to retirement of non-current assets-

10,79687,985

77,91910,065

Other*3

71,98253,214

18,767

Loss on valuation of investment securities

-

2,821

(2,821)

Residential Business

(985)

3,339

(4,325)

Royal Park Hotels and Resorts

19,918

11,721

8,196

Total

-

13,617(13,617)

International Business

18,01960,786(42,766)

Total

372,181333,109

39,072

Investment Management Business(2,386)

14,608(16,995)*1 Including revenue from other segments

Other
Eliminations
Operating Revenue
Commercial Property BusinessTotal leasing

Architectural Design & Engineering Business and Real Estate Services Business

2,553

(382)

2,936

*2 Including independent shopping center, logistics facility, etc.

Other

(1,172)(1,048)(123)

Eliminations or Corporate(13,699)(13,143)(556)*3 Including property management, hotel, dividend from unconsolidated SPC (including capital gain through SPC),
revenue from flexible workspace business(Japan Regus), etc

90,314142,078(51,764)

8,631

7,762

868

320

289

30

23,721

19,307

4,413

75,224

130,534(55,309)

Operating Profit
Non-operating income(Share of profit of entities accounted for using equity method)

Non-operating expenses
Ordinary Profit
Extraordinary income

7,345

6,269

1,076

13,617(13,617)

82,570123,186(40,615)

35,952

31,5284,423

46,61791,657

5,071
41,546Extraordinary loss
Profit before Income Taxes
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit Attributable to Owners of Parent-

FY2022-2Q
Results

Commercial Property Business

6,000

6,000

0

Residential Business

6,000

5,000

1,000

International Business

8,000

Change47,000Business profit-(45,039)

Other

-

-

-

15,314(10,243)

Eliminations or Corporate

-

-

-

76,342(34,796)

58,000(10,796)

FY2023-2Q
Results

FY2022-2Q
Results

90,635

142,368

Change(51,733)(39,000)-

20,000Change*Business profit: Operating profit + Share of profit of entities accounted for using equity method

Investment Management Business

Total

1,076

Millions of yen (rounded down)■ Business profit

FY2023-2Q
Results

7,345

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

Millions of yen (rounded off to the nearest billion)■ Capital Gains included in Operating profit--(38,000)*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

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

FY2023
Revised
Forecasts

FY2022
Results

ChangeMillions of yen (rounded down)■ Commercial Property Business
Operating Revenue Breakdown (Consolidated)*1

FY2023
Revised
Forecasts

FY2022
Results

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

ChangeFY2023
Revised
Forecasts

FY2022
Results

Commercial Property Business

843,000

777,424

65,576

Residential Business

381,000

346,419

34,581

Marunouchi Area Office Building

254,000

253,525475

International Business

158,000

176,130(18,130)

Tokyo Area Office Building (Outside of Marunouchi)

148,000

145,827

2,173

Investment Management Business

36,00035,878

122

Office Building (Outside of Tokyo)

63,00061,914

1,086

Architectural Design & Engineering Business and Real Estate Services Business

67,00060,7746,226

Outlet Mall

57,00051,052

5,948

Other

11,00011,801(801)

Other*2

40,00036,634

3,366

Eliminations(27,000)(30,602)3,602

562,000

548,954

13,046

1,469,000

1,377,827

91,173

Sales of assets

134,000

105,228

28,772

Commercial Property Business

195,000

188,852

6,148

Other*3

147,000

123,240

23,760Loss related to retirement of non-current assets

Residential Business

36,00035,037963

Total

843,000

777,424

65,576

Loss on valuation of shares of subsidiaries and associates

2,599International Business

54,00089,400(35,400)

Impairment losses

3,535

Operating Revenue

Investment Management Business

5,000

8,054

(3,054)

Architectural Design & Engineering Business and Real Estate Services Business

5,000

4,176

824

Other

(1,000)(2,121)

1,121

Eliminations or Corporate

Leasing

Total leasing*1 Including revenue from other segments

Gain on sale of non-current assets

8,921

Gain on sale of investment securities

3,303

Total

31,00012,224*2 Including independent shopping center, logistics facility, etc.

Loss on valuation of equity investments*3 Including property management, hotel, dividend from unconsolidated SPC (including capital gain through SPC),
revenue from flexible workspace business(Japan Regus), etc

Total

FY2023
Revised
Forecasts

FY2022
Results

7,264
5,000

31,141(26,696)(3,304)

296,702(32,702)

11,00014,361(3,361)

300

260

40

43,00039,244

3,756

232,000

271,819(39,819)

Extraordinary income

31,00012,224

18,776

Commercial Property Business

47,00042,0005,000

Business profit

Extraordinary loss

5,000

31,141(26,141)

Residential Business

19,00024,000(5,000)*Business profit: Operating profit + Share of profit of entities accounted for using equity method

258,000

252,902

5,098International Business

30,00079,00070,6348,366

Investment Management Business--

179,000

182,268(3,268)

Other

-

-

-

13,00016,924(3,924)

Eliminations or Corporate

-

-

-

166,000

165,343657(Share of profit of entities accounted for using equity method)

Non-operating expenses
Ordinary Profit

Profit before Income Taxes
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit Attributable to Owners of Parent

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

Total

FY2023
Revised
Forecasts

96,000

FY2022
Results

61,000127,000(26,141)

Millions of yen (rounded down)■ Business profit

ChangeChange17,741(30,000)

Non-operating income

18,776

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

264,000

Operating Profit

ChangeFY2023
Revised
Forecasts

264,300

FY2022
Results

296,962

Change(32,662)(31,000)-(31,000)*Capital Gains: Disposition of assets and other one-time-only profit with the exclusion of residential condominium sales.

3Income Statement Progress Against Forecast for FY2023
Millions of yen (rounded down)

FY2023
Revised
Forecasts

FY2023-2Q
Results

Progress Rate

Millions of yen (rounded down)■ Commercial Property Business
Operating Revenue Breakdown (Consolidated)*1

FY2023
Revised
Forecasts

FY2023-2Q
Results

Progress Rate

Commercial Property Business

372,181

843,000

44.1%

Residential Business

121,270

381,000

31.8%

Marunouchi Area Office Building

129,536

254,000

51.0%

International Business

58,991

158,000

37.3%

Tokyo Area Office Building (Outside of Marunouchi)

72,354148,000

48.9%

Leasing

Investment Management Business

13,951

36,00038.8%

Office Building (Outside of Tokyo)

32,47763,00051.6%

Architectural Design & Engineering Business and Real Estate Services Business

31,16467,00046.5%

Outlet Mall

26,85857,000

47.1%

4,899

11,00044.5%

Other*2

18,64840,00046.6%

279,874

562,000

49.8%

20,325134,000

15.2%

Other
Eliminations
Operating Revenue
Commercial Property Business(14,525)(27,000)

53.8%

587,933

1,469,000

40.0%

Sales of assets

Total leasing

87,985

195,000

45.1%

Other*3

71,982147,000

49.0%

Residential Business(985)

36,000(2.7%)

Total

372,181

843,000

44.1%

International Business

18,01954,00033.4%*1 Including revenue from other segments

Investment Management Business(2,386)5,000(47.7%)

Architectural Design & Engineering Business and Real Estate Services Business

2,553

5,000

51.1%

Other

(1,172)(1,000)117.2%

Eliminations or Corporate(13,699)(30,000)

45.7%

90,314

264,000

34.2%

8,631

11,00078.5%

Operating Profit
Non-operating income(Share of profit of entities accounted for using equity method)

Non-operating expenses
Ordinary Profit
Extraordinary income

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

FY2023
Revised
Forecasts

FY2023-2Q
Results

Gain on sale of investment securities

7,345

Total

7,345

Progress Rate

31,00023.7%

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

FY2023
Revised
Forecasts

FY2023-2Q
Results

Total-

Progress Rate

5,000

0.0%

*2 Including independent shopping center, logistics facility, etc.
*3 Including property management, hotel, dividend from unconsolidated SPC (including capital gain through SPC),
revenue from flexible workspace business(Japan Regus), etc

320

300

106.7%

23,721

43,00055.2%

75,224232,000

32.4%

31,00023.7%

Commercial Property Business

6,000

47,00012.8%

Business profit

5,000

0.0%

Residential Business

6,000

19,00031.6%*Business profit: Operating profit + Share of profit of entities accounted for using equity method

8,000

7,345

Extraordinary loss
Profit before Income Taxes

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

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

FY2023
Revised
Forecasts

FY2023-2Q
Results

Progress Rate

82,570258,000

32.0%

International Business

35,95279,00045.5%

Investment Management Business--

46,617179,000

26.0%

Other

-

-

-

5,071

13,00039.0%

Eliminations or Corporate

-

-

-

41,546

166,000

25.0%

Total

20,00030,00096,000Millions of yen (rounded down)■ Business profit

FY2023-2Q
Results

90,635

FY2023
Revised
Forecasts

Progress Rate

264,300

34.3%

26.7%
-

20.8%

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

4Balance Sheet Results
Millions of yen (rounded down)

At Sep 30, 2023

At Mar 31, 2023

Millions of yen (rounded down)

ChangeAssetsAt Sep 30, 2023

At Mar 31, 2023

ChangeLiabilities

I. Current assets
1. Cash and deposits
2. Trade notes accounts receivable, and contract assets
3. Securities
4. Real estate for sale

355,919
60,4883,931
43,352225,01169,987
3,578
65,252130,908(9,498)353(21,900)

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

53,609289,128
76,286200,000

66,407
194,881
210,087-(12,798)
94,247(133,801)
200,000

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

480,089719

420,956
719

59,132-

5. Current portion of bonds payable
6. Income taxes payable

37,24918,573

26,63523,574

10,614(5,000)

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

7,656
1,537
836,318

5,201
1,413
716,416

2,454
123
119,901

7. Other current liabilities

273,806
948,652

333,752
855,337(59,946)
93,315

II. Non-current liabilities

10. Other current assets
11. Allowance for doubtful accounts

93,127(939)

108,723(659)(15,596)(279)

1. Bonds payable
2. Long-term borrowings

850,584
1,755,904

820,584
1,618,019

30,000137,885

1,882,201

1,616,602

265,598

1,353,257
26,8072,361,752
575,529
222,298
30,7984,570,443

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

130,265(1,101)
26,291(118)(6,656)
5,548
154,229

3. Leasehold and guarantee deposits received
4. Deferred tax liabilities
5. Deferred tax liabilities for land revaluation
6. Retirement benefit liability

450,473
318,307
264,082
28,003416
110
61,491
209,052
3,938,425
4,887,078

448,442
288,861
264,082
27,644478
582
60,413
107,568
3,636,680
4,492,017

2,030
29,445
358
(62)
(472)
1,077
101,483
301,745
395,060

81,38828,767110,156

81,74529,441
111,187

(357)
(674)
(1,031)

379,893
4,638
146,391
64,43927,402
188,322(611)
810,475
5,491,075
7,373,276

306,352
2,559
144,070
62,52825,943
187,095(596)
727,954
5,255,356
6,871,959

73,540
2,078
2,320
1,910
1,458
1,226
(15)
82,520235,718
501,317

142,414
159,049
1,164,335(88,392)
1,377,407

142,414
157,914
1,147,425(48,454)
1,399,299

1,135
16,910(39,937)(21,891)

185,466
2,015
526,417
155,641
12,058881,598
168
227,023
2,486,198
7,373,276

138,5522,106
526,417
77,48913,695758,261
193
222,187
2,379,941
6,871,959

46,913(91)
78,152(1,637)
123,336(24)
4,835
106,256
501,317

Total current assets
II. Non-current assets
1. Property, plant and equipment(1) Buildings and structures(2) Machinery, equipment and vehicles(3) Land(4) Land in trust(5) Construction in progress(6) Other property, plant and equipment
Total property, plant and equipment
2. Intangible assets(1) Leasehold interests in land
(2) Other intangible assets
Total intangible assets
3. Investments and other assets(1) Investment securities(2) Long-term loans receivable(3) Leasehold and guarantee deposits(4) Retirement benefit asset(5) Deferred tax assets(6) Other investments(7) Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

Total current liabilities

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

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

5Assets Breakdown (Consolidated)
Millions of yen (rounded down)
At Sep 30, 2023

At Mar 31, 2023

ChangeCondominium (domestic)

386,736

344,572

42,164

International

20,506

27,611(7,105)

US

9,192

17,697(8,505)---Inventories

EuropeAsia

11,313

9,913

1,400

126,112

121,361

4,751

533,354493,544

39,810

Domestic Office Building

75,17556,81018,365

Domestic (other)

84,01280,975

3,037International

677,130

578,630

98,500US

332,473

298,349

34,124

Europe48,56542,957

5,608

296,091

237,323

58,768836,318

716,416

119,901

3,121,439

3,128,790(7,351)

Outlet Mall

136,773

137,313(540)

Logistics Facility

149,617106,355

43,262Retail Property (Except Outlet Mall)

143,986

143,054

932

OtherTotal inventories
Equity investments

Asia
Total equity investments
Property, plant and equipment
Office Building

Rental Apartment

163,089

146,896

16,193

International

588,030

493,339

94,691

US

312,857

262,495

50,362Europe256,431

215,741

40,690Asia

18,741

15,103

3,638

Other
Total property, plant and equipment

267,509260,467

7,042

4,570,443

4,416,214

154,229

6

Cash Flow Statements
Millions of yen (rounded down)

Profit before income taxes①FY2022-2Q Results②FY2023-2Q Results

Change（②-①）③FY2022 Results④FY2023 (Forecasts)

Change（④-③）

123,186

82,570(40,615)

252,902

258,000

5,098

Adjustment for extraordinary income or loss

4,384

(4,725)(9,110)13,756(29,000)(42,756)

Depreciation

46,08447,2291,145

93,45996,0002,541(133,010)(12,710)120,299

7,462

151,000

143,538

Decrease (increase) in equity investments

24,928(53,544)(78,472)(5,399)(92,000)(86,601)

Other(18,292)

54,94473,236(27,960)

23,00050,960

Income taxes refund (paid)(35,288)(37,624)(2,335)(64,305)(79,000)(14,695)

11,99376,13964,146

269,914

328,000

58,086

Proceeds from sale and redemption of investment securities

845

11,581

10,736

7,717

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

7,561

31

(7,529)17,047(146,612)(175,157)(28,544)(286,523)(424,000)(137,477)(6,669)(10,343)(3,673)(50,288)

106,000

156,288(144,875)(173,887)(29,011)(312,046)(318,000)(5,954)

Newly acquired funds

142,127

210,642

68,514309,326

327,000

17,674

Repayment(107,308)(190,185)(82,876)(175,040)(270,000)(94,960)

Cash dividends paid

(35,404)(33,478)

1,925(70,426)(68,000)

2,426

(9)

(40,476)(40,467)(45,822)(54,000)(8,178)165,291

271,311106,020

12,42023,000

10,580164,697

217,813

53,11630,457(42,000)(72,457)

277,126

356,854

79,727

225,772

190,000(35,772)(132,882)(97,747)

35,134(42,132)

10,00052,132

Decrease (increase) in inventories

Cash flows from operating activities

Capital investment
Other
Cash flows from investing activities

Repurchase and disposal of own shares
Other
Cash flows from financing activities
Cash and cash equivalents at end of period
Free cash flow

7

Major Performance Items
Millions of yen (rounded down)

PL

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

FY2023 (Forecasts)

Operating revenue

1,207,594

1,349,489

594,565

1,377,827

587,933

1,469,000

Operating profit

224,394

278,977

142,078

296,70290,314

264,000

Ordinary profit

210,965

253,710130,534

271,819

75,224232,000

Profit attributable to owners of parent

135,655

155,171

76,342

165,343

41,546

166,000

6,072,519

6,493,917

6,903,947

6,871,959

7,373,276

7,000,000

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

BS

509,728

493,544533,354-

4,576,019

4,527,401

4,680,599-

2,526,142

2,738,632

2,986,764

2,871,677

3,210,703

2,940,000

Net interest-bearing debt

2,353,835

2,504,387

2,709,637

2,645,905

2,853,848

2,750,000

Shareholders' equity *1
Cash flow from operating activities(Depreciation)
Cash flow from investing activities(Capital investment)

0.87 ％

0.79 ％

0.79 ％

0.89 ％

1,851,899

2,003,225

2,151,056

2,157,561

207,414280,090

11,993

89,107

91,581

46,084(297,303)(313,778)

1.08 ％

1.10 ％

2,259,006

2,180,000

269,914

76,139328,000

93,45947,22996,000(144,875)(312,046)(173,887)(318,000)(319,841)(329,115)(146,612)(286,523)(175,157)(424,000)

Cash flow from financing activities

50,42590,973

164,697

30,457

217,813(42,000)

Free cash flow

(89,889)(33,687)(132,882)(42,132)(97,747)

10,000Business profit *2

224,701

279,310

142,368

296,962

90,635

264,300

EBITDA *3

331,821 *4

381,434

194,350402,221145,000

374,500

ROA*5

3.8 ％

4.4 ％

-％

4.4 ％

-％

3.8 ％

ROE*6

7.6 ％

8.1 ％

-％

7.9 ％

-％

7.7 ％

Indicator EPS(Yen)

101.34116.4557.71

125.5432.34

130.08Net interest-bearing debt／EBITDA

7.1 times

6.6 times- times

6.6 times- times

After hybrid debt deductions *7

6.6 times

6.2 times- times

6.2 times- times

1.36

1.37

Debt equity ratio *8
After hybrid debt deductions*7
Interest expense
Interest coverage ratio (ICR) *9
Annual dividends per share(Yen)Dividend payout ratio
Other347,388
4,454,082

Interest-bearing debt
Average interest rateCF364,834
4,280,988

1.39

1.33

1.42

7.3 times
6.9 times
1.35

1.18

1.19

1.23

1.17

1.28

1.19

21,623

20,742

11,29825,001

16,421

32,00011.2 times

13.9 times

31

36

30.6 ％

30.9 ％

13.0 times
19-％

12.2 times
38

5.8 times
20

30.3 ％

8.5 times
40-％

30.8 ％-

Current value of Income generating assets

8,361,217

8,840,420-

8,964,491-

Income generating assets unrealized gain

4,250,222

4,573,290-

4,633,863-

Exchange average rate(¥/$）/PL

106.77109.91

123.15

131.63135.00136.00Exchange average rate(¥/£）/PL

137.01151.18159.58162.00166.64170.00Exchange current rate(¥/$）/BS

103.50115.02136.68132.70144.99136.00Exchange current rate(¥/£）/BS

139.82

155.24165.71160.00182.95170.00-*1 Shareholders' equity = Net assets - Stock acquisition rights - Non-controlling interests*2 Business profit = Operating profit + Share of profit of entities accounted for using equity method*3 EBITDA = Operating income + Interest income + Dividend income + Share of profit of entities accounted for using equity method + Depreciation + Amortization of goodwill*4 Depreciation for FY2020 = Total of Depreciation － Depreciation included in Loss on infectious disease (1,976 millions of yen)
*5 ROA = Business profit / Total assets (average）*6 ROE = Profit attributable to owners of parent / Shareholders' equity (average)*7 The subordinated bond and subordinated loan subject to equity credit from a credit rating agency (50% equity treatment) are shown after deductions.
*8 Debt equity ratio = Interest-bearing debt / Shareholders' equity*9 ICR = (Operating profit + Interest income + Dividend income + Share of profit of entities accounted for using equity method) / Interest expense

8

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

FY2020672,441
362,755
114,457
22,199Commercial Property BusinessResidential Business
International Business
Investment Management Business
OperatingArchitectural Design & Engineering Business andrevenue
56,064
Real Estate Services Business
9,055
Others(29,378)
Eliminations or Corporate
1,207,594
Total
180,775
Commercial Property Business
24,068Residential Business
37,932
International Business
5,966
Investment Management Business
OperatingArchitectural Design & Engineering Business andprofit959
Real Estate Services Business(1,089)Others(24,219)
Eliminations or Corporate
224,394
Total
181,084
Commercial Property Business
24,066
Residential Business
37,932
International Business
5,966
Investment Management BusinessBusiness profit* Architectural Design & Engineering Business and959
Real Estate Services Business(1,089)Others(24,219)
Eliminations or Corporate
224,701
Total
71,713
Commercial Property Business
4,120
Residential Business
8,599International Business
1,359
Investment Management Business
Depreciation
Architectural Design & Engineering Business and909
Real Estate Services Business
130
Others2,274
Eliminations or Corporate
89,107
Total
75
Commercial Property Business
358
Residential Business
64
International Business
2,146
Investment Management Business
Amortization ofArchitectural Design & Engineering Business andgoodwill
377
Real Estate Services Business
OthersEliminations or Corporate
3,022
Total
193,938
Commercial Property Business
72,629Residential Business
47,713
International Business54
Investment Management Business
CapitalArchitectural Design & Engineering Business andinvestment
454
Real Estate Services Business
321
Others4,729
Eliminations or Corporate
319,841
Total
4,167,287
Commercial Property Business
673,344
Residential Business
929,869
International Business
77,586
Investment Management BusinessTotal assets
Architectural Design & Engineering Business and56,067
Real Estate Services Business
25,367
Others142,995
Eliminations or Corporate
6,072,519
Total*Business profit: Operating profit + Share of profit of entities accounted for using equity method

FY2021760,658
380,959
121,234
46,702

FY2022-2Q
333,109
120,633
94,03329,480

FY2022
777,424
346,419
176,130
35,878FY2023-2Q
372,181
121,270
58,991
13,951

FY2023 (Forecasts)
843,000
381,000
158,000
36,00057,78026,19960,774

31,16467,000

10,134(27,979)
1,349,489
189,90930,17355,816
26,537

4,686(13,578)594,565
77,9193,339
60,786
14,60811,801(30,602)
1,377,827
188,852
35,03789,4008,054

4,899(14,525)
587,933
87,985(985)
18,019(2,386)

11,000(27,000)
1,469,000
195,000
36,00054,000
5,000

2,802

(382)

4,176

2,553

5,000

(1,683)(24,578)
278,977
190,21130,20455,816
26,537(1,048)(13,143)
142,078
78,195
3,353
60,786
14,608(2,121)(26,696)296,702
189,089
35,05989,4008,054(1,172)(13,699)
90,31488,306(985)
18,019(2,386)(1,000)(30,000)
264,000
195,300
36,00054,000
5,000

2,802

(382)

4,176

2,553

5,000

(1,683)(24,578)
279,31073,315
4,570
8,460
1,681

(1,048)(13,143)
142,368
35,855
2,392
4,990
914

(2,121)(26,696)296,962
72,181
4,993
10,4101,837(1,172)(13,699)
90,63536,660
2,759
4,787
896

(1,000)(30,000)
264,300
-

894

482

981

432

-

147
2,510
91,581
75
358
67
1,665

65
1,384
46,084
37
179
1
1,082

147
2,907
93,459
75
358
217
2,140

76
1,617
47,229
979
179
1
486

377

188
-

377
-

96,000
-

188
-

-

-

2,544
167,689
51,998113,403
938

1,489
87,72725,33432,91818

3,170
134,406
57,943
93,953334

1,835
91,71632,52949,493
206

5,800

653

156

332

129

-

51
(5,620)329,115
4,273,287
666,928
1,130,973
108,984

156
299
146,612
4,298,213
818,032
1,347,629
137,970794(1,241)
286,523
4,434,331
834,751
1,270,849
112,590116964
175,157
4,466,131
880,681
1,542,962
115,975--

424,000-

57,75954,551

61,22558,278-25,352
230,630
6,493,917

27,102
220,446
6,903,947

27,599130,610
6,871,959

14,881
294,365
7,373,276

7,000,000

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

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

542,646
138,571
158,345
110,616
4,936,321
51,455567,286
120,792
128,934
93,612
5,079,089
53,442245,751
43,12062,23347,4685,311,798
26,607523,275
94,201
107,856
67,4085,326,049
53,460289,357
70,80994,855
81,1185,702,145
27,089FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

100.00 ％48,087
2,093
2,102
1,432
92,014108
219
9,693,670 ㎡

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

100.00 ％49,516
2,334
2,311
1,729
95,419144
212
9,539,962 ㎡

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

63.20 ％
13,553
2,970
2,922
2,022
105,423
2,798

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

63.20 ％
15,719
4,587
4,664
3,231
109,6162,807

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

60.00 ％
22,717
8,540
8,581
5,914
126,021
2,981
345,600 ㎡

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

60.00 ％
26,862
10,89910,914
7,524
131,933
3,464
373,000 ㎡

65.59 ％
9,955
1,612
1,574
996
40,606
1,767

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

65.59 ％
10,231
1,856
1,777
1,228
39,244
1,642* As of April 1, 2021, Mitsubishi Jisho Retail Management was merged into Mitsubishi Jisho Property Management thus calculated figures after FY2021 includes figures of Mitsubishi Jisho Retail Management.

10Tokyo Ryutsu Center Inc.
FY2020Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Royal Park Hotels and Resorts Co., Ltd.*
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Residence Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Home Co., Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Jisho Community Co., Ltd.
Share of voting rights

FY2021

FY2022-2Q

FY2022

FY2023-2Q

60.03 ％

60.42 ％

60.42 ％

60.47 ％

60.47 ％

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

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

4,104
996
902
633
59,751
881

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

4,183
817
683
491
85,870961

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

100.00 ％65,060
4,186
3,186
2,261
796,192
1,516

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

100.00 ％65,057
1,286
235
290
851,937
1,888

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

100.00 ％28,200318
324
287
13,092400

100.00 ％33,493
210
213
187
11,016354

FY2020

FY202171.47 ％

71.47 ％

100.00 ％12,852(1,417)(1,136)(1,136)
15,625581

100.00 ％13,965
(698)
(695)
(710)
8,904
185
FY2022-2Q
71.47 ％

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

100.00 ％33,661
(707)
(768)
(854)
10,660391
FY202271.47 ％

100.00 ％20,733619
629
513
17,626641

100.00 ％13,344
(864)
(864)
(884)
8,383
170
FY2023-2Q
71.47 ％

Operating revenue
55,66357,342
27,25758,354
28,162
Operating profit
3,629
3,713
1,366
3,945
1,386
Ordinary profit
3,690
3,790
1,414
4,032
1,426
Net income
2,477
2,476
928
2,639
915
Total assets
21,90822,901
21,54424,45323,322
Depreciation
394
371
167
332
177
Number of condominium management units
350,682 units
345,327 units
342,947 units
344,867 units
345,488 units* As of April 1, 2022, Royal Park Hotel's management business was transferred to Royal Park Hotels and Resorts thus calculated figures after FY2022 includes figures of Royal Park Hotel.

11

MEC Group International, Inc.*1
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Europe Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Estate Asia Pte. Ltd.
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Jisho Design Inc.*2
Share of voting rights
Operating revenue
Operating profit
Ordinary profit
Net income
Total assets
Depreciation
Mitsubishi Real Estate Services Co., Ltd.
Share of voting rights

FY2020

FY2021100.00 ％89,22230,877100.00 ％127,440
61,692100.00 ％71,69036,259100.00 ％142,972
58,658100.00 ％57,16914,59326,353
17,077468,786
5,744

59,62525,636592,915
6,535

34,894
14,537
737,540
4,053

54,82033,606
720,5298,506

11,908
7,653
819,759
4,033

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

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

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

100.00 ％41,297
39,69938,39633,543286,943711

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

100.00 ％3,485
757(2,552)(2,152)
337,569
1,134

FY2020

FY2021

FY2022-2Q

FY2022

FY2023-2Q

100.00 ％
3,042
1,322
1,809
1,788
38,750128

100.00 ％
2,824
200
347
59
43,105299

FY2020

FY2021100.00 ％20,034
3,052
3,073
2,110
27,106329

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

FY2020

FY2021100.00 ％100.00 ％Operating revenue
22,662
24,820Operating profit
202
1,554
Ordinary profit
216
1,672
Net income
21
1,104
Total assets
23,847
24,977
Depreciation
362
348
Amount of transaction
260,240
273,926
Number of brokerage
932
1,118
Number of parking management
56,59658,418*1 Rockfeller Group, Inc. changed its name to MEC Group International, Inc. on January 1, 2020.
*2 Mitsubishi Jisho Sekkei Inc. changed its English name to Mitsubishi Jisho Design Inc. on April 1, 2022.

FY2022-2Q

100.00 ％
1,113
(889)
(753)
(633)
50,097120
FY2022-2Q
100.00 ％
8,031
337
357
224
25,602159
FY2022-2Q

FY2022100.00 ％3,224(1,201)(1,035)(837)
56,847377
FY2022100.00 ％20,350
2,640
2,683
1,927
28,478324
FY2022

FY2023-2Q

100.00 ％1,566(1,439)(1,444)(1,367)
82,277131
FY2023-2Q
100.00 ％
8,808
702
711
464
27,327100
FY2023-2Q

100.00 ％100.00 ％100.00 ％11,940
(54)
(61)
(73)
24,092
183
99,041
540
59,553

26,842
2,675
2,763
1,889
26,968367
355,950
1,197
61,004

14,733
2,211
2,215
1,543
25,426
166
152,370
609
62,61112