November 7, 2023

MORI TRUST CO., LTD.

New Mori Trust Group Mid toLong Term Vision
Advance2030 Established¥1.2 Trillion in New Investment by FY2030
MORI TRUST CO., LTD. hereby announces the revision of Advance2027, theMori Trust Group Mid to Long Term Vision formulated in 2016, as Advance2030
with the establishment of a target for ¥1.2 trillion in new investment in the leadup to FY2030, as well as targets for ¥330.0 billion in operating revenue and¥70.0 billion in operating income by FY2030.

Fiscal year
Operatingrevenue

FY2016

FY2030

FY2023(Advance2030)

1,402

2,7503,300627

900

1,000298

630

1,000364

1,020

1,000112200300

303

５５０700Rental related
business
Hotel related
business
Real estate sales
business
Other business
Operatingincome(Figures in Bllions of yen)
Advance2030 Numerical Targets
Since 2016 when Miwako Date assumed the position of President and Chief
Executive Officer, MORI TRUST has been promoting its three businesses of Real
Estate, Hotel & Resorts, and Investment, having formulated Advance2027, its
mid to long term vision aimed at stable growth while maintaining a solid financial
platform for regional innovation and globalization in Japan over the next decadewith targets for ¥230.0 billion in operating revenue and ¥50.0 billion inoperating income in FY2027. The Group has already achieved the final targetsof Advance2027 for four fiscal years in a row since FY2019 and has recorded
all-time high leasing-related revenue and hotel-related revenue.

Therefore, following the COVID-19 pandemic, the Group has revised
Advance2027 into the new mid to long term vision Advance2030. The Group
has set a target of achieving ¥330.0 billion in operating revenue in FY2030, thefinal year of the vision, aiming for more than ¥100.0 billion in revenue in all thereporting segments, which are the leasing related business, the hotel related
business, and the real estate sales business through business investment of¥1.2 trillion by FY2030.
Business Strategy for Achieving Operating Revenue of ¥330.0 Billion
In the Real Estate business, we plan to hold the grand opening for Tokyo World
Gate Akasaka in 2025. We aim to develop it as a landmark in central Tokyo thatwill help to enhance international city capabilities, serving as a new destination
based on the concept of “NEXT DESTINATION.” Furthermore, in terms ofoverseas investment, we are participating in the joint development of 15 Necco
Street, a life science lab and office in Boston, U.S., one of the nation’s leadingclusters of companies, venture capital, government and educational institutions
involved in the field of life sciences. We are also participating in the renovation
project at 245 Park Avenue, located in the Midtown area, which is the economicand cultural center of Manhattan, New York.
At present, in the Hotel & Resort business, we are carrying out a large-scalerenovation and reconstruction project at the Karuizawa Mampei Hotel and adevelopment project at the Hotel Indigo Nagasaki Glover Street in Nagasaki. We
also aim to supply 2,000 hotel rooms by FY2030. In addition, we operate 30
hotels and with plans for 25 more, including those under development, we will
promote the attraction of international hotels in the Izu Hakone and Hokuriku
areas, in addition to Tokyo and Kyoto, which are golden routes for tourism. We
will also accelerate our Luxury Destination Network initiative.
Furthermore, we plan to meet the diverse needs of residents, travelers, andinvestors by supplying hotel condominiums and branded residences bearing thenames of luxury brands as our focus for the future, taking advantage of ourexpertise in luxury residences and hotel development and management
cultivated to date. By FY2030, we will develop 800 units in central Tokyo andpopular resort areas in order to further capture the affluent segment in Japanand overseas who find Japan attractive.
Further Promoting Business
Under its corporate slogan “Create the Future,” the Mori Trust Group willfurther promote the Real Estate and Hotel & Resort businesses looking to thefuture in order to make a contribution to strengthening Japan’s international
competitiveness in the lead up to 2030.

Advance2023 Action Plans
We will continue to implement the following action plans under Advance2030.
（１）Real Estate Business (Leasing and Sales)ⅰ）Selectionand concentration

Intensive investment in areas where we canbe highly competitiveⅱ）Optimal combinations

Optimally combine functions to maximize
the characteristics of landⅲ）Strengthening international

Contribute to the kind of urban

city functions

development which serves to contribute to
the strengthening of Japan’s international
competitiveness（２）Hotel & Resorts Businessⅰ）Communicating the brand of

Leverage abundant tourism resources toJapan

communicate the charm of Japan to therest of the worldⅱ）Global standards

Providing services based on international
standards and global lifestyles to theJapanese marketⅲ）Innovation

Creating new value by integrating Japaneseculture with services that are based oninternational standardsⅳ）Aiming for Japan to become

Contributing through business to thean advanced country in terms ofestablishment of Japan’s status as antourism

advanced country when it comes to tourism（３）Investment BusinessIn order to build an optimal business and asset portfolio in a manner having
us promptly responding to the times, we will ensure that our investments focus
on stability, sustainability, and growth potential through the deployment ofvariety of investment methods for all businesses serving to bring value togreater society.

■Implementation Plans in Advance2030

Real Estate Business (Leasing)・Tokyo World Gate Akasaka/Akasaka Trust Tower (grand opening planned inFY2025)
We are promoting development with the aim of creating an urban areathat will become a destination for diverse people to meet and interact
based on the area concept of “Next Destination: Meet up again in the city.”

Site area

approx. 15,750 ㎡
approx. 220,000 ㎡

Rentable Area
(Including existing buildings)
Number of

43 floors above groundfloors3 floors below ground2-chome, Akasaka, Minato-ku,

Location
TokyoOffices, hotel, serviced
apartments,
shop & restaurant, facilities toProperty Typesupport
tourism, facilities to promotehistory and culture, clinics

・15 Necco Street
MORI TRUST is participating in the joint development of a life science lab andoffice in the Seaport District, designated as an area for city-led innovation inBoston, U.S., which has one of the nation’s leading clusters of companies, venture
capital, government and educational institutions involved in the field of life
sciences.
Site area

8,979 ㎡

Rentable Area

32,143 ㎡

Number of

12 floors above groundfloors1 basement floor
15 Necco Street, Boston,

Location
Massachusetts 02210
Property Type

Laboratory and office, Retail・245 Park Avenue
245 Park Avenue is an office building located in the Midtown area, which is theeconomic and cultural center of Manhattan, which has the largest urban
population in the United States, and is home to tourist attractions such as Times
Square, high-rise buildings, and luxury hotels. It will be jointly owned with SL Green
Realty Corp., the largest real estate company in Manhattan, and the renovation
project will be carried out ahead of 2025.
Site area

7.556 ㎡

Rentable Area

165,627 ㎡

Number of floors

45 loors above ground
245 Park Ave, New York, NY

Location
10029
Property TypeOffices

Hotel & Resorts Business・Tokyo EDITION, Ginza (scheduled to open during 2023)
With a strong affinity with the customer base for the high-end global brands
located in the in the surrounding area, the aim is to contribute to thesustainable development of the Ginza area by attracting global travelers,
including trendsetters and the affluent segment
Site area

663.91 ㎡

Total floor area

7,654.82 ㎡
14 floors above groundNumber of floors
1 basement floor
8-13, Ginza 2-chome,
Location
Chuo-ku, Tokyo
Number of rooms

86 rooms (Including suiterooms)

・ Laforet Hakone Gora Yunosumika
Ayanokan (scheduled to open on Friday, January 19, 2024)
Based on the concept of “Immersion through the five senses and creatingrich times,” the hotel is scheduled to open in 2024 as a place with high-quality
facilities in harmony with the nature of Hakone and attentive service where
Hakone can be enjoyed through the five senses.
Site area

６９１.95 ㎡

Total floor area

996.12 ㎡

Number of floors

4 loors above ground

Location

1320-708 Gora, Hakonecho, Ashigarashita-gun,
Kanagawa

Number of rooms

22 rooms

・Mampei Hotel large-scale renovation and reconstruction project (scheduled
to open in summer 2024)
The project is a large-scale renovation and reconstruction of Mampei Hotelwhich will celebrate its 130th anniversary in 2024. The project aims topreserve the traditions of the hotel as a valuable historical building in thehistory of Japanese hotels and to provide a prestigious place to stay as aclassic hotel for a long time into the future.
Site area

103,676.00 ㎡

Total floor area

13,278.74 ㎡
2 floors above groundNumber of floors
1 basement floor
925 Karuizawa, KaruizawaLocationcho, Kitasaku-gun, NaganoAreas planned forAlps Building, Asamarenovation/constrBuilding, Atago Building,uctionetc.

・ Hotel Indigo Nagasaki Glover Street (scheduled to open in winter 20242025)
Nagasaki is a tourist attraction with an exotic and cosmopolitan atmosphere.
Hotel Indigo, a boutique brand developed by IHG Hotels & Resorts, wasattracted to the area, where further development of tourism is expected withthe opening of the Nishi Kyushu Shinkansen.
Site area

5,505.29 ㎡

Rentable Area

4,561.91 ㎡

Number of3 floors above groundfloors

1 basement floor
12-17 Minamiyamate-cho,Location
Nagasaki City, Nagasaki
Number ofrooms

approx.70 rooms

List of Existing Hotels and New Hotel Projects

Real Estate Business (Sales)
・Hotel Condominiums/Branded Residences

Going forward, the Mori Trust Group will promote the development of hotel
condominiums and branded residences with the names of major brands thatoffer luxury services, such as hotels, and will supply 800 units by FY2030. By
adding to our lineup of development projects, we will utilize our expertise inluxury hotel development and develop differentiation from the competing
residential property market.
【Reference】
Hotel condominiums: Hotels for sale, where individuals, etc. can purchaserooms under separate ownership to use themselves or to rent out as hotel
rooms to earn rental income

Branded residences: Residences for sale which bear the name of major brands,
such as hotels, and which offer the services and other added benefits of luxury
hotels and residences