October 31, 2007

Summary of Financial Statements for the First Half of FY2008 (the Fiscal Year Ending March 31, 2008)
Company Name:

Mitsubishi Estate Co., Ltd.

Listed Stock Exchanges: Tokyo, Osaka, Nagoya, Sapporo, Fukuoka

Securities Code:
Representative:

8802
Keiji Kimura, President & CEO
Toshihiko Kazama, Executive Officer & General
Manager of Corporate Communications
December 25, 2007

URL: http://www.mec.co.jp

Inquiries:
Filing of Semiannual Report:

TEL: +81-3-3287-5200
Date for Payment of Interim Dividends:

December 4, 2007

*Figures are rounded down to the nearest million.
１．Consolidated Results for the First Half of FY2008 (April 1, 2007 – September 30, 2007)* Percent figures for net sales, operating income, ordinary income, and net income express percentage change from the same period of the previous fiscal year.
(1) Consolidated Results
Revenue from operations

Income before taxes

Operating Income

Net Income

and special items

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

1H FY2008

317,810(17.1)

58,277(17.3)

50,338(16.3)

25,393(13.7)

1H FY2007

383,269

5.3

70,454

9.6

60,166

14.4

29,43146.4

FY2007

947,641－

166,165－

151,674－

97,662－EPS

Diluted EPS
Yen

Yen

1H FY2008

18.39

18.39

1H FY2007

21.45

21.31

FY2007

70.95

70.71

(Reference) Equity in earnings of unconsolidated subsidiaries & affiliates

1H FY2008¥403million

1H FY2007¥758million

FY2007 ¥8,094million(2) Consolidated Financial Position
Total Assets

Net Assets

Millions of yen

Total Equity to Total Assets

Net Assets per Share

Millions of yen%

Yen

As of Sep. 30, 2007

3,497,372

1,276,192

35.4

896.79As of Sep. 30, 2006

3,175,4491,180,250

36.1

830.69As of Mar. 31, 2007

3,447,272

1,260,90835.6

887.79(Reference) Total Equity
As of Sep. 30, 2007 ¥1,238,111million
As of Sep. 30, 2006 ¥1,146,970million* Total equity is calculated by deducting minority interests and stock acquisition rights from total net assets.

As of Mar. 31, 2007 ¥1,225,644million(3) Consolidated Cash Flows
Cash Flows

Cash Flows

Cash Flows

Cash and Cash Equivalentsfrom Operating Activities

from Investing Activities

from Financing Activities

at End of Period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

1H FY2008(21,676)(155,280)

97,494

129,268

1H FY2007(17,048)(46,504)(29,538)

73,815

FY2007150,710(85,389)(34,093)

206,089

２．Dividends
Dividends per share(Date of Record)InterimYear-End

Annual

Yen

Yen

Yen

FY2007

6.00

8.00

14.00

1H FY2008

8.00

FY2008 Planned－－

16.00
8.00

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３．Forecast of Consolidated Financial Results for the FY2008 (April 1, 2007—March 31, 2008)*Percent figures for net sales, operating income, ordinary income, and net income express percentage change from the same period of the previous fiscal year.
Revenue from operations

Income before taxes

Operating IncomeNet Incomeand special items

EPS

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

789,000(16.7)

169,500

2.0

156,500

3.2

85,000(13.0)

61.57

FY2008

４．Others(1) Significant Change in Scope of Consolidation During Period: No(2) Change in Accounting Principles, Procedures, Presentation Methods, etc., Concerning Preparation of Interim Consolidated Financial Statements (to Be
Stated as Changes in Significant Matters in the Presentation of Consolidated Interim Financial Statements):
1) Changes accompanying revisions in accounting standards: Yes
2) Other changes: No(3) Number of Outstanding Shares (Common Stock)1) Number of Outstanding Shares at Fiscal Period-End (Including Treasury Stocks)
As of Sep. 30, 2007 1,382,518,351
As of Sep. 30, 2006
2) Number of Shares of Treasury Stock at Fiscal Period-End
As of Sep. 30, 2007
1,920,032
As of Sep. 30, 2006

1,382,518,351

As of Mar. 31, 2007

1,382,518,351

1,774,519

As of Mar. 31, 2007

1,969,290(Reference) Non-Consolidated Results
１．Non-Consolidated Results for the First Half of FY2008(April 1, 2007 – September 30, 2007)* Percent figures for net sales, operating income, ordinary income, and net income express percentage change from the same period of the previous fiscalyear.
(1) Non-Consolidated Results
Revenue from operations

Operating Income

Millions of yen%

Millions of yen

1H FY2008

206,197(1.9)

1H FY2007

210,1372.7

FY2007510,190－

121,193

Income before taxes

Net Incomeand special items%

Millions of yen%

Millions of yen%

42,193 (25.7)

40,115 (20.3)

24,405

4.6

56,821

16.9

50,35721.2

23,3206.6－105,774－51,658－

EPS
Yen
1H FY2008

17.68

1H FY2007

16.99

FY200737.53(2) Non-Consolidated Financial Position
Total Assets

Net Assets

Total Equity to Total Assets

EPS

Millions of yen

Millions of yen%

Yen

As of Sep. 30, 2007

2,986,627

1,143,40638.3

828.07

As of Sep. 30, 2006

2,810,410

1,105,11939.3

800.30

As of Mar. 31, 2007

3,001,119

1,137,962

37.9

824.21(Reference) Total Equity
As of Sep. 30, 2007 ¥1,143,263million
As of Sep. 30, 2006 ¥1,105,040million* Total equity is calculated by deducting stock acquisition rights from total net assets.

As of Mar. 31, 2007 ¥1,137,882million

1. The forecasts and projected operating results contained in this report are based on information and data available to the Company at the time ofdisclosure as well as certain assumptions deemed rational. Therefore, actual performance may differ significantly from such forecasts due to variousfactors.
2. Forecasts for consolidated financial results contained in this report represent revisions to initial estimates provided on May 10, 2007.

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