PRESS RELEASE

Mori Trust Holdings

Financial Report for the Fiscal Year Ended March 2007
～ Revenue and ordinary income both set new record highs. Profit growth achieved for thirteenth consecutive years.～

May 24, 2007
The Mori Trust Group recently announced its consolidated business performance for the year
ended March 2007. The Group consists of 20 consolidated companies and six equity-method
affiliates, and includes Mori Trust Holdings Inc., Mori Trust Co., Ltd., and Mori Kanko Trust Co.,
Ltd.

[Mori Trust Group Consolidated Financial Report] (April 1, 2006 – March 31, 2007)(Figures in millions of yen; figures less than one million yen rounded off; percentages in parentheses indicate year-over-yearchange)FY 2005

FY 2006

FY 2007 (projected)

1 Revenue from operations

147,866

161,938（9.5%）

162,000（0.0%）

Lease-related income

61,06064,683（5.9%）

65,000（0.5%）

Hotel-related income

30,50334,527（13.2%）

26,000（▲24.7%）

Income from real estate sales

43,27044,693

（3.3%）

53,000（18.6%）

Other income

13,032

18,033（38.4%）

18,000（▲0.2%）

2 Operating income

39,35840,891（3.9%）

54,000（32.1%）

3 Ordinary income

41,54445,466（9.4%）

54,000（18.8%）

4 Net income

18,332

20,478（11.7%）

30,000（46.5%）(interior construction in leased spaces, etc.)○Consolidated Companies (20companies)(*:Companies added to consolidation)

Mori Trust Holdings Inc., Mori Trust Co., Ltd., MT Facility Service Co., Ltd., Mori Kanko Trust Co.,
Ltd., Mampei Hotel, MT&Hilton Hotel Co., Ltd., MT Golf Development Co., Ltd. Universal Express
Co., Ltd., FORETSEINE Co., Ltd., Toyo Housing Management, Inc., Urban Life Co., Ltd., Urban
Life Jyutakuhanbai Co., Ltd., LIZ INVESTMENT Co., Ltd., MT Labo Co., Ltd., MT Genex Corp.,
Nippon Intelligent-Building Systems Corporation, MORI TRUST Asset Management Co., Ltd.,
Shiroyama Heating & Cooling Supply Co., Ltd., Ohno Kogyo Co., Ltd., Azmax Corp.
○Equity-Method Affiliates (6 companies)(*:Equity-method affiliates added)

PARCO CO., LTD., THE ROYAL HOTEL, LIMITED, YOKOHAMA GRAND
INTERCONTINENTAL HOTEL Co., Ltd., MORI TRUST Sogo Reit, Inc., URBAN SERVICE Co.,
Ltd., Morikiyo Co., Ltd.
(As of March 31, 2007)< Next page: Overview of FY 2006 business performance >-1-

Overview of FY 2006 business performance○Operating revenues and ordinary income both increased. Operating revenues registered a record
high of ¥161.9 billion, an increase of 9.5% over the ¥147.8 billion stated the previous year. Ordinary
income increased for the thirteenth consecutive year since fiscal 1994, growing 9.4% from theprevious year to ¥45.4 billion, a record high.
○For the portion of sales accounted for by leasing revenues, the confluence of several factors,

including booming demand in central Tokyo and the development of a number of Mori Trust
rental office buildings, chiefly in central Tokyo, led to higher revenue from falling vacancy
rates and rising rents in existing buildings. (These Mori Trust rental office properties are theTokyo Shiodome Building, Shiroyama Trust Tower, Marunouchi Trust Tower North, Akasaka
Twin Towers, etc.) Although this fiscal year did see some revenue declines due to factors suchas the start of demolition on the Kyobashi MT Building (to be replaced by a new building),
revenue growth from rents on existing buildings helped expand leasing revenues by 5.9% overthe previous fiscal year to 64.6 billion yen.
○This marked the first full fiscal year of operations for the Conrad Tokyo, which opened in July

2005. Combined with the steady performance of the group’s other hotel businesses (MoriKanko Trust, Mampei Hotel, and InterContinental The Grand Yokohama), the Conrad Tokyo
helped increase hotel revenues to 34.5 billion yen, a 13.2% gain over the previous fiscal year.
○Factors including the sale of the Akasaka Mitsuke MT Building, which had been owned byMori Trust, as well as revenues from sale of units in FORETSEINE’s luxury Foretseine Azabu
Nagasaka condominium project and revenues from sale of Urban Life units, led to an increase
in revenues from real-estate sales to 44.6 billion yen, 3.3% higher the previous fiscal year.
○The addition of subsidiaries to consolidation increased other revenues to 18 billion yen, a

38.4% gain over the previous fiscal year.
○Increased operating income from higher sales was a major factor in increased ordinary income.

Factors including revenues from sale of securities in the investment business contributed to anincrease of 9.4% (to 45.4 billion yen) over the previous fiscal year.

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Business performance projections for FY 2007

○The Company forecasts operating revenues for the year ending March 2008 at approximately ¥162
billion.
○For sales accounted for by leasing revenues, although certain factors such as the sale of the

Shiroyama MT Building and the Shinbashi MS Building 1 and the expiration of the rental
contract on the Toranomon 17 Mori Building are projected to reduce revenue, rental income on
existing properties is projected to rise, given continuing strength in the central Tokyo officemarket. Lease revenues are projected to total some 65 billion yen.
○While the Laforet Club resorts, Mampei Hotel, and Conrad Tokyo are projected to maintaintheir strong performance, the switch beginning this fiscal year of InterContinental The Grand
Yokohama from a consolidated subsidiary to an equity-method affiliate is projected to reduce
hotel revenues by approximately 8.5 billion yen to 26 billion yen.
○In addition to the sale of Mori Trust’s Shiroyama MT Building, construction is scheduled to

wrap up this fiscal year on a number of luxury condominium properties, including
FORETSEINE’s Foretseine Ikedayama-Koen and Urban Life’s The Urban Life Okamoto and
Urban Life Midosuji Honmachi Tower. These events are expected to drive up revenue fromreal-estate sales to 53 billion yen, a gain of approximately 8.3 billion yen.
○The total for other revenue sources is projected to remain at 18 billion yen, largely unchanged

from the current fiscal year.
○ Strong lease revenues and revenues from real-estate sales are projected to contribute to

growth in operating income of approximately 13.1 billion yen, to 54 billion yen. This increase inoperating income is also projected to lead to increases in ordinary income and net income.

-3-

FY 2006 key business topics○Restructuring of Mori Kanko Trust

In April 2006, Mori Kanko Trust was split into Mori Kanko Trust Asset Management Co., Ltd.,an assets holding company, and the new Mori Kanko Trust Co., Ltd., which manages hotels
and golf courses. The split is part of efforts to strengthen the operations of the previous Mori
Kanko Trust, which operated the members-only Laforet Club resorts. The new Mori Kanko
Trust was made a subsidiary of Mori Kanko Trust Asset Management.
In October 2006, as part of efforts to strengthen the Mori Trust Group’s hotel and resort
businesses, Mori Trust merged with Mori Kanko Trust Asset Management, with Mori Kanko
Trust becoming a wholly-owned subsidiary of Mori Trust.
○MT Labo establishedIn April 2006, a new company called MT Labo Co., Ltd. was established to handle operations
such as advisory services on mergers and acquisitions, real-estate securitization, managementofinvestment

funds,

andsupportforregional

financial

institutions

in

their

investment-banking services. This founding of the new company is part of the Mori TrustGroup’s efforts to strengthen its investment operations.
○Capital and business partnership with Rihga Royal Hotels

In April 2006, Mori Trust concluded an agreement on a capital and business partnership with
Rihga Royal Hotels. This partnership of a comprehensive developer and a hotel company isintended to create new business models in the hotel industry, which is facing a period oftransformation.
Based on this agreement on a capital and business partnership concluded in April, Mori Trustin July 2006 underwrote 41,100,000 shares in Rihga Royal Hotels (40.01% of Rihga Royal
Hotels’ total of 102,716,515 shares, including shares issued and outstanding) in a capitalfunding increase implemented by Rihga Royal Hotels through third-party allocation of shares,
making Mori Trust the largest stockholder in Rihga Royal Hotels.
In January 2007, Laforet Club and Rihga Royal Hotels Group announced details of apartnership in the areas of marketing, human resources, and purchasing as part of efforts tocreate synergies between Mori Trust Group’s hotels and the Rihga Royal Hotels Group.
○Changes in the-real estate portfolio

In May 2006, Mori Trust acquired from Mori Trust Sogo REIT, Inc. the Ochanomizu Central
Building (formerly known as the Hitachi headquarters building). Mori Trust plans to build a
new building on the site of the current building. Mori Trust also transferred ownership of the
Akasaka Mitsuke MT Building to Mori Trust Sogo REIT.

-4-

In August 2006, Mori Trust began demolition of the Kyobashi MT Building (formerly known as
the Chugai Pharmaceutical headquarters building). Mori Trust plans to use the site for a
multipurpose redevelopment project.
○Organizational restructuring of Mori Trust

In August 2006, the Mori Trust Group announced its deployment of a multifaceted groupmanagement system addressing its entire spectrum of operations, from its traditional
real-estate business through broad-ranging lines of operations that provide value to urban
communities. It considers this its third stage of company development, following its founding
stage and its growth stage. As a first step in these efforts, it reorganized the Mori Trustorganization into a structure based on the three cornerstones of real estate, hotels and resorts,
and investment businesses.
○Shangri-La Hotel Tokyo selected as tenant in Marunouchi Trust Tower Main Building

At the Yaesu Entrance to Tokyo Station, Mori Trust is currently developing the Marunouchi
Trust Tower Main Building, a project intended to be an international business and tourism
facility serving as the face of Japan’s capital city.
As part of this project, Shangri-La Hotel Tokyo, an international luxury hotel chain
symbolizing the Asia-Pacific region and regarded highly for its combination of refinedWestern-style service with Eastern hospitality, was selected in August 2006 as a building
tenant. The Shangri-La Hotel Tokyo is slated to open at the start of 2009.
○Changes in the asset portfolio of the investment businessIn 2007, in connection with a review of the asset portfolio of its investment business, Mori
Trust sold shares of stock owned in Fujita Kanko in January and shares of stock owned in Loftin March.
○Strengthening operations of the InterContinental The Grand Yokohama

In February 2007, Mori Trust decided to manage the InterContinental The Grand Yokohama, ahotel in the Yokohama area beloved as a symbol of the city, jointly with the Ishin Hotels Group.
This decision is intended to establish a management structure capable of providing even more
attractive services. As part of this decision, Mori Trust transferred 241,550 shares in
Yokohama Grand InterContinental Hotel Co., Ltd. (39.34% of total shares issued andoutstanding) to the Ishin Hotels Group.
○Changes in consolidated subsidiaries

In March 2007, Mori Trust acquired 4,240,910 shares of stock in its consolidated subsidiary
Azmax Corp. (66.26% of total shares issued and outstanding), the previous largest shareholderof which was Ohno Kogyo to restructure and strengthen Mori Trust’s capital relationship with
its subsidiaries.

-5-

FY 2007 key business topics○Changes in the-real estate portfolio

As part of a review of its real-estate portfolio, Mori Trust in April 2007 sold the Shiroyama MT
Building and Shinbashi MS Building 1.
○Urban Life to start construction on a high-rise condominium tower

In July 2007, Urban Life plans to begin construction on the Kobe Chuo-ku Kanocho Project(provisional name). The project will offer a total of 271 units in a structure rising 34 stories
above Kanocho, Chuo-ku, Kobe, in Hyogo Prefecture.
○Hotel Sunroute Plaza Shinjuku opening

Plans call for the Hotel Sunroute Plaza Shinjuku to open in September 2007. The project is a
joint effort involving Mori Trust and JTB Estate.
* Projections of business performance found in this document are based on judgments

reflecting information available as of the date this document was released. Actual businessperformance may vary due to various unanticipated factors.

-6-

〈Reference〉

Overview of real-estate projects○ Multipurpose Redevelopment Project■ Marunouchi Trust Tower Main (Project) / North
Address
Site Area
Total floor area
Total floor space
available for lease
Total floor area
Number of floors
Primary use
Building completion
Hotel tenant
Total floor area
Number of floors
Guest room
Facilities
Starting date

8 Marunouchi 1-chome, Chiyodaku,Tokyo
Approx. 12,027㎡
Approx. 180,000㎡
Approx. 88,000㎡
Main(Project)
North
Approx. 115,000㎡
Approx. 65,095.26㎡
37 stories above
19 stories above
ground, 4 stories
ground, 3 stories
below groundbelow groundoffice, hotel, retail,office(3-19F)
tourist information
retail(1-2F)
centerNovember 2008
September 2003
(scheduled)Shangri-La Hotel Tokyo
Approx. 26,400㎡
27-37F
204rooms (180 standard rooms of Approx.
50㎡ wide and 24 suites)
Restaurants, Spa(CHI), Grand Ball Room,
Wedding Chapel
The bigining of 2009(scheduled)■ Sendai Ichibancho Project
Address
Site area

Ichibancho 1-chome, Aoba-ku, sendai-city
Approx. 13,500㎡ (Since the residential
properties are part of a separate project,approximately 3,100㎡ of the development
site is not included in the above figure.)
Total floor area
Approx. 123,500㎡
Total floor space available for lease Approx. 49,500㎡
37 stories above ground, 2 stories below groundNumber of floors
Altitude of building
Approx. 180m
Primary use
office, hotel, retail
Car park
Approx. 500 units
Construction to commence During fiscal 2007(scheduled)
Schedule for completion During fiscal 2010(scheduled)
Concept of the project A new landmark tower for the Tohoku region;
A premium urban development fusing adiverse range of urban functions
Floor structure of
Office：1F Entrance
office, retail, and
4-24F Office
hotel wing
(Rental space for standard floor for office
Approx. 2,300㎡. Total space available
for lease Approx. 50,000㎡）
Hotel：1-3F Entrance, Banquet hall,Chapel,
25-26F Lobby, Lounge,
Restaurants, Banquet hall, etc.
28-36F Guest rooms
37F Restaurant
Retail：1-3F
The above floor structure is based on plans asof the date this document was released.
It is subject to change.
Note: As of May 2007, business plans, operators, schedules, and other details of the residential portion of thisproject had yet to be announced. The residential project—based on the same development themes as theoffice, retail, and hotel wing—will involve a luxury condominium tower (with a total of approximately 200
residential units) matching well with the rest of the project. A wide range of possibilities is currently being
considered for this project.

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○ Properties for which plan call for replacement with New Project■ Ochanomizu Central Building
Address
Site area
Total floor area
Number of floors
Building completion

4 Kanda-Surugadai, Chiyoda-ku,Tokyo
9,540.58㎡
57,254.61㎡
20 stories above ground, 3 stories below ground
March 1983

○ Properties Sold
■ Akasaka-Mitsuke MT building
Address
Site area
Total floor area
Number of floors
Building completion

Moto-Akasaka 1-chome, Minato-ku, Tokyo
2,194.38㎡
17,171.15㎡
12 stories above ground, 2 stories below groundFebrary 1975

■ Shiroyama MT Building
Address
Site area
Total floor area
Number of floors
Building completion

4 Toranomon, Minato-ku, Tokyo
2,258.20㎡
16,765.10㎡
12 stories above ground, 2 stories below ground
November 2001

■ Shinbashi MS Building(present name: Shinbashi Ekimae MTR Building)
Address
Site area
Total floor area
Number of floors
Building completion

2 Shinbashi, Minato-ku,Tokyo
1,069.88㎡
7,820.45㎡
8 stories above ground, 2 stories below ground
April 1999

-8-

○ Condominium Residences
Foretseine Co., Ltd.
■ Foretseine AzabuNagasaka Project
Address
Azabunagasakacho, Minato-ku, Tokyo
Site area
1,480.59㎡
Total floor area
2,969.93㎡
Number of floors
5 stories above ground, 1 stories below groundTotal number of units 13 units
Building completion September 2006

■ Foretseine Ikedayama-Koen Project
Address
1 Kamiosaki, Shinagawa-ku, Tokyo
Site area
1,131.18㎡
Total floor area
3,394.68㎡
Number of floors
4 stories above ground, 1 stories below groundTotal number of units 17 units
Building completion December 2007(scheduled)

Urban Life Co., Ltd.
■ The Urban Life Okamoto
Address
5 Okamoto Higashi Nada-ku, Kobe-city
Site area
1,378.05㎡
Total floor area
2,068.05㎡
Number of floors
3 stories above ground, 1 stories below groundTotal number of units 10 units
Building completion June 2007(scheduled)■ Urban Life Midosuji Honmachi Tower
Address
3 Minamihoncho, Chuo-ku, Osaka-city
Site area
893.97㎡
Total floor area
12,266.87㎡
Number of floors
33 stories above groundTotal number of units 115 units
Building completion March 2007

■ Kobe Chuo-ku Kanocho Project(provisional name)
Address
6 Kanocho, Chuo-ku, Kobe-city
Site area
4,098.49㎡
Total floor area
37,326.06㎡
Number of floors
34 stories above ground, 1 stories below groundTotal number of units 271 units
Building completion December 2009（scheduled）-9-

Overview of Hotels & Resorts business■The Laforet Hotels and Resorts
Name of Hotel
Laforet Shuzenji
Laforet Shuzenji & Country club
Laforet Gora
Laforet Ito
Laforet Yamanakako
Laforet Nasu
Laforet Shirakawa Golf course
Laforet Zao Resort & Spa
Laforet Club Hotel Nakakaruizawa
Laforet Club Hotel Hakubahappo
Laforet Biwako
Laforet Nankishirahama
Hotel Laforet Tokyo
Hotel Laforet Shin-Osaka
Laforet ＆ Matsuo Golf Club

Address
Izu-shi, Shizuoka
Hakone-machi, Ashigarashimo-gun, Kanagawa
Ito-shi, Shizuoka
Yamanakako-mura, Minamitsuru-gun, Yamanashi
Nasu-machi, Nasu-gun, Tochigi
Izumizaki-mura, Nishi-Shirakawa-gun, Fukushima
Zao-machi, Katta-gun, Miyagi
Karuizawa-machi, Kita-Saku-gun, Nagano
Hakuba-mura, Kita-Azumi-gun, Nagano
Moriyama-shi, Shiga
Nishi-Muro-gun, Wakayama
Shinagawa-ku, Tokyo
Yodogawa-ku, Osaka-shi, Osaka
Matsuo-machi, Sammu-shi, Chiba

Guest Room, etc.
296 Rooms
18 Holls
34 Rooms
84 Rooms
104 Rooms
120 Rooms
18 Holls 48 Rooms
197 Rooms
84 Rooms
45 Rooms
272 Rooms
182 Rooms
248 Rooms
332 Rooms
18 Holls■ Mampei Hotel
Address
Guest Room
Facilities
Starting Date

Karuizawa-cho, Kitasaku-gun, Nagano
88 Rooms
Restaurants, Function Rooms, Shop, etc.
1894

Address
Guest Room
Facilities

1 Higashi-shinbashi, Minato-ku Tokyo
290 Rooms（including 68 suites）
Restaurants, Spa, Fitness, Banquet Halls,
Wedding Chapel etc.
2005

■ CONRAD TOKYO

Starting Date

■ RIHGA ROYAL HOTELS■RIHGA ROYAL HOTELSName of Hotel
RIHGA ROYAL HOTEL (Osaka)
RIHGA ROYAL HOTEL Tokyo
RIHGA ROYAL HOTEL Kyoto
RIHGA ROYAL HOTEL Hiroshima
RIHGA ROYAL HOTEL Kokura
RIHGA ROYAL HOTEL Niihama
RIHGA Grand Hotel
RIHGA Nakanoshima Inn
RIHGA ROYAL HOTEL Sakai
Kuroyon Royal Hotel

Address
Kita-ku, Osaka
Shinjuku-ku, Tokyo
Shimogyo-ku, Kyoto
Naka-ku, Hiroshima
Kokurakita-ku, kitakyushu-shi, Fukuoka
Niihama-shi, Ehime
Kita-ku, Osaka
Nishi-ku, Osaka
Sakai-shi, Osaka
Omachi-shi, Nagano

Guest Room974 Rooms
127 Rooms
494 Rooms
490 Rooms
295 Rooms
94 Rooms
310 Rooms
340 Rooms
241 Rooms
73 Rooms■Associates Hotel
RIHGA Hotel Zest Takamatsu

Takamatsu-shi, Kagawa

122 Rooms■ InterContinetal Yokohama Grand
Address
Guest Room
Facilities
Starting Date

Minato Mirai, Nishi-ku, Yokohama-shi,Kanagawa
600 Rooms
Restaurants, Spa, Fitness, Exthetic Salon
Banquet Halls, Wedding Chapel, etc.
1991

[Latest Hotel Project]■ Shangri-La Hotel Tokyo■ SENDAI ICHIBANCHO PROJECT : Hotel plans

Address

8 Marunouchi 1-chome,
Chiyoda-ku, Tokyo
Guest Room 204 Rooms
Facilities
Restaurants, Spa,
Grand Ball Room,
Wedding Chapel
Starting Date the bigining of 2009(scheduled)*image Perspective

Address

Ichibancho 1-chome,
Aoba-ku, Sendai
Facilities
Restaurants, Lounge,
Banquet Hall,
Wedding Chapel, etc.
Starting Date During fiscal 2010

*image Perspective- 10 -

Overview of investment operations○MT Labo establishedEstablished as part of the Mori Trust Group’s investment business, MT Labo seeks to provide
services to all businesses providing broad-ranging value to urban environments. Its
carefully selected personnel, offering high levels of specialized financial expertise andpractical financial experience, provide a wide range of financial services to businesses
and high-income individuals.
Address

Akasaka Twin Tower Main Tower, 2F 2-17-22, Akasaka,
Minato-ku, Tokyo

Established

April 3, 2006

Capital

300 million

Chair

Akira Mori

President

Masaki Murata

Business

Advisory services on mergers and acquisitions, real-estate

Outlinesecuritization, management of investment funds, andsupporting regional financial institutions in theirinvestment-banking services○Capital and business partnership with Rihga Royal Hotels
Mori Trust has begun a capital and business partnership with Rihga Royal Hotels. The goalof this partnership is to create new business models for the future of the hotel industry,
which finds itself in a period of transformation, through cooperation between acomprehensive developer and a hotel company. This partnership will jointly proceed to
examine a wide range of operations, including the creation of synergies with Mori TrustGroup hotels and urban value through efforts including redevelopment in the Nakanoshima
area of Osaka. With the investment business serving as a starting point, this projectsymbolizes the Mori Trust Group’s matrix management structure and multifaceted groupmanagement system and promises synergistic effects when combined with the hotel andresort and real estate operations and other members of the Mori Trust Group of companies.
＜Background for this capital and business partnership agreement＞
March 31, 2006

Basic agreement on capital and business partnership concluded

April 28, 2006

Capital and business partnership agreement concluded

July 7, 2006

Mori Trust underwrites Rihga Royal Hotels capital increase throughthird-party allocation of shares, becoming the latter’s largest
stockholder

January 30, 2007

Laforet Club and Rihga Royal Hotels Group announce details of theirpartnership- 11 -

○Investment in GV-I and GV-II venture-capital funds
As part of its investment business, Mori Trust invests in the GV-I and GV-II venture-capitalfunds, intended to nurture future industries. Through a partnership with the Global Brainconsulting firm, these funds will also provide management consulting services to the companies
in which they invest. Three ventures funded by GV-I have already gone public.
ＧＶ-Ⅰ

ＧＶ-Ⅱ

PeriodApril 2001 to April 2008

May 2007 to May 2014

Amount invested

1 billion yen

2 billion yen

Managed by:

Global Brain Corporation- 12 -

Mori Trust Group: Total floor area leased or managed○Leased or managed facilities (as of March 2007)○Leased buildings:

Approx. 1,240,000 ㎡ (51 buildings)○Hotels:

16 hotels (Approx. 3,025 guest rooms)(Laforet Clubs in 13 locations, Mampei Hotel, Yokohama GrandInterContinental Hotel, Conrad Tokyo)
Total floor area

- 13 -

Approx. 1,520,000 ㎡

Mori Trust Group: summary of consolidated companies
Mori Trust Holdings Inc.

Mori Trust Co., Ltd.

Location
Representatives
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Akira Mori, Aiko Negishi
August 1951
1.0 billion yen
・Shareholder in group companies

Toranomon, Minato-ku, Tokyo
Akira Mori
June 1970
10 billion yen
・Urban development
・Property ownership, leasing

MT Facility Service Co., Ltd.

Mori Kanko Trust Co., Ltd.

Location
Chair
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Akira Mori
Kuniyoshi Murakami
April 2002
100 million yen
・Agents for building owners
・Building operation management, design,and subcontracting

Location
Chair
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Yasuharu Sato
Kazuyasu Abe
1894
502.97 million yen
・Ownership and operation of the Mampei Hotel

Location
President
Established
CapitalBusiness sectors

Mampei Hotel
Location
Chair
General Manager
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Akira Mori
Hiroshi Shimamoto
February 1973
2 billion yen
・Managing the Laforet Club members-only hotels andother properties under contract, managing hotels
and golf resorts, etc.

MT&Hilton Hotel Co., Ltd.
Toranomon, Minato-ku, Tokyo
Kazuoki Sone
October 2004
20 million yen
・Operation of the Conrad Tokyo

MT Golf Development Inc.

Universal Express Co., Ltd.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Hiroshi Shimamoto
November 2004
100 million yen
・Ownership and management of Laforet &Matsuo Golf Club

Nihonbashihoncho, Chuo-ku, Tokyo
Yoshinobu Ikeda
May 1970
55 million yen
・Sales and planning for domestic
and overseas organized travel

Foretseine Co., Ltd

Toyo Housing Management Inc.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Nobuo Konomi
August 2001
550 million yen
・Urban residential planning and development

Roppongi, Minato-ku, Tokyo
Nobuo Konomi
November 1979
10 million yen
・Leasing management and operations of real estate

Urban Life Co., Ltd.

Urban Life Jyutakuhanbai Co., Ltd.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Minamisenba, Chuo-ku, Osaka-shi, Osaka
Yoshio Ko
July 1970
3 billion yen
・Development, planning, and sales of condominiums,
office buildings and stores

Minamisenba, Chuo-ku, Osaka-shi, Osaka
Kenkichi Takatsu
July 1982
300 million yen
・Planning and sales of condominiums,brokerage of
dealing, leasing and operations of real estate

LIZ INVETSTMENT Co., Ltd.

MT Labo Co., Ltd.

Location
Representative
Established
CapitalBusiness sectors

Marunouchi, Chiyoda-ku, Tokyo
Shinji Arakawa
July 2005
3 million yen
・Ownership and leasing of commercial buildings

Location
Chair
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Hirokazu Takahashi
October 1945
Approx. 1.072 billion yen
・ Manufacture and sale of exterior products, etc.

Location
Chair
Established
CapitalBusiness sectors

MT Genex Corp.
Location
President
Established
CapitalBusiness sectors

Akasaka, Minato-ku, Tokyo
Akira Mori
Masaki Murata
April 2006
300 million yen
・Investment banking services

Nippon Intelligent-Building Systems Corporation
Toranomon, Minato-ku, Tokyo
Akira Mori
May 1986
150 million yen
・Building operations/management
・General consulting

Mori Trust Asset Management Co., Ltd.

Shiroyama Heating & Cooling Supply Co., Ltd.

Location
President
Established
CapitalBusiness sectors

Location
President
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Satoshi Horino
February 2000
400 million yen
・Operation of real estate investment trusts

Ohno Kogyo Co., Ltd.
Kyobashi, Chuo-ku, Tokyo

Location
Chair
Established
CapitalBusiness sectors

Toranomon, Minato-ku, Tokyo
Akira Mori
November 1989
300 million yen
・Local heating and cooling services
in the Shiroyama garden and surrounding district

Azmax Corp.

Akira Mori
August, 1937
50 million yen
・Leasing management and operation of real estate,and steel operation

Location
President
Established
CapitalBusiness sectors- 14 -

Kyobashi, Chuo-ku, Tokyo
Michinobu Mizobe
August, 1947
499 million yen
・Manufacturing and sales of steel products

Mori Trust Group: summary of equity-method affiliates
THE ROYAL HOTEL, LIMITED

Parco Co., Ltd.
Location
Minamiikebukuro, Toshima-ku, Tokyo
EstablishedFebruary 1953
Business sectors ・Development, operation, consulting,and property management for shopping centers, etc.

kita-ku, Osaka-shi, Osaka
Location
March 1932
Established
Business sectors ・Hotel management centered on lodgment,
banquet and restaurant, and hotel
incidental businessYokohama Grand InterContinental Hotel Co., Ltd.

Mori Trust Sogo REIT, Inc.

Location
Minato Mirai, Nishi-ku, Yokohama-shi, Kanagawa
EstablishedMay 1988
Business sectors ・Operation ofInterContinental the Grand Yokohama

Location
Toranomon, Minato-ku, Tokyo
Established
October 2001
Business sectors ・Investment in real estate and asset-backed
securities investing primarily in real estate

URBAN SERVICE Co., Ltd.

Morikiyo Co., Ltd.

Location
Minamisenba, Chuo-ku, Osaka-shi, Osaka
Established
April 1979
Business sectors ・General management of condominiums
and other buildings, etc.

Location
Roppongi, Minato-ku, Tokyo
EstablishedMay 1955
Business sectors ・One of the holding companies (40%)
for Mori Building Co., Ltd.

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