Overview
Real Estate

Mitsubishi Estate Company,Limited

Mitsubishi Estate is one of Japan's largest real estate developers, engaged in the development, leasing, and management of a diverse portfolio including office buildings, commercial facilities, logistics facilities, hotels, and airports under its Commercial Real Estate segment, as well as the iconic Otemachi-Marunouchi-Yurakucho district under its Marunouchi segment. The company also operates a Residential business (condominiums and detached housing), Investment Management, and Design & Engineering / Real Estate Services segments. Its competitive strength lies in its dominant market position in the Marunouchi central business district of Tokyo and its integrated real estate platform spanning development, operation, and asset management.

Market Cap
¥4,666B
US$29.8B
EV
¥8,044B
US$51.3B
Stock¥3,878▲+2.76%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
16.1
x
LTM EV/EBIT
20.2
x
LTM PER
16.3
x
LTM PBR
1.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-5.1%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 10, 26Earnings: H1 results upside revision
MC → EV Bridge
4,666BUS$29.8BMarket Cap3,809BUS$24.3B+ Debt224BUS$1.43B− Cash399BUS$2.55B− Inv. Sec.193BUS$1.23B+ NCI8,044BUS$51.3BEV
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Performance & Balance
Revenue 5Y (¥B)
1,349US$8.61B'22/31,378US$8.79B'23/31,505US$9.60B'24/31,580US$10.1B'25/31,746US$11.1B'26/3
EBITDA 5Y (¥B)
371US$2.36B'22/3390US$2.49B'23/3377US$2.40B'24/3410US$2.62B'25/3438US$2.79B'26/3
Net Income 5Y (¥B)
155US$990M'22/3165US$1.05B'23/3168US$1.07B'24/3189US$1.21B'25/3223US$1.42B'26/3
Capital Structure
42%
58%
EquityD/E 1.40xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
533US$3.40B2,647US$16.9B'22/3531US$3.39B2,844US$18.1B'23/3708US$4.52B3,137US$20.0B'24/3612US$3.90B3,337US$21.3B'25/3707US$4.51B3,582US$22.8B'26/3
Shareholders
Top 10 hold 38.7%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
15.57%
2
Custody Bank of Japan, Ltd. (Trust Account)
6.13%
3
Meiji Yasuda Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)
3.49%
4
THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
3.05%
5
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.58%
6
JP MORGAN CHASE BANK 385642 (Standing Proxy: Mizuho Bank, Ltd.)
2.38%
7
Takenaka Corporation
1.50%
8
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.43%
9
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A.)
1.35%
10
STATE STREET BANK AND TRUST COMPANY 505301 (Standing Proxy: Mizuho Bank, Ltd.)
1.19%
Management
14 officers
Junichi YOSHIDA
Chairman of the Board and Director
Apr 1982 Joined the Company Apr 2012 Executive Officer, General Manager, Building Asset Management Department Apr 2014 Managing Executive Officer Jun 2016 Director and Managing Executive Officer Apr 2017 Director, Representative Executive Officer, President and Executive Officer Apr 2023 Chairman of the Board and Director (current)
1958-05-26
Atsushi NAKAJIMA
Director
Apr 1986 Joined the Company Apr 2015 Executive Officer and President, Rockefeller Group International Inc. Apr 2016 Executive Officer, General Manager, Americas and Europe Business Division Apr 2017 Executive Officer, General Manager, Overseas Business Planning Department Apr 2018 Managing Executive Officer Apr 2022 Representative Executive Officer, Senior Managing Executive Officer Jun 2022 Director, Representative Executive Officer, Senior Managing Executive Officer Apr 2023 Director, Representative Executive Officer, President and Executive Officer (current)
1963-08-09
Yutaro YOTSUZUKA
Director
Apr 1988 Joined the Company Apr 2017 Executive Officer, General Manager, Accounting Department Apr 2018 Group Executive Officer and President, Mitsubishi Estate Asia Co., Ltd. Apr 2020 Managing Executive Officer Apr 2023 Representative Executive Officer, Senior Managing Executive Officer Jun 2025 Director, Representative Executive Officer, Senior Managing Executive Officer Apr 2026 Director, Representative Executive Officer, Executive Vice President and Executive Officer (current) Responsibilities: Assistant to the President; Corporate Planning Department; Research and Planning Department; Sustainability Promotion Department
1965-09-08
Naoki UMEDA
Director
Apr 1988 Joined the Company Apr 2014 President, Mitsubishi Estate London Ltd. Apr 2016 President, Japan Real Estate Asset Management Co., Ltd. Apr 2018 Group Executive Officer and President, Japan Real Estate Asset Management Co., Ltd. Apr 2022 Managing Executive Officer Jun 2022 Director and Managing Executive Officer (current) Responsibilities: Accounting Department; Public Relations Department
1965-11-05
Mikito HIRAI
Director
Apr 1991 Joined the Company Apr 2017 General Manager, Nihonbashi Development Department Apr 2020 General Manager, Corporate Planning Department Apr 2022 Executive Officer, General Manager, Corporate Planning Department Apr 2023 Executive Officer Jun 2023 Director and Executive Officer Apr 2025 Director and Managing Executive Officer (current) Responsibilities: Human Resources Department; General Affairs Department; Legal and Compliance Department; Compliance, Risk Management, Disaster Prevention
1969-01-07
Yuji FUJIOKA
Director
Apr 1984 Joined the Company Apr 2016 Group Executive Officer; President, Meck Urban Resort Tohoku Co., Ltd. and President, Tohoku Royal Park Hotel Co., Ltd. Apr 2018 Managing Executive Officer Apr 2022 Representative Executive Officer, Senior Managing Executive Officer Apr 2025 Representative Executive Officer, Executive Vice President and Executive Officer Apr 2026 Executive Vice President and Executive Officer Jun 2026 Director
1961-08-10
Toru KIMURA
Director
Apr 1986 Joined the Company Apr 2016 Executive Officer, General Manager, Building Business Planning Department Apr 2018 Executive Officer, General Manager, Kansai Branch Apr 2020 Managing Executive Officer Jun 2025 Director (current)
1963-02-08
Takeshi OKAMOTO
Director
Apr 1970 Joined Tokyo Gas Co., Ltd. Apr 2010 President and Representative Executive Officer, Tokyo Gas Co., Ltd. Apr 2014 Chairman of the Board, Tokyo Gas Co., Ltd. Apr 2018 Director and Senior Advisor, Tokyo Gas Co., Ltd. Jul 2018 Senior Advisor, Tokyo Gas Co., Ltd. Jun 2019 Director of the Company (current) Jun 2023 Honorary Advisor, Tokyo Gas Co., Ltd. (current)
1947-09-23
Melanie BROCK
Director
Mar 2003 Established AGENDA Co., Ltd. (now Melanie Brock Advisory Co., Ltd.); Representative Director (current) Mar 2010 Board Member, Australia-Japan Foundation Oct 2010 Japan Representative, Australian Meat and Livestock Corporation Dec 2012 Chairman, Australian Business Asia Nov 2016 Honorary Chairperson, Australia-New Zealand Chamber of Commerce in Japan (current) Jul 2018 Business Sydney Ambassador, New South Wales, Australia (current) Jul 2019 Board Member, Australia-Japan Research Centre (current) Oct 2019 Advance Global Australian Ambassador (current) Jun 2022 Director of the Company (current)
1964-04-10
Wataru SUEYOSHI
Director
Apr 1983 Admitted as attorney-at-law; joined Mori Sogo (now Mori Hamada & Matsumoto) Apr 2007 Established Suevoshi Sogo Law Office (now Shiomizaka Sogo Law Office), Partner Jul 2014 Member, Subcommittee on Copyright, Council for Cultural Affairs, Ministry of Education, Culture, Sports, Science and Technology Jan 2020 Established KTS Law Office, Partner (current) Jun 2023 Director of the Company (current)
1956-10-11
Ayako SONODA
Director
Aug 1988 Established Crean Co., Ltd.; Representative Director Oct 2003 Secretary General, Sustainability Japan Forum (NPO) Jun 2004 Director, Japan Sustainable Investment Forum (NPO) (current) Feb 2017 Representative Director, Mirai RITA General Incorporated Foundation (current) Feb 2023 Director, Sustainability Japan Forum (NPO) (current) Jun 2023 Director of the Company (current) Aug 2023 Representative Director and Chairperson, Crean Co., Ltd. (current)
1963-08-28
Naosuke ODA
Director
Apr 1977 Joined Nippon Kokan K.K. (now JFE Steel Corporation) Apr 2012 Representative Director and Executive Vice President, JFE Steel Corporation Apr 2016 President and Representative Director, JFE Shoji Trading Corporation Jun 2017 President and Representative Director, JFE Shoji Trading Corporation; Director, JFE Holdings, Inc. Apr 2021 Special Advisor, JFE Shoji Trading Corporation Apr 2023 Associate, JFE Shoji Trading Corporation (current) Jun 2024 Director of the Company (current)
1953-06-03
Hajime WATANABE
Director
Apr 1981 Joined Development Bank of Japan (now Development Bank of Japan Inc.) Jun 2018 President and Representative Director, Development Bank of Japan Inc. Jun 2022 Adviser, Development Bank of Japan Inc. Apr 2023 Part-time Adviser, Development Bank of Japan Inc. Apr 2023 Chairman and Representative Director, Nihon Keizai Kenkyusho, Ltd. (current) Jun 2026 Director of the Company
1958-10-31
Yuri OKINA
Director
Apr 1984 Joined Bank of Japan Apr 1992 Joined Japan Research Institute, Limited Jun 2014 Vice Chairperson, Japan Research Institute, Limited Apr 2018 Chairperson, Japan Research Institute, Limited Dec 2025 Specially Appointed Professor, Graduate School of Social Data Science, Hitotsubashi University (current) Jun 2026 Director of the Company
1960-03-25
Large Shareholding Reports
Nomura Asset Management Co., Ltd.
2026-01-08
4.45%
Sumitomo Mitsui Trust Asset Management Co., Ltd.
2025-09-19
3.31%→2.47%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-24
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-09
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-01-08
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-29
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
EDINET
2020-01-24
中期経営計画
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