The Mitsui Fudosan Group’s main business activities are implemented through its leasing business, property sales business, management business, and facility operations business. In line with this structure, we have adopted the five accounting segments of Leasing, Property Sales, Management, Facility Operations, and Other from fiscal 2023. Furthermore, revenues and profits generated by individual projects are classified into these segments and can be allocated to a single segment or multiple segments.
Fiscal 2024 Results
Note: The categories shown here are to give an idea of the segments for recording revenues and profits, however, the actual details might differ.
As a Group of leading comprehensive real estate companies in Japan, the Mitsui Fudosan Group is developing a real estate business based on diverse asset classes.
Major Asset Classes
Asset Classes by Type
Global Expansion
Extending beyond Japan, the Mitsui Fudosan Group is also expanding its business overseas through the careful selection of asset classes matched to such factors as the economic circumstances and urban conditions
of the areas it enters.
The Company’s Overseas Assets
Assets by Area
Office
Market Environment
Risks
Increases in such expenditures as construction, operating, and maintenance costs
Impacts on project schedules due to labor shortages, etc.
Opportunities
Heightened mindset toward human capital management
Need for high-specification office buildings aimed at improving work engagement and attracting talent
Diversification of times, places, etc. for working associated with changes in working styles
Expansion of corporate initiatives to achieve carbon neutrality
Competitive Advantages
Medium- to long-term relationships with about 3,000tenants*1
WORK STYLING members: Approx. 320,000*2 Number of office locations: 582 (nationwide)*2(WORKSTYLING 103; Partnership with STATION WORK 479)
Mixed-use type neighborhood creation know-how that goes beyond offices
Diverse intangible services that contribute to solving tenant management issues
Achievement of integrated safety and security that spans from development to operational administration under Group management, and disaster-resistant neighborhood creation
*1 As of the end of March 2024
*2 As of the end of July 2024
Business Strategies
Realize added-value in response to mounting needs for offices and neighborhoods that people want to visit.
Differentiate entire cities by promoting the creation of mixed-use neighborhoods.
Strengthen solution proposals and service menus tailored to tenant companies; provide optimal workstyles for each customer by increasing workplace options.
Mitsui Shopping Park members: Approx. 14.25 million*
Customer contact points that combine digital and real facilities, such as the MSP app and &mall official online shopping site
* As of April 1, 2025
Business Strategies
Build a one-of-a-kind omni-channel platform that combines various services, including retail facilities, sports and entertainment, and e-commerce; create new experiential value by customer.
Leverage relationships cultivated to date through business activities and provide services to resolve business issues for retail tenants and business partners.
Work to evolve from a retail facility developer to a commercial service platform provider; diversify revenue sources and innovate business models by providing a wide range of value.
Intensification of competition for land acquisition due to entry of new players
Overheating of leasing competition due to high-volume supply of new properties
Increases in such expenditures as construction, operating, and maintenance costs
Opportunities
Increased efficiency and consolidation of the logistics function in response to relocation needs from aging warehouses and growth in the e-commerce market
Increased labor saving and the growing need for mechanization through DX against the backdrop of labor shortages
Competitive Advantages
Track record of advanced logistics facility development extending to 78 properties*1 in Japan and overseas
Close tenant relationships that enable provision of CRE solutions and direct sales to cargo owners
(Office tenants: Approx. 3,000*2, Retail tenants: Approx. 2,500*3, etc.)
Ability to propose logistics solutions that leverage DX
Diverse collaborations and business methods, including joint ventures with originators
MFLP quality that achieves industry-leading customer satisfaction
*1 As of the end of July 2025 *2 As of the end of March 2025 *3 As of April 1, 2025
Business Strategies
Further evolve as an industrial platformer by strengthening collaboration with tangential companies and building a community including client companies.
Contribute not only to solving issues within logistics warehouses, but also across the entire supply chain by diversifying the MFLP and MFIP brands, putting forward various solution proposals, including consulting, and addressing GX.
Contraction of domestic housing-related market due to population decline
Decline in housing-related demand due to rising interest rates and worsening business sentiment
Soaring housing prices due to rising construction costs, etc.
Opportunities
Heightened awareness concerning housing associated with diversification of customers’ lifestyles
Increased use of customer sales approaches (online business negotiations, AI-use, etc.) and product planning (select housing, etc.) that emphasize cost performance and time performance
Focusing on environment-friendly product planning to realize a decarbonized society
Focusing on the stock market due to a decrease in the number of new properties and aging buildings
Competitive Advantages
Condominium unit sales: Approx. 250,000*1
Mitsui Housing Loop members: Approx. 380,000*2
Brand power asNo.1 in brokered deals for 39 consecutive years
A lineup of varied products and services related to housing (Leasing/sales, new/used, condominiums/detached houses, senior
residences, management/operation/brokerage, etc.)
Planning and development capabilities for realizing a product lineup of city center, large-scale, and redevelopment
*1 As of the end of March 2025 *2 As of the end of July 2025
Business Strategies
Strengthen the ability to make proposals to customers through the integrated management of customer data and enhance collaboration among Group companies.
Provide one-stop service for every customer need.
Strengthen efforts to meet the needs of affluent and foreign customers; expand points of customer contact by enhancing lifestyle-oriented products and services.
Impacts of geopolitical risks on international and domestic travelers
Increase in operating costs due to upswings in various commodity prices and labor costs
Opportunities
High evaluation of Japan’s tourism resources from home and abroad
Expectations for further growth in foreign visitors to Japan
Competitive Advantages
Mitsui Garden Hotel members: Over 1,100,000*
Number of directly managed guest rooms: Approx.13,400 (domestic and overseas)*
Development of 14 hotel and resort brands meeting diverse customer needs, from luxury to lodging-focused bra
Links between the customer bases for offices, retail facilities, logistics facilities, housing, and other products
* As of the end of July 2025
Business Strategies
Provide high-quality stay value by improving the customer experience and available services. Expand the customer base and earnings by further enhancing the brand strength of hotels.
Propose personalized stay experiences through the use of customer data and expand the domestic and international customer bases.
Create neighborhoods harnessing the power of sports and entertainment
Tokyo Dome City, a place that creates exciting experiences through sports and entertainment
Accelerated the creation of a neighborhood that harnesses the power of sports and entertainment to instill excitement
Since opening in July last year, operations at LaLa arena TOKYO-BAY*1 have progressed smoothly with cross-traffic benefits at LaLaport TOKYO-BAY and LaLa Terrace TOKYO-BAY becoming apparent.
A new large, multipurpose arena with a 10,000-person capacity tentatively named Nagoya Arena*2 is scheduled to open early 2028
Both are the home arenas for B.LEAGUE*3 teams, and are adjacent to large-scale LaLaport retail facilities developed by the Company
Following a strict location selection process centered in Japan’s three major metropolitan areas, further accelerate exciting neighborhood development projects LaQua that harness the power of sports and entertainment
*1 A joint project with MIXI, Inc. *2 A joint project with Toyota Tsusho Corporation and KDDI CORPORATION *3 A men’s professional basketball league in Japan
Expand business models that link sports/entertainment and retail facilities
Persistent inflation including building costs and continued high policy interest rates
Destabilization of the financial and real estate markets due to uncertainty in tariff and other policy trends
Opportunities
Preference for high-quality properties in favorable locations due to changes in the need for real venues
Incorporation of the demand for “Laboratory and Office” buildings associated with the growth of the life science industry
Increase in business opportunities in the U.S. Sun Belt Area with continued population influx
APAC Market
Risks
Changes in the need for real retail facilities associated with growth in e-commerce
Geopolitical risks caused by such factors as mutual tension between the United States and China
Opportunities
Expansion of demand for consumption of experiences, etc., unique to real retail facilities
Increase in business opportunities for each asset on the back of various factors, including economic growth, upswings in middle class and personal consumption, and the advance of urbanization
Competitive Advantages
“Engaged in Every Asset Class,” an “Expansive Value Chain,” and “Development Capabilities Necessary for Creating Neighborhoods”
A History of Over 50 Years in Overseas Business
Promoting Localization by Recruiting and Promoting Excellent Local Employees
Business Strategies
Further develop and evolve overseas business
Please see “Further develop and evolve overseas business,”
the first path of & INNOVATION 2030, the Group long-term
vision.
Area strategy
[Europe and the U.S.]
Develop with a focus on office buildings and leasing housing
in a mature, highly transparent, and liquid real estate market ■ Base cities
New York, San Francisco, Los Angeles, Dallas, Honolulu, London
[APAC]
Engage in development centered on condominiums and
retail facilities in growth areas, including the Asian market
where consumer spending is expanding and urbanization is
progressing ■ Base cities
Shanghai, Taipei, Bangkok, Bengaluru, Kuala Lumpur, Singapore, Sydney
Overseas partnership strategy
Advancing business in each region with approx. 65 partner companies ■ Major partner companies
[Europe and the U.S.]
USA Related, Tishman Speyer, Hines
UK Stanhope, EDGE Technologies
[APAC]
Singapore Hong Leong Group
Taiwan Cathay Real Estate Development Co., Ltd.
