IR

Segment Overview

Change in Financial Segment 「Effective from FY2023」

Mitsui Fudosan has undertaken a change in its business segments effective from April 2023. Brief details are as follows.
・The previous four “Leasing,” “Property Sales,” “Management,” and “Other” segments have been reclassified into the five “Leasing,” “Property Sales,” “Management,” “Facility Operations,” and “Other” segments.
・The “Facility Operations” and “Tokyo Dome” categories included in the “Other” segment have been consolidated into the “Facility Operations” segment.

1.Leasing

Revenue from Operations

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
Office Buildings
Revenue
119,777 113,098 6,679
Retail Facilities
Revenue
77,812 71,884 5,928
Other
Revenue
28,453

22,124

6,329
Total
Revenue
Business Income
226,043
45,764
207,107
44,538
18,936
1,226

Leased Floor Space

SCROLL

1Q FY2025 1Q FY2024 Change
Office Buildings
Leased Floor Space (1,000m2)
  Owned
  Managed

2,069
1,537

2,070
1,514

(1)
23
Retail Facilities
Leased Floor Space (1,000m2)
  Owned
  Managed

2,103
741

2,017
665

86
76
Total (1,000m2) 6,450 6,266 184
Vacancy Rate (%)* 3.7 4.0 (0.3pt)

* Office Buildings and Retail Facilities (Consolidated)

Office Buildings

The Mitsui Fudosan Group leases its own property holdings and subleases office buildings on behalf of clients, both in Japan and overseas.
Under the slogan of "COLORFUL WORK PROJECT," "Mitsui Office" is pioneering workstyle and workplace diversity so that anyone can work in a way that expresses their individuality.
We provide spaces that are not just for work, but where people can gather and explore new lifestyles through a variety of activities both on and off the clock.

Retail Facilities

The Mitsui Fudosan Group develops shopping centers around Japan based on various concepts, such as "Mitsui Shopping Park LaLaport", "MITSUI OUTLET PARK", "Mitsui Shopping Park Urban" and "Mitsui Shopping Park RAYARD", which integrates parks and retail facilities. We also operate our own e-commerce website "& mall".

Mitsui Fudosan Group's shopping centers

2.Property Sales

Revenue from Operations / Business Income

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
Property Sales to Individuals
(Domestic)
  Revenue
  Operating Income

241,076
85,633

165,410
41,487

75,665
44,145
Property Sales to Investors
and Individuals (Overseas), etc.
  Revenue
  Operating Income

90,696
12,126

26,358
5,203

64,337
6,923
Total
  Revenue
  Operating Income
  Equity in Net Income or Loss of Affiliated Companies*
  Gain / Loss on Retirement of Non-current Assets
  Business Income
331,772
97,759
457
26,493
124,710
191,768
46,690
1,842
130
48,663
140,003
51,068
(1,384)
26,362
76,047

* Equity in earnings/losses of affiliates includes gain/loss om sales of shares of subsidiaries and affiliates forthe purpose of real estate sales.

Property Sales to Individuals (Domestic)

The Mitsui Fudosan Group is engaged in the sale of condominiums and detached houses in Japan. Our properties are of the highest quality, thanks to meticulous quality control measures and innovative concepts that make owners feel warm and proud. Our policy is to deliver products that leave a lasting, positive impression on our customers.

Property Sales to Investors and Individuals (Overseas), etc.

The Mitsui Fudosan Group develops and sells various properties, such as office buildings, retail facilities, logistics facilities, and leasing housing to a range of investors, including Japanese real estate investment trusts (J-REITs) and private funds. Overseas, we sell condominiums in the U.S., U.K., and Asia.

3.Management

Revenue from Operations / Business Income

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
Property Management
  Revenue
  Operating Income

89,067
8,805

87,504
8,697

1,562
108
Brokerage, Asset Management, etc.
  Revenue
  Operating Income

31,091
8,647

27,577
6,401

3,514
2,246
Total
  Revenue
  Operating Income
  Business Income
120,158
17,453
17,453
115,081
15,098
15,098
5,077
2,355
2,355

Property Management

The Mitsui Fudosan Group provides property management and tenant improvement services on a consignment basis covering a variety of properties, including office buildings, retail facilities and housing. We also engage in comprehensive car parking services, provided under the "Mitsui Repark" brand.

Brokerage, Asset Management, etc.

The Mitsui Fudosan Group brokerage business for individual customers covers existing residential properties under the "Mitsui Rehouse", the nation’s No. 1 residential brokerage service brand. We also act as broker for business-use properties for corporate clients and others. In the asset management business, we deploy the specialist real estate-related knowledge, expertise, and network of the Mitsui Fudosan Group to offer exceptional investment opportunities and reliable asset management services to J-REITs, private funds, and other investors.

4.Facility Operations

Revenue from Operations

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
Hotels and Resorts *
  Revenue
45,090 39,916 5,174
Sports and Entertainments *
  Revenue
17,706 15,871 1,834
Total
  Revenue
  Business Income
62,796
14,405
55,788
11,224
7,008
3,181

* Effective from the first quarter of the fiscal year ending March 31, 2024, the financial segments have been changed.
   Figures for the year-on-year period are after the new segment reclassification.

Hotels and Resorts

The Mitsui Fudosan Group operates "the Mitsui Garden Hotels", "THE CELESTINE HOTELS" and "sequence" hotels, as well as world-class luxury hotels and resort hotels in Japan, and operates "Halekulani" and "Halepuna Waikiki by Halekulani" in Hawaii.

Sports and Entertainments

The Mitsui Fudosan Group engages in stadium and arena business mainly in Tokyo Dome City.

5.Other

Revenue from Operations

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
New Construction
under Consignment and Reform, etc. *
  Revenue
52,148 51,433 714
Other *
  Revenue
9,396 9,196 200
Total
  Revenue
  Business Income
61,544
53
60,629
(549)
914
603

* Effective from the first quarter of the fiscal year ending March 31, 2024, the financial segments have been changed.
   Figures for the year-on-year period are after the new segment reclassification.

(Millions of yen)

SCROLL

1Q FY2025 1Q FY2024 Change
Revenue from New Construction
under Consignment Orders Receive
29,113 29,654 (541)

New Construction under Consignment and Reform, etc.

Mitsui Home engages in custom-built housing and reform business.

Other

The Mitsui Fudosan Group engages in mega-solar business and operates golf clubs in Japan.