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.(Millions of yen)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Office Buildings Revenue |
466,601 | 446,087 | 20,513 |
| Retail Facilities Revenue |
299,100 | 286,553 | 12,547 |
| Other Revenue |
106,628 | 82,360 |
24,268 |
| Total Revenue Business Income |
872,331 176,429 |
815,002 169,097 |
57,329 7,332 |
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Office Buildings Leased Floor Space (1,000m2) Owned Managed |
2,059 1,573 |
2,060 1,545 |
(1) 28 |
| Retail Facilities Leased Floor Space (1,000m2) Owned Managed |
2,005 708 |
2,010 667 |
(5) 41 |
| Total (1,000m2) | 6,345 | 6,282 | 63 |
| Vacancy Rate (%)* | 3.5 | 3.8 | (0.3pt) |
* Office Buildings and Retail Facilities (Consolidated)
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.
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
(Millions of yen)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Property Sales to Individuals (Domestic) Revenue Operating Income |
413,574 96,431 |
314,400 49,788 |
99,174 46,643 |
| Property Sales to Investors and Individuals (Overseas), etc. Revenue Operating Income |
344,495 46,455 |
313,210 82,181 |
31,284 (35,726) |
| Total Revenue Operating Income Equity in Net Income or Loss of Affiliated Companies* Gain / Loss on Retirement of Non－current Assets Business Income |
758,069 142,886 (4,577) 28,769 167,078 |
627,611 131,969 (1,029) 4,246 135,187 |
130,458 10,916 (3,547) 24,522 31,891 |
* Equity in earnings/losses of affiliates includes gain/loss om sales of shares of subsidiaries and affiliates forthe purpose of real estate sales.
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.
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.
(Millions of yen)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Property Management Revenue Operating Income |
361,400 38,464 |
347,025 38,554 |
14,375 (89) |
| Brokerage, Asset Management, etc. Revenue Operating Income |
124,891 33,177 |
115,831 27,735 |
9,059 5,442 |
| Total Revenue Operating Income Business Income |
486,291 71,642 71,642 |
462,857 66,289 66,289 |
23,434 5,352 5,352 |
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.
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.
(Millions of yen)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Hotels and Resorts * Revenue |
162,105 | 140,577 | 21,528 |
| Sports and Entertainments * Revenue |
61,948 | 53,934 | 8,013 |
| Total Revenue Business Income |
224,054 38,610 |
194,512 26,333 |
29,542 12,277 |
* 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.
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.
The Mitsui Fudosan Group engages in stadium and arena business mainly in Tokyo Dome City.
(Millions of yen)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| New Construction under Consignment and Reform, etc. * Revenue |
244,370 | 245,948 | (1,577) |
| Other * Revenue |
40,245 | 37,357 | 2,887 |
| Total Revenue Business Income |
284,616 6,569 |
283,306 4,151 |
1,310 2,417 |
* 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)
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| FY2024 | FY2023 | Change | |
|---|---|---|---|
| Revenue from New Construction under Consignment Orders Receive |
138,680 | 131,792 | 6,888 |
Mitsui Home engages in custom-built housing and reform business.
The Mitsui Fudosan Group engages in mega-solar business and operates golf clubs in Japan.