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

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2Q FY2023 2Q FY2022 Change
Office Buildings
Revenue
218,803 207,218 11,584
Retail Facilities
Revenue
139,953 125,368 14,585
Other
Revenue
40,227 31,300 8,927
Total
Revenue
Operating Income

398,984
88,418

363,887
75,314

35,097
13,104

Leased Floor Space

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2Q FY2023 2Q FY2022 Change
Office Buildings
Leased Floor Space (1,000m2)
  Owned
  Managed

2,068
1,488

1,982
1,490

86
(2)
Retail Facilities
Leased Floor Space (1,000m2)
  Owned
  Managed

2,009
646

1,895
636

114
10
Total (1,000m2) 6,212 6,003 209
Vacancy Rate (%)* 4.4 6.0 (1.6)pt

* 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 / Operating Income

Millions of Yen

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2Q FY2023 2Q FY2022 Change
Property Sales to Individuals
(Domestic)
  Revenue
  Operating Income

166,360
36,324

119,475
13,208

46,884
23,115
Property Sales to Investors
and Individuals (Overseas), etc.
  Revenue
  Operating Income

153,178
40,118

168,040
44,078

(14,861)
(3,959)
Total
  Revenue
  Operating Income

319,538
76,442

287,515
57,286

32,023
19,155

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 / Operating Income

Millions of Yen

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2Q FY2023 2Q FY2022 Change
Property Management
  Revenue
  Operating Income

168,956
19,389

164,481
18,530

4,474
858
Brokerage, Asset Management, etc.
  Revenue
  Operating Income

52,316
10,559

53,063
13,604

(747)
(3,045)
Total
  Revenue
  Operating Income

221,272
29,948

217,545
32,135

3,727
(2,187)

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 and retail facilities. 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

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2Q FY2023 2Q FY2022 Change
Hotels and Resorts *
  Revenue
65,807 39,205 26,601
Sports and Entertainments *
  Revenue
28,343 21,000 7,343
Total
  Revenue
  Operating Income

94,151
12,590

60,205
(6,433)

33,945
19,024

* 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

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2Q FY2023 2Q FY2022 Change
New Construction
under Consignment and Reform, etc. *
  Revenue
113,233 111,785 1,448
Other *
  Revenue
18,064 16,107 1,957
Total
  Revenue
  Operating Income

131,298
(1,043)

127,892
(2,883)

3,405
1,840

* 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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2Q FY2023 2Q FY2022 Change
Revenue from New Construction
under Consignment Orders Receive
64,600 62,500 2,100

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.

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