is one of the largest real estate developers in

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

and is involved in property management and architecture research and design. As of 2018, Mitsubishi Estate has the most valuable portfolio in the Japanese real estate industry, with a total value of approx. 7.4 trillion yen, much of which is located in the

Marunouchi Marunouchi () is an area in Chiyoda, Tokyo, Chiyoda, Tokyo, Japan, located between Tokyo Station and the Kokyo, Imperial Palace. The name, meaning "inside the circle", derives from its location within the palace's outer moat. Marunouchi is the core ...

district of Tokyo. MEC owns Japan's third tallest building, the Yokohama Landmark Tower, as well as the Sanno Park Tower and Marunouchi Building in

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

. Mitsubishi Estate has its headquarters in the Otemachi Building in Ōtemachi,

Chiyoda, Tokyo , known as Chiyoda City in English,
." ''City of Chiyoda''. Retrieved on December 28, 2008. is a S ...

. It is one of the core

Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu, a unified company that existed from 1870 to 194 ...

companies.

History

The company was established in 1937 as a spin-off of the real estate holdings of the

zaibatsu is a Japanese language, Japanese term referring to industrial and financial vertical integration, vertically integrated business conglomerate (company), conglomerates in the Empire of Japan, whose influence and size allowed control over signifi ...

''. It was listed on the Tokyo and Osaka stock exchanges in 1953. Its largest concentration of assets is around the Daimaruyū area ( Ōtemachi,

and Yūrakuchō districts) west of

and Yūrakuchō Stations, an area purchased by the ''zaibatsu'' from the Meiji government in 1890 and developed into an office district. Today, the area houses the headquarters of

Mitsubishi Corporation is a Japanese general trading company ( ''sogo shosha'') and a core member of the Mitsubishi Group. For much of the post-war period, Mitsubishi Corporation has been the largest of the five great ''sogo shosha'' (Mitsubishi, Mitsui, Itochu, S ...

, Mitsubishi UFJ Financial Group, MUFG Bank, Mitsubishi UFJ Trust & Banking,

Mitsubishi Heavy Industries is a Japanese Multinational corporation, multinational engineering, electrical equipment and electronics corporation headquartered in Tokyo, Japan. MHI is one of the core companies of the Mitsubishi Group and its automobile division is the prede ...

Mitsubishi Electric is a Japanese Multinational corporation, multinational electronics and electrical equipment manufacturing company headquartered in Tokyo, Japan. The company was established in 1921 as a spin-off from the electrical machinery manufacturing d ...

, Meiji Yasuda Life,

Nippon Yusen The , also known as NYK Line, is a Japanese shipping company. The company headquarters are located in Chiyoda, Tokyo, Japan. It operates a fleet of over 820 ships, which includes container ships, Tanker (ship), tankers, bulk and woodchip carrie ...

and other Mitsubishi group companies, as well as numerous other firms not affiliated with the group. In 1990 Mitsubishi Estate fully bought out

Rockefeller Group Rockefeller Group International, Inc. is an American private company based in New York City, primarily involved in real estate operations in the United States and it is a subsidiary of Mitsubishi Group. The company began with Construction of Roc ...

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

, the real estate company that then fully owned

Rockefeller Center Rockefeller Center is a complex of 19 commerce, commercial buildings covering between 48th Street (Manhattan), 48th Street and 51st Street (Manhattan), 51st Street in the Midtown Manhattan neighborhood of New York City. The 14 original Art De ...

. Since then the older section of the Center has been sold and the Rockefeller Group, still owned by Mitsubishi, owns the western corridor of the complex. Mitsubishi Estate led the redevelopment of the Umekita area north of

Osaka is a Cities designated by government ordinance of Japan, designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the List of cities in Japan, third-most populous city in J ...

and

Umeda Station is a major railway station in Kita-ku, Osaka, Kita-ku in the northern commercial center of Osaka, Japan. It is the busiest station in western Japan, serving 2,343,727 passengers daily in 2005. Umeda Station is served by the following railways: ...

s between 2010 and 2013, including the Grand Front Osaka complex. Mitsubishi Estate stated in November 2014 that it had agreed to sell a 41-year-old office building in

back to

Mizuho Financial Group The , known from 2000 to 2003 as Mizuho Holdings and abbreviated as MHFG or simply Mizuho, is a Japanese banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The group was formed in 2000-2002 by merger of Dai- ...

for $1.35 billion. In 2015, Mitsubishi announced that it would hold a majority stake in a redevelopment project north of Tokyo Station that would include the tallest building in Japan, a skyscraper. The targeted completion date for the project is 2027. In 2019, Mitsubishi Estate became the developer of the One City Center project in Bangkok, which was completed in March 2023. This marked the Mitsubishi Estate Group's first office development project in Thailand, with a total investment of approximately 8.8 billion Thai baht (around 36.1 billion yen). Standing at about 276 meters tall, One City Center is the tallest office building in Thailand. Mitsubishi Estate collaborated on the project with Raimon Land Co. Ltd., a leading developer in Thailand.

Investments

In 2019, Mitsubishi Estate announced a commitment of 10 billion yen in investments as part of their initiative to discover new business projects and to develop synergy with innovative businesses. * Mitsubishi Estate participated in the Series D round of funding for Astroscale, a Singapore-headquartered space debris removal startup with offices in Japan and the UK. The round was led by Japan's INCJ Ltd., and included funds operated by SBI Investment Co., Ltd (SBII) and totaled US$50 million. * In May 2019, Singapore-based proptech startu
GorillaSpace
announced that it had raised an undisclosed seed round of investment led by Mitsubishi Estate. This investment marked the first seed level investment for Mitsubishi Estate, as well as the first proptech startup outside of Japan to receive funding from the company. * Mitsubishi Estate announced on 28 January 2019, that it has accepted new shares issued b
Clean Planet Inc
Clean Planet (Minato-ku, Tokyo) is a venture firm that researches and develops "new hydrogen energy".

Group companies

* Rockefeller Group International, Inc. * Europa Capital * Mitsubishi Jisho Sekkei Inc. * Mitsubishi Real Estate Services Co., Ltd. * Mitsubishi Estate Home Co., Ltd. * Yokohama Royal Park Hotel Co., Ltd. * Aqua City Co., Ltd. * Marunouchi Heat Supply Co., Ltd. * Yokohama Sky Building Co., Ltd. * Royal Park Hotel Co., Ltd.

References

External links

Mitsubishi Este Co., Ltd.
{{Authority control Real estate companies established in 1937 Companies listed on the Tokyo Stock Exchange Companies listed on the Osaka Exchange Companies in the Nikkei 225 Real estate companies based in Tokyo Mitsubishi companies Japanese companies established in 1937