is one of the largest real-estate developers in Japan 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 a commercial district of Tokyo located in Chiyoda between Tokyo Station and the Imperial Palace. The name, meaning "inside the circle", derives from its location within the palace's outer moat. It is also Tokyo's financial ...

district of Tokyo. MEC owns Japan's second tallest building, the Yokohama Landmark Tower, as well as the

Sanno Park Tower The Sanno Park Tower
"

Marunouchi Building in

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.46 ...

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

Chiyoda, Tokyo is a special ward located in central Tokyo, Japan. It is known as Chiyoda City in English.Profile< ...

. 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 historically descended from the Mitsubishi zaibatsu, a unified company which existed from 1870 ...

companies.

History

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

zaibatsu is a Japanese term referring to industrial and financial vertically integrated business conglomerates in the Empire of Japan, whose influence and size allowed control over significant parts of the Japanese economy from the Meiji period unt ...

''. 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 Japan's largest trading company (sogo shosha) and a member of the Mitsubishi keiretsu. As of 2022, Mitsubishi Corporation employs over 80,000 people and has ten business segments, including finance, banking, energy, machinery, chemical ...

, Mitsubishi UFJ Financial Group,

MUFG Bank is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. MUFG is one of the three so-called Japanese "megabanks" (along with SMBC and Mizuho). As such, ...

, Mitsubishi UFJ Trust & Banking,

Mitsubishi Heavy Industries is a Japanese 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 predecessor of Mitsubishi ...

Mitsubishi Electric , established on 15 January 1921, is a Japanese multinational electronics and electrical equipment manufacturing company headquartered in Tokyo, Japan. It is one of the core companies of Mitsubishi. The products from MELCO include elevators an ...

Meiji Yasuda Life is a Japanese life insurance company, headquartered in Tokyo and created in 2004 from the merger of Meiji Life and Yasuda Life. The company is one of the oldest and largest insurers in Japan. The Meiji Yasuda Life Insurance Company is a membe ...

Nippon Yusen Nippon Yūsen Kabushiki Kaisha (Japan Mail Shipping Line), also known as NYK Line, is a Japanese shipping company and is a member of the Mitsubishi ''keiretsu''. The company headquarters are located in Chiyoda, Tokyo, Japan. It operates a flee ...

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 in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

, the real estate company that then fully owned

Rockefeller Center Rockefeller Center is a large complex consisting of 19 commercial buildings covering between 48th Street and 51st Street in Midtown Manhattan, New York City. The 14 original Art Deco buildings, commissioned by the Rockefeller family, span th ...

. 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 designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the third most populous city in Japan, following Special wards of Tokyo and Yokohama. With a population of ...

and

Umeda Station is a railway station in 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: * Hankyu Railway ( K ...

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 , abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "" literally means "abundant rice" in Japanese and "harvest" in the figurative sense. Upo ...

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.

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 the 28th of 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 Real estate companies based in Tokyo Mitsubishi companies Japanese companies established in 1937