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{{Short description|Japanese real estate developer}}
{{Infobox company
| name = Mitsubishi Estate Co.Company, Ltd.Limited
| native_name = 三菱地所株式会社
| native_name_lang = ja
| romanized_name = Mitsubishi Jisho kabushiki gaisha
| logo = Mitsubishi Estate logo (english).svg
| type = [[Public company|Public]] [[Kabushiki kaisha|KK]]
| traded_as = {{tyo|8802}}<br>[[TOPIX|TOPIX Core 30 Component]]
| foundation = {{start date and age|1937|05|07|df=y}}
| predecessor = [[Mitsubishi|Mitsubishi Goshi Kaisha]]
| location_city = Otemachi Building<br />6-1, Otemachi 1-chome<br />[[Chiyoda-ku, Tokyo]]
| location_country = Japan
| key_people = {{ublist|Junichi Yoshida<ref>{{Cite web |url=https://www.mec.co.jp/en/company/director/ {{ublist|Keijititle=Board KimuraMembers |accessdate=2024-01-08}}</ref> (Chairman)|HirotakaAtsushi SugiyamaNakajima (President)}}
| industry = [[Real estate]]
| area_served = {{ublist|Japan|China|Vietnam|Singapore|United Kingdom|United States|Malaysia|Indonesia}}
| revenue =
| net_income =
| num_employees =
| homepage = {{URL|www.mec.co.jp/index_e.htm}}
}}
 
{{Nihongo|'''Mitsubishi Estate Co.Company, Ltd.Limited'''|三菱地所株式会社|Mitsubishi Jisho Kabushiki-kabushiki gaisha|'''MEC'''}} is one of the largest [[Real estate|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]] district of Tokyo.<ref>{{Cite web|url=https://asia.nikkei.com/Business/Business-Trends/Tokyo-real-estate-market-booming-ahead-of-Olympics|title=Tokyo real estate market booming ahead of Olympics|last=Maeno|first=Masaya|date=2018-07-26|website=Nikkei Asian Review|language=en-GB|access-date=2018-07-26}}</ref> MEC owns Japan's secondthird tallest building, the [[Yokohama Landmark Tower]], as well as the [[Sanno Park Tower]] and [[Marunouchi Building]] in [[Tokyo]]. Mitsubishi Estate has its headquarters in the Otemachi Building in [[Ōtemachi]], [[Chiyoda, Tokyo]].<ref>"[http://www.mec.co.jp/e/company/about/index.html Corporate Data]." Mitsubishi Estate. Retrieved on March 7, 2010.</ref> It is one of the core [[Mitsubishi]] companies.
 
==History==
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The company was established in 1937 as a spin-off of the real estate holdings of the [[Mitsubishi]] ''[[zaibatsu]]''. It was listed on the Tokyo and Osaka stock exchanges in 1953.<ref name="history">{{cite web|title=History|url=http://www.mec.co.jp/e/company/history/index.html|publisher=Mitsubishi Estate Co., Ltd.|access-date=7 September 2015}}</ref>
 
Its largest concentration of assets is around the Daimaruyū area ([[Ōtemachi]], [[Marunouchi]] and [[Yūrakuchō]] districts) west of [[Tokyo Station|Tokyo]] and [[Yūrakuchō Station]]s, an area purchased by the ''zaibatsu'' from the Meiji government in 1890 and developed into an office district.<ref name="tallest">{{cite news|last1=Narioka|first1=Kosaku|title=Mitsubishi Estate Plans Japan’sJapan's Tallest Building|url=https://www.wsj.com/articles/mitsubishi-estate-plans-japans-tallest-building-1441019921?tesla=y|access-date=7 September 2015|work=The Wall Street Journal|date=31 August 2015}}</ref> Today, the area houses the headquarters of [[Mitsubishi Corporation]], [[Mitsubishi UFJ Financial Group]], [[MUFG Bank]], [[Mitsubishi UFJ Trust and Banking Corporation|Mitsubishi UFJ Trust & Banking]], [[Mitsubishi Heavy Industries]], [[Mitsubishi Electric]], [[Meiji Yasuda Life]], [[Nippon Yusen]] 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]], the real estate company that then fully owned [[Rockefeller Center]].<ref name="history" /> 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.
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Mitsubishi Estate stated in November 2014 that it had agreed to sell a 41-year-old office building in [[Tokyo]] back to [[Mizuho Financial Group]] for $1.35 billion.<ref>{{cite press release | publisher=Reuters| date=27 November 2014| title=Mitsubishi Estate to sell Tokyo property to Mizuho for $1.35 billion | url=https://www.reuters.com/article/us-mitsubishi-est-mizuho-property-idUSKCN0JB10V20141127}}</ref>
 
In 2015, Mitsubishi announced that it would hold a majority stake in a redevelopment project north of Tokyo Station that would include the [[listTorch of tallest structures inTower (Japan)|tallest building in Japan]], a 1,279-foot{{convert|390|m|ft}} skyscraper. The targeted completion date for the project is 2027.<ref name="tallest" />
 
== 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.<ref>{{Cite web|url=https://www.nikkei.com/article/DGXLRSP501613_R00C19A2000000/|title=三菱地所、新事業創造に向けたベンチャー出資等が累計100億円に到達|website=日本経済新聞 電子版|date=February 2019 |language=ja|access-date=2019-06-18}}</ref>
 
* 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.<ref>{{Cite web|url=http://www.spacetechasia.com/singapore-based-space-debris-removal-company-astroscale-secures-us50m-in-series-d-round/|title=Singapore-based space debris removal company Astroscale secures US$50m in Series D round|last=Goh|first=Deyana|date=2018-10-31|website=SpaceTech Asia|language=en-US|access-date=2019-06-18}}</ref>
* In May 2019, Singapore-based [[PropTech|proptech]] startup [https://www.gorillaspace.co/ 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.<ref>{{Cite web|url=https://vulcanpost.com/664756/gorillaspace-funding-proptech-singapore/|title=S'pore PropTech Startup GorillaSpace Raises Seed Funding Led By Mitsubishi Estate|last=Chan|first=Melissa|date=2019-05-28|website=Vulcan Post|language=en-US|access-date=2019-06-18}}</ref>
* Mitsubishi Estate announced on the 28th of28 January 2019, that it has accepted new shares issued by [https://www.cleanplanet.co.jp/en/ Clean Planet Inc]. Clean Planet (Minato-ku, Tokyo) is a venture firm that researches and develops "new hydrogen energy".<ref>{{Cite web|url=https://tech.nikkeibp.co.jp/dm/atclen/news_en/15mk/021402676/?ST=msbe|title=Mitsubishi Estate Invests in 'New Hydrogen Energy' Startup - News - Solar Power Plant Business|website=tech.nikkeibp.co.jp|access-date=2019-06-18}}</ref>
 
==Group companies==
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[[Category:Companies listed on the Tokyo Stock Exchange]]
[[Category:Companies listed on the Osaka Exchange]]
[[Category:Companies in the Nikkei 225]]
[[Category:Real estate companies based in Tokyo]]
[[Category:Mitsubishi companies]]

Retrieved from "https://en.wikipedia.org/wiki/Mitsubishi_Estate"
 




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