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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 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. Mitsubishi Estate has its headquarters in the Otemachi Building in Ōtemachi,
Chiyoda, Tokyo is a Special wards of Tokyo, special ward located in central Tokyo, Japan. It is known as Chiyoda City in English language, English.
. It is one of the core Mitsubishi companies.


History

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. Its largest concentration of assets is around the Daimaruyū area ( Ōtemachi, Marunouchi and Yūrakuchō districts) west of Tokyo 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, Mitsubishi UFJ Financial Group, MUFG Bank, 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 Motors ...
, 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 Rockefeller Group 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 Estate Co. The company began with the development of Rockefeller Cent ...
in New York City, the real estate company that then fully owned Rockefeller Center. 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 and Umeda Stations 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 Tokyo back to Mizuho Financial Group 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 Astroscale Holdings Inc. is a private orbital debris removal company headquartered in Tokyo, Japan. The company is developing satellite end-of-life and active debris removal services to mitigate the growing and hazardous buildup of debris in ...
, 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 Property technology (also known as proptech, PropTech, prop-tech, and real estate technology) is used to refer to the application of information technology and platform economics to the real estate industry. Property technology overlaps with finan ...
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