Business Aug 12, 2014

Mori Building sells debt to fund projects in run-up to Olympics

Mori Building Co. sold its longest bond ever as Japan's biggest closely held developer plans ¥1 trillion ($9.8 billion) in projects in the decade that will include the 2020 Tokyo Olympics. The company, whose Roppongi Hills complex houses Goldman Sachs Group Inc. and Apple Inc., ...

National Jul 16, 2014

Mitsubishi Estate to tap Otemachi for new hot spring facility

Tourists and local residents in the Otemachi business district will soon be able to enjoy a natural hot spring bath in the heart of Tokyo, after real-estate giant Mitsubishi Estate Co. confirmed Tuesday it had successfully tapped a hot spring source and would proceed ...

Business / Corporate May 8, 2014

Mitsubishi Estate turns first profit in three years

Mitsubishi Estate Co. said Thursday that full-year earnings rose for the first time in three years as profit margins at its residential business improved and office rents recovered. Net income gained 41 percent to ¥64.3 billion for the year ended March 31, the company said ...

Mitsubishi Estate profit up 73% on home sales

Business / Corporate Feb 5, 2014

Mitsubishi Estate profit up 73% on home sales

Mitsubishi Estate Co. said Wednesday its nine-month net income rose 73 percent as profit margins of its residential business improved. Net income came to ¥58.5 billion for the nine months that ended Dec. 31 from ¥33.9 billion a year earlier, Japan's biggest developer by market ...

Business / Corporate Feb 3, 2014

Defect-hit Mitsubishi Estate halts sale

Mitsubishi Estate Co., the nation's biggest developer by market value, said it is halting the sale of units in a residential building in central Tokyo because of defects. The building in the upscale Aoyama neighborhood was found to require some construction repairs, including to some ...

Mitsubishi Estate to hike office rent in Marunouchi

Business / Corporate Dec 19, 2013

Mitsubishi Estate to hike office rent in Marunouchi

Mitsubishi Estate Co. plans to increase office rents for the first time in about five years in 2014 as the supply of new buildings slows. Mitsubishi Estate, owner of about 30 buildings in Tokyo's Marunouchi business district, plans to boost rents by as much as ...