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Mitsubishi EstateMitsubishi Estate Company, Limited8802東証プライム不動産業FY ending Mar 2026, consolidated, J-GAAP

Mitsubishi Estate FY ending Mar 2026 results

About 35% of Mitsubishi Estate's sales come from Commercial Property Business, with Residential Business and Marunouchi Property Business making up much of the rest.

Out of every ¥100 of sales, about ¥19 is left as operating profit.

Revenue changed +10.5% from the prior year, operating profit +6.6%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +10.5% · profit +6.6%, calculated from disclosed figures.

Operating leverage: 0.63× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+10.5%¥1.58T → ¥1.75T
Operating income
+6.6%¥309.2B → ¥329.7B
Net income attributable to owners
+17.5%¥189.4B → ¥222.5B
Operating cash flow
+57.0%¥324.1B → ¥508.9B
Free cash flow
Loss-¥119.5B → -¥15.8B

Results at a glance

  • Revenue for the FY ending Mar 2026 grew to ¥1.75T from ¥1.58T, up +10.5%.
  • Operating income rose more slowly, to ¥329.7B (+6.6%).
  • Net income climbed to ¥222.5B (+17.5%), helped by gains on selling shareholdings.
  • Operating cash flow jumped to ¥508.9B (+57.0%); free cash flow was still negative at -¥15.8B, but far less so than the prior year's -¥119.5B.

What drove the change

  • New office buildings coming online and sales of owned properties lifted the Commercial Property Business.
  • In Marunouchi, strong leasing cut vacancies and rents at existing buildings were raised.
  • Condominium revenue grew because each unit sold for more, even though fewer units were booked; overseas, property sales in the UK, US and Asia added to revenue.
  • Investment Management earned less because a one-off fee booked in an earlier year did not recur.

Things to watch

  • A weaker economy could hurt the property market, especially Tokyo office vacancies and condominium sales.
  • Higher construction material costs may not be fully passed on through sale prices or rents.
  • Rising interest rates in Japan and abroad could make borrowing more expensive.

Annual Securities Report (122nd fiscal period) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report (122nd fiscal period) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Cost of revenue is not disclosed; expenses are combined

Where ¥100 of sales goes

For every ¥100 Mitsubishi Estate sells, how much goes where, and how much is kept.

FY ending Mar 2026
Operating costs
¥81
Operating profit
¥19
Net profit kept
¥13

Annual margin trends

Operating margin18.9%
FY ending Mar 2021: 18.6%18.6%FY ending Mar 2022: 20.7%20.7%FY ending Mar 2023: 21.5%21.5%FY ending Mar 2024: 18.5%18.5%FY ending Mar 2025: 19.6%19.6%FY ending Mar 2026: 18.9%18.9%FY21FY22FY23FY24FY25FY26
Net margin12.7%
FY ending Mar 2021: 11.2%11.2%FY ending Mar 2022: 11.5%11.5%FY ending Mar 2023: 12.0%12.0%FY ending Mar 2024: 11.2%11.2%FY ending Mar 2025: 12.0%12.0%FY ending Mar 2026: 12.7%12.7%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    有価証券報告書－第122期(2025/04/01－2026/03/31)

    ID S100YBLA2026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第121期(2024/04/01－2025/03/31)

    ID S100VYRJ2025-06-25Open

  • EDINET (FSA Japan)

    有価証券報告書－第120期(2023/04/01－2024/03/31)

    ID S100TUBK2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第119期(2022/04/01－2023/03/31)

    ID S100R7UL2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第118期(令和3年4月1日－令和4年3月31日)

    ID S100OKQO2022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第117期(令和2年4月1日－令和3年3月31日)

    ID S100LTHE2021-06-29Open

Extracted from XBRL: 50 / Derived from other figures: 2

Spotted an error? Report it (corrections keep the original record)

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