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Major Japanese real estate developer, best known for owning and developing the Marunouchi business district next to Tokyo Station.
Major Japanese real estate developer, best known for owning and developing the Marunouchi business district next to Tokyo Station.
Rent from leased office and retail buildings, mostly in the Marunouchi area around Tokyo Station, supplies the steady core, while condominium development and property sales add lumpier gains. Part of the Mitsubishi group, which has owned much of the district since buying the land from the government in 1890.
In one line: A Japanese Boston Properties/SL Green.
Moat: narrow (scale, installed base). Concentrated ownership of the prime Tokyo Marunouchi office district built over a century.
Headquarters: Tokyo, Japan · Founded: 1937 · Employees: 11,659
Size Mitsubishi Estate (8802.T) is a Japan Real Estate company (Real Estate Development) with a market value of $29.5B, the 54th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,910 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -4.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 17.3% over the last twelve months (peer median +4.8%); the operating margin is 20.6% (peer median 24.6%).
Valuation It trades at 19.2× forward earnings against a peer median of 15.6× (6th most expensive of 21).
Credit Mitsubishi Estate has 1 bond outstanding ($500M), rated A2 by the agencies and trading like A- at a weighted spread of 67 bp.
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.89T | ¥1.75T | ¥1.58T | ¥1.50T | ¥1.38T |
| Revenue growth | — | +11% | +5% | +9% | — |
| Gross profit | ¥516B | ¥455B | ¥418B | ¥392B | ¥397B |
| EBITDA | ¥501B | ¥441B | ¥414B | ¥381B | ¥393B |
| Net income | ¥286B | ¥223B | ¥189B | ¥168B | ¥165B |
| Free cash flow | n/a | ¥7.81B | -¥118B | ¥39.9B | -¥11.0B |
| Capital expenditure | n/a | ¥528B | ¥444B | ¥451B | ¥287B |
| Total debt | ¥3.78T | ¥3.61T | ¥3.34T | ¥3.14T | ¥2.87T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mitsubishi Estate 8802.T | $29.5B | -12% | +17% | 21% | 19.2× | n/a |
| Mitsui Fudosan 8801.T | $27.4B | -5% | -10% | 14% | 14.9× | n/a |
| Sumitomo Realty & Development C 8830.T | $18.8B | -34% | +5% | 29% | 12.8× | n/a |
| Tokyu Fudosan Holdings Corporat 3289.T | $5.69B | -7% | +6% | 14% | 8.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8802.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.5% | +7.9% | 6th highest of 21 |
| 6-month return | -11.8% | -4.3% | 7th lowest of 21 |
| Distance from 52-week high | -27.3% | -13.4% | 3rd lowest of 21 |
| Revenue growth (TTM) | +17.3% | +4.8% | 5th highest of 21 |
| Operating margin | 20.6% | 24.6% | 10th lowest of 21 |
| Forward P/E | 19.2× | 15.6× | 6th most expensive of 21 |
| Bond spread | 67 bp | 103 bp | 2nd tightest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mitsubishi Estate 8802.T | Japan | $29.5B | -12% | +17% | 21% | 19.2× | n/a | n/a |
| China Res Land 1109.HK | Hong Kong | $29.1B | -7% | -12% | 16% | 8.9× | n/a | n/a |
| Mitsui Fudosan 8801.T | Japan | $27.4B | -5% | -10% | 14% | 14.9× | n/a | n/a |
| CBRE CBRE | United States | $39.1B | -7% | +14% | 3% | 16.3× | n/a | n/a |
| CK Asset 1113.HK | Hong Kong | $21.9B | -3% | +48% | 15% | 12.8× | n/a | n/a |
| KE Holdings, Inc. Class A 2423.HK | Hong Kong | $21.4B | +3% | -11% | 6% | 16.8× | n/a | n/a |
| Shk Ppt 0016.HK | Hong Kong | $43.5B | -18% | +17% | 26% | 14.1× | n/a | n/a |
| DLF DLF.NS | India | $19.7B | +22% | -29% | 13% | 38.3× | n/a | n/a |
| Swire Properties 1972.HK | Hong Kong | $19.4B | +4% | +6% | 49% | 18.3× | n/a | n/a |
| Sumitomo Realty & Development C 8830.T | Japan | $18.8B | -34% | +5% | 29% | 12.8× | n/a | n/a |
| China Overseas 0688.HK | Hong Kong | $18.4B | -13% | +4% | 11% | 10.2× | n/a | n/a |
| Henderson Land 0012.HK | Hong Kong | $18.3B | -12% | +46% | 20% | 17.2× | n/a | n/a |
| Hongkong Land H78.SI | Singapore | $17.7B | -1% | -25% | 23% | 20.9× | n/a | n/a |
| Jones Lang LaSalle JLL | United States | $16.9B | +12% | +11% | 5% | 13.4× | n/a | n/a |
| Vonovia VNA.DE | Germany | $16.1B | -24% | -17% | 40% | 9.4× | n/a | n/a |
| Swiss Prime Site SPSN.SW | Switzerland | $13.0B | +1% | -12% | 76% | 31.7× | n/a | n/a |
| Sino Land 0083.HK | Hong Kong | $12.8B | -20% | +15% | 34% | 20.4× | n/a | n/a |
| Wharf Reic 1997.HK | Hong Kong | $12.6B | +24% | -1% | 73% | 14.8× | n/a | n/a |
| Lodha Developers LODHA.NS | India | $12.5B | +22% | +21% | 31% | 27.0× | n/a | n/a |
| China Res Mixc 1209.HK | Hong Kong | $12.1B | -14% | +10% | 28% | 18.4× | n/a | n/a |
| Klepierre LI.PA | France | $11.6B | +8% | +3% | 63% | 13.1× | n/a | n/a |
Mitsubishi Estate has 1 bond outstanding with $500M face value. The agencies rate it A2; its bonds trade like A-. Weighted yield 5.28%, a spread of 67 bp over government bonds.