Jump to content

Mitsubishi Estate

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Shaqiri19 (talk | contribs) at 13:17, 28 November 2014 (→History). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Mitsubishi Estate
URLwww.mec.co.jp

Mitsubishi Estate Co., Ltd. (三菱地所株式会社, Mitsubishi Jisho Kabushiki-gaisha, MEC) (TYO: 8802) is a Japanese corporation. It is one of the core Mitsubishi companies. Mitsubishi Estate has its headquarters in the Otemachi Building in Ōtemachi, Chiyoda, Tokyo.[1]

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 Marunouchi and Otemachi districts west of Tokyo Station, 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, The Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi Electric, Meiji Yasuda Life, Nippon Yusen and other Mitsubishi group companies, as well as numerous other firms not affiliated with the group.

In 1989 Mitsubishi Estate fully bought out Rockefeller Group in New York, 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.

Recent News

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.[2]

Business

The Marunouchi Building, which was completed in 2002

MEC is Japan's second-largest real-estate developer (after Mitsui Fudosan) and is involved in property management and architecture research and design. MEC owns Japan's second tallest building, the Yokohama Landmark Tower, as well as the Sanno Park Tower and Marunouchi Building in Tokyo.

Stock

MEC is traded on the Tokyo Stock Exchange under number 8802.

Shareholders

(as of February 2005)

Holdings

(as of February 2005)

References

  1. ^ "Corporate Data." Mitsubishi Estate. Retrieved on March 7, 2010.
  2. ^ "Mitsubishi Estate to sell Tokyo property to Mizuho for $1.35 billion" (Press release). Reuters. 27 November 2014.
Wikimedia Commons has media related to Mitsubishi Estate.
Stub icon

This article about a Japanese corporation- or company-related topic is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Mitsubishi_Estate&oldid=635767996"