News Releases
New Mori Trust Group Mid to Long Term Vision Advance2030 Established ¥1.2 Trillion in New Investment by FY2030
MORI TRUST CO., LTD. hereby announces the revision of Advance2027, the Mori Trust Group Mid to Long Term Vision formulated in 2016, as Advance2030 with the establishment of a target for ¥1.2 trillion in new investment in the lead up to FY2030, as well as targets for ¥330.0 billion in operating revenue and ¥70.0 billion in operating income by FY2030.
Fiscal year | FY2016 | FY2023 | FY2030 (Advance2030) |
Operating revenue | 1,402 | 2,750 | 3,300 |
Rental related business | 627 | 900 | 1,000 |
Hotel related business | 298 | 630 | 1,000 |
Real estate sales business | 364 | 1,020 | 1,000 |
Other business | 112 | 200 | 300 |
Operating income | 303 | 550 | 700 |
Advance2030 Numerical Targets
Since 2016 when Miwako Date assumed the position of President and Chief Executive Officer, MORI TRUST has been promoting its three businesses of Real Estate, Hotel & Resorts, and Investment, having formulated Advance2027, its mid to long term vision aimed at stable growth while maintaining a solid financial platform for regional innovation and globalization in Japan over the next decade with targets for ¥230.0 billion in operating revenue and ¥50.0 billion in operating income in FY2027. The Group has already achieved the final targets of Advance2027 for four fiscal years in a row since FY2019 and has recorded all-time high leasing-related revenue and hotel-related revenue.
Therefore, following the COVID-19 pandemic, the Group has revised Advance2027 into the new mid to long term vision Advance2030. The Group has set a target of achieving ¥330.0 billion in operating revenue in FY2030, the final year of the vision, aiming for more than ¥100.0 billion in revenue in all the reporting segments, which are the leasing related business, the hotel related business, and the real estate sales business through business investment of ¥1.2 trillion by FY2030.
Business Strategy for Achieving Operating Revenue of ¥330.0 Billion
In the Real Estate business, we plan to hold the grand opening for Tokyo World Gate Akasaka in 2025. We aim to develop it as a landmark in central Tokyo that will help to enhance international city capabilities, serving as a new destination based on the concept of “NEXT DESTINATION.” Furthermore, in terms of overseas investment, we are participating in the joint development of 15 Necco Street, a life science lab and office in Boston, U.S., one of the nation’s leading clusters of companies, venture capital, government and educational institutions involved in the field of life sciences. We are also participating in the renovation project at 245 Park Avenue, located in the Midtown area, which is the economic and cultural center of Manhattan, New York.
At present, in the Hotel & Resort business, we are carrying out a large-scale renovation and reconstruction project at the Karuizawa Mampei Hotel and a development project at the Hotel Indigo Nagasaki Glover Street in Nagasaki. We also aim to supply 2,000 hotel rooms by FY2030. In addition, we operate 30 hotels and with plans for 25 more, including those under development, we will promote the attraction of international hotels in the Izu Hakone and Hokuriku areas, in addition to Tokyo and Kyoto, which are golden routes for tourism. We will also accelerate our Luxury Destination Network initiative.
Furthermore, we plan to meet the diverse needs of residents, travelers, and investors by supplying hotel condominiums and branded residences bearing the names of luxury brands as our focus for the future, taking advantage of our expertise in luxury residences and hotel development and management cultivated to date. By FY2030, we will develop 800 units in central Tokyo and popular resort areas in order to further capture the affluent segment in Japan and overseas who find Japan attractive.
Further Promoting Business
Under its corporate slogan “Create the Future,” the Mori Trust Group will further promote the Real Estate and Hotel & Resort businesses looking to the future in order to make a contribution to strengthening Japan’s international competitiveness in the lead up to 2030.
Advance2023 Action Plans
We will continue to implement the following action plans under Advance2030.
(1) Real Estate Business (Leasing and Sales)
i) Selection and concentration | Intensive investment in areas where we can be highly competitive |
ii) Optimal combinations | Optimally combine functions to maximize the characteristics of land |
iii) Strengthening international city functions | Contribute to the kind of urban development which serves to contribute to the strengthening of Japan’s international competitiveness |
(2) Hotel & Resorts Business
i) Communicating the brand of Japan | Leverage abundant tourism resources to communicate the charm of Japan to the rest of the world |
ii) Global standards | Providing services based on international standards and global lifestyles to the Japanese market |
iii) Innovation | Creating new value by integrating Japanese culture with services that are based on international standards |
iv) Aiming for Japan to become an advanced country in terms of tourism | Contributing through business to the establishment of Japan’s status as an advanced country when it comes to tourism |
(3) Investment Business
In order to build an optimal business and asset portfolio in a manner having us promptly responding to the times, we will ensure that our investments focus on stability, sustainability, and growth potential through the deployment of variety of investment methods for all businesses serving to bring value to greater society.
■ Implementation Plans in Advance2030
Real Estate Business (Leasing)
・Tokyo World Gate Akasaka/Akasaka Trust Tower (grand opening planned in FY2025)
We are promoting development with the aim of creating an urban area that will become a destination for diverse people to meet and interact based on the area concept of “Next Destination: Meet up again in the city.”
Site area | approx. 15,750㎡ |
Rentable area | approx. 220,000㎡ (Including existing buildings) |
Number of floors | 43 floors above ground 3 floors below ground |
Location | 2-chome, Akasaka, Minato-ku, Tokyo |
Property type | Offices, hotel, serviced apartments, shop & restaurant, facilities to support tourism, facilities to promote history and culture, clinic |
・15 Necco Street
MORI TRUST is participating in the joint development of a life science lab and office in the Seaport District, designated as an area for city-led innovation in Boston, U.S., which has one of the nation’s leading clusters of companies, venture capital, government and educational institutions involved in the field of life sciences.
Site area | 8,979㎡ |
Rentable area | 32,143㎡ |
Number of floors | 12 floors above ground 1 basement floor |
Location | 15 Necco Street, Boston, Massachusetts 02210 |
Property type | Laboratory and office, Retail |
・245 Park Avenue
245 Park Avenue is an office building located in the Midtown area, which is the economic and cultural center of Manhattan, which has the largest urban population in the United States, and is home to tourist attractions such as Times Square, high-rise buildings, and luxury hotels. It will be jointly owned with SL Green Realty Corp., the largest real estate company in Manhattan, and the renovation project will be carried out ahead of 2025.
Site area | 7,556㎡ |
Rentable area | 165,627㎡ |
Number of floors | 45 floors above ground |
Location | 245 Park Ave, New York, NY 10029 |
Property type | Offices |
Hotel & Resorts Business
・Tokyo EDITION, Ginza (scheduled to open during 2023)
With a strong affinity with the customer base for the high-end global brands located in the in the surrounding area, the aim is to contribute to the sustainable development of the Ginza area by attracting global travelers, including trendsetters and the affluent segment.
Site area | 663.91㎡ |
Total floor area | 7,654.82㎡ |
Number of floors | 14 floors above ground 1 basement floor |
Location | 8-13, Ginza 2-chome, Chuo-ku, Tokyo |
Number of rooms | 86 rooms (Including suite rooms) |
・Laforet Hakone Gora Yunosumika Ayanokan (scheduled to open on Friday, January 19, 2024)
Based on the concept of “Immersion through the five senses and creating rich times,” the hotel is scheduled to open in 2024 as a place with high-quality facilities in harmony with the nature of Hakone and attentive service where Hakone can be enjoyed through the five senses.
Site area | 691.95㎡ |
Total floor area | 996.12㎡ |
Number of floors | 4 floors above ground |
Location | 1320-708 Gora, Hakone-cho, Ashigarashita-gun, Kanagawa |
Number of rooms | 22 rooms |
・Mampei Hotel large-scale renovation and reconstruction project (scheduled to open in summer 2024)
The project is a large-scale renovation and reconstruction of Mampei Hotel which will celebrate its 130th anniversary in 2024. The project aims to preserve the traditions of the hotel as a valuable historical building in the history of Japanese hotels and to provide a prestigious place to stay as a classic hotel for a long time into the future.
Site area | 103,676.00㎡ |
Total floor area | 13,278.74㎡ |
Number of floors | 2 floors above ground 1 basement floor |
Location | 925 Karuizawa, Karuizawa-cho, Kitasaku-gun, Nagano |
Areas planned for renovation/construction | Alps Building, Asama Building, Atago Building, etc. |
・Hotel Indigo Nagasaki Glover Street (scheduled to open in winter 2024-2025)
Nagasaki is a tourist attraction with an exotic and cosmopolitan atmosphere. Hotel Indigo, a boutique brand developed by IHG Hotels & Resorts, was attracted to the area, where further development of tourism is expected with the opening of the Nishi Kyushu Shinkansen.
Site area | 5,505.29㎡ |
Total floor area | 4,561.91㎡ |
Number of floors | 3 floors above ground 1 basement floor |
Location | 12-17 Minamiyamate-cho, Nagasaki City, Nagasaki |
Number of rooms | approx. 70 rooms |
List of Existing Hotels and New Hotel Projects
Real Estate Business (Sales)
・Hotel Condominiums/Branded Residences
Going forward, the Mori Trust Group will promote the development of hotel condominiums and branded residences with the names of major brands that offer luxury services, such as hotels, and will supply 800 units by FY2030. By adding to our lineup of development projects, we will utilize our expertise in luxury hotel development and develop differentiation from the competing residential property market.
【Reference】
Hotel condominiums: Hotels for sale, where individuals, etc. can purchase rooms under separate ownership to use themselves or to rent out as hotel rooms to earn rental income
Branded residences: Residences for sale which bear the name of major brands, such as hotels, and which offer the services and other added benefits of luxury hotels and residences