Mori Trust Group FY2026 Consolidated Results: Record Operating Revenue of 321 Billion Yen
Mori Trust Group's consolidated financial results for the fiscal year ending March 2026 achieved record highs with operating revenue of 321.0 billion yen (up 14% YoY) and operating profit of 60.5 billion yen (up 12% YoY), driven by strong performance in office leasing and hotel operations. Further revenue and profit growth are forecasted for the next term, supported by contributions from US operations.
📋 Article Processing Timeline
- 📰 Published: May 22, 2026 at 01:00
- 🔍 Collected: May 21, 2026 at 16:31
- 🤖 AI Analyzed: May 21, 2026 at 16:53 (21 min after Collected)
We hereby announce the consolidated financial results of 50 Mori Trust Group companies (Mori Trust Co., Ltd., 44 consolidated subsidiaries, and 5 equity-method affiliates, including Mori Trust Building Management Co., Ltd. and Mori Trust Hotels & Resorts Co., Ltd.) for the fiscal year ending March 2026.
[Mori Trust Group Consolidated Results] (April 1, 2025 - March 31, 2026)
For the fiscal year ending March 2026, operating revenue reached a record high of 321.0 billion yen (up 14% year-on-year), and operating profit was 60.5 billion yen (up 12% year-on-year). Supported by robust office leasing demand, the newly operational 'Tokyo World Gate Akasaka Akasaka Trust Tower' and the high occupancy of existing office buildings, combined with strong performance in domestic hotels capturing inbound demand, led to record-high revenues in both the leasing and hotel businesses.
Ordinary profit was 64.5 billion yen (up 7% year-on-year), and net income attributable to owners of the parent was 39.2 billion yen (up 6% year-on-year).
For the fiscal year ending March 2027, operating revenue is forecast to reach a record high for the third consecutive term at 347.0 billion yen (up 8% year-on-year). Operating profit is projected at 70.0 billion yen (up 15% year-on-year), and net income attributable to owners of the parent is expected to be 35.0 billion yen (down 10% year-on-year).
FY2026 Performance Highlights
In the 'Leasing Business', amidst continued strong demand for office buildings, with the vacancy rate for large-scale office buildings in central Tokyo's five wards hovering in the low 1% range for over half a year, the new operation of 'Tokyo World Gate Akasaka Akasaka Trust Tower' and high occupancy of existing office buildings resulted in operating revenue of 102.1 billion yen. This represents a 5% year-on-year increase and a record high for the fourth consecutive term.
In the 'Hotel Business', against the backdrop of booming inbound tourism, which set record highs in both the number of foreign visitors and their spending for the second consecutive year following 2024, both city and resort hotels recorded high occupancy rates and average daily rates (ADR). In addition to the continued strong performance of luxury hotels in Tokyo from the previous term, earnings contributions from the luxury lifestyle hotel 'Equinox Hotel' in Manhattan, USA, acquired in October last year, and Asanoya Co., Ltd., operator of the long-established bakery 'Boulangerie Asanoya', resulted in operating revenue of 90.5 billion yen. This is a 13% year-on-year increase and a record high for the fourth consecutive term.
In the 'Real Estate Sales Business', condominium sales by Eslead Corporation continued to perform well, generating operating revenue of 100.4 billion yen, a 17% increase year-on-year.
In the 'Other Business', revenue growth driven by tenant construction works at 'Tokyo World Gate Akasaka Akasaka Trust Tower' resulted in operating revenue of 27.9 billion yen, a 41% increase year-on-year.
As a result of the above, operating revenue reached a record high of 321.0 billion yen, operating profit was 60.5 billion yen, and net income attributable to owners of the parent was 39.2 billion yen.
FY2027 Performance Forecast
In the 'Leasing Business', operating revenue of 120.0 billion yen is expected, aiming for a record high for the fifth consecutive term, driven by full-year operations of 'Tokyo World Gate Akasaka Akasaka Trust Tower' and full-year earnings contributions from the large-scale mixed-use building '35 Hudson Yards' in Manhattan, USA.
In the 'Hotel Business', operating revenue of 100.0 billion yen is projected, marking a record high for the fifth consecutive term, driven by solid operations of existing hotels, earnings contributions from the newly opened '1 Hotel Tokyo', and full-year earnings contributions from the 'Equinox Hotel' in Manhattan, USA.
The 'Real Estate Sales Business' is expected to generate 100.0 billion yen in operating revenue, centered on the residential sales business, while the 'Other Business' is projected to yield 27.0 billion yen.
As a result of the above, for the fiscal year ending March 2027, operating revenue is forecast to be a record high for the third consecutive term at 347.0 billion yen, operating profit at 70.0 billion yen, and net income attributable to owners of the parent at 35.0 billion yen.
[Mori Trust Group Consolidated Results] (April 1, 2025 - March 31, 2026)
For the fiscal year ending March 2026, operating revenue reached a record high of 321.0 billion yen (up 14% year-on-year), and operating profit was 60.5 billion yen (up 12% year-on-year). Supported by robust office leasing demand, the newly operational 'Tokyo World Gate Akasaka Akasaka Trust Tower' and the high occupancy of existing office buildings, combined with strong performance in domestic hotels capturing inbound demand, led to record-high revenues in both the leasing and hotel businesses.
Ordinary profit was 64.5 billion yen (up 7% year-on-year), and net income attributable to owners of the parent was 39.2 billion yen (up 6% year-on-year).
For the fiscal year ending March 2027, operating revenue is forecast to reach a record high for the third consecutive term at 347.0 billion yen (up 8% year-on-year). Operating profit is projected at 70.0 billion yen (up 15% year-on-year), and net income attributable to owners of the parent is expected to be 35.0 billion yen (down 10% year-on-year).
FY2026 Performance Highlights
In the 'Leasing Business', amidst continued strong demand for office buildings, with the vacancy rate for large-scale office buildings in central Tokyo's five wards hovering in the low 1% range for over half a year, the new operation of 'Tokyo World Gate Akasaka Akasaka Trust Tower' and high occupancy of existing office buildings resulted in operating revenue of 102.1 billion yen. This represents a 5% year-on-year increase and a record high for the fourth consecutive term.
In the 'Hotel Business', against the backdrop of booming inbound tourism, which set record highs in both the number of foreign visitors and their spending for the second consecutive year following 2024, both city and resort hotels recorded high occupancy rates and average daily rates (ADR). In addition to the continued strong performance of luxury hotels in Tokyo from the previous term, earnings contributions from the luxury lifestyle hotel 'Equinox Hotel' in Manhattan, USA, acquired in October last year, and Asanoya Co., Ltd., operator of the long-established bakery 'Boulangerie Asanoya', resulted in operating revenue of 90.5 billion yen. This is a 13% year-on-year increase and a record high for the fourth consecutive term.
In the 'Real Estate Sales Business', condominium sales by Eslead Corporation continued to perform well, generating operating revenue of 100.4 billion yen, a 17% increase year-on-year.
In the 'Other Business', revenue growth driven by tenant construction works at 'Tokyo World Gate Akasaka Akasaka Trust Tower' resulted in operating revenue of 27.9 billion yen, a 41% increase year-on-year.
As a result of the above, operating revenue reached a record high of 321.0 billion yen, operating profit was 60.5 billion yen, and net income attributable to owners of the parent was 39.2 billion yen.
FY2027 Performance Forecast
In the 'Leasing Business', operating revenue of 120.0 billion yen is expected, aiming for a record high for the fifth consecutive term, driven by full-year operations of 'Tokyo World Gate Akasaka Akasaka Trust Tower' and full-year earnings contributions from the large-scale mixed-use building '35 Hudson Yards' in Manhattan, USA.
In the 'Hotel Business', operating revenue of 100.0 billion yen is projected, marking a record high for the fifth consecutive term, driven by solid operations of existing hotels, earnings contributions from the newly opened '1 Hotel Tokyo', and full-year earnings contributions from the 'Equinox Hotel' in Manhattan, USA.
The 'Real Estate Sales Business' is expected to generate 100.0 billion yen in operating revenue, centered on the residential sales business, while the 'Other Business' is projected to yield 27.0 billion yen.
As a result of the above, for the fiscal year ending March 2027, operating revenue is forecast to be a record high for the third consecutive term at 347.0 billion yen, operating profit at 70.0 billion yen, and net income attributable to owners of the parent at 35.0 billion yen.
FAQ
How were Mori Trust's FY2026 financial results?
The company reported record highs with operating revenue of 321.0 billion yen and operating profit of 60.5 billion yen.
What drove the strong performance?
The operation of 'Tokyo World Gate Akasaka' and high domestic hotel occupancy due to inbound demand were key drivers.
What is the forecast for the next fiscal year (FY2027)?
The company expects continued growth with operating revenue of 347.0 billion yen and operating profit of 70.0 billion yen.