Mori Building

Retail & mixed-use property

The Japan read

From the company's own filing for Full year to March 2026 · reported 2026-05-15 · the filing

JapanMany Hills shopping facilities posted record sales despite slowing inbound spending, Mori says, propped up by its Hills App membership; Azabudai Hills and Toranomon Hills shops and restaurants did well as more office workers arrived.
InboundHotel revenue — Andaz Tokyo, Hotel Toranomon Hills and Janu Tokyo — rose to ¥44.4bn from ¥41.6bn (floortok's arithmetic: +6.7%), which Mori credits to more overseas visitors, high occupancy and higher room rates.
Not disclosedMori gives no Hills retail sales totals, hotel occupancy, room rates or overseas-guest shares, only qualitative comments, so its retail and hotel trends cannot be sized from its own reports.
StoresAzabudai Hills Residence B was completed in October 2025 and was the focus of the year's ¥55.8bn capital spending; leased office and shop space edged up to 979,695㎡ from 969,867㎡.

Other callouts in the filing

OutlookFor the year to March 2027 Mori expects leasing profit to fall to ¥45.5bn from ¥48.5bn, with growth coming from property sales (¥66.0bn, from ¥56.1bn) and hotels and clubs (¥8.5bn, from ¥8.1bn).

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

floortok holds 2 reported periods for this company.

Full year to March 2026

Reported 2026-05-15

Operating revenue¥411.1bn+6.5%

Operating profit¥98.0bn+16.2%

Net income¥53.1bn+5.1%

Mori Building is privately held and not listed, but it publishes its results twice a year — and the year to March 2026 set records for revenue and operating profit. Leasing and property management, the business behind the Hills' offices, shops and homes, grew revenue 8.2% to ¥255.9bn on rising rent at Azabudai Hills and Toranomon Hills Station Tower, and the hotels, members' clubs and golf arm rose 6.8% to ¥54.6bn. Group operating revenue rose 6.5% to ¥411.1bn, operating profit 16.2% to ¥98.0bn and net income 5.1% to ¥53.1bn; for the year to March 2027 the company guides to ¥437.0bn of revenue (+6.3%) and ¥106.5bn of operating profit (+8.7%).

H1 (Apr–Sep 2025) · Year-to-Date

Reported 2025-11-18

Operating revenue¥229.0bn+9.7%

Operating profit¥68.1bn+29.6%

Net income¥43.7bn+30.1%

Mori Building's first half to September 2025 was a record for a half year. Leasing and property management grew revenue to ¥124.6bn from ¥115.9bn on rising rent at Azabudai Hills and Toranomon Hills Station Tower, and sales of homes and investor property rose to ¥70.8bn from ¥59.4bn, led by the Azabudai Hills residences. Group operating revenue rose 9.7% to ¥229.0bn, operating profit 29.6% to ¥68.1bn and net income 30.1% to ¥43.7bn.

StoresLeasing and property management revenue grew to ¥124.6bn from ¥115.9bn on rising rent at Azabudai Hills and Toranomon Hills Station Tower.
SegmentSales of homes and investor property rose to ¥70.8bn from ¥59.4bn, led by the Azabudai Hills residences.
BasisMori Building is unlisted and reports twice a year; there are no quarterly figures.