Mori Building

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%).

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.