Mori Trust

Retail & mixed-use property

The Japan read

From the company's own filing for Full year to March 2026 · reported 2026-05-21 · the filing

InboundHotel revenue hit a record ¥90.6bn, up 13.5% (floortok's arithmetic), as city and resort hotels ran at high occupancy and room rates on record inbound travel and Tokyo's luxury hotels stayed strong.
StoresTokyo World Gate Akasaka's second phase was completed in October 2025, and 14 new shops and restaurants opened there from February 2026, taking the retail floor to 18.
Not disclosedThe release gives no occupancy, room-rate or overseas-guest figures, and its hotel revenue includes Manhattan's Equinox Hotel, bought in November 2025, without a Japan split.

Other callouts in the filing

SegmentLeasing revenue reached a record ¥102.1bn, up 5.9% (floortok's arithmetic), on the new Akasaka Trust Tower and high occupancy in existing offices.
OutlookFor the year to March 2027 it guides to ¥347.0bn of revenue (+8%) and ¥70.0bn of operating profit (+15%), with hotel revenue of ¥100.0bn helped by the new 1 Hotel Tokyo, but net income down 10% to ¥35.0bn.

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

Full-year revenue

floortok holds 2 reported periods for this company.

Full year to March 2026 · Year-to-Date

Reported 2026-05-21

Operating revenue¥321.1bn+14.0%

Operating profit¥60.6bn+12.1%

Net income¥39.2bn+6.8%

Mori Trust — the private developer behind Tokyo World Gate, whose group runs hotels including Conrad Tokyo and the two Tokyo EDITIONs — set records in the year to March 2026. Hotel revenue rose 13.5% to ¥90.6bn on record inbound travel and leasing 5.9% to ¥102.1bn as Akasaka Trust Tower came on stream (floortok's arithmetic on the company's figures); group revenue rose 14.0% to ¥321.1bn, operating profit 12.1% to ¥60.6bn and net income 6.8% to ¥39.2bn. It expects hotel revenue to reach ¥100bn this year, helped by the new 1 Hotel Tokyo.

Full year to March 2025 · Year-to-Date

Reported 2025-05-15

Operating revenue¥281.6bn+7.1%

Operating profit¥54.0bn+0.3%

Net income¥36.7bn−11.2%

Mori Trust's revenue rose 7.1% to a record ¥281.6bn in the year to March 2025, led by hotels (+20.1% to ¥79.8bn) and leasing (+4.9%); operating profit edged up 0.3% to ¥54.0bn, and net income fell 11.2% to ¥36.7bn without the previous year's office-building sale.

InboundHotel revenue rose 20.1% to a record ¥79.8bn on record inbound travel and strong Tokyo luxury hotels, plus the Manpei Hotel's grand reopening in October 2024.