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Mitsubishi Estate, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 2%, Highest in Three Terms

Mon Feb 9, 2026 3:30 pm JST Earnings

8802 Mitsubishi Estate Company, Limited 【J-GAAP】

Earnings Report

Mitsubishi Estate Company, Limited <8802> [TSE Prime] announced its financial results after the market closed on February 9th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 13.9% from the same period last year, reaching 189 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 1.9%, from the previous forecast of 270 billion yen to 275 billion yen (compared to 262 billion yen in the previous period), increasing the growth rate from 2.7% to 4.6%, reaches new record high for the first time in three terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 2.7%, from the previous forecast of 187 billion yen to 192 billion yen (compared to 183 billion yen in the same period of the previous year), increasing the growth rate from 2.1% to 4.8%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 22.8% from the same period last year, reaching 107 billion yen. The operating profit margin rose from 23.3% in the same period last year to 25.7%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 926,448 146,821 123,284 77,547 60.6 51.1 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 1,047,919 194,478 166,809 105,791 84.2 63.4 Feb 7, 2025 J-GAAP
Apr - Dec, 2025 1,210,073 227,374 189,967 156,532 127.5 69.1 Feb 9, 2026 J-GAAP
YoY +15.5% +16.9% +13.9% +48.0% +51.3%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 1,106,796 217,410 187,355 136,929 112.9 23 Nov 10, 2025 J-GAAP
Oct - Mar, 2025 New 1,106,796 222,410 192,355 161,929 133.5 23 Feb 9, 2026 J-GAAP
Revision Rate 0.0% +2.3% +2.7% +18.3% +18.3%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 1,850,000 325,000 270,000 195,000 160.8 46 May 12, 2025 J-GAAP
Mar, 2026 New 1,850,000 330,000 275,000 220,000 181.4 46 Feb 9, 2026 J-GAAP
Revision Rate 0.0% +1.5% +1.9% +12.8% +12.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 938,747 209,354 183,518 139,335 111.1 22 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,106,796 222,410 192,355 161,929 133.5 23 Feb 9, 2026 J-GAAP
YoY +17.9% +6.2% +4.8% +16.2% +20.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,504,687 278,627 241,158 168,432 132.0 40 May 10, 2024 J-GAAP
Mar, 2025 1,579,812 309,232 262,960 189,356 151.0 43 May 12, 2025 J-GAAP
Mar, 2026 Guidance 1,850,000 330,000 275,000 220,000 181.4 46 Feb 9, 2026 J-GAAP
YoY +17.1% +6.7% +4.6% +16.2% +20.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 406,854 94,600 87,367 55,770 44.4 23.3 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 531,893 114,754 96,151 83,565 66.7 21.6 May 12, 2025 J-GAAP
Apr - Jun, 2025 356,954 62,405 55,672 31,985 25.8 17.5 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 386,250 45,185 26,973 26,086 21.1 11.7 Nov 10, 2025 J-GAAP
Oct - Dec, 2025 466,869 119,784 107,322 98,461 80.2 25.7 Feb 9, 2026 J-GAAP
YoY +14.8% +26.6% +22.8% +76.5% +80.6%

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