August 31, 2015

Press Release

Mitsubishi Estate Co., Ltd.

Mitsubishi Estate announces

Tokiwabashi District Redevelopment Project A large-scale redevelopment encompassing over three hectares adjacent to Tokyo Station

Mitsubishi Estate Co., Ltd. (hereinafter “Mitsubishi Estate”) along with the appropriate rights holders announces

that they have initiated the urban planning procedures for the “Tokiwabashi District Redevelopment Project”

(hereafter “the Project”), a large-scale redevelopment project in the Tokiwabashi District, an area adjacent to the

Tokyo Station. After the deliberation of Tokyo City Planning Council and the agreement of National Strategic

Special Zone Advisory Council, the Project will proceed to obtain authorization by Prime Minister Shinzo Abe, as a

designated project for the National Strategic Special Zone Program within Tokyo.

The Project is set to encompass 3.1 hectares – the largest in the vicinity of Tokyo Station. The project will comprise

of four developments carried out in stages over a 10-year period, while maintaining the infrastructure functions

including sewage facilities and electrical substations within the district. Additionally, the Project entails the

development of a 390m super high-rise tower that will become a new landmark for the city of Tokyo, and a

spacious plaza measuring approximately 7,000m2 to support the area as a bustling global center.

Through the Project, Mitsubishi Estate will drive forward Tokyo’s urban regeneration and contribute to its

international competitiveness.

Contributions to urban regeneration through the Project

1. Renewal of urban infrastructure (sewage pumps, etc.), creation of a pedestrian network,

open plaza, etc.

2. Creation of a hub to enhance international competitiveness (finance/ business exchange

and urban tourism)

3. Creation of superior disaster management and an eco-conscious urban environment

Perspective image: Aerial view of planned area from North Otemachi

Tokyo

Station

*There may be changes to the designs of the exterior and the large-scale plaza through discussions going forward.

Building A

Building C

(and plaza)

Building D

Building B

Building B Building A

Exterior image (from the Nihonbashi River side)

Plaza image (from Tokyo Station side)

Business Overview

Location Otemachi 2-chome, Chiyoda-ku and Yaesu 1-chome, Chuo-ku, Tokyo

Site area Approx. 31,400m2

Total floor area Approx. 680,000m2

Dimensions of

each structure Building A Building B Building C Building D

Primary use Office, retail, parking Office, retail, parking

Retail, electrical

substation, parking

Office, sewage pumps,

parking

Total floor area Approx. 140,000m2 Approx. 490,000m

2 Approx. 20,000m

2 Approx. 30,000m

2

No. of

floors/height

37 aboveground,

5 belowground /

Approx. 230m

61 aboveground,

5 belowground /

Approx. 390m

4 belowground

9 aboveground,

3 belowground /

Approx. 65m

Start of

construction

(scheduled)

FY2019 FY2024 FY2019 FY2018

Completion of

construction

(scheduled)

FY2022 FY2028 FY2028 FY2023

Project

procedures

Land readjustment, urban area redevelopment

Operators Mitsubishi Estate Co., Ltd., Tokyo Metropolitan Government Bureau of Sewerage, Daiwa

Securities Group Inc., Isetan Mitsukoshi Holdings Ltd., Tokyo Electric Power Company, Inc.,

Urban Renaissance Agency, Otemachi Development Co., Ltd., others

Schedule

Within FY2016 Receive authorization from Prime Minister for National Strategic Special Zone Program

(scheduled)

FY2017 Approval of the project / approval procedures for exchange of rights

FY2018 Start of construction on Building D (launch of redevelopment operation)

FY2019 Start of construction on Building A, Building C

FY2022 Completion of construction on Building A

FY2023 Completion of construction on Building D

FY2024 Start of construction on Building B

FY2028 Completion of construction on Building B, Building C (all construction completed)

*The details above are subject to change through discussion going forward.

Plan map

Diagram of current site Diagram of planned site

Project Features

1. Renewal of urban infrastructure

(1) Renewal and redevelopment of sewage pumps, electrical substation and a parking lot

Through constant redevelopment and phased reconstruction, we intend to rebuild key infrastructure

functions with no disruption to operations.

(2) Connection to Tokyo Station and its surrounding area via a underground pedestrian network

We intend to create an underground pedestrian network running east and west, and underground access to

the intersection of Eitai-dori Street and the Nihonbashi Exit of Tokyo Station, thereby strengthening the

access of the areas surrounding the station.

(3) Redevelopment of Tokiwabashi Park and creation of integrated plaza and new riverfront area (total area

exceeding 1 hectare)

2. Enhancement of Tokyo’s international competitiveness

(1) Contribution to Tokyo’s competence as a global financial hub

We intend to strengthen the financial axis from the Otemachi to Kabutocho, both districts with a

concentration of financial entities, through the creation of financial and business exchange. This is in line

with the Tokyo Metropolitan Government’s intentions for the “Tokyo International Financial Center.”

(2) Enhancement of Tokyo’s urban tourism appeal

We intend to create urban tourism facilities, capitalizing on Tokyo Station’s convenient transportation

networks.

3. Creation of superior disaster management and an eco-conscious urban environment

(1) Base for disaster management activity and accommodation of evacuees

Through the creation of a large-scale plaza and emergency power amenities, the project will serve as a key

hub in the unlikely event of a disaster with measures in place to support those unable to return home.

(2) Introduction of secure energy system and a backup water supply system

Through the introduction of high-efficiency cogeneration systems and dual-fuel compatibility emergency

power generators, in conjunction with emergency wells to provide water for miscellaneous uses (e.g.

flushing toilets), we aim to reduce disruption even when disaster strikes.

(3) Reduction in environmental load through eco-conscious efforts

We intend to achieve level 3 (PAL, ERR) certification from submission to the Building Environment Plan

of the Tokyo Metropolitan Government, and an S rank under the CASBEE evaluation system.