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Notice of Partial Sale of a Rental Property

Dec. 25, 2024


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Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) today decided to make a partial sale of the rental property, Otemachi One Tower, together with a corresponding part of land. These assets are part of the integrated development project, Otemachi One.

This transaction is a partial monetization exercise for the rental property, which has been developed as part of the real estate development, leasing, and operations business by the Innovation & Corporate Development segment.

Mitsui will continue its operation of Otemachi One, which consists of the ownership and leasing operations of its Head Office building, MITSUI & CO. Building, and the leased area of Otemachi One Tower. Through the vitalization of the area and enhancement of the asset value, Mitsui will further strengthen its stable earnings base.

1. Overview of the Transferred Property

(1) Properties Part of Otemachi One Tower and a corresponding part of land (equivalent to 8.21% of the entire Otemachi One property)
(2) Location 2-1, Otemachi 1-chome, Chiyoda-ku, Tokyo
(3) Site area Approx. 20,900 ㎡ (the entire Otemachi One property)
(4) Total floor area Approx. 358,700 ㎡ (the entire Otemachi One property)
(5) Construction completion date February 23, 2020

Note: Although the transfer price and book value are not publicly disclosed, an appropriate price determined through third-party appraisals and other relevant processes has been applied.

2. Overview of Transferee

(1) Name Godo Kaisha Spring 4
(2) Location 4-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo
(3) Description of business Acquisition, ownership, and disposal of real estate trust interests, and other ancillary and related business
(4) Date of establishment October 4, 2024
(5) Relationship with Mitsui Mitsui & Co., Realty Management Ltd., which is Mitsui’s consolidated subsidiary (Mitsui: 75.01%), has been entrusted with the asset management operations of Godo Kaisha Spring 4. There is no capital relationship between Mitsui (including its consolidated subsidiaries) and Godo Kaisha Spring 4.

3. Transfer Schedule

(1) Date of decision making December 25, 2024
(2) Date of agreement signing December 25, 2024
(3) Completion date of transfer December 25, 2024

4. Outlook

As a result of the above transfer, Mitsui will record a profit on the sale of the fixed asset for the third quarter of the fiscal year ending March 31, 2025. The profit has been reflected in Mitsui’s forecast for the fiscal year ending March 31, 2025 announced on November 1, 2024.

Notice:
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui’s current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest Annual Securities Report and Semi-annual Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements. This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Investor Relations Division
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Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-5912-0321
Facsimile: +81-3-3285-9819
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