Mori Trust

What Mori Trust does

Mori Trust Co., Ltd. (森トラスト株式会社) is a Tokyo-headquartered, privately held diversified Japanese real estate developer founded in June 1970. The company operates across nine business segments — office, commercial/retail, residential, overseas real estate, logistics facilities, urban co-creation/mixed-use development (まちづくり), hotels & resorts, investment business, and new field ventures — and manages a portfolio of 115 facilities (69 buildings/residential/commercial and 48 hotel/resort properties with 6,478 rooms) as of March 2026. Group sales reached ¥321 billion in FY2026 with 4,285 group employees, and the company operates through dedicated subsidiaries including Mori Trust Building Management, Mori Trust Hotels & Resorts, and Mori Trust Residential Services.

The company's revenue model combines one-time real estate development income (sale and lease of office, residential, and commercial properties in prime Tokyo locations such as Toranomon, Akasaka, Marunouchi, and Shinagawa, plus overseas assets including 35 Hudson Yards in Manhattan), recurring hotel and resort operations (including branded properties such as 1 Hotel Tokyo, Hotel Indigo Nagasaki, Edition, JW Marriott, and Hilton), and investment activities spanning REITs, film production funds, and emerging sector CVC. Distribution is exclusively direct B2B enterprise sales via dedicated contact channels for office leasing, commercial tenants, hotel partnerships, and land investment inquiries — pricing is not publicly disclosed. Supporting technology stack is conventional: corporate web platforms, Salesforce-based marketing automation, Firebase analytics, and a workspace management tool (Work Agile) and co-working brand (CozyWorks).

Mori Trust's strategy under its Advance2030 mid-term plan targets ¥1.2 trillion in investment through 2030, ¥330 billion in sales, and ¥70 billion in operating profit, with active expansion into international hotel partnerships (1 Hotels/Starwood, K2 Pictures film fund) and US real estate. The firm is currently led by Chairman Akira Mori and President/CEO Miwako Date following a June 2026 leadership transition.

Name

Mori Trust

Legal name

森トラスト株式会社 (MORI TRUST CO., LTD.)

Website

http://www.mori-trust.co.jp/

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

11–50 employees

Short description

Mori Trust is a Tokyo-headquartered, privately held Japanese diversified real estate developer founded in 1970, operating across office, retail, residential, hotel/resort, logistics, and investment segments, serving corporate tenants, hotel operators, and institutional investors through 115 facilities in Japan and the US.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Real Estate Property Managers (53131), Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)

SIC

Real Estate Investment Trusts (6798), Real Estate (6500), Real Estate Agents & Managers (For Others) (6531), Hotels & Motels (7011), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

REITs & Listed Real Estate Securities (FSAAAKAD), Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE), Specialty Real Assets / Niche Strategies (Marinas, Student Housing, Self-Storage, Life Science RE) (FSANAEAO)

Keywords

• Commercial real estate development
• Hotel and resort operations
• Mixed-use property development
• Property investment management
• Corporate office leasing

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Real Estate Development: Development and sale of office buildings, commercial facilities, residential properties, and mixed-use developments
2. Hotel & Resort Operations: Operation of hotels and resort facilities including branded hotels and luxury accommodations
3. Investment Business: Investment in REITs, film production funds, and other alternative investments

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Mori Trust develops, owns, and manages a diversified portfolio of commercial real estate including office buildings, retail facilities, residential properties, mixed-use complexes, logistics facilities, and overseas properties. The company also operates a hotel and resort business spanning luxury international brands, resort properties, and traditional Japanese inns. Its investment business manages REITs and alternative investments including film production funds.

Product overview

Mori Trust is a diversified Japanese real estate developer operating a multi-segment platform across commercial real estate, hospitality, and investment businesses. The core real estate segments include office buildings (オフィス), commercial/retail facilities (商業), residential properties (住宅), overseas real estate (海外不動産), logistics facilities (物流施設), and urban co-creation/mixed-use development (まちづくり). The hospitality division operates hotels and resorts including branded properties such as 1 Hotel Tokyo, Hotel Indigo, Edition, JW Marriott, and Hilton, plus traditional Japanese inns. Emerging businesses include wellness services, cafe/restaurant operations, childcare facilities (ナーサリールーム ミライズ), co-working spaces (CozyWorks), and workspace management tools (ワークアジャイル). Investment operations cover REITs and innovation/corporate venture investments. Key landmark projects include Tokyo World Gate (mixed-use office/commercial/hotel complex), 35 Hudson Yards in Manhattan, and multiple Trust City developments across Tokyo and regional cities.

Differentiator

Problem solved

Functional benefit

Products and services

• Office Business (オフィス事業) Development and management of office buildings in prime Tokyo locations including Toranomon/Kamiyacho, Akasaka/Tameikesanno, Marunouchi/Kyobashi, Shimbashi/Shiodome/Ginza, Shinagawa/Osaka, Osaka, and Sendai areas. Serves large corporations seeking premium office space in Tokyo metropolitan area.
• Retail Business (商業事業) Commercial facility development and management across prime Tokyo areas, serving retail tenants in mixed-use and standalone commercial buildings.
• Residence Business (住宅事業) Residential property offerings including branded service residences, rental apartments, and condominiums for sale. Targets affluent individual consumers and families seeking high-quality housing in prime locations.
• Hotels & Resorts Business (ホテル＆リゾート事業) Hotel and resort development and management covering luxury hotels, resort properties, La Foret Hotels brand, and traditional Japanese inns. Portfolio includes 1 Hotel Tokyo, Hotel Indigo Nagasaki, Edition hotels, JW Marriott Hotel Nara, and Hilton Okinawa Sesoko Resort. 48 facilities with 6,478 rooms.
• Investment Business (投資事業) Real estate investment activities including REIT management and innovation/corporate venture investments targeting emerging sectors and new business models. Manages Mori Trust Hotel REIT Investment Corporation (listed 2017) and alternative investments.
• New Field Business (新領域事業) Emerging business ventures including wellness services, cafe/restaurant operations, nursery/childcare facilities (Nursery Miraiz), workspace management tool Work Agile, and startup collaboration programs.
• Overseas Real Estate Business (海外不動産事業) International real estate investment and development, including the 35 Hudson Yards acquisition in Manhattan, New York (purchased November 2025 for $540-541 million).
• Logistics Facilities Business (物流施設事業) Development and management of logistics and warehouse facilities as part of Mori Trust's diversified real estate portfolio.
• CozyWorks Shared Office Shared office and co-working space brand offering flexible workspace solutions with a 'work like you live' concept. Targets professionals and businesses seeking flexible workspace.
• Work Agile (ワークアジャイル) Workspace management tool for office space optimization and hybrid work coordination. Targets enterprises seeking office utilization optimization.
• 1 Hotel Tokyo 211-room luxury lifestyle hotel operated under the 1 Hotels brand (mission-driven luxury founded by Barry Sternlicht, managed by Starwood Hotels). First 1 Hotels property in Japan and Asia-Pacific market. Targets affluent travelers seeking sustainability-focused luxury accommodations.
• Trust City Conference (トラストシティカンファレンス) Conference and meeting room rental service at trust city properties in Tokyo. Targets businesses and event organizers needing professional meeting spaces.
• Nursery Miraiz (ナーサリールーム ミラiz) Nursery and childcare facility operated as part of new field business initiatives. Targets working parents and families in Mori Trust's mixed-use developments.

Quantifiable outcome

• 3,210億円 in group sales (FY March 2026)
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability2 records

Partnerships

Four partnerships are on record, tiered core, minor and major.

• 1 Hotels / Starwood HotelscoreStrategic or Co-development Partner · 5 March 2026Collaboration between 1 Hotels (mission-driven luxury lifestyle brand founded by Barry Sternlicht, managed by Starwood Hotels) and Mori Trust for 1 Hotel Tokyo - the brand's first property in Japan and Asia-Pacific market. Located in Akasaka Trust Tower as part of Tokyo World Gate Akasaka mixed-use development. Property achieved CASBEE S certification, Japan's highest environmental rating.
• K2 Pictures Inc.minorStrategic or Co-development Partner · 26 February 2026Mori Trust invested ¥300 million in K2 Pictures' film production fund to support Japanese cinema and attract international investors. Both companies aim to boost the industry through new content production and collaboration.
• Mitsubishi UFJ Bank / Development Bank of Japan / Tokyu Land CorporationcoreStrategic or Co-development Partner · 26 February 2026Mitsubishi UFJ Bank invested over ¥500 million as anchor investor in K2 Pictures film production fund. Development Bank of Japan, Tokyu Land Corporation, Mori Trust, and regional banks including Yamanashi Chuo Bank also participated. Fund targets IRR exceeding 20% with over 50 films planned over 8 years.
• Related Companies / Oxford PropertiesmajorStrategic or Co-development Partner · 18 November 2025Mori Trust acquired 38 stories (hotel, office, retail, fitness portions) of 35 Hudson Yards from Related Companies and Oxford Properties for $540 million. This is Mori Trust's second major investment in Manhattan in 2023.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mitsubishi Estate: Japan's largest diversified real estate developer with a portfolio spanning office, retail, residential, and hotels — including Marunouchi, Tokyo's premier CBD, which directly competes with Mori Trust's Toranomon and Marunouchi assets.
• Mitsui Fudosan: Major Japanese diversified real estate developer with a comparable multi-segment platform spanning office, retail, residential, hotels (including luxury partnerships), and mixed-use developments across Japan and internationally.
• Mori Building: Tokyo-focused luxury real estate developer behind Roppongi Hills, Toranomon Hills, and other large mixed-use complexes — direct competitor for premium Tokyo tenants, hotel partnerships, and marquee mixed-use developments.
• Tokyu Land Corporation: Diversified Japanese real estate developer and investor active in office, residential, retail, hotels, and REITs. Co-invested with Mori Trust in the K2 Pictures film fund (February 2026) and operates similar resort and urban mixed-use assets.
• Sumitomo Realty & Development: Major Japanese real estate developer with a comparable multi-segment platform across office leasing, residential, commercial facilities, and resort properties — competing for institutional tenants and capital across Japan.
• Tokyo Tatemono: Tokyo-centric real estate developer focused on office buildings in central Tokyo business districts — directly comparable to Mori Trust's Toranomon, Akasaka, and Marunouchi office portfolio and similar tenant base.
• Hulic: Tokyo-focused real estate developer specializing in office and mixed-use properties near train stations — competing with Mori Trust for premium central Tokyo locations and institutional tenants.
• NTT Urban Development: Real estate arm of NTT Group developing office, residential, and mixed-use properties in central Tokyo — directly comparable office portfolio and tenant base to Mori Trust's central Tokyo assets.

Broad incumbents

• Daiwa House Industry: Japan's largest construction-linked real estate company with extensive operations in logistics, commercial, and residential — a broader incumbent overlapping with Mori Trust's logistics facilities and commercial development segments.

Regional players

• 1 Hotels (Starwood Capital Group): Mission-driven luxury lifestyle hotel brand partnering with Mori Trust for 1 Hotel Tokyo (opened March 2026, first Asia-Pacific property) — a hotel operator/partner rather than developer, but the closest comparable operator given the brand's footprint in marquee U.S. markets and similar positioning to Mori Trust's U.S. hotel interests.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mori-trust-co-ltd-

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mori Trust