Mori Trust

Mori Trust Co., Ltd. (森トラスト株式会社, Mori Torasuto Kabushiki Gaisha) is a Japanese real estate developer.

Mori Trust Co., Ltd.
Native name
森トラスト株式会社
IndustryReal estate development
PredecessorMori Building Development Co., Ltd. (1970 - 1999)
Founded10 June 1970[1]
Headquarters
Toranomon, Minato, Tokyo
,
Japan
Area served
Japan
Key people
Akira Mori ( Chairman of the Board)[1]
Miwako Date (President & CEO)
ServicesReal estate development, Office leasing
Revenue¥92.1 billion (FY 2013)[1]
¥25.3 billion (FY 2013)[1]
¥19.3 billion (FY 2013)[1]
Websitemori.co.jp

History

Mori Trust was founded in 1970 as Mori Building Development, a subsidiary of the Mori Building group founded by Taikichiro Mori. Following his death in 1993, his two sons Minoru Mori and Akira Mori disagreed as to how to continue the business, with Minoru wishing to continue the company's focus on existing properties and new large-scale urban projects, and Akira wishing to expand the company's portfolio into more small-scale office and leisure properties. This led to a split of the Mori Building group, with Akira Mori taking over the Mori Building Development entity and renaming it "Mori Trust" in 1999. Mori Trust properties that predated the 1999 schism were originally named "Hills" or "Mori Building" but were renamed to "Trust Tower" or "MT Building" around 2002. Mori Building, which spent years planning and completing the Roppongi Hills complex in central Tokyo, focuses on multibillion-dollar complexes; Mori Trust sticks to single or twin structures.[2]

Mori Trust announced in December 2015 that it would begin investing in the United States, starting with the $658 million acquisition of two office buildings in Boston from Liberty Mutual. The company was also reportedly examining potential investments in New York, Washington and other East Coast cities, with a total budget of 100 to 200 billion yen.[3]

Akira Mori has selected his only daughter Miwako Date, who served as president of Mori Trust Hotels & Resorts, to take over the Mori Trust business, which she did in 2016.[4][5] Akira Mori is now assuming the role of Chairman of the Board of Mori Trust.[6]

Major office properties
Tokyo
Sendai
  • Sendai Trust Tower

Major hotel properties
  • Laforet Hotels chain
  • Rihga Royal Hotels chain (minority partner)
  • Conrad Tokyo
  • Courtyard by Marriott Tokyo Station
  • Westin Sendai
  • InterContinental Yokohama Grand
  • Shangri-La Tokyo
  • Sunroute Plaza Shinjuku
  • Iraph Sui
  • Suiran[7]

References
  1. "Corporate Data". Mori Trust. Archived from the original on 16 May 2013. Retrieved 18 July 2013.
  2. "Billionaire's Daughter Turning CEO Shows What Japan Lacks". Bloomberg L.P.
  3. "Japan's Mori Trust to acquire office buildings in Boston". Nikkei Asian Review. December 8, 2016. Retrieved December 9, 2016.
  4. Chu, Kathleen; Kuwako, Katsuyo (2015-05-03). "Mori Trust heir shows how women can shine". The Japan Times Online. ISSN 0447-5763. Retrieved 2016-12-09.
  5. "Mori Trust Press Release". Mori Trust. Retrieved 28 April 2019.
  6. "Mori Trust Press Release". Mori Trust. Retrieved 28 April 2019.
  7. "Mori Trust heir shows how women can shine". Japan Times.


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