Mori Trust
| Industry | Real estate development |
|---|---|
| Predecessor | Mori Building Development Co., Ltd. (1970 - 1999) |
| Founded | 10 June 1970[1] |
| Headquarters | Toranomon, Minato, Tokyo, Japan |
Area served | Japan |
Key people | Akira Mori (President & CEO)[1] |
| Services | Real estate development, Office leasing |
| Revenue | \92.1 billion (FY 2013)[1] |
| \25.3 billion (FY 2013)[1] | |
| \19.3 billion (FY 2013)[1] | |
| Website | mori.co.jp |
Mori Trust Co., Ltd. (森トラスト株式会社 Mori Torasuto Kabushiki Gaisha) is a Japanese real estate developer.
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]
Present time Mori is planning hotels renovation new resorts development in Japan, as for Miwako Date, the new executive managing director and the president of Mori Trust Hotels & Resorts Co. and the daughter of Akira Mori. In 2015 the company plans an opening of a luxury hotel in Kyoto.
As for Bloomberg, Mori Trust, which operates about 30 hotels, is introducing more international hotels in order to capture the existing demand. In 2014 three hotels under new foreign brands were opened in Japan, five years after the opening of Shangri-La Hotel Tokyo in 2009, according to broker Jones Lang LaSalle Inc.
Major office properties
- Tokyo
- Tokyo Shiodome Building
- Marunouchi Trust City
- Akasaka Twin Tower
- Gotenyama Garden
- Shiroyama Trust Tower
- 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
- Suiran (opened in Kyoto in collaboration with Starwood Hotels & Resorts Worldwide Inc.) [3]
References
- 1 2 3 4 5 "Corporate Data". Mori Trust. Retrieved 18 July 2013.
- ↑ "Billionaire’s Daughter Turning CEO Shows What Japan Lacks". Bloomberg L.P.
- ↑ "Mori Trust heir shows how women can shine". Japan Times.