Sustainability of the Mitsubishi Estate Group and Society: Four Key Theme
Related Initiatives (Respect for people)
Related Initiatives (Respect for people)
Related Initiatives
Developing Residences Catering to Diverse Lifestyles
Mitsubishi Estate Residence is expanding asset development businesses other than condominiums in accordance with the declining birthrate and aging population and increasingly diverse lifestyles. Positioning the development of housing for seniors, which offers high-quality residences and enriched lifestyles to seniors, as a new business pillar, it is currently developing 20 properties in the Tokyo Metropolitan area as healthcare assets and will promote residential developments under a new brand together with HIMEDIC, Inc. (Resorttrust Group), a company operating Senior Lifestyle and Medical businesses, with which it concluded a joint venture agreement in November 2023. Mitsubishi Estate Residence also plans to open the Kamakura Iwase 1-chome Project—work on which began in October 2023—as a commercial assisted living residence, the company’s first joint development with Sompo Care Inc., which operates a nursing care business in the SOMPO Group, accelerating its contribution to the creation of new lifestyles for seniors.
Meanwhile, as ensuring access to education for all students and developing environments to facilitate it becomes increasingly important, Mitsubishi Estate Residence has developed seven residences for students since it first took part in the development of such residences in 2018. Along with a plan emphasizing privacy in accordance with the times, the company supports the enriched lifestyles and future endeavors of students through the provision of nutritious meals with the establishment of a dining lounge and the creation of facilities to encourage interactions among students.
Charm Premier Grand Gotenyama (commercial assisted living facility)
The Park Hive Sendai Hasekura (student condominium)
Promoting a Co-Living Business Tailored to Increasingly
Diverse Workstyles and Lifestyles and Globalization
Mitsubishi Estate expects that increasingly diverse lifestyles globally will lead to growing demand for rental apartments offering greater flexibility. With this in mind, it established a joint venture company with Singapore-based Hmlet Pte. Ltd. (currently Habyt Pte. Ltd.) in 2019, taking the lead in launching a co-living business in Japan to incorporate a community development concept into rental apartments for medium- to long-term residents. In the wake of the COVID-19 pandemic, with the number of foreign residents in Japan exceeding the pre-pandemic level, Japan has become an attractive place to stay for digital nomads. Non-Japanese residents from more than 50 countries occupy approximately 80% of the roughly 850 rooms in operation at Hmlet’s 45 locations (as of June 2024).
In anticipation of the further expansion of these new ways of living, Mitsubishi Estate concluded an exclusive licensing agreement in Japan with Blueground Holdings Ltd., which operates over 15,000 rooms in 17 countries and 34 cities globally, to bolster its flexible rental apartment business (flexible living business), which includes the co-living business.
By further expanding our flexible living business, we will meet demand arising from increasingly diverse lifestyles in Japan and overseas.
Hmlet Sangenjaya
Blueground Park Place Mita
Aiming to Create Communities and a Society Where
Everyone Can Play Active Roles with Peace of Mind
Mitsubishi Estate, which aims to promote diversity, equity, and inclusion (DE&I) in society through urban development, is accelerating a variety of measures on the basis that further understanding and promotion of DE&I within the Company is essential to achieving this goal. In January 2024, recognizing that promoting the active role of women is critical to conducting management and operating businesses, Mitsubishi Estate became the first real estate company in Japan to endorse the Women’s Empowerment Principles (WEPs), clarifying the position of gender equality in its management by signing a statement declaring that it will act based on the WEPs. Establishing high-level corporate leadership in gender equality is one of the WEPs. Mindful of this, to identify issues through opportunities for members of the management team to communicate with frontline employees, Mitsubishi Estate held a luncheon in March 2024 where employees and executives could talk freely about future career plans, issues, and other topics. The Company plans to hold several such gatherings going forward.
Meanwhile, as of April 2024, we regard same-sex partners and their families in the same way as heterosexual marriages and define them as such in various internal programs.
In this way, we are creating vibrant workplaces through respect for individual human rights and diverse ways of thinking, as set forth in the Mitsubishi Estate Group Code of Conduct.
Luncheon with outside directors and employees
Luncheon with President & CEO Nakajima and employees
Promoting Initiatives to Establish a Sustainable Supply Chain
Consultation and grievance contact service for non-Japanese workers
The Mitsubishi Estate Group has led the way in the real estate industry in advancing various measures aimed at strengthening supply chain management from the perspectives of business and human rights and of environmental conservation. In fiscal 2023, along with its usual surveys using a questionnaire, the Group conducted in-person interviews of those working on construction sites. Through these efforts, we endeavor to gain a better understanding of the circumstances in the supply chain. In addition, believing that it has a duty to identify risks in relation to construction materials, the Group has begun conducting traceability surveys with the cooperation of suppliers for construction materials designated as high risk through the due diligence process. Moreover, we have begun the introduction of a consultation and grievance contact service for non-Japanese workers, which we are expanding steadily at relevant sites, to establish a grievance mechanism for non-Japanese workers employed at construction sites.
Meanwhile, the Construction and Real Estate Human Rights Due Diligence Study Group, established in 2018 with Mitsubishi Estate as the organizing company, transitioned to become the Construction and Real Estate Human Rights Due Diligence Promotion Council in 2023 to further develop its activities, with Mitsubishi Estate spearheading the council’s efforts. The council conducts surveys and research continuously to raise the level of human rights throughout the industry through collaboration among companies that face the same issues in the construction and real estate industry.
Although the establishment of our ideal supply chain remains a work in progress, we will fulfill our responsibility as a leading company in the industry and continue working to contribute to the sustainable development of our supply chain and of society.
