July 2, 2018

PRESS RELEAS

Mitsubishi Estate Co., Ltd

Mitsubishi Estate Co., Ltd. (“the Company”) announced the start of a full-scale renovation of the Otemachi

Building (1-6-1, Otemachi, Chiyoda-ku, Tokyo), including its outer walls and interior space, which was

constructed in 1958. In addition to work on the building itself, the Company will also aim to introduce

functions for exchange between start-up businesses and large-scale companies to accelerate innovation,

transforming the new Otemachi Building into a business creation base.

The Otemachi Building is directly linked to Otemachi Station, which features access from five subway lines

(outstanding accessibility in terms of transport), and its floor plan is suitable for leasing space divided into

small areas. Taking advantage of these characteristics, it was decided to undertake renovation to attract many

start-up businesses and the most advanced engineering teams of large-scale companies and create diversified

exchange in the Marunouchi area.

Beginning with the reconstruction of the Marunouchi Building, the Company has engaged in many

redevelopment projects in the Marunouchi area. This project adopts renovation to update the functions, rather

than reconstruction. It aims to increase options for offices and meet the various needs of tenants. At the same

time, social demand for the utilization of the existing stocks will also be fulfilled. The renovated building will add

new color to the cityscape, along with the many skyscrapers that have increased with the progression of

redevelopment.

In addition to the business support facilities in the Marunouchi area, such as EGG JAPAN and Global Business Hub Tokyo,

Japan's first Fintech base, FINOLAB, located in the Otemachi Building, will be expanded and TechLab (tentative name), which

focuses on AI, IoT, robotics and other similar technologies, will open jointly with SAP Japan Co., Ltd. ("TechLab"). The

Company will continue to promote the realization of an ideal town with potential that stimulates the advancement of people and

enterprises, OPEN INNOVATION FIELD.

Building after renovation (LAB zone on the east side)

Challenge of the 100-year-old Building

Mitsubishi Estate Co., Ltd. starts large-scale renovation of Otemachi Building

- Promoting the realization of OPEN INNOVATION FIELD by establishing TechLab (tentative name) and expanding FINOLAB -

TechLab

<Features of the renovation >

Facilities

Renewal of outer

walls/interiors design

The exterior design will reflect the individual stories of Daimyo Kouji, Naka

Dori and Hibiya Dori.

Creation of intended effect

through the function of Naka

Dori

Creation of the intended unobstructed view effect of the passage that runs

through the area from Marunouchi Naka Dori to Otemachi Naka Dori inside and

outside the building

Construction of

lounge/terrace areas for

workers

Construction of new lounge/terrace for business support for and the promotion

of exchange among office workers on the 7th floor

Utilization of roof space The roof space surrounded by taller skyscrapers will available as an open and

creative place for resting

Functions

Positioning the east side as

LAB zone

The east side will be positioned as LAB zone to stimulate leasing by unique

enterprises

Opening of TechLab Opening of TechLab, the collaboration space for business creation, directed at

offices engaged in the most advanced projects for large-scale companies,

venture businesses, design firms and others, jointly with one of the world's

largest software companies, SAP SE

Extension of FINOLAB Extension of the office area of FINOLAB, Japan's first FinTech base, to meet

the demand of rapidly-growing startup businesses (floor area will increase from

approx. 650 tsubo to approx. 1,200 tsubo)

Opening of KPMG Ignition

Tokyo

One of the world's big-four accounting firms (Big 4), KPMG, will open a new

base to stimulate innovation by Japanese enterprises utilizing digital techniques,

KPMG Ignition Tokyo

Use for the development

department of Toyota Motor

Corporation

Toyota Motor Corporation will open a base for the development of peripheral

technologies that support autonomous driving while the corporation transforms

into a mobility company, maintaining and advancing its existing business

[History of redevelopment in the Marunouchi area and background on the renovation]

The Company started its first development of the Marunouchi area in 1890. As modernization progressed in the Meiji era,

offices were constructed from red bricks. During the second development in the 1950s to 1970s, the old buildings were

reconstructed into large-scale buildings, meeting the demand for offices in a period of high economic growth.

In 1995, the Company announced the reconstruction of the former Marunouchi Building and started the third development. In

2001, the Company decided that the ideal for the area including Otemachi, Marunouchi and Yurakucho should be a town with

the most interactions in the world and carried out redevelopment projects on 12 buildings over 15 years, from 2002. To convert

the area from a town for business to a new town with diversity, the walkways were widened and restaurants and brand shops

were invited along the streets. As a result, there has been an inflow of people.

<Change in the Marunouchi area>

To accelerate the realization of OPEN INNOVATION FIELD around the Otemachi Building, whose large-scale renovation

will be conducted as described above, transforming the area into a town with potential that stimulates the advancement of

people and enterprises, the Company will also diligently carry out future projects, including a project for Tokiwabashi in front of

Tokyo Station.

▲ 1992 Aerial: photograph of the Marunouchi

area

▲ 1960: Marunouchi Naka Dori

▲ Present: Marunouchi Naka Dori

▲ Ideal for the area including Otemachi, Marunouchi and Yurakucho

▲ 2016 Aerial: photograph of the Marunouchi

area

Yurakucho

area

Tokyo Station

[Details of renovation]

Facilities

□ Exterior design with separate themes for the east, west and central parts

- The historical background and reputation of the three streets (Daimyo Kouji and Hibiya Dori on the east and west sides of

the building, extending over approx. 200 meters, and Marunouchi Naka Dori, running through the central part of the

building, south to north) will be reflected in the exterior design.

On the east side facing Daimyo Kouji, bricks will mainly be used because they are also used in the buildings of Tokyo

Station and The Industry Club of Japan, typical of the modern industry. On the west side facing Hibiya Dori, the motif of

stone walls reminiscent of the moat of the Imperial Palace and the Double Bridge at the Palace, symbols of the Edo period,

will be used in the design. In the central part, through which Marunouchi Naka Dori runs, glass materials will be used to

create an unobstructed view. The stories of these streets will be expressed through the design.

- For the main materials for the outer walls, GFRC (glass fiber reinforced cement) will be used, which has higher ultimate

tensile and bending strength than ordinary cement, realizing the future reduction of management costs.

- For window panes, Low-E multi-layered glass, which provides good thermal insulation, will be partly used and frames for

solar radiation will be installed to reduce the heat load, among other measures to improve environmental performance.

Present: Exterior (west side) Conceptual image（west side）

Present: Exterior (east side)

Conceptual image (LAB zone on the east side)

Conceptual image [Outer wall using GFRC (glass fiber reinforced cement)]

Facilities

□Creation of intended effect through the function of Naka Dori

- A passage running through the central part of the building above Marunouchi Naka Dori will be constructed inside and

outside the building. On the floor of the passage inside the building, the same porphyry from Argentina used in

Marunouchi Naka Dori will be laid. Around the entrance and exit, the wall materials will be partly replaced with glass to

produce an unobstructed view.

Present: Elevator hall（East Side） Conceptual image (LAB zone on the east side)

Present [Passage running south to north (north entrance)]

Conceptual image [Passage running south to north (north entrance)]

Conceptual image [Passage running south to north (central north side)]

Facilities

□Construction of lounge/terrace areas for workers

- A lounge freely available to office workers in the building and a terrace with a sweeping view of Marunouchi Naka Dori

will be constructed in the central part on the seventh floor. They can be used as a grand open space and will serve as the

stage for business support and the promotion of exchanges, meeting the needs of tenants.

□Utilization of roof space

- The roof space that was only used to maintain facilities and equipment will be transformed into a rooftop garden with an area of approx. 4,000 square meters, the

largest rooftop garden on an office building in Japan. The roof provides a sweeping view of Naka Dori as well as an overwhelming sense of openness. Elements that

will produce good environmental effects beyond tree planting will be incorporated to produce a creative space.

Conceptual image (lounge/terrace on 7th floor)

Conceptual image(rooftop)

Functions

□The east side will be positioned as LAB zone to stimulate leasing by unique enterprises

- The east side of the building will be positioned as LAB zone to stimulate leasing by unique enterprises and thereby foster a

place where new business is created.

□「Opening of TechLab (LAB zone on 6th floor)

- The space for joint creation where business will be created, TechLab, will open in the LAB zone on the sixth floor, directed

at start-up businesses and large-scale companies, jointly with one of the world's largest software companies, SAP Japan

Co., Ltd. The employees of SAP Japan, including community managers in charge of the promotion of collaboration

among communities and design thinking facilitators, will be present at all times. This place will bring together various

stakeholders for the prompt construction and review of practical, new business according to the innovation framework

with its core element being design thinking.

<Overview of TechLab>

Name: TechLab

Address: Otemachi Building 6F, 1-6-1, Otemachi, Chiyoda-ku, Tokyo

Date of opening: November 2018 (scheduled)

Summary of facilities: Collaboration space for business innovation to create new business

(1) Area for design thinking

(2) Workshop to create business prototypes

(3) Studio to shoot promotional videos

(4) Event space

Conceptual drawing of zoning

Conceptual image (entrance)

Conceptual image (cafeteria)

Conceptual image (open laboratory area)

LAB zone East side

West side

Functions

□Extension of FINOLAB（LAB zone 2nd/4th floors)

- Japan's first FinTech base, THE FINTECH CENTER of TOKYO, FINOLAB, which is managed jointly by three

companies (the Company, DENTSU INC. and Information Services International-Dentsu, Ltd.) will be extended. Its floor

area will increase from approx. 650 tsubo to approx. 1,200 tsubo. To meet the demand of rapidly-growing start-up

businesses, the office area for start-up enterprises with 20 employees or more will be additionally provided on the second

floor as well as on the fourth floor.

*The area of FINOLAB will be extended for the third time with the expansion described above: The initial area of

approx. 275 tsubo at its opening in February 2016; the extended area with the second expansion of approx. 650

tsubo (at the time of its renewal opening upon relocation to the Otemachi Building in February 2017); and the

extended area with the third expansion of approx. 1,200 tsubo.

- In the members-only community, leading start-up members (46 companies, including 8 overseas companies) and corporate

members (10 companies) meet. Membership increased from about 100 persons (as of February 2017 upon relocation to the

Otemachi Building) to around over 400 persons. There have been many collaboration projects between start-up and

corporate members.

- For industrial corporations, the first term of the program for the development of innovators will open from May 2018. The

program combines knowledge and expertise through open innovation at FINOLAB. With the expansion, the programs for

members are planned to increase gradually.

<Overview of FINOLAB after its expansion>

Name: THE FINTECH CENTER of TOKYO,FINOLAB

U R L：https://finolab.jp/

Address: Otemachi Building 2F/4F, 1-6-1, Otemachi, Chiyoda-ku, Tokyo

Area: approx. 1,200 tsubo

Date of opening: February 2016 (opened in Tokyo Ginko Kyokai Building; relocated to Otemachi Building in

February 2017)

Summary of facilities: (1) Single rooms for start-up members

(2) Rooms for corporate projects

(3) Event space (maximum capacity of 80 persons)

(4) Lounge, kitchen and study room only available to members

*A reference (and screening) is required to become a member.

The facilities（4th floor） The facilities（2nd floor） (area to be increased)

The facilities（4th floor）

Functions

□Opening of KPMG Ignition Tokyo (LAB zone on 7th floor)

- One of the world's big-four accounting firms (Big 4), KPMG, will open a new base to stimulate innovation for Japanese

enterprises utilizing digital techniques through KPMG Ignition Tokyo on July 1, 2018. At the advanced base for the

creation of solutions to deal with management issues and contribute to Japanese corporations' global success, the

know-how of professionals from KPMG Japan accumulated through accounting audit, tax and advisory services as well

as digital experts and cutting-edge digital technologies will be combined in its activities.

<Overview of KPMG Ignition Tokyo>

Name: KPMG Ignition Tokyo

Address: Otemachi Building 7F, 1-6-1, Otemachi, Chiyoda-ku, Tokyo

Date of opening: July 1, 2018

Major services: - Stimulation of discussions about innovative business models using the methodology of design

thinking

- Consideration of strategic scenarios and discussions about introductory plans through experience

with solutions using data analysis

□Use for the development department of Toyota Motor Corporation (6th floor)

- Toyota Motor Corporation will open a base for the development of peripheral technologies on the sixth floor of the

Otemachi Building to support autonomous driving while the corporation transforms into a mobility company, maintaining and

advancing its existing business.

The facilities

The facilities

○ Property summary of Otemachi Building

Address: 1-6-1, Otemachi, Chiyoda-ku, Tokyo

Access: Direct link to Otemachi Station on Tokyo Metro Marunouchi Line, Chiyoda

Line, Hanzomon Line, Tozai Line, Toei Mita Line

Land area: 10,496.03㎡

Structure/scale: Steel-framed reinforced concrete with nine floors above ground

and three basement floors, and three-stories of rooftop structures

Total floor area: 111,272.00㎡

Design/supervision: MITSUBISHI ESTATE CO., LTD.

Construction: TAISEI CORPORATION

Start of construction: May 1956

Completion of construction: April 1958

○ Summary of renovation work

Renovation design: Mitsubishi Jisho Sekkei Inc.

Renovation work: TAISEI CORPORATION

Interior design: MEC Design International

Period of renovation work: Late May 2018 to March 2021 (Renovation of some parts will be conducted and completed after

April 2021.)

*The details of the renovation (including perspectives and other images) stated in this press release may change according to the

progress of the project, among other reasons.

Present: Exterior

Location map

○ History of Otemachi Building

<Reference> Site of Otemachi Building on the date

of the Shinto purification ceremony

<Reference> Otemachi Building under construction in the initial stage

<Reference> Otemachi Building near completion

<Reference> Otemachi Building upon completion

<Reference> Completion ceremony on April 10, 1958

<Reference> Completion ceremony attended by Prime Minister Kishi

<Reference> View of the Marunouchi area at the time of completion