Gradual Recovery in Demand for Central Tokyo Offices
First written in FY2023-Q3. 7 of 12 entries say "Advanced", first in FY2023. Latest entry: 2026-07-28.
2 other companies' latest entry also says "Advanced".
- FY2026-H1RestatedAnnual report
「In particular, in the Shibuya area, where the Company has particular strength, existing properties operated by the Company have maintained high occupancy rates against strong demand from startups, and rents are also trending upward.」
In the Shibuya area, strong startup demand has supported continued high occupancy rates and favorable leasing conditions at existing properties, and this update also describes an upward trend in rents. - FY2025AdvancedAnnual report
「According to Miki Shoji, the average rent in the central five wards was ¥21,092 per tsubo in September 2025, compared with ¥24,248 per tsubo in Shibuya Ward. The occupancy rate was 97.3% in the central five wards, compared with 97.9% in Shibuya Ward, which was higher.」
As of September 2025, the note shows with updated figures that Shibuya Ward's average rent and occupancy rate exceeded those of the central five wards. - FY2025-H1RestatedAnnual report
「In particular, in the Shibuya area, where we have a competitive advantage, strong demand from startup companies has enabled our existing properties to maintain high occupancy rates, and leasing conditions remain favorable.」
The note explains that, against a backdrop of startup demand in the Shibuya area, existing properties continue to maintain high occupancy rates and favorable leasing conditions. - FY2024AdvancedAnnual report
「The average rent in the central five wards was ¥20,126 per tsubo in September 2024, compared with ¥23,688 per tsubo in Shibuya Ward. The occupancy rate was 95.4% in the central five wards, compared with 96.2% in Shibuya Ward, which was higher.」
The note shows that Shibuya Ward's average rent and occupancy rate exceeded those of the central five wards based on figures as of September 2024. The occupancy rate of our properties was also 99.0% at the end of September 2024. - FY2024-Q2AdvancedAnnual report
「In the leasing market for startup companies, demand is particularly strong in central Tokyo areas, especially Shibuya, where we have a competitive advantage. Our leasing conditions are favorable, with the occupancy rate of existing properties as of the end of March 2024 showing its highest level in the past 2 years.」
The note describes strong demand in central Tokyo, particularly Shibuya, and the specific progress that the occupancy rate of existing properties reached its highest level in the past 2 years as of the end of March 2024. - FY2024-Q1RestatedAnnual report
「In our core business, real estate leasing, office demand, which had temporarily stagnated, is showing signs of recovery. At the same time, large-scale redevelopment is generating new office relocations, while older buildings in surrounding areas are struggling with leasing, affecting office market conditions in some areas.」
The note describes a market with regional differences, with office demand showing signs of recovery while older buildings around large-scale redevelopment projects are struggling with leasing. - FY2023AdvancedAnnual report
「In September 2023, average rent in the 5 central wards of the Tokyo Business District was ¥19,750 per tsubo, or approximately ¥20,000. In contrast, rent in Shibuya Ward was ¥21,863 per tsubo. The occupancy rate in the 5 central wards was 93.9% in September 2023, compared with 95.9% in Shibuya Ward.」
In addition to the recovery in central Tokyo, reports that Shibuya Ward, a key operating area, has higher average rents and occupancy than the 5 central wards. - FY2023-Q3First statedAnnual report
「The average vacancy rate in the Tokyo Business District, comprising the 5 central wards of Chiyoda, Chuo, Minato, Shinjuku and Shibuya, was 6.48% as of June. Demand is gradually returning, with office vacancy rates in central Tokyo showing signs of recovery, according to a private-sector research agency.」
Reports an average vacancy rate of 6.48% in the Tokyo Business District and a recovery trend in demand for central Tokyo offices.