Mori Trust REIT Says ON Building Tenant Kobe Steel to Move Tokyo HQ by 2026

MT Newswires Live

10 Sep 2024

Mori Trust REIT Says ON Building Tenant Kobe Steel to Move Tokyo HQ by 2026

Mori Trust REIT (TYO:8961), a real estate investment trust focused on office, hotel, and commercial properties in Japan, said that Kobe Steel, the tenant of its ON Building in Tokyo, plans to relocate its headquarters by the end of the fiscal year 2026, according to a Monday filing on the Tokyo Stock Exchange.

Mori Trust has yet to receive a cancellation notice from the tenant, and the specifics of the move remain unclear.

The lease with Kobe Steel covers 20,654.60 square meters of the ON Building. Mori Trust stated there would be no impact on its earnings for August 2024 and February 2025, regardless of the tenant's relocation timeline.

Price (JPY): $64600.00, Change: $+200, Percent Change: +0.31%

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