Mitsui Fudosan Financial Overview and Property Sales Business

5. Leasing Business (Retail Facilities) 5-1: Market Trends While sales in every category have been decreasing due to stagnant consumer spending, signs of improvement are starting to appear. 4% Year-on-Year Change in Sales by Category 0.3% 0.3% 0.0% 0% -2.1% -2.1% -0.7% -1.6% -1.7% -0.5% -0.2% -0.7% 2.8% -2.8% -1.4% -1.5% -4.3% -4% -2.3% -2.6% -2.7% -3.2% -3.5% -4.3% -6.8% -8% -12% 2002 General shopping centers 2003 Department stores Chain stores 2004 2005 -10.1% 2006 2007 2008 2009 (Calendar year) Source: Japan Department Stores Association, Japan Council of Shopping Centers, Japan Chain Stores Association 8% Mitsui Fudosan: Year-on-Year Change in Sales by Type of Retail Facility General shopping centers (market data) Outlet parks (6 existing facilities) -LaLaport (8 existing facilities) 4% 0% -3.3% -0.4% -4% -2.7% -8% -6.0% -6.7% -7.7% -8.0% -12% FY08/1Q (4-6/2008) FY08/2Q (7-9/2008) FY08/3Q (10-12/2008) FY08/4Q (1-3/2009) FY09/1Q (4-6/2009) FY09/2Q (7-9/2009) FY09/3Q (10-12/2009) -4.0% FY09/4Q (1-3/2010) Source: Japan Council of Shopping Centers 15

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