<?xml version="1.0" encoding="utf-8"?>
<!-- Edited with FutureStage XBRL Solution Library .NET 01-11 -->
<link:linkbase xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:link="http://www.xbrl.org/2003/linkbase">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS_label" xlink:role="http://www.xbrl.org/2003/role/label">Accounts payable for construction contracts and other</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Accounts payable for construction contracts and other-CNS</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS_label" xlink:role="http://www.xbrl.org/2003/role/label">Accounts receivable accounts receivable from completed construction contracts and other</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Accounts receivable accounts receivable from completed construction contracts and other-CNS</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities_label" xlink:role="http://www.xbrl.org/2003/role/label">Advances received of contract liabilities</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Advances received of contract liabilities</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Ariyoshi, Yoshinori</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Ariyoshi, Yoshinori [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ChangesByShareExchanges_label" xlink:role="http://www.xbrl.org/2003/role/label">Changes by share exchanges</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ChangesByShareExchanges_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Changes by share exchanges</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Commercial Facilities</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Commercial Facilities, Reportable segments [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Condominiums</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Condominiums, Reportable segments [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA_label" xlink:role="http://www.xbrl.org/2003/role/label">Current portion of bonds of subsidiaries and affiliates</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Current portion of bonds of subsidiaries and affiliates-CA</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Dekura, Kazuhito</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Dekura, Kazuhito [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Description of metrics related to policy on human resource development and improvement of internal environment, and targets and results using such metrics</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Description of metrics related to policy on human resource development and improvement of internal environment, and targets and results using such metrics, Metrics and targets [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading_label" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of Sustainability-related Financial Information</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Disclosure of Sustainability-related Financial Information [heading]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of Sustainability-related Financial Information</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Disclosure of Sustainability-related Financial Information [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims_label" xlink:role="http://www.xbrl.org/2003/role/label">Electronically recorded monetary claims</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Electronically recorded monetary claims</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Environment and Energy</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Environment and Energy, Reportable segment [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI_label" xlink:role="http://www.xbrl.org/2003/role/label">Gain on sales of investments in capital of subsidiaries and associates</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Gain on sales of investments in capital of subsidiaries and associates-EI</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Governance (Responding to climate change (Initiatives for the TCFD Recommendations))</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Governance (Responding to climate change (Initiatives for the TCFD Recommendations)) [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GovernanceTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Governance</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_GovernanceTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Governance [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Hashimoto, Yoshinori</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Hashimoto, Yoshinori [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ItoYujiroMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Ito, Yujiro</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ItoYujiroMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Ito, Yujiro [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Kishimoto, Tatsuji</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Kishimoto, Tatsuji [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Kosokabe, Takeshi</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Kosokabe, Takeshi [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Kuwano, Yukinori</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Kuwano, Yukinori [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LandForDevelopmentCA_label" xlink:role="http://www.xbrl.org/2003/role/label">Land for development</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LandForDevelopmentCA_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Land for development-CA</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL_label" xlink:role="http://www.xbrl.org/2003/role/label">Leaving tenants-related expenses</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Leaving tenants-related expenses-EL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Logistics, Business and Corporate Facilities</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Logistics, Business and Corporate Facilities, Reportable segments [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL_label" xlink:role="http://www.xbrl.org/2003/role/label">Long term deposits received from subsidiaries and affiliates</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Long term deposits received from subsidiaries and affiliates-NCL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19EL_label" xlink:role="http://www.xbrl.org/2003/role/label">Loss on COVID19</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19EL_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loss on COVID19-EL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Loss on COVID19</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loss on COVID19 [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL_label" xlink:role="http://www.xbrl.org/2003/role/label">Loss on sales of investments in capital of subsidiaries and affiliates</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loss on sales of investments in capital of subsidiaries and affiliates-EL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE_label" xlink:role="http://www.xbrl.org/2003/role/label">Loss on support to subsidiaries and associates</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Loss on support to subsidiaries and associates-NOE</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Maeda, Tadatoshi</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Maeda, Tadatoshi [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Maruyama, Takashi</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Maruyama, Takashi [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Metrics and targets (Responding to climate change (Initiatives for the TCFD Recommendations))</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Metrics and targets (Responding to climate change (Initiatives for the TCFD Recommendations)) [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Murata, Yoshiyuki</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Murata, Yoshiyuki [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NagaseToshiyaMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Nagase, Toshiya</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NagaseToshiyaMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Nagase, Toshiya [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Nakazato, Tomoyuki</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Nakazato, Tomoyuki [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers_label" xlink:role="http://www.xbrl.org/2003/role/label">Nonpecuniary reward</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Nonpecuniary reward, Remuneration by category of directors (and other officers)</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Notes regarding actuarial gain or loss included in selling, general and administrative expenses and cost of sales</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes regarding actuarial gain or loss included in selling, general and administrative expenses and cost of sales [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Notes regarding leaving tenants-related expenses</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes regarding leaving tenants-related expenses [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Notes regarding special retirement benefit expensesEL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes regarding special retirement benefit expensesEL [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Notes regarding transfer due to change in purpose of holding</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes regarding transfer due to change in purpose of holding [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Notes regarding transfer from non-current assets to real estate for sale due to change in purpose of holding</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Notes regarding transfer from non-current assets to real estate for sale due to change in purpose of holding [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA_label" xlink:role="http://www.xbrl.org/2003/role/label">Operating loans - real estate business</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Operating loans - real estate business-CA</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Otomo, Hirotsugu</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Otomo, Hirotsugu [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label" xlink:role="http://www.xbrl.org/2003/role/label">Payments for sales of shares,etc of subsidiaries resulting in change in scope of consolidation</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Payments for sales of shares,etc of subsidiaries resulting in change in scope of consolidation-InvCF</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Policy on human resource development and improvement of internal environment</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Policy on human resource development and improvement of internal environment, Strategy [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF_label" xlink:role="http://www.xbrl.org/2003/role/label">Purchase of shares,etc of subsidiaries not resulting in change in scope of consolidation</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Purchase of shares,etc of subsidiaries not resulting in change in scope of consolidation-FinCF</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label" xlink:role="http://www.xbrl.org/2003/role/label">Purchase of shares,etc of subsidiaries resulting in change in scope of consolidation</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Purchase of shares,etc of subsidiaries resulting in change in scope of consolidation-InvCF</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany_label" xlink:role="http://www.xbrl.org/2003/role/label">Purpose of shareholding, overview of business alliance, quantitative effects of shareholding and reason for increase in number of shares</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Purpose of shareholding, overview of business alliance, quantitative effects of shareholding and reason for increase in number of shares, Details of specified investment shares held for purposes other than pure investment, Reporting company</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther_label" xlink:role="http://www.xbrl.org/2003/role/label">Receivables arising and contract assets from contracts with customers of notes receivable. accounts receivable from completed construction contracts and other</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Receivables arising and contract assets from contracts with customers of notes receivable. accounts receivable from completed construction contracts and other</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets_label" xlink:role="http://www.xbrl.org/2003/role/label">Reference to other information</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Reference to other information, Metrics and targets</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Rental Housing</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Rental Housing, Reportable segments [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Risk management (Responding to climate change (Initiatives for the TCFD Recommendations))</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Risk management (Responding to climate change (Initiatives for the TCFD Recommendations)) [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Risk management</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Risk management [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SekiMiwaMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Seki, Miwa</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SekiMiwaMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Seki, Miwa [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Shimonishi, Keisuke</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Shimonishi, Keisuke [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Single-Family Houses</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Single-Family Houses, Reportable segments [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL_label" xlink:role="http://www.xbrl.org/2003/role/label">Special retirement benefit expenses</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Special retirement benefit expenses-EL</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Strategy (Responding to climate change (Initiatives for the TCFD Recommendations))</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Strategy (Responding to climate change (Initiatives for the TCFD Recommendations)) [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI_label" xlink:role="http://www.xbrl.org/2003/role/label">Subsidy income related to COVID19</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Subsidy income related to COVID19-EI</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock_label" xlink:role="http://www.xbrl.org/2003/role/label">Subsidy income related to COVID19</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Subsidy income related to COVID19 [text block]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Watanabe, Akihisa</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Watanabe, Akihisa [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YabuYukikoMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Yabu, Yukiko</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YabuYukikoMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Yabu, Yukiko [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Yoshii, Keiichi</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Yoshii, Keiichi [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember_label" xlink:role="http://www.xbrl.org/2003/role/label">Yoshizawa, Kazuhiro</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember_label_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Yoshizawa, Kazuhiro [member]</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jppfs_cor_CumulativeEffectsOfChangesInAccountingPolicies_label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Cumulative effects of changes in accounting policies</link:label>
    <link:label xml:lang="en" xlink:type="resource" xlink:label="jppfs_cor_RestatedBalance_label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Restated balance</link:label>
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2022-11-01/jppfs_cor_2022-11-01.xsd#jppfs_cor_CumulativeEffectsOfChangesInAccountingPolicies" xlink:label="jppfs_cor_CumulativeEffectsOfChangesInAccountingPolicies" />
    <link:loc xlink:type="locator" xlink:href="http://disclosure.edinet-fsa.go.jp/taxonomy/jppfs/2022-11-01/jppfs_cor_2022-11-01.xsd#jppfs_cor_RestatedBalance" xlink:label="jppfs_cor_RestatedBalance" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS" xlink:label="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS" xlink:label="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities" xlink:label="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember" xlink:label="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ChangesByShareExchanges" xlink:label="jpcrp030000-asr_E00048-000_ChangesByShareExchanges" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember" xlink:label="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember" xlink:label="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA" xlink:label="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_DekuraKazuhitoMember" xlink:label="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock" xlink:label="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock" xlink:label="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims" xlink:label="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember" xlink:label="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI" xlink:label="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:label="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_GovernanceTextBlock" xlink:label="jpcrp030000-asr_E00048-000_GovernanceTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember" xlink:label="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ItoYujiroMember" xlink:label="jpcrp030000-asr_E00048-000_ItoYujiroMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_KishimotoTatsujiMember" xlink:label="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_KosokabeTakeshiMember" xlink:label="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_KuwanoYukinoriMember" xlink:label="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LandForDevelopmentCA" xlink:label="jpcrp030000-asr_E00048-000_LandForDevelopmentCA" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL" xlink:label="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember" xlink:label="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL" xlink:label="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LossOnCOVID19EL" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19EL" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock" xlink:label="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL" xlink:label="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE" xlink:label="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_MaedaTadatoshiMember" xlink:label="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_MaruyamaTakashiMember" xlink:label="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:label="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_MurataYoshiyukiMember" xlink:label="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NagaseToshiyaMember" xlink:label="jpcrp030000-asr_E00048-000_NagaseToshiyaMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember" xlink:label="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers" xlink:label="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock" xlink:label="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA" xlink:label="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_OtomoHirotsuguMember" xlink:label="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:label="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock" xlink:label="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:label="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany" xlink:label="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther" xlink:label="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets" xlink:label="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember" xlink:label="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_RiskManagementTextBlock" xlink:label="jpcrp030000-asr_E00048-000_RiskManagementTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_SekiMiwaMember" xlink:label="jpcrp030000-asr_E00048-000_SekiMiwaMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember" xlink:label="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember" xlink:label="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL" xlink:label="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:label="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock" xlink:label="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_WatanabeAkihisaMember" xlink:label="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_YabuYukikoMember" xlink:label="jpcrp030000-asr_E00048-000_YabuYukikoMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_YoshiiKeiichiMember" xlink:label="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember" />
    <link:loc xlink:type="locator" xlink:href="jpcrp030000-asr-001_E00048-000_2023-03-31_01_2023-06-29.xsd#jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember" xlink:label="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS" xlink:to="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS" xlink:to="jpcrp030000-asr_E00048-000_AccountsPayableForConstructionContractsAndOtherCNS_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS" xlink:to="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS" xlink:to="jpcrp030000-asr_E00048-000_AccountsReceivableAccountsReceivableFromCompletedConstructionContractsAndOtherCNS_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities" xlink:to="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities" xlink:to="jpcrp030000-asr_E00048-000_AdvancesReceivedOfContractLiabilities_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember" xlink:to="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember" xlink:to="jpcrp030000-asr_E00048-000_AriyoshiYoshinoriMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ChangesByShareExchanges" xlink:to="jpcrp030000-asr_E00048-000_ChangesByShareExchanges_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ChangesByShareExchanges" xlink:to="jpcrp030000-asr_E00048-000_ChangesByShareExchanges_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_CommercialFacilitiesReportableSegmentsMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_CondominiumsReportableSegmentsMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA" xlink:to="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA" xlink:to="jpcrp030000-asr_E00048-000_CurrentPortionOfBondsOfSubsidiariesAndAffiliatesCA_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember" xlink:to="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember" xlink:to="jpcrp030000-asr_E00048-000_DekuraKazuhitoMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_DescriptionOfMetricsRelatedToPolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentAndTargetsAndResultsUsingSuchMetricsMetricsAndTargetsTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading" xlink:to="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading" xlink:to="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationHeading_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock" xlink:to="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock" xlink:to="jpcrp030000-asr_E00048-000_DisclosureOfSustainabilityRelatedFinancialInformationTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims" xlink:to="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims" xlink:to="jpcrp030000-asr_E00048-000_ElectronicallyRecordedMonetaryClaims_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember" xlink:to="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember" xlink:to="jpcrp030000-asr_E00048-000_EnvironmentAndEnergyReportableSegmentMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI" xlink:to="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI" xlink:to="jpcrp030000-asr_E00048-000_GainOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAssociatesEI_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_GovernanceRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GovernanceTextBlock" xlink:to="jpcrp030000-asr_E00048-000_GovernanceTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_GovernanceTextBlock" xlink:to="jpcrp030000-asr_E00048-000_GovernanceTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember" xlink:to="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember" xlink:to="jpcrp030000-asr_E00048-000_HashimotoYoshinoriMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ItoYujiroMember" xlink:to="jpcrp030000-asr_E00048-000_ItoYujiroMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ItoYujiroMember" xlink:to="jpcrp030000-asr_E00048-000_ItoYujiroMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember" xlink:to="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember" xlink:to="jpcrp030000-asr_E00048-000_KishimotoTatsujiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember" xlink:to="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember" xlink:to="jpcrp030000-asr_E00048-000_KosokabeTakeshiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember" xlink:to="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember" xlink:to="jpcrp030000-asr_E00048-000_KuwanoYukinoriMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LandForDevelopmentCA" xlink:to="jpcrp030000-asr_E00048-000_LandForDevelopmentCA_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LandForDevelopmentCA" xlink:to="jpcrp030000-asr_E00048-000_LandForDevelopmentCA_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL" xlink:to="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL" xlink:to="jpcrp030000-asr_E00048-000_LeavingTenantsRelatedExpensesEL_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_LogisticsBusinessAndCorporateFacilitiesReportableSegmentsMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL" xlink:to="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL" xlink:to="jpcrp030000-asr_E00048-000_LongTermDepositsReceivedFromSubsidiariesAndAffiliatesNCL_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnCOVID19EL" xlink:to="jpcrp030000-asr_E00048-000_LossOnCOVID19EL_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnCOVID19EL" xlink:to="jpcrp030000-asr_E00048-000_LossOnCOVID19EL_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock" xlink:to="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock" xlink:to="jpcrp030000-asr_E00048-000_LossOnCOVID19TextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL" xlink:to="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL" xlink:to="jpcrp030000-asr_E00048-000_LossOnSalesOfInvestmentsInCapitalOfSubsidiariesAndAffiliatesEL_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE" xlink:to="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE" xlink:to="jpcrp030000-asr_E00048-000_LossOnSupportToSubsidiariesAndAssociatesNOE_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember" xlink:to="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember" xlink:to="jpcrp030000-asr_E00048-000_MaedaTadatoshiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember" xlink:to="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember" xlink:to="jpcrp030000-asr_E00048-000_MaruyamaTakashiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_MetricsAndTargetsRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember" xlink:to="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember" xlink:to="jpcrp030000-asr_E00048-000_MurataYoshiyukiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NagaseToshiyaMember" xlink:to="jpcrp030000-asr_E00048-000_NagaseToshiyaMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NagaseToshiyaMember" xlink:to="jpcrp030000-asr_E00048-000_NagaseToshiyaMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember" xlink:to="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember" xlink:to="jpcrp030000-asr_E00048-000_NakazatoTomoyukiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers" xlink:to="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers" xlink:to="jpcrp030000-asr_E00048-000_NonpecuniaryRewardRemunerationByCategoryOfDirectorsAndOtherOfficers_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingActuarialGainOrLossIncludedInSellingGeneralAndAdministrativeExpensesAndCostOfSalesTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingLeavingTenantsRelatedExpensesTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingSpecialRetirementBenefitExpensesELTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingTransferDueToChangeInPurposeOfHoldingTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock" xlink:to="jpcrp030000-asr_E00048-000_NotesRegardingTransferFromNonCurrentAssetsToRealEstateForSaleDueToChangeInPurposeOfHoldingTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA" xlink:to="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA" xlink:to="jpcrp030000-asr_E00048-000_OperatingLoansRealEstateBusinessCA_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember" xlink:to="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember" xlink:to="jpcrp030000-asr_E00048-000_OtomoHirotsuguMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:to="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:to="jpcrp030000-asr_E00048-000_PaymentsForSalesOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock" xlink:to="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock" xlink:to="jpcrp030000-asr_E00048-000_PolicyOnHumanResourceDevelopmentAndImprovementOfInternalEnvironmentStrategyTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF" xlink:to="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF" xlink:to="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesNotResultingInChangeInScopeOfConsolidationFinCF_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:to="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF" xlink:to="jpcrp030000-asr_E00048-000_PurchaseOfSharesEtcOfSubsidiariesResultingInChangeInScopeOfConsolidationInvCF_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany" xlink:to="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany" xlink:to="jpcrp030000-asr_E00048-000_PurposeOfShareholdingOverviewOfBusinessAllianceQuantitativeEffectsOfShareholdingAndReasonForIncreaseInNumberOfSharesDetailsOfSpecifiedInvestmentSharesHeldForPurposesOtherThanPureInvestmentReportingCompany_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther" xlink:to="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther" xlink:to="jpcrp030000-asr_E00048-000_ReceivablesArisingAndContractAssetsFromContractsWithCustomersOfNotesReceivableAccountsReceivableFromCompletedConstructionContractsAndOther_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets" xlink:to="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets" xlink:to="jpcrp030000-asr_E00048-000_ReferenceToOtherInformationMetricsAndTargets_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_RentalHousingReportableSegmentsMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_RiskManagementRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RiskManagementTextBlock" xlink:to="jpcrp030000-asr_E00048-000_RiskManagementTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_RiskManagementTextBlock" xlink:to="jpcrp030000-asr_E00048-000_RiskManagementTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SekiMiwaMember" xlink:to="jpcrp030000-asr_E00048-000_SekiMiwaMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SekiMiwaMember" xlink:to="jpcrp030000-asr_E00048-000_SekiMiwaMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember" xlink:to="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember" xlink:to="jpcrp030000-asr_E00048-000_ShimonishiKeisukeMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember" xlink:to="jpcrp030000-asr_E00048-000_SingleFamilyHousesReportableSegmentsMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL" xlink:to="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL" xlink:to="jpcrp030000-asr_E00048-000_SpecialRetirementBenefitExpensesEL_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock" xlink:to="jpcrp030000-asr_E00048-000_StrategyRespondingToClimateChangeInitiativesForTheTCFDRecommendationsTextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI" xlink:to="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI" xlink:to="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19EI_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock" xlink:to="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock" xlink:to="jpcrp030000-asr_E00048-000_SubsidyIncomeRelatedToCOVID19TextBlock_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember" xlink:to="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember" xlink:to="jpcrp030000-asr_E00048-000_WatanabeAkihisaMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YabuYukikoMember" xlink:to="jpcrp030000-asr_E00048-000_YabuYukikoMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YabuYukikoMember" xlink:to="jpcrp030000-asr_E00048-000_YabuYukikoMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember" xlink:to="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember" xlink:to="jpcrp030000-asr_E00048-000_YoshiiKeiichiMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember" xlink:to="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember" xlink:to="jpcrp030000-asr_E00048-000_YoshizawaKazuhiroMember_label_1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jppfs_cor_CumulativeEffectsOfChangesInAccountingPolicies" xlink:to="jppfs_cor_CumulativeEffectsOfChangesInAccountingPolicies_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
    <link:labelArc xlink:type="arc" xlink:from="jppfs_cor_RestatedBalance" xlink:to="jppfs_cor_RestatedBalance_label" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" order="1" />
  </link:labelLink>
</link:linkbase>