ING Real Estate Investment Management has announced that it had taken on management of a private real estate fund in Japan known as Creed Real Estate Partners (CREP). The Fund is a USD 1.1 billion closed-end value-added fund focusing on office, residential and retail assets in Japan. ING has changed the name of the fund to the Nozomi Real Estate Fund.

Source: ING REIM

Towa Real Estate Development has teamed up with Mitsubishi Real Estate, All Life Mate and Seirei Social Welfare Community to build a new apartment and nursing home complex known as "MINASIA Shonan Town Life". The site is located in Fujisawa City in Kanagawa Prefecture, greater Tokyo and will feature 339 apartments and nursing home units in 4 tower blocks over the 40,000 square meter site. Properties will be available from February 2011.

Summary:

* Property Name: MINASIA Shonan Town Life

* 4 towers ranging from 4-12 stories above ground

* Total units: 339 units (127 units Southfort, Pakufoto 132 units, 40 units Middofoto, Hiruzufu Oto 40 units)

* Location: Oba Fujisawa

* Transport: Tokaido Line JR Shonan-Shinjuku Line, Enoshima Line, Yokohama Subway・Izumino Sagami Line "Shonandai" station

* Site area: 40,479.51m

* Typical Floor Area: 76.04 m - 107.59 m

* Design: Sumitomo Mitsui Construction Co.,

* Construction: Yokohama branch of Sumitomo Mitsui Construction Co.,

* Joint Seller: Towa Real Estate Development Co., Ltd

Source: Joint Press Release 

Asset Managers Holdings Co., Japan’s second-biggest publicly traded real estate manager, said it’s seeking acquisitions and aims to invest as much as 60 billion yen ($645 million) in Tokyo commercial properties.

The firm will target real estate investment trust managers and building management businesses, spending about 2 billion yen on each takeover.

Asset Managers will start new funds for the first time since the September 2008 collapse of Lehman Brothers Holdings Inc. as credit becomes more available and property prices fall. Japan’s 38 publicly traded real estate investment trusts more than doubled property purchases in the first quarter to 229 billion yen, according to IB Research and Consulting Inc.

“We’re finally starting to feel that the real estate market is turning around, which provides a good opportunity to start setting up new funds,” Iwasaki said.

Commercial land prices in Japan fell to the lowest in at least 36 years in 2009. Kenedix Inc., Japan’s biggest publicly traded real estate asset manager, and Chuo Mitsui Trust & Banking Co., Japan’s third-largest trust bank by assets, said in March they plan to start investing in property.

The firm has retreated from overseas businesses to refocus on the domestic market after the value of its funds’ assets declined to 340 billion yen at the end of February from a peak of 530 billion yen in 2007.

It will continue selling assets in China, Iwasaki said. The firm, which has a capital alliance with the asset management unit of Citic International Financial Holdings Ltd., has about 10 billion yen of assets in China.

Source:Bloomberg

CLSA Capital Partners, a unit of Credit Agricole SA, aims to buy two to three properties in Tokyo this year through an $816 million real estate fund as it takes advantage of declining prices and a recovery in credit markets.

The Fudo Capital II L.P. fund may invest about 200 billion yen ($2.1 billion) including loans, said Hirotaka Uchiyama, the head of Fudo-Japan, CLSA Capital Partners (Fudo) KK. The fund is the second set up by the alternative asset management arm of CLSA Asia-Pacific Markets to focus on properties in the Asia- Pacific region.

CLSA Capital Partners is betting that commercial real estate prices in Japan will recover as credit becomes more available after the global credit crisis and after commercial land prices in the country fell to the lowest in at least 36 years in 2009.

“There are various views on whether Japan’s property market has hit a bottom,” Uchiyama, who joined CLSA Capital Partners last July, said in an interview in Tokyo yesterday. “But the one thing that is common to everyone’s thinking is that we’re definitely close, which gives risk takers like us a good opportunity.” Japanese investments will make up a “sizeable portion” of the fund because there is limited risk of further declines.

CLSA Capital Partners closed the fund to new investors in November after raising more than its target of $750 million and has already invested in two office buildings, one in Sydney’s financial district and the other in Tokyo.

Kenedix Inc., Japan’s biggest publicly traded real estate asset manager, and Chuo Mitsui Trust & Banking Co., Japan’s third-largest trust bank by assets, said in March they plan to start investing in property.

Source: Bloomberg

The International Monetary Fund (IMF) has predicted that China's economy is expected to grow by 10 percent in 2010 underpinned by strong domestic demand. The report also states that Asia's GDP is projected to grow by 7 percent in both 2010 and 2011 and the strength of domestic demand in China is expected to have positive spillovers for other Asian economies, particularly exporters of commodities and capital goods.

"In China, GDP growth exceeded the government's 8 percent target in 2009 and is expected to be close to 10 percent in both 2010 and 2011. What has been so far mainly a publicly driven growth path, built on infrastructure investment, is expected to turn toward stronger private consumption and investment," said the IMF in its latest World Economic Outlook report.

"Boosting domestic consumption will be a priority in China, through improved access to finance for small enterprises and households and stronger corporate governance and social safety nets to reduce precautionary saving," said the IMF.

In the report, the IMF said "the global recovery has evolved better than expected, with activity recovering at varying speeds, tepidly in many advanced economies but solidly in most emerging and developing economies."

The world economy, which declined by 0.6 percent in 2009, will recover gradually in 2010 and 2011, growing by 4.2 percent and 4.3 percent respectively, said the IMF.

Source: China Daily

DHL chief Frank Appel believes the worst is over and that economic recovery is on the horizon.

Appel expressed his optimism in a speech to the US Chamber of Commerce, during which he said DHL was prepared for growth in all four businesses units in the US - Express, its international courier service, DHL Global Forwarding and DHL Global Mail.

He added that free trade is a key component of sustainable economic growth, making it vital that governments around the world work toward reducing or modifying trade barriers like customs duties and competing trade regulations. The DHL CEO said he backs President Barack Obama's national export initiative which aims to double US exports in the next five years.

"The worst seems to be over, and there are clear signs of an economic comeback on the horizon," said Appel.

Kuehne + Nagel returned to growth in the first quarter with sales up 7.3% compared to the same period a year earlier.

First quarter sales grew to CHF 4,604 million, but EBITA slipped from CHF 230 million in the previous year to CHF 228 million.

The company said demand in its global seafreight business experienced a turnaround in the first quarter, growing some 12%. Kuehne + Nagel moved 17% more containers during the quarter, with the highest growth recorded in the export business to China and on all export routes from Asia. Continued rate increases, however, put profit margins under further pressure. As a result, EBITDA slipped by 4.9% compared to the previous year, and the EBITDA margin declined 5.3% to 4.9%.

The company's airfreight business also saw a marked improvement in the quarter, rising some 31% in tonnage.

The economic recovery was also felt in contract logistics, albeit hesitantly. Kuehne + Nagel said turnover and results were stable during the first three months, although North America results were negatively influenced by insufficient warehouse space utilisation and start up costs for new business. EBITDA margin was at 4.2%, slipping slightly from the previous year's 4.5%.

"Our group is back on course for growth thanks to the economic recovery and measures we introduced in 2009," said Reinhard Lange, CEO of Kuehne + Nagel International. "Indications are getting stronger that the global economy and logistics-related parameters are stabilising. We are, therefore, confident of our ability of reaching our goal of above-market average profitable growth in all business units."

TNT recently signed an agreement with Shenzhen Airport on building a distribution centre, becoming the fourth express delivery giant of after FedEx, DHL and UPS to launch facility there.

TNT launched additional two freight flights from Hong Kong to Europe at the end of last year, and is set to build a special warehouse area in the airport in a bid to meet delivery demands and facilitate transportation between Shenzhen and Hong Kong.

The warehouse area, covering 1,300 square metres, is expected to be under construction mid April and open before the end of the year. TNT will move its distribution centre from Guangzhou to Shenzhen, sources from the airport say.

Together with domestic companies such as SF Express and Sinotrans, the top four players of the sector worldwide, including FedEx, DHL, UPS, TNT, have rolled out express delivery operations in the Shenzhen airport so far.

Matsuya Foods a Japanese wholesale and restaurant business has announced plans to strengthen and streamline production and distribution with a view to expanding operations in the future. The new industrial property located in north Tokyo will feature an integrated logistics center and food production centre.

Address: 118-1 Nakayama Oaza Kawashima-cho, Hiki-gun, Saitama

Site area: 19,958m2

Floor area: About 14,000 square meters (3 Levels)

Usage:   Warehouse, Food Processing Distribution Center processing

Total project cost: 4,333 million JPY (including land acquisition costs)

Construction: Starts in October 2010. Operation late July 2011.

Source: Matsuya Foods

ProLogis a global provider of industrial real estate and distribution facilities announced the completion of the new "Ebina ProLogis" facility located in Ebina City south west of Tokyo.

Attending the ceremony were Mr Taki Masami - President Kirin Logistics Co., Mr Shiroi Motoyuki CEO & Managing Director from Fujita Corporation who were the builders and Mr Mike Yamada - President & CEO of ProLogis Japan.

The new distribution centre will be used by Kirin Logistics Co., Ltd. as a base for storing and shipping products of Kirin Beverage Co., Ltd.

Building Summary

Name:                 ProLogis Ebina

Location :            6-2-1 Ebina, Kadosawabashi, Kanagawa

Site area:            35,470m² (approximately 10,729 tsubo)

Total floor area:   35,484 m² (approximately 10,734 tsubo)

Structure:            S Building, part two-storey RC Building

Ground breaking : July 2009

Completion:         March 2010

Source: Prologis

Mapletree Investments Pte Ltd has acquired an industrial property from ITOCHU Corp and ITOCHU Property Development, Ltd in Tokyo, Japan.

The 5-storey building known as ‘IXINAL Monzen-Nakacho’ is a purpose-built light industrial building located in Tokyo. It houses a corporate headquarters, information systems development and operations data centre. The building also obtained a ‘CASBEE A’ rank because of its energy saving features.

Phua Kok Kim, CEO of Mapletree Industrial said, “We are pleased to acquire this high quality property which will add to Mapletree's portfolio of assets in Japan.  The acquisition of this property from our strategic partner, ITOCHU Corp also reinforces our strong relationship which extends beyond our collaboration in the logistics market in Japan and other parts of Asia.”

Summary

Completed: September 2009

Location: No. 4 & 5 Fukuzumi 2-chome, Koto-ku, Tokyo

Site area: 2,787.72 square meters (approximately 843.28 tsubo)

Total floor area: 9,156.63 square meters (approximately 2,769.88 tsubo)

Exclusive area: 6,851.86 square meters (approximately 2,072.68 tsubo)

Main Usage: offices, stores, data center

Structure: 5 floors above ground - steel frame

Buyer: Mapletree SPC

Form of sale: Sale of trust beneficiary rights

Source: Mapletree Investments Pte Ltd & Itochu

Daisyo Corporation, a Japanese wholesale and restaurant business with around 1000 outlets in Tokyo and the surrounding areas has announced the purchase of Tokyo land in Adachi-ku, for the construction of a new industrial real estate project. The site was purchased for approximately 15.5 million USD and will feature a new office and logistics center that will consolidate existing facilities thereby enhancing the efficiency of the wholesale business group.

Property Summary

Location: 6-2-5 Iriya, Adachi-ku, Tokyo

Site Area: 9,901.51 square meters (2,995.21 tsubo)

Building Use: Warehouse and office

Building size: approximately 4,000 square meters (tentative)

Source: Daisyo Co.Ltd

Nomura Research Institute, Ltd. (NRI) has decided to build its new data center in Tama City, Tokyo. This will be NRI’s fifth data center in Japan and the fourth in the metropolitan area.

In addition to serving as a base for NRI’s expanding outsourcing business, the new data center will function as a core center for cloud services.

NRI will invest about 20 billion yen in constructing this new data center, which is scheduled to be completed in fiscal 2012.

Summary

Location: Tama City, Tokyo

Site area: 19,496.3 m2

Scheduled completion date: 2012

Source: Nomura Research Institute

According to recent data from CBRE average vacancy rate for large-scale multi-tenant warehouse and distribution facilities in Tokyo rose 1.1 point to 15.3%. The data although from a small sample of 49 properties highlights that some existing facilities had large vacancies but the rate of increase was modest as new facilities (built within one year) begin to take up vacant space.

Overall tenant activity remains relatively weak apart from online retailers and catalogue companies who continue to see growth in their warehousing needs. Many Japanese corporations are looking to reduce costs by relocating and consolidating their bases to higher quality facilities which has led to a steady take-up at large-scale facilities. Although vacancies were taken-up at large-scale facilities the contracted rents were reportedly highly discounted.

Vacancy for existing facilities rose 1.5 points to 8.3%. Although overall tenant activity was limited, vacancy trended slightly upward due to a take-up at new facilities, indicating a continuing market growth. However considering that the growth in large-scale market is mainly due to consolidation in small and medium-sized facilities, there remains a concern over supply-demand balance for small and medium-sized facilities may worsen after tenants have relocated to larger facilities.

Source: CBRE with comments from Bear Logi

Sumitomo Trust & Banking and AXA Real Estate Investment Managers of the AXA Group signed a joint agreement in March 2010. This agreement outlining their fund targeting real estate in Japan and their individual responsibilities is based on the basic agreement exchanged by the two companies in October 2009, aiming at equity of 50 billion yen ($520 million) and an AUM of 100 billion yen ($1 billion).

Source: Nikkei

Tokyo – A new commercial, office and entertainment precinct with environmentally friendly features is to be built in Odaiba, located in the central area of the Tokyo waterfront. The development is a partnership between 4 Japanese companies: Mitsui Fudosan, Daiwa House, Sankei Building, and Fuji TV. The complex is scheduled to be completed for opening in spring 2012.

The site covers 33,000 square meters and features a 9 story commercial building and 21 story office building. The theme for the site is "theatrical urban space." The middle of the site will have a "Festival Plaza" that will encompass fashion, entertainment, restaurants etc and hold large events throughout the year produced by Fuji TV.  

 

The project will utilize environmentally friendly ‘eco buildings’ with roof top gardens, roof top vegetable growing areas, solar panels and wind turbines.

Source: Sankei

Japan’s Sagawa Global Logistics Group, has opened a new distribution center in Shanghai, China to support its local 3PL operations.

Sagawa plans to expand their international logistics business and operations in and around China's coastal regions. The opening of the Shanghai distribution center reflects this.

The Taopu distribution center is located in the northwest of Shanghai, 40 minutes by car from Shanghai city center, situated in a very convenient location just 30 minutes from Hongqiao Airport in Shanghai.

The huge China market has attracted many Japanese companies which are looking for shippers around Shanghai. Many Japanese businesses are expanding their shops and mail order businesses and therefore need logistics services in China. The requirements for logistic services are not only from Japan to China but China to Japan and Chinese Domestic.

By providing the same quality service Sagawa offers in Japan, they hope to expand to customers across China with their foothold in Shanghai.

Summary

Name of facility :         Taopu Distribution Center

Location:                    Logistics Park North, Phase II, Taopu, Shanghai  

Outline of facility: Floor area: 4,920 m2,  ceiling height 9m, floor load capacity 3t

Source: Summary from Sagawa Holdings

China's economy continued to expand in the first quarter of 2010 according to the China National Bureau of Statistics (NBS). The growth rate was 11.9 percent year on year to 8.06 trillion yuan ($1.19 trillion), which is 5.7 percentage points higher than the same period last year.

China's consumer price index (CPI), a main gauge of inflation, rose 2.4 percent year on year in March, 0.7 percentage points lower than the previous month.  CPI for the first quarter was however up 2.2 percent.

The producer price index (PPI), a major measure of inflation at the wholesale level, rose 5.9 percent in March from a year earlier.

Source: NBS and China Daily

Germany's Deutsche Post AG and automobile manufacturer Volkswagen AG are stepping up their long-standing cooperation with a five-year contract valid as of April 1, 2010.

·     Under the contract, DHL Supply Chain - the specialist for contract logistics within the Deutsche Post DHL Group - will provide a major part of the in-plant logistics for the Volkswagen assembly plant in Bratislava, Slovakia.

·     DHL was awarded the business following a competitive international tender process.

·     Some 800 DHL employees will manage in-plant logistics for 50 % of the production materials of the models produced by the Volkswagen Group in Slovakia's capital; this involves engines, gear boxes and windscreens for the Audi Q7, Porsche Cayenne and Volkswagen Touareg.

·     Services provided will include inbound receiving, put away and storage, picking and kitting, sequencing and line-side deliveries directly to the Volkswagen production lines.

Source: Dow Jones

The fourth quarter RICS Global Property Sustainability Survey shows that the vast majority of real estate investors place ‘some to considerable’ importance on sustainability issues.

According to real estate agents, Chinese, South African and Japanese clients put particularly heavy importance on sustainability issues. 56% of survey respondents in China rated sustainability as “Very Important” to their clients, whereas in Hong Kong, the same number of respondents rated sustainability as of average importance.

Investment return and business profit were the main reason driving clients’ sustainability agenda. On average, energy efficiency was the most important sustainability issue for respondents’. In China, transport issues were the most important sustainability issue.

The survey shows that sustainable development will be a major focus among property developers and investors in the coming decades due to increased awareness on climate change. Asian countries such as Japan, China, Hong Kong and Singapore are among the top countries having awareness on sustainability according to the survey.

Source: RICs Asia

With its long history as the gateway city to Asia, Fukuoka is now considered one of the “Most Livable Cities” in the world.  We would like to invite you to a panel discussion event featuring representatives from Fukuoka REIT, Kyushu University, Fukuoka Urban Laboratory and the Fukuoka City Government, to see what keeps Fukuoka City competitive.

This is a rare chance to discuss issues currently faced by the Japanese real estate market such as sustainable development, demographics, and sustainable business opportunities, with our expert panelists:

Koichiro Aitani – Associate Professor, Department of Architecture and Urban Design, Faculty of Human-Environment Studies, Kyushu University

Toshiaki Amamoto – Director, Section for Attracting Foreign & Domestic Enterprises, Fukuoka City Government

Taichi Goto – Principal, Fukuoka Urban Laboratory

General Manager, Tenjin Meiji-dori Ave. Development Council

Masayasu Saki – CEO and Representative Director, Fukuoka REIT

ULI will be giving away TWO FREE PASSES to the ULI Japan Summer Conference to attendees in a random drawing. Don’t miss out on this opportunity! Be there!

Discussion Points:

·  How has Fukuoka executed sustainable urban development?

·  What ingredients make Fukuoka a more “Livable City”?

·  How will Fukuoka remain Japan’s gateway city to Asia with increased domestic competition?

·  How will the city respond to Japan’s changing demographics?

·  How has the city promoted the investment to become a global “retail city”? What opportunities still await in this sector?

Location: Daiwa House Tokyo Office – Thursday, April 22, 2010

18:30-19:00    Reception

19:00-19:30    Panel Discussion

19:30-20:10    Q&A Session with Participants

20:00-21:00    Networking reception (same venue)

YLG Members   3,500 yen

ULI Members    4,500 yen

JIA Members    5,000 yen

Non-members  6,000 yen

Register Today! Space is Limited!

* Please contact the ULI Japan office if you have any questions regarding the event, or if you would like to register.

** Drinks and finger food will be provided.

*** Consecutive interpreting will be provided.

*** Participation is limited to the first 50 registrants.

· Please complete payment of the participation fee via bank transfer to the ULI account (please contact ULI for details).

· ULI is unable to accept cash payments at the door on the day of the event.

· If you wish to have an invoice issued, please contact the ULI Japan office and they will be happy to issue.

ULI Japan

COI Uchikanda Building 8F

3-2-8 Uchikanda

Chiyoda-ku, Tokyo101-0047

TEL: 03-5297-6132

FAX: 03-5297-6133

Email:info@japan.uli.org

With its long history as the gateway city to Asia, Fukuoka is now considered one of the “Most Livable Cities” in the world.  We would like to invite you to a panel discussion event featuring representatives from Fukuoka REIT, Kyushu University, Fukuoka Urban Laboratory and the Fukuoka City Government, to see what keeps Fukuoka City competitive.

This is a rare chance to discuss issues currently faced by the Japanese real estate market such as sustainable development, demographics, and sustainable business opportunities, with our expert panelists:

Koichiro Aitani – Associate Professor, Department of Architecture and Urban Design, Faculty of Human-Environment Studies, Kyushu University

Toshiaki Amamoto – Director, Section for Attracting Foreign & Domestic Enterprises,

Fukuoka City Government – Taichi Goto – Representative Director and President, Fukuoka Urban Laboratory

Masayasu Saki – CEO and Representative Director, Fukuoka REIT

Discussion Points:

Daiwa House Tokyo Office – Thursday, April 22, 2010

18:30-19:00 - Reception

19:00-19:30 - Panel Discussion

19:30-20:10 - Q&A Session with Participants

20:00-21:00 - Networking reception (same venue)

YLG Members - 3,500 yen

ULI Members - 4,500 yen

JIA Members - 5,000 yen

Non-members - 6,000 yen

* Please contact the ULI Japan office if you have any questions regarding the event, or if you would like to register. 

** Drinks and finger food will be provided. 

*** Consecutive interpreting will be provided. 

*** Participation is limited to the first 50 registrants.

ULI Japan

COI Uchikanda Building 8F

3-2-8 Uchikanda

Chiyoda-ku, Tokyo 101-0047

TEL: 03-5297-6132

FAX: 03-5297-6133

Email: info@japan.uli.org

A Chinese economic policymaking official released at the Boao Forum for Asia 2010 that China is going to issue a new foreign investment policy next week in order to lure quality and environmentally friendly foreign investment. 

"China encourages foreign investment in hi-tech, environmentally friendly industries instead of industries that consume energy and resources excessively and cause pollution," said Zhang Xiaoqiang, vice minister of the National Development and Reform Commission, China's top economic policymaker, at the Boao Forum for Asia 2010 in Boao, Hainan Province.　Zhang also said a new foreign investment policy will be coming out soon next week in an attempt to lure high-quality, environmentally friendly foreign investment and to promote sustainable, eco-efficient use of natural resources. China needs to transform itself from an excessive energy consumer and polluter to an economy that relies more on high technologies, from a world factory to a domestic consumption-oriented one, Zhang said.

Zhang said it was "imperative" to do so. In 2009, China's GDP was US$4.7 trillion, or 8 percent of the world's total. But it consumed 18 percent of world's energy resources and was the world's largest emitter of sulfur dioxide.

Zhang said China faces opportunities and challenges for this transformation. He said that while China has opportunities to develop a green and consumer-oriented economy, there is relatively low innovation and incorporation of new technologies into the economy.

In addition to the government policy support mentioned by Zhang, Daigee Shaw, president of Taiwan-based Chung-Hua Institute for Economic Research and a panelist at the forum, said the practical way to develop a green economy is by increasing prices for energy and resources. This would push every industry and individual to conserve them.

Shaw said he doesn't advocate government subsidies that many countries, including China, have for the green industry because it's neither a long-term nor practical way to green growth.

The BFA, established in 2001, is a pan-Asian platform of dialogue for key issues affecting Asia and the world. The theme of this year's meeting is "Green Recovery: Asia's Realistic Choice for Sustainable Growth."

Source: China Daily

The Shenyang experimental economic zone plan has been approved by the State Council for northeast China's Liaoning Province, making the Shenyang economic zone the eighth experimental reform region in China, according to the governor of Liaoning Province.

The theme of the zone's reform plan is "new industrialization," emphasizing information technology in the region's industrial upgrading.

The Shenyang economic zone, centered on Shenyang city, covers an area of 75,000 square kilometers and includes seven other cities, namely Anshan, Fushun, Benxi, Yingkou, Fuxin, Liaoyang and Tieling.

The population of the economic zone is 23.59 million, with 65 percent residing in urban areas. The area's gross domestic product in 2009 was estimated at 998.47 billion yuan.

Sony launches "Road to Zero" environmental plan

Sony Corporation today announced its "Road to Zero" global environmental plan. The plan includes a long-term goal of achieving a zero environmental footprint by 2050. Sony's definition of zero environmental footprint is not only limited to the neutralization of carbon emissions, but also extends to waste and use of finite materials such as oil-derived virgin plastics.

Targets are based on four environmental perspectives

1) climate change,

2) resource conservation,

3) control of chemical substances and;

4) biodiversity - across all product lifecycle stages, from research and development to recycling.

The mid-term targets will be implemented globally across the Sony Group beginning in fiscal year 2011 (April 2011), and will extend through the end of fiscal year 2015 (March 2016), at which time new targets for the following 5 years will be set. Specific mid-term targets include:

Sony has already made significant progress in reducing its environmental impact around the world. Sony's European sites, for example, have reduced their CO2 emissions from electricity use and facility heating by approximately 93% between fiscal years 2000 and 2009.

In Japan, Sony is the only company that voluntarily collects used small-sized consumer electronics on an experimental basis jointly with a municipality, Kitakyushu City in southern Japan. Gold, silver, bronze and palladium are extracted from the products discarded by city residents and are subsequently reused by Sony.

In addition, the new VAIO W eco edition, launched in most major global markets this year and designed to be the industry's most environmentally friendly laptop, features recycled plastic parts, an electronic manual and an innovative carry-bag that saves 10% in CO2 emissions during production.

Sony's fiscal year 2015 targets to reduce greenhouse gas emissions and power consumption per product were reviewed and approved by the World Wide Fund for Nature (WWF).

Source: www.sony.net

The Tokyo Supply Chain Management Group will hold it’s first meeting of 2010 in Roppongi, Tokyo on Friday, April 23rd from 6 - 9pm. 

The location is ‘Propaganda’ http://www.propaganda-tokyo.com/

This casual event is open to anyone with an interest in logistics real estate and supply chain issues in Japan and is a great opportunity to network and exchange ideas.

We hope to see you there!

Bear Logi Co.,Ltd

China's Purchasing Managers' Index (PMI) of the non-manufacturing sector rose to 58.4 percent in March, a recovery of 12 percentage points from February, when the index fell below the boom-bust line of 50 percent for the first time since a year earlier.

The PMI, designed to provide a real-time snapshot of business conditions, includes indices for new orders, inventory levels, production and others that measure economic performance. A reading of above 50 percent suggests expansion, while one below 50 percent indicates contraction.

The rise of the index indicated robust market activities in service sectors, which combined with an optimistic outlook that would encourage private investment and promote healthy and coordinated development of national economy, said the China Federation of Logistics and Purchasing (CFLP) vice president Cai Jin.

According to the CFLP survey, the new order sub-index for China's non-manufacturing sector climbed to 54.6 percent last month, up 8.4 percentage points than February. The outlook sub-index was 70.4 percent, up 2.4 percentage points.

The CFLP survey covers 20 non-manufacturing industries, including logistics, wholesale, hospitality, supermarkets and construction.

The PMI for manufacturing sectors rose to 55.1 percent in March, the 13th straight month that the index was above 50 percent.

Source: China.org.cn

Date: Thursday, July 8 09:45 – 20:00

Location: Tokyo Midtown Hall & Conference

Description: Welcome Addresses

Hitoshi Saito – ULI Japan Council Chairman and Executive Managing Officer, Mitsui Fudosan Co., Ltd. (Mitsui Real Estate Co.)

Two Keynote Speakers will address the ULI Japan Summer Conference 2010

1) Jitsuro Terashima, Chairman of the Japan Research Institute.

One of Japan’s foremost global strategists, Terashima is a close advisor to Japanese Prime Minister Yukio Hatoyama. In a recent article, Terashima decried the idea of Japan continuing to be in lockstep with the U.S., advocating the development of a post Cold-War foreign policy framework and Japan’s serving as a bridge between the U.S. and Asia, while also monitoring and contributing to the evolution of America’s growing relationship with China, and lending support to China in its emergence as a member of the international society in the new global order.

Terashima’s address will be followed by a panel of successful corporate leaders discussing the future of Japan and their recipes for growth. Following lunch, ULI Japan will present two panel discussions – the first on the internationalization of Haneda Airport and its effects on Japan’s economy and real estate market as well as on Japan’s position in Asia, and the second covering global and Japanese capital market status, trends and forecasts, joined by industry experts live from London with the aid of a cutting-edge remote connection.

2) Peter Tasker, a leading authority on Japanese equity markets and the Japanese economy, discussing how Japan can pull itself out of its present lethargy and achieve the robust success of the past.

Tasker has been ranked one of the top equity strategists by Japanese institutional investors for several years, and is a founding partner of Arcus Investments which specializes in value investment in Japanese securities. Tasker, a Newsweek Japan columnist for more than a decade, has written numerous books on the Japanese economy, including Japan In Play (1999) and Japan 2020 (1997). Tasker will share with us his unique, captivating view of the present day as well as his optimism for the future.

We welcome speakers and attendees to join us at the reception, to be held on the 4th floor of Tokyo Midtown following the conclusion of the regular program.

URL: ULI Japan Summer Conference 2010

Contact: TEL: 03-5297-6132

In what is going to be an ever-more frequent occurrence, Chinese auto/battery manufacturer BYD has said it will buy a factory from auto die maker Ogihara Corporation, for an undisclosed sum. 

BYD says it will use the factory to produce high-precision metal dies for its Chinese plants. The factory was one of Ogihara's four domestic die manufacturing operations, accounting for 20% of the company's domestic production capacity.

Exhibition: FOODEX JAPAN 2010 (The 35th International Food & Beverage Exhibition)

Date:   March 2 - 5, 2010

Time:   10:00-17:00

Venue: Makuhari Messe (Halls 1-8)

Exhibits: Agricultural Products, Breads and Cereals, Confectionery, Dairy Products, Delicatessen, Dietetic Products, Eggs and Poultry, Frozen Food Products, Fruits and Vegetables, Herbs and Spices, Ingredients, Meat and Meat Products, Oils, Organic Products, Seafood, Seasonings and Condiments, Soup Stock

Beverage:　Beer, Brandy, Liqueurs, Spirits, Whiskey, Wine, Coffee and Tea, Fruit Juice, Mineral Water, Soft Drinks

Other:  Transportation & Warehouse services, Books, Magazines, Newspapers

URL: http://www3.jma.or.jp/foodex/en/about/fx01.html

Diamond Realty Management Inc, a wholly owned unit of Mitsubishi Corp , has created an unlisted real estate fund specializing in logistics facilities.

The warehouse investment fund will have overall assets of about 23.4 billion yen ($259.2 million). Mitsubishi will invest in it, as will institutional investors and pension funds in Japan and others. The fund is to be operated for five years and will invest in five logistics warehouses: four in greater Tokyo and one in Kyushu.

The company aims to more than double assets under management to 500 billion yen in three years by launching more funds.

Source: Nikkei & Diamond Realty Management

Japan’s 38 publicly traded real estate investment trusts more than doubled the purchase of property in the first quarter as credit conditions eased, a research firm said. Acquisitions totaled 229 billion yen ($2.45 billion) in the three months ended yesterday, compared with 108 billion yen a year earlier, according to data provided by IB Research and Consulting Inc. Thirty-nine properties were bought, the most since the third quarter of 2008 when the collapse of Lehman Brothers Holdings Inc. froze global credit markets. “We are expecting this recovery trend to continue,” Daisuke Seki, chief executive officer of the Tokyo-based firm, said in an e-mail. “The pick-up in the fundraising environment has helped.”

The increase in purchases came as the nation recovered from recession and the government started a fund to provide financing for the REIT sector in September. The benchmark TSE REIT Index, which is at less than half its 2007 peak, has gained 5.2 percent this year.

Japan property trusts were most active in 2006, buying 563 properties. In 2009, the number of acquisitions plunged to 57, IB Research said. REITs derive most of their profit from rental income and pay out the majority of it as dividends.

Japan opened the REIT market in September 2001, with its first two REITs, Nippon Building Fund Inc. and Japan Real Estate Investment Corp., playing catch-up in developing the securities pioneered by the U.S. in the 1960s. The TSE REIT Index had a record value of about 6.79 trillion yen in May 2007, compared with about 2.9 trillion yen today.

Date: Thursday, July 8 09:45 – 20:00

Location: Tokyo Midtown Hall & Conference

Description: Welcome Addresses

Hitoshi Saito – ULI Japan Council Chairman and Executive Managing Officer, Mitsui Fudosan Co., Ltd. (Mitsui Real Estate Co.)

Two Keynote Speakers will address the ULI Japan Summer Conference 2010

1) Jitsuro Terashima, Chairman of the Japan Research Institute.

One of Japan’s foremost global strategists, Terashima is a close advisor to Japanese Prime Minister Yukio Hatoyama. In a recent article, Terashima decried the idea of Japan continuing to be in lockstep with the U.S., advocating the development of a post Cold-War foreign policy framework and Japan’s serving as a bridge between the U.S. and Asia, while also monitoring and contributing to the evolution of America’s growing relationship with China, and lending support to China in its emergence as a member of the international society in the new global order.

Terashima’s address will be followed by a panel of successful corporate leaders discussing the future of Japan and their recipes for growth. Following lunch, ULI Japan will present two panel discussions – the first on the internationalization of Haneda Airport and its effects on Japan’s economy and real estate market as well as on Japan’s position in Asia, and the second covering global and Japanese capital market status, trends and forecasts, joined by industry experts live from London with the aid of a cutting-edge remote connection.

2) Peter Tasker, a leading authority on Japanese equity markets and the Japanese economy, discussing how Japan can pull itself out of its present lethargy and achieve the robust success of the past.

Tasker has been ranked one of the top equity strategists by Japanese institutional investors for several years, and is a founding partner of Arcus Investments which specializes in value investment in Japanese securities. Tasker, a Newsweek Japan columnist for more than a decade, has written numerous books on the Japanese economy, including Japan In Play (1999) and Japan 2020 (1997). Tasker will share with us his unique, captivating view of the present day as well as his optimism for the future.

Speakers and attendees may also attend a reception, to be held on the 4th floor of Tokyo Midtown following the conclusion of the regular program.

URL: ULI Japan Summer Conference 2010

Contact: TEL: 03-5297-6132