Yokohama city to sell land at Torihama-cho, Kanazawa - (20/12/2010)
The city of Yokohama, for rationalization of assets is making a public sale of city-owned land at Torihama-cho, Kanazawa-ku by the fixed price proposal method. To ensure this fixed sales method is effective, fair and equitable, a screening panel will review the contents of the project.
The southern coastal industrial area where the city-owned land is for public sale (public offering land) is located is an area which has manufacturing and distribution bases using maritime traffic as well as R&D facilities.
Given the land is located in the harbor district (industrial port area) and can utilise maritime traffic. it is considered rare.
Therefore, in this public sale, the expected projector will be determined in an appropriate manner by the fixed price proposal method. The application guide will be distributed from December 15, 2010.
Overview of public offering
1. Overview of public offering land
10-6 and 9, Torihama-cho, Kanazawa-ku
Category of land
Area (actual measurement)
Zoning (building coverage ratio / floor area ratio)
Industrial use only zone (60% / 200%)
about 3.3km from JR "Shin-sugita” station
about 1.5km from Seaside Line "Torihama" station
2. Scheduled intended use
As specified below out of the intended use of harbor district (industrial port district)
- Plant and its ancillary facilities operating manufacturing business which depends on maritime or harbor transport for transportation of raw materials or products and associated business
- Wholesale and exhibition facilities and distributive processing facilities attached to the plant of above and ancillary facilities of these
- Shipyard and its ancillary facilities
R & D facilities
- Research and development facilities regarding science technology (excluding one related only to humanities) and its ancillary facilities
Distribution business facilities
- Wholesale and exhibition facilities and distributive processing facilities attached to the facilities for disposal of goods and for storage and ancillary facilities of these
- Truck Terminal and its ancillary facilities to be used for the transportation of cargo by using the port
3. Public sale price
JPY 543,175,944 in total (Unit price: JPY 58,200 / m2)
4. Schedule of public offering
Distribution of application guide
From December 15, 2010
Acceptance of applications
From January 24, 2011 to January 31, 2011
Decision of the expected projector
At the end of March 2011
*The expected projector will be decided after reviewed by the committee separately established.
5. Point of contact for application guide, inquiry and acceptance of application
Property Coordination Section, Contract Property Department, General Affairs Bureau, City of Yokohama
+ Grosvenor to launch new property fund in Japan - (15/12/2010)
Management has appointed Mr Morgan Laughlin to the newly created role of
Managing Director for Grosvenor Fund Management, Asia Pacific based in Tokyo.
is part of the investment managers' efforts to increase capital allocation to
Asia and grow the fund management business in Asia.
A new multi-sector property fund will be launched in Japan where Grosvenor has been
operating since 1994. It currently has three funds in Japan and one in China on behalf of 24 investors.
+ Daiwahouse to develop “Hokusetsu Sanda 2nd Techno Park” in Sanda city, Hyogo prefecture - (13/12/2010)
On 6 Dec. 2010
Daiwahouse Industry Co., Ltd got an approval from Hyogo prefecture on the land
reallocation project of “Hokusetsu Sanda 2nd Techno Park” (HSTP2). This is the
largest development of industrial park in Daiwahouse’s history and it will
start development in Jan. 2011. Further, it will proactively try to attract
enterprises to the HSTP2.
On 17 Sep. 2009, Daiwahouse concluded the tentative land transfer
contract with the Urban Renaissance Agency
(UR) in order to have business succession on the land which UR
had planned to develop as “HokusetuSandaSecondTechnoPark”.
And on 6 Dec. 2010, Daiwahouse got an approval from Hyogo prefecture on land
reallocation project and will develop the HSTP2.
Together with “HokusetsuSandaTechnoPark” next to the HSTP2, the
total project area is about 233ha and this is the second largest industrial
park in the inland area of Hyogo prefecture.
In the HSTP2,
various type of enterprises can scrap and build bases such as large facilities;
manufacturing and logistics ones, and laboratory, as well as establishment of a
new base of the area.
project area is approximately 97ha (approx. 290,000 tsubo, 957,000m2). The area
scheduled to be sold is about 23.2ha (about 70,000 tsubo, 231,000m2) in the
first period and about 23.8ha (about 72,000 tsubo, 237,6000m2) in the second
The HSTP2 is a large industrial park which plays a part of Sanda
Hokusetsu New Town in Sanda city, Hyogo prefecture. It is about 50km far from Osaka city and about 40km far from Kobe city, which means it is within economic
zone and commutable area of these cities.
2.3. In the future
to conclude the land transfer contract with the UR agency in January 2011. From
now on it will start land preparation work and selling project land on
condition that the purchaser shall give the seller a contract for the building of
Daiwahouse will aim to revitalize the area by proactively attracting
enterprises to the HSTP2 in collaboration with Hyogo prefecture, Sanda city and
the UR.At the same time it will propose welfare facilities (residence,
dormitory, corporate housing, etc.) for the enterprises to move into the HSTP2.
3. Overview of
Name: “Hokusetsu Sanda 2nd TechnoPark”
Location: Kami-uchigami and Shimo-aino, etc., Sanda city, Hyogo
Project scale: to be about JPY 30 billion (USD 357 million)
Total project area: about 97ha (about 290,000 tsubo, 957,000 m2)
Area to be sold: about 47ha (about 142,000 tsubo, 468,600 m2)
6 Dec. 2010Approval on land reallocation project from
Jan. 2011Conclusion of land transfer contract
of the 1st period land preparation work (schedule)
of the 1st period sales (schedule)
Mar. 2013Completion of the 1st
period land preparation work (schedule)
Apr. 2013Beginning of the 2nd
period land preparation work (schedule)
Mar. 2015Completion of the 2nd
period land preparation work (schedule)
+ Result of takeover of common shares and new share subscription right in J-REP Co., Ltd - (07/12/2010)
Macquarie Goodman Japan Pte Ltd (MGJ) started a takeover of common shares and new share subscription right in J-REP Co., Ltd (J-REP) a Japanese industrial real estate and fund management company on 18 Oct. 2010 and ended it on 1 Dec. 2010.
1. Overview of takeover
1.1 Name and address of the acquirer
Macquarie Goodman Japan Pte Ltd
6 Battery Road, # 33-01, Singapore049 909
1.2 Name of the target
J-REP Co., Ltd
1.3 Kind of shares for takeover
Common shares and new share subscription right
1.4 Number of shares to be acquired
- Number of shares to Be Acquired: 172,299
- Upper and lower limit of number of shares to be acquired: None
1.5 Period of takeover
- Scheduled Period of takeover: from Mon., 18 Oct. 2010 to Wed., 1 Dec. 2010 (31 working days)
- Possibility of extension based on the request of the target: None
1.6 Price of takeover
- Common share: JPY 35,000 per share
- New share subscription right: JPY 1 per right
2. Result of takeover
- Outcome of takeover: since upper nor lower limit of shares to be acquired had been set in this takeover, all the shares applied for this takeover are to be acquired.
- Number of shares acquired
3. Policy after the takeover and future prospect
In view of the number of the shares applied, MGJ is now looking to follow the procedures to acquire 100% ownership of J-REP written on the takeover start publication and takeover notification form. In the future, once MGJ decides to do so, MGJ or J-REP will make an immediate announcement. Furthermore, MGJ may consider acquiring common shared of the target additionally in the market in the future.
+ Japanese General Contractors and Expected Cap Rate Research - (06/12/2010)
Bear Logi has released 2 new data sheet
reports on the Japanese Industrial Real Estate Market. The reports outline Japanese
general contractors and transition of expected cap rate of logistics property in
Japanese major cities.
+ Japanese Land Use Zoning, Planning and Construction Research - (01/12/2010)
Bear Logi has released 2 new data sheet
reports on the Japanese Industrial Real Estate Market. The reports outline the
typical zoning, planning and construction process flow in Japan for the
building of warehouses and logistics properties.
+ Japanese land prices begin to stabilize - (30/11/2010)
values declined at fewer prime sites for the fourth consecutive quarter as
buyers returned to buy condominiums amid incentives including housing-related
tax breaks, a quarterly government survey.
Values fell at
58 percent of monitored sites as of Oct. 1 from July 1 compares with 70 percent
three months earlier, 82 percent in the quarter before that, and 96 percent in
the prior quarter.
The declines in
land values slowed as the drop in prices of condominiums attracted buyers and
as those in the major commercial real estate areas reversed their slide after
+ Tohbu Network to complete Hokuriku Logistics Center (tentative) in March 2011. - (26/11/2010)
As part of its 3PL project (logistics package), Tohbu Network Co.,
Ltd. is now constructing a large logistics center nearby Tonami factory of
Hokuriku Coca-Cola Bottling Co., Ltd. which is the cargo owner. It is located
at 4km from Tomani IC of Hokuriku Expressway and 5km of Kosuki IC. With the
opening of Tokai-Hokuriku Expressway, it has better traffic accessibility and
will be a key national logistics hub.
+ NTT Logisco completes new warehouse in Chiba - (22/11/2010)
On 19 Nov.
2010, NTT Logisco, Inc. completed a new warehouse (building D) at ChibaLogisticsCenter located in Ichikawa
The new 6-story logistics property (with 4-story for warehouse) has a total
floor area is about 29,540m2.
It is built to respond to the increased demand of “high value added services” such
as mail-order, medical equipment and precision equipment inspection.
It will be
eco-friendly by using LED lighting (about 1,600 units) and by possible introduction of solar power generation system. Monitoring cameras and fingerprint
authentication security are also installed.
The effective ceiling height of the warehouse is 6m and the span is
set considering installation of storage racks. Air-conditioning currently covers 80% of the warehouse with the system possible
to be installed on all the floors. The industrial warehouse property also is equipped with earth quake-resistance
capability 1.25 time stronger than current standards.
The warehouse is also equipped with 6 cargo elevators
and 5 dock levelers.
In the future, NTT
Logisco will undertake the rebuilding of Chiba
Logistics Center Building A and construct a new warehouse at YaoLogisticsCenter.
Overview of the new warehouse buliding
Name: NTTLogiscoChibaLogisticsCenterBuilding D
Address: 717-88, Futamata, Chiba city, Chiba prefecture
Access: 1.5km from Baraki IC of Keiyo Road, 3.0km from Chidori-cho IC of
Bayshore RouteofShuto Expressway and 5-minute walk from Futamata Shinmachi
station of JR Keiyo line
Site area: About 37,000m2 in total as ChibaLogisticsCenter (about 13,200m2
Total floor are: about 60,000m2 in total for building A, B, C and D (about
+ Logistics property market trends in Nagoya, Japan - (18/11/2010)
On Nov 12. 2 010, Japan Field Logistics Institute, Inc. (Jlfi) released the Survey Report on "Property Market Trend in Logistics Nagoya".
The data of Greater Nagoya (about 170 logistics properties larger than 1000 tsubo <3,300 m2>) used in data analysis was collected in Sep. And Oct.2010.
It Comprises Mainly Chapters 2: "Large leased Logistics Property Market Trend in Greater Nagoya" and "Logistics Property Market Trend by Region".
1. Large leased logistics property market trend in Greater Nagoya
Data Shows That has Jlfi the total Floor Area of the Logistics Properties in Greater Nagoya is large Tsubo Approximately 690,000 (2,277,000 M2). According to Jlfi's with the Same Data Standard, Tsubo Roughly Compared with 5,000,000 (16,500,000 M2, seven hundred and fifty Properties) in Greater Tokyo, 1,800,000 tsubo (5,940,000 m2, 345 properties) in Greater Osaka and 730,000 tsubo (2,409,000 m2, 202 properties) in Greater Fukuoka, Nagoya is the smallest area among these four big cities in Japan. However, properties of more than 200,000 tsubo (660,000 m2) are concentrated not in broad area, but in narrow area around Komaki and Nagoya bay area.
Of this Region in the Inland Area, District warehouses are Concentrated Around Komaki. In 1 970's construction of an Inland Logistics Properties Started Because Komaki is a node of Industrial and Highway District, and construction is Still Ongoing After two thousand. Major Business Warehouse local providers have multiple bases in this area. The inland area has some large leased developing properties, but in general it has a little leased logistics properties.
In bay area logistics properties are located mainly behind the NagoyaPort, Alongside Nagoya
bay. In the southern part of Nagoya
city, there are plenty of facilities of old warehouse business providers, port logistics business providers, 3PL providers and shippers.
2. Logistics property market trend by region
Greater Nagoya has 5 characteristic area: NagoyaPort
east bank district (Minato ward to Tokai city), Nagoya
city central district (Minato ward to Nakagawa ward), NagoyaPort central and west bank district (Tobishima to southern Yatomi), Komaki to northern Nagoya district and Centrair district. In Greater Nagoya there is few logistics properties for short / mid-term leasing, so it can hardly be said that leased properties market has been formed to the fullest extent. Therefore, currently the rent level remains stagnated due to drastic economic slump in this region. In the future, since provision of leased logistics properties will be limited, the rent level will become appropriate in accordance with economic recovery, mainly for mid / large leased properties in assured compliance.
At present, in any area the rent is weakened and the standard is possibly about 3,000 JPY / tsubo (3.3 m2) except urban area like inside of Nagoya city.
+ IIF announces the change of tenant at ITF Koshigaya Logistics Center: from Logione to Family Mart - (04/11/2010)
On 1 Nov. 2010, Industrial &
Infrastructure Fund Investment Corporation (IIF) announced that the tenant of “ITFKoshigayaLogisticsCenter”will be
changed from LOGIONE Co., Ltd to TSUKASA based in Kazo city, Saitama
TSUKASA is a general cargo transport
company and Family Corporation Inc. which does logistics business for Family
Mart jointly guarantees all the debt of TSUKASA.
The leased area is 10,113m2 and the lease will
begin on 1 Jan 2011 for 10 year period. The annual rent is JPY 151 million (JPY
The former tenant , LOGIONE (logistics
company of DAIEI group) is promoting consolidation to the logistics facilities
owned by DAIEI and will terminate the contract at the end of Dec. 2010, the
Following this decision, invitation
activity for new tenant has resulted in a new contract with TSUKASA which is commissioned
to operate distribution centers for Family Mart stores.
LOGIONE has already paid the rent for
the expiration date and left the facility on 30 Sep. 2010. The facility will be
under construction for repair before the new tenant moves in on 1 Jan. 2011.
The new tenant plans to have this
center as “Family
Mart Koshigaya Room Temperature Center (tentative)”, handle
daily commodity items such as processed food, sweet stuff, drink and liquor,
and distribute the products to 400 stores in the northern Tokyo and southern Saitama.
In order to have effective logistics
business, it also plans to strengthen logistics service to Family Mart stores
in the following manners: establishing more accurate operation by handling the
orders from Family Mart stores through the warehouse management system, having
it linked to service support system for sorting in warehouse for distribution,
and introducing various logistics equipments like handy terminal and belt
Making use of the period before the move-in
day, 1 Jan. 2011, renewal construction work for eco-friendly facility will be
conducted to switch the aging equipments to energy-saving ones.
+ Suzuken to start operating a new logistics hub for medical goods in Inzai city, Chiba - (04/11/2010)
On 8 Nov. 2010, Suzuken Co., Ltd is to
start operating “ChibaLogisticsCenter” (in
Inzai city, Chiba
prefecture), which is the third logistics hub for medical goods in Kanto
< ChibaLogisticsCenter >
With JPY 6.5 billion spent for facility
has a logistics center with 21,727m3 of total floor area on the land of
30,000m3, where 21,000 items will be stored.
Covering the area of Chiba,
Ibaragi and a part of Tokyo
prefectures, this center will try to make the delivery lead time shorter and
out-of-stock rate lower. It is capable of shipping the items worth JPY 220
billion per year.
Introduction of original warehouse
management system makes it possible to control the lot number and expiry date
of the products delivered and to recall target medical products quickly in case
of recall due to production failure, etc.
Moreover, the center ships the goods
highly accurately using digital picking system and POS goods inspection system
while it has strict control according to the characteristics of each product, installing
vein authentication system at center control room and special warehouse which
drug, poison, toxic and deleterious substance, etc.
Also, the center is secured by
comings-and-goings-control in all the facilities using noncontact card with IC
tip as well as 24-hour monitoring by security cameras.
Solar power generation panel whose max.
capacity is 20kw are installed on the south side of the center and LED lighting
is partly used.
Suzuken is aiming at early realization
of logistics scheme to have 9 logistics centers nationwide and improvement of
quality control precision of the products by introducing traceability system
In addition to Sapporo, Toda (Saitama
prefecture), Kanagawa, Konan (Aichi prefecture), Hanshin (Hyogo prefecture)
currently in operations and this Chiba Logistics Center, 9 middle-size
logistics centers nationwide together with Miyagi, Okayama and Fukuoka, and 8
products centers which will support thosemiddle-size ones will be scheduled to set up.
Overview of ChibaLogisticsCenter
Address: 1-1-1, Midori-dai, Inzai-shi, Chiba
Site area: 30,000.00m2
Building area: 11,226.44m2
Total floor area: 21,727.49m2
Structure: steel-framed, 2-story above ground
+ Yamato Japan to build USD $1.73 billion logistics property near Haneda Airport - (26/10/2010)
On 25 October 2010, Yamato Holdings announced
that it will construct “Haneda
Total investment amount is JPY 140
billion (USD 1.73 billion). Yamato will invest about JPY 54.2 billion (USD 670
million) in construction and facilities on the land of about 100,000m2 located
at Haneda-Asahicho, Ota-ku, Tokyo, which had been acquired from Ebara
Corporation for JPY 85.4 billion (USD 1.06 billion, including 12-story
building) in April 2008. The terminal will be of about 200,000m2 of total floor
area most of which will be for a logistics building.
Rendering of Haneda Logistics Terminal
expects construction to begin in January 2011, completion in July 2012 and
operation to start in October 2012.
General plot plan of Haneda Logistic Terminal
Haneda Logistics Terminal is a
integrated solution terminal to correspond to the needs for supply-chain
management in whole Asian region, and a showcase terminal which shapes the
One of the main functions of this new
terminal is “direct
which passes customs and distribute the goods arrived from overseas. This makes
it possible to reduce the number of stock hubs, and provides logistics cost
reduction and promotion of streamlining.
which does break-bulk of the goods coming from overseas and quickly ships out,
makes stock turnover better and stock amount very few. By speedy correspondence
to changing market, Yamato helps to establish efficient production and sales
Together with the above, “multi
which provides domestically and internationally complicated logistics model
with diverse transportation methods, provides the most appropriate
land-sea-and-air transportation mode corresponding to the needs.
and distributive processing function” such as product processing, kitting
and maintenance provides speedy, safe and secured delivery to end-user.
The logistics building is 6-story above
ground (L 114m x W 240m x H 48.6m) and has about 170,000m2 of total floor area.
The state-of –the-art
material handling equipments like “big package assortment machine” and ”small
package assortment machine”
are to be introduced.
By installing material handling lines symmetrically
and having a new operation which enables highly changeable performance
according to time slot and purpose of use, assortment efficiency will be
With these equipments, Yamato is trying
to have complete automation and make cargo handling capability 50% better than
conventional type terminal. Also it is to minimize logistics-related time and
travel distance in collaboration with truck berths for more than 200 trucks. The
lowering rate of operational workers and working hours achieved by automation
is expected to be about 44%.
At the same time, Yamato plans to
introduce the latest systems such as one which understands the amount of cargo
and operational status in the terminal, another one which properly leads
vehicles on the site. Presentation facility to let visitors realize “next
and facility observation tour course are to be installed.
The Yamato group companies to be tenanted
are as follows: Yamato Logistics, Yamato Packing Service, Yamato Global
Logistics Japan, Yamato Multi- Maintenance Solutions, Yamato Packing Technology
Institute, Yamato Home Convenience, Yamato System Development, Yamato
Financial, Yamato Transport, and Yamato Global Express.
As facilities for regional
contribution, Yamato will have “Wa
no Sato Park”(regional
contribution zone) on the terminal site where open space representing a satoyama- the border zone or area between
mountain foothills and arable flat land -, forum (gym) and home delivery
service center will be.
Nursery school corresponding to the
need of children waiting to get in there, and Swan Café and
Bakery to promote the employment of the disabled and independence support for
them are to be built as well.
By installation of various
environmental equipments such as making proactive use of solar energy
generation and trying to lower the heat of road with rainwater, the amount of
CO2 emission from the entire facility in expected to be reducedabout 46%, 14,000
tons per year.
Overview of “Haneda
Name: Haneda Logistics
Site: 11-1, Haneda-Asahicho, Ota-ku, Tokyo
Structure & scale: Pre-cast concrete, pre-stressed concrete and steel (6-story
logistics building, 8-story office building, max height 48.6m)
Parking: 572 vehicles (standard cars x 238, large cars x 118, trucks x 216)
Site area: 98,872.87m2
Construction area: 45,267.37m2
Total floor area: 197,697.70m2
Designed by: Nikken Sekkei
Constructed by: Kajima Corporation
+ Japanese Real Estate investment opportunity coming says Fortress - (25/10/2010)
Investment Group LLC, which has $41.7 billion of assets under management, said
there are investment opportunities in the Japanese real estate market because
some banks may sell properties as loans come due.
portion” of $50 billion worth of real estate will have to be sold in the next
three to five years as loans backed by those properties come due, according to Mr
Pulley the Managing Director of Fortress. Some Japanese banks may have to sell
properties that were used as collateral as real estate values in Japan fall
about 30 percent to 40 percent.
commercial mortgage debt in Japan
this year will reach a record high 1.12 trillion yen ($14 billion), a 59
percent increase from last year, according to an estimate by Moody’s Investors
+ Kawasaki City, to look for enterprises for Higashi-Ogijima Total Logistics Base Area (Second-stage) - (18/10/2010)
On 15 October 2010, KawasakiCity started to look for
enterprises which would forge ahead to about 9.9 ha in Higashi-Ogijima Total
Logistics Base Area.
The application period is from 15 October to 17 December 2010.
The plat for application is Higashi-Ogijima 4A area (21,444.00m2 from 88, Higashi-Ogijima, Kawasaki-ward), 4B area (16,870.98m2
from 88, Higashi-Ogijima, Kawasaki-ward）, 4C area (16,871.05m2
from 88, Higashi-Ogijima, Kawasaki-ward）, 5A area （17,509.93m2 from 86, Higashi-Ogijima,
Kawasaki-ward）, 5B area (17,509.94m2 from 86, Higashi-Ogijima,
Kawasaki-ward）、6 area (9,093.53m2 from 90, Higashi-Ogijima,
Leasing condition for these area is term leasehold interest for
business and leasing period is 20 years.
Point of Contact:
Management Planning Section, Port Management Department, Port Bureau
+ J-REP to de-list its Japan Real Estate Business - (18/10/2010)
J-REP Co., Ltd
(“J-REP”) a Japanese industrial real estate group has announced that it intends
to acquire all the common shares of the company in a move to delist from the
Mothers section of the Tokyo Stock Exchange.
become a wholly owned subsidiary of Macquarie Goodman Japan Pte. Ltd a joint
venture between Macquarie and Goodman.
participate as an investor in a new logistics real estate development fund to
be established by Macquarie and Goodman known
as ‘Japan Logistics Development Framekwork’ (JLDF)
On a successful
delisting of the company, J-REP will be renamed ‘Goodman Japan’.
details refer to the company press release here
+ Japan property shares jump on BOJ plan - (12/10/2010)
* BOJ move
likely to accelerate property market recovery
asset-buying could fuel REIT sector M&A
* Tokyo Stock
Exchange's REIT index jumps to 5-month high
Estate and other Japanese property stocks jumped on Wednesday as investors bet
the central bank's surprise plan to buy assets including real estate investment
trusts would help spur on the industry's recovery.
consolidation in the country's 3 trillion yen ($36 billion) REIT market is also
expected if the Bank of Japan pours money into selective REITs with financial
corporations that pool investor funds to buy real estate, have lost about
two-thirds of their value since peaking in May 2007 as the global credit crunch
made it harder for them to raise funds to purchase properties for growth.
But the Bank of
Japan's plan to set up a 5 trillion yen ($60 billion) fund to buy a wide range
of assets including REITs, along with cutting benchmark interest rates to
virtually zero, has brought "extremely positive" support to Japanese
REITs, said Daisuke Seki, CEO of IB Research and Consulting, a REIT
seeing an increasingly positive business environment because fund-raising is
becoming easier and now, investors are assured that the government will be
pumping money into the (REIT) market," he said.
Seki said the
BOJ's move could also accelerate mergers and acquisitions in the country's REIT
market if the central bank is seen targeting mainly REITs with bigger assets or
better financial health.
Mitsubishi Estate surged 4.2 percent, and the real estate sector's subindex
also rose 4.2 percent.
Nippon Building Fund Inc gained 5.2 percent, Japan Real Estate Investment
jumped 6.4 percent and Japan Prime Realty Investment Corp rose 1.2 percent.
That helped the
Tokyo Stock Exchange's 36-member REIT index rise 1.2 percent to its highest
close since May 6.
Bank of Japan's 5 trillion yen fund announced on Tuesday, the central bank
plans to allocate about 3.5 trillion yen to buy government debt and treasury
bills, and the remainder to purchase other assets.
To counter a
tighter lending environment and falling property prices, Japanese REITs last
year began actively pursuing mergers and acquisitions as weaker players seek
partners for survival.
consolidation, along with greater willingness among banks to offer loans, has
helped REITs improve their financial health and buy properties in the past
had acquired properties worth a total 366 billion yen in the six months to
June, more than double the figure a year ago, with more transactions expected
towards the end of this year, according to a Barclays Capital report.
latest move is also likely to support Japan's property market as a whole,
said SMBC Friend Securities Research Centre analyst Masao Bamba.
that the government will directly buy properties, but the fact that they will
pump money into the REITs and help maintain their cash status means that
property transactions in general will be activated. REITs are key vehicles in
property transactions," said Bamba.
came also when the (property) market was heading for a recovery with easier
access to banks' lending. It's positive for the overall property market,"
Betting on a
recovery in Japan's property
market, investors from the United States
to Singapore are already on
the hunt for real estate in Japan
with over $2 billion in deals cemented since late last year and more in the
+ LaSalle to acquire an in-service logistics facility in Tokyo bay area - (06/10/2010)
LaSalle Investment management Inc. announced that the fund it manages
has decided to acquire an in-service logistics facility in Tokyo bay area.
LaSalle has made a decision to acquire this property following 3 of
those in Tokyo
bay are which had been acquired in June 2010. It will expand the investment in
large high functional logistics facilities by managing of “LaSalle Japan
Logistics Fund II” and have
a plan to invest about 150 billion yen (US$ 1.8 billion) in a coming year and
Mr. Yosuke Yoshikawa, operating officer in charge of logistics department
from LaSalle Investment Management Inc., says “this logistic
facility we acquired has approximately 17,000m2 of total floor area and located close to
and we see this as a stable target of investment. By consolidating logistics hubs
for the enterprises and anticipating brisk demand for large high functional logistics
facilities corresponding to cost reduction, LaSalle will continue to acquire in
a proactive manner logistics facility which has a good location and land for development
in Tokyo metropolitan area and Kansai region and provide in a long term reasonable
Logistics Fund I and II:
The fund specialized in logistics which invests in Japanese logistics
properties with fund raised from institutional investors, major pension funds,
university funds, investment governments in USA, Europe, Middle East, Asia
region. The portfolio is about 200
billion yen (US$ 2.4 billion) and this fund is related to “Tokyo Bay Area
Logistics Facilities Portfolio”(S&LB), “NipponExpressIchikawaShiohamaCenter” (BTS), “Logiport Kashiwa”(multi-tenant), “Logiport Osaka” (multi-tenant), “HamuraLogisticsCenter”(BTS), “SumitomoChemicalLogisticsShiino-moriLogisticsCenter”(BTS),
Point of Contact:
Mr. Imaizumi, PR section, LaSalle Investment Management Inc.
Point of Contact:
Land Subdivision Section (Industrial and Logistics Subdivision Office)
Area Development Department Corporate agency
TEL: +81-(0)43-296-8756 firstname.lastname@example.org
+ Orix to install 3 logistics properties with solar power - (27/09/2010)
Japan's Orix Real Estate Corporation has decided to
install solar power generation systems at the logistics properties currently under
3 Target logistics facilities are “Kawagoe
Sangyo Danchi Logistics Center (in Kawagoe city, Saitama)”, “Ichikawa
Chidori-cho Logistics Center (in Ichikawa city, Chiba)” and “Komaki
Logistics Center (in Komaki city, Aichi)”, which
are large-scale logistics facilities with total floor area of from about 6,000
tsubo (19,834.71m2) to 22,000 tsubo (72,727.27m2) respectively.
Orix is aiming for eco-friendly facilities by
installing solar panels on the roof of these large-scale logistics facilities
and by covering a part of electricity used in theproperties.
2,160 solar panels in total will be installed in these 3 properties and
electricity of 176,160 kwh in total is expected to be generated. Generated
power will be used for lights and air conditioning in the facilities and
contribute to reduced CO2 emission.
Overview of solar power generation systems
Number of solar panels to be installed: 1,120 (module output 85W/panel)
Power generation output: 95kw
Expected production of electricity: 92,163kwh/year
Number of solar panels to be installed: 800 (module output 85W/panel)
Power generation output: 60kw
Expected production of electricity: 63,788kwh/year
Number of solar panels to be installed: 240 (module output 85W/panel)
Power generation output: 20kw
Expected production of electricity: 20,209kwh/year
Rendering for solar panel installation (IchikawaChidori-choLogisticsCenter)
Overview of properties to be installed with
solar power generation systems
Address: 5-1, Yoshino-dai, Kawagoe-shi,
Site area: 34,800m2
Leasable area: 50,200m2
Structure: steel, 3-story above ground with 4-story office, cross dock on
the ground floor
+ LaSalle to install Logi Port Kashiwa with 1.5MW solar power - (27/09/2010)
Investment Management Inc. announced that it plans to install 1.5MW solar power
generation systems to a large-scale logistics facility they manage known as Logiport Kashiwa (3-1, Shin-Toyofuta, Kashiwa-shi,Chiba). This solar plan will be one of the largest for logistics facilities
the plan, the installation work will start this month and the first 500KW
system will start operation by April 2011 and the second 1.0MW system will be
in operation by April 2013. LaSalle owns a lot of logistics and commercial
facilities in Japan
whose roof area is wide. It therefore plans to install solar panels to other
properties in the future.
The scale of 1.5MW is the largest
among the cases of solar power generation systems using the roof of buildings.
The 22,400m2 large roof of the logistics property is to be used to the utmost . Taking advantage of the output which is about 430 times stronger than standard
solar panel sets used on the roof of general houses, it will greatly contribute to
reduce CO2 emissions. The effect is estimated to be about 530 tons of CO2, which
is equivalent to about 800,000 m2, 17 times as large as Tokyo Dome, in forest
area which can absorb CO2.
One of the huge benefits of installation of this
system is that advantage of CO2 reduction will be presented to tenants who
occupy the facility. So far, most cases of installation of solar power
generation systems have been for electricity consumption in common use space of
buildings or for private use in a company. However, this system of “green”electricity
generated by solar power system is to be allocated for all the tenants and therefore tenants benefit from CO2 reduction. The analysis by LaSalle estimates that “green”electricity
could ultimately cover about one-third of the electricity used by tenants.
Name: Logiport Kashiwa
Address: 3-1, Shin-Toyofuta, Kashiwa-shi, Chiba
Land use zoning: Industrial use only
Site area: 59,442.01m2
Total floor area: 117,193.21m2
Structure: 5-story, reinforced concrete and partially
Equipment: Ramp on all the stories
Completion: July 2006
Expressway: Approx. 1km from Kashiwa IC of Joban Expressway
Train: 12 min. on foot from Kashiwa Tanaka
sta., Tsukuba Express
Panasonic Environmental Systems & Engineering Co.,Ltd.
The slide in Japan's average land prices slowed in the year
to July from a year earlier but the movement toward recovery is sluggish and
the nation's property market remains stagnant, according to the Japan land
annual survey showed that Japanese land prices were recovering somewhat after
the blow from the Lehman Brothers bankruptcy in September 2008, helped by a
moderate economic recovery and government subsidies for housing.
Japanese land prices fell 3.7 percent in the year to July 1, compared to the
4.4 percent decline recorded a year earlier.
residential prices posted a 3.4 percent annual fall, also moderating from a 4.0
percent drop a year earlier.
commercial land prices fell 4.6 percent in the year to July 1, after a 5.9
percent fall a year before.
Tokyo, Nagoya, Osaka
country's three biggest metropolitan areas -Tokyo, Nagoya and Osaka - land
prices slid 3.2 percent, falling for a second straight year but at a a slower
pace than the previous year's 6.1 percent.
residential land prices in the three urban centres slipped 2.9 percent, showing
signs of steadying after a 5.6 percent fall a year earlier, as prices in some
popular areas came down far enough to attract fresh demand.
commercial land prices in the big metropolitan areas fell 4.2 percent, compared
with an 8.2 percent annual drop a year before, buoyed in part by demand for
Average land prices
outside the three metropolitan centres fell 3.9 percent in the year to July 1,
little changed from the 3.8 percent decline posted a year before.
+ Mitsubishi Japan to develop 120,000 m2 commercial facility in Yokohama Japan - (21/09/2010)
Estate will launch the construction of a commercial facility in Minato Mirai 21
(MM21) area in YokohamaJapan in March
2011. The commercial property will have six floors above ground and four below
with 117,000 m2 of total floor space. The company is aiming for
completion in mid-February 2013 for opening in spring 2013.
The 2010 Japan Logistics event ‘LogisTech’ has
opened in Tokyo at the Tokyo international Exhibition Center. The event is Asia's
leading Material handling & logistics exhibition and is held every 2 years.
Global Logistics Properties Stand
A number of industrial real estate
companies that operate in Japan
are exhibiting including ProLogis, GLP
In addition to these logistics real estate
companies there were a various Japanese logistics equipment suppliers offering everything
from software to hardware solutions.
+ P&G invests in 106,000m2 Logistics Property in China - (16/09/2010)
P&G has built a new $130 million logistics
distribution center that will be P&Gs largest Asian distribution center, in
Guangzhou, China. The industrial real estate project reflects P & G's
commitment to increase investment in China.
The new distribution center in Guangzhou
will not only serve the Chinese market but also will serve P & G in
South-East Asia and Pacific Rim region.
The logistics property is 106,000 square
meters, with a total storage capacity of 138,000 pallets.
It features advanced information management systems, real-time stock control to improve supply chain reaction time.
Other features include improved storage efficiency of 30%, electric picking equipment that uses 48% less energy and a modern Logistics Control Center.
+ Taiwanese investor acquires Tokyo apartment block - (15/09/2010)
In further signs that foreign investors are returning to the Japan real estate market, a investor based in Taiwan purchased ‘Across Ginza’. The rental apartment building is located in Ginza a high end retail precinct in central Tokyo.
The purchase price was between 1.3 and 1.4 billion yen [$15 million and 16 million USD] and the cap rate was in excess of 6%.
+ YCH Supply Chain to develop USD 40 million Logistics Property in China - (15/09/2010)
Supply Chain Company YCH Group has started
development of a new industrial logistics property complex in Xiamen, China.
The new logistics park is known as the
“XPD-YCH DistriPark” is located in Xiamen,
China. As part
of a Joint Venture with the Xiamen Port Development (“XPD”) Co. Ltd, a 609,000
sq. feet state-of-the-art, two-storey ramp-up logistics facility being
developed to service the various manufacturers and suppliers located within and
Strategically located in the XiamenXiangyuBondedLogisticsPark next to the bustling
SeaPort of Xiamen, the USD 40 million project is estimated to be completed by the
end of 2011.
+ TNT China introduces electric delivery fleet - (09/09/2010)
leading global international express company, today unveiled the industry’s
first pure electric vehicle fleet in China.
further bolsters the company’s efforts to reduce carbon emissions in the
express industry and has received strong endorsement from the Shanghai government.
comprised of five vehicles, the electric vehicle fleet is produced by Dongfeng
Motor, one of China’s
leading automobile manufacturers. The vehicles are entirely locally sourced,
including design, manufacturing and assembly.
successful three-month trial operation, the fleet is now fully operational in Shanghai. Designed to
meet the distinct operational requirements of the express industry, these
zero-emissions vehicles are powered by lithium batteries and feature high-tech
monitoring systems that record power consumption data during operation,
allowing for continuous optimisation for delivery routes.
objective is to improve its CO2 efficiency by 45% by 2020.
+ Japan Logistics Fund, sales amount 5.6% up & operational profits 8.3％ up - (09/09/2010)
Japan Logistics Fund’s announcement on 7 September 2010, the business
performance (REIT) for the period from 1 February 2010 to 31 July 2010 is as
follows: 4,834,000,000 JPY of sales amount (year-to year +5.6%), 2,549,000,000
JPY of operating profits (+8.3％), 2,276,000,000 JPY
of current profit (+7.9%) and 2,725,000,000 JPY of profit of the term (+8.0%).
As results of Japan
Logistics Fund’s acquisition of Narashino Logistics Center II (7,875,000,000
JPY) and completion of a new warehouse building in the project to rebuild Daito
Logistics Center, Japan Logistics Fund invests in real estate of 27 properties etc.
in total (total amount of acquisition 125,825,000,000 JPY) and the total assets
is 127,652,000,000 JPY at the end of this term.
investment status for the period from 1 August 2010 to 31 January 2011 is as
follows: 5,382,000,000 JPY of sales amount (+11.3%), 2,888,000,000 JPY of
operating profits (+13.3％), 2,556,000,000 JPY of current profit (+12.3%)
and 2,555,000,000 JPY of profit of the term (+12.3%).
Forecast for the
period from 1 February 2011 to 31 July 2011 is as follows: 5,439,000,000 JPY of
sales amount (+1.1%), 2,794,000,000 JPY of operating profits (-3.3％), 2,488,000,000 JPY of current profit (-2.7%) and 2,487,000,000 JPY of
profit of the term (-2.7%).
+ Japan Logistics Real Estate best performer of J-REITS - (08/09/2010)
is a list of the best performing listed Japanese Real Estate entities (J-REITs)
over the past three years. Japan Logistics Real Estate was the best performing
property class highlighting its stability even through the financial crisis.
Investors seem to appreciate the stable cash flow benefits, long term leases
and structural drivers that keep logistics properties in demand in Japan.
the best performing real estate over the last three years to December 2009
+ Midsize Japanese Developers resume investment in Tokyo - (07/09/2010)
will resume buying land for development, as well as existing structures, after
having suspended such activities when the recession brought sales screeching to
in Chuo Ward marks just the beginning of Tosei's planned purchases.
the market is recovering, the midsize real estate firm plans by the end of next
year to acquire properties to be sold for an aggregate of 50 billion yen.
bought a condominium development site in Tokyo's
Chuo Ward and is also set to acquire a dozen parcels, including one in the
capital city's Mitaka, for condo development.
shopping list also includes office buildings, condos and commercial facilities,
mostly in greater Tokyo.
Up until now, the firm has upgraded purchased properties for resale to
businesses and investors. The company will focus initially on buying smaller
properties then perform major makeovers and sell them to homebuyers.
should accelerate state-backed construction projects that have already been started,
the country's powerful planning agency said in a statement on its website on
Development and Reform Commission said any investment projects forming part of
the government's 4 trillion yuan ($585 billion) stimulus package should be
launched before the autumn. The package, a two-year investment plan, was
announced in November 2008.
+ Bilateral trade between China & Japan - (06/09/2010)
statistics indicate that China
has edged past Japan to
become the world's second biggest economy, with the United States remaining the world's
biggest by far.
Japan's second-quarter unadjusted GDP totaled $1.2883
trillion on a nominal dollar basis, against China's second-quarter unadjusted
GDP of $1.3369 trillion.
The GDP of
Japan and China
combined account for about 17 percent of the world's total output.
trade rebounded in the first half of 2010 after slumping in the global
financial crisis. The two countries' bilateral trade reached 12.6 trillion yen
($149.2 billion) in value in the first half, a jump of 34.5 percent on the same
time last year, according to Japanese statistics. Two-way trade between China and Japan totaled 21.7 trillion yen in
China has been Japan's biggest trading partner
+ Japan Logifield Research Institute. Inc held a logistics property seminar - (06/09/2010)
Japan Logifield Research Institute Inc. (President : Mr.
Toshiaki Tsuji), who does consulting and business matching etc. for logistics
market, held a logistics property seminar for logistics operators.
The contents of
the seminar were, the actual status and possibilities on the strategy for international
shipping hubs in Japan presented
by Mr. Tsuji, the demand change in domestic Japanese logistic property market presented
by Orix Real Estate, and logistics developments in China.
The seminar was
hosted by Logistics Investment Department of Orix Real Estate Corporation and
the next one will be held in coming December 2010.
+ ECO-MAnufacture Japan 2010, Sep 15th-17th - (03/09/2010)
Tokyo Japan Exhibitor's Product and Technology Seminar
The Society of Chemical Engineers, Japan and Japan Management Association are proud to extend an invitation to "Exhibitor's Product and Technology Seminar" which will be held during ECO-MAnufacture 2010. These provide exhibitors with an expanded forum for presenting their latest products, technologies and services. The seminar will be a unique opportunity to convey the advantages of your company's offerings in detail and compound the effectiveness of your exhibition.
Exhibition: ECO-MAnufacture 2010
Date: September 15 (Wed.) ~ 17 (Fri.), 2010 10:00~17:00
LOGIS-TECH TOKYO 2010 key word focus will be on “Eco-Friendly” and “Global”!
Management Association and 6 related
organizations, will hold LOGIS-TECH
TOKYO 2010, at Tokyo Big Site, for 4 days, from Tuesday, September 14th, 2010.
It is the only trade show in Japan that focuses on logistics management and distribution systems, highly important for economic activities.
two years, LOGIS-TECH TOKYO 2010 has been held since 1994, and this year marks
the 9th anniversary
of the show. The main theme is, “Logistics innovation pioneers the future -
environmental harmony and
globalization-”, Variety of products and services related the theme will be
gathered at the show to support logistics
year features several lectures regarding
issues on Logistics in Asian countries including:
２．『Global Logistics Solution』
Eco-Friendly Truck Transportation』
４．Conference『Logistics in major Asian countries』
The show is the largest in Asia with, 400 companies and 1,800 booths. 125,000 professionals are expected to visit from a wide range of industries as well as management
executives mainly from manufactures
+ Tokyo Outer Ring road, to resume acquiring land between Nerima & Setagaya - (02/09/2010)
The Tokyo Outer Ring Road
project that had been effectively suspended last year in a regime change has once
again started to move with land acquisition in Tokyo.However, with a project cost ranging from
2.2 trillion yen the final outcome of the project is far from certain.
The outer ring road has a total
length of about 85 km and the new 16km section between Nerima and Setagaya in
western Tokyo is expected to reduce travel times to the Tomei Expressway. The
new section of road is also estimated to reduce carbon dioxide (CO2) by around 300,000
tons a year.
Summary of article that appeared in Nikkei
+ Dutch Pension Fund to increase real estate investment in Asia - (01/09/2010)
which manages about 250 billion euros for the largest Dutch pension fund, says
it plans to increase its real estate investment in Asia
by one billion euros in three to five years. The Netherlands-based pension fund
manager, which has four billion euros of real estate assets in the region,
plans to invest in residential properties in emerging markets such as China and India to profit from rising housing
demand. APG aims to increase its allocation in Asia
to 24% of assets, from 21% recently, in the next three to five years.
Currently, about 80% of APG’s real estate investment in Asia is allocated to
developed countries including Japan,
+ $1 Billion Japan Property Fund to be launched - (01/09/2010)
Investments plans to launch a USD300 to 500 million Japanese property fund this
year as it looks to expand in the country’s property sector. The Japan Business
Space Fund will own, with leverage, a portfolio worth USD1 to 1.5 billion of
business-related properties such as data centres, call centres, research and
development facilities and office buildings just outside of Central Tokyo and
the fringes of other big cities in Japan. Mapletree will take a 20% to
40% stake in the fund, which is expected to be launched by 4Q 2010.
+ French Bank to increase asian real estate finance - (01/09/2010)
Generale plans to more than double the amount it lends on property in Asia according to Bloomberg news. The French bank will
increase its property allocation to the Asia region
to 20% by 2012. Half of the increase will be in Japan where price declines have
made property an attractive investment. Asian economic growth outside Japan continued
to be strong which underpins a lot of real-estate activities. The bank also
said there was a concern in the region that if the market picked up there may
not be enough finance available to meet demand.
+ Japan Logistics fund allocates 7 billion yen to real estate trust beneficiary right - (31/08/2010)
Japan Logistics Fund has announced that it is borrowing seven billion yen to allot to acquisition capital and
related cost of the real estate trust beneficiary right (Ichikawa distribution
on August 30.
They borrowed three billion yen from Mizuho Corporate Bank (for a period one
year), two billion from Chuo Mitsui Trust (for a period one month), 2 billion yen
form Mitsubishi UFJ Trust (for a period one month).
The balance of
liabilities with interest before borrowing is 30.2 billion and after borrowing
would be 37.2 billion which indicates that the balance of liabilities with
interest will increase to 7 billion yen.
Corporate Bank (period one year)
of loan: JPY 3 billion
rate: one month JPY TIBOR+0.200%
of loan: September 2, 2010
deadline: August 31, 2011
of borrowing/repayment: Unsecured loan･unguaranteed / lump-sum
Mitsui trust Bank (period one month)
of loan: JPY 2 billion
rate: one month JPY TIBOR+0.200%
of loan: September 2, 2010
deadline: September 30, 2010
Method of borrowing/repayment: borrowing under commitment line
contract in August 2, 2010 Unsecured loan･unguaranteed / lump‐sum payment
UFJ trust Bank (period one month)
of loan: JPY 2 billion
rate: one month JPY TIBOR+0.200%
of loan: September 2, 2010
deadline: September 30, 2010
Method of borrowing/repayment: borrowing under commitment line
contract in August 2, 2010 Unsecured loan･unguaranteed / lump‐sum payment
+ Kawanishi Warehouse to sell Nagoya land - (31/08/2010)
On 30 August 2010,
Kawanishi Warehouse Co., Ltd. announced that it intends to sell 1,599.22 m2 of land at Irifune, Minato-ku, Nagoya. The carrying
value of the land is 1 million yen and currently leased as a pay parking lot).
+ Japan Logistics Fund: Ichikawa Logistics Center II - (30/08/2010)
Key Points of the Transaction
· Property name: Ichikawa Logistics
· Announcement/contract date: 12 August 2010/3 September 2010
· Buyer/Seller: Japan Logistics
Fund (JLF) J-REIT / ProLogis (Ichikawa II
· Interest acquired: 90% of Trust Beneficiary Interest (TBI)
· Acquisition price: JPY 17.415 bn. (90% of TBI)
· Reported NOI: JPY 978 mn. (90% of NOI)
· Reported NOI cap rate: 5.6%
* Key point 1: second transaction with ProLogis
since their pipeline support plan on 31 August 2009
* Key point 2: regarded as one of the best logistics facilities
in the Tokyo Metropolitan Area
* Key point 3: the best property in the JLF portfolio in terms
of value & quality (Casbee “A” rated)
High specification M/T
facility (Grade S)
5 (two spiral ramps
accessing all floors)
9 October 2009 (<1
100% (2 tenants)
Source: Japan Logistics Fund (J-REIT)
Ichikawa City, Takahama-machi 1
Adjacent to the
Chidori-cho IC on the Wangan Metropolitan Expressway
Prime (for Tokyo)
200% / 70%
TOMY Co. Ltd
10 year fixed-term
lease (until 1 November 2019)
JR East Logistics Co. Ltd
7 year fixed-term lease
(until 31 May 2017)
WALE (on area)
approx. 8.5 yrs.
TOMY Co. Ltd., a major toy manufacturer, uses the subject
property as its nationwide distribution centre, while JR East Logistics Co. Ltd
uses the subject property as a distribution centre for its convenience stores
in and around the major JR railway stations in the Tokyo metropolitan area. The subject
property, therefore, is functionally vital for the logistics needs of these
major Japanese firms.
JPY 18.3 bn. (100% of TBI)
Tanizawa Sogo Appraisal
31 May 2010
Discount rates (NCF)
5.0% (Yrs. 1~9) and 5.1%
Terminal cap rate (NCF)
Direct cap rate (NCF)
Cap rate analysis
· the Ichikawa
leasing market is a strong market with high demand from occupiers, and if space becomes available it is usually released quickly;
· according to broker opinion the current market rents (effective)
in this area for Grade A/S facilities like the subject property are about JPY 3,900
· based on the reported NOI of JPY 978 mn. for the JLF
interest, the current passing rent for the subject property equates to approximately
JPY 4,660 per Tsubo/month (assuming an OER of 15%);
· this rent is regarded as extremely high and is potentially
not the effective passing rent;
· the “true” NOI cap rate of this transaction is probably closer
to 5.0% assuming rents revert downwards to current market rents upon expiry of
the existing leases about 8.5 yrs. from now.
JLF’s NOI (90%)
JPY 978 mn. (as reported)
JLF’s acquisition price (90%)
JPY 17.415 bn. (as reported)
Implied NOI cap rate
5.6% [JPY 978 mn. / JPY 17.415 bn.]
Property NOI (100%)
JPY 1.086 bn. [JPY 978 mn. / 90%]
Gross passing rent (15% OER)
JPY 1.250 bn. [JPY 1.086 bn. x 1.15]
Passing rental rate
JPY 4,660 per Tsubo/month [1.250 bn./12/22,350 Tsubo]
Gross market rent
JPY 1.046 bn. (at JPY 3,900 per
Property NOI at market
JPY 910 mn. [JPY 1.046 bn. / 1.15]
JLF’s NOI (90%) at market
JPY 819 mn. [JPY 910 mn. x 90%]
Implied NOI cap rate at
4.7% [JPY 819 mn. / JPY 17.415 bn.]
True NOI cap rat
5.0% (assuming reversion to market rents in 8.5 yrs.)
Supporting this opinion, the independent appraiser that
valued the subject property on 31 May 2010 applied a 5.0% NCF cap rate, which
is approximately equivalent to a 5.1% NOI cap rate. Furthermore, this analysis does
not account for any potential related party discounts between ProLogis and JLF
which could imply that the open market price is even higher than what JLF has
paid for it.
According to a source close to the subject property, this
property would have been valued at about a 4.50 ~ 4.75% NOI cap rate at the top
of the market in late 2007. Therefore, based on this prime Tokyo
logistics transaction, the prime Tokyo
logistics NOI cap rate has decompressed by less than 50 basis points since late
The JLF Narashino II transaction in February 2010 demonstrated
that the prime Tokyo
logistics NOI cap rate has decompressed by no more than about 50 basis points
since late 2007. Although the quality of the JLF Narashino II property and the
subject property are very similar compared to the rest of the JLF portfolio,
the subject property would be regarded as more attractive to an investor due to
its location, age & construction quality; tenant covenant strength, and
This transaction demonstrates that the prime Tokyo logistics cap rate
currently stands at around 5.0% NOI and has compressed slightly since February.
Commentary: courtesy of Pelham Higgins SCA Japan Representative.
+ Singapore warehouse and logistics facility sold to Industrial REIT - (27/08/2010)
Singapore's AIMS AMP Capital Industrial
REIT plans to buy a Singapore industrial property, which includes a warehouse
and logistics facility for S$161 million ($118.8 million).
The property has an initial net property
income yield of 7.7 percent and AIMS AMP Capital will finance the acquisition
from debt and equity.
AIMS AMP was formerly known as
MacarthurCook Industrial REIT.
* 5-storey ramp-up warehouse and logistic complex with a 9-storey
annexed office block Strategically situated within the Jurong Industrial Estate, one of
the largest and most established industrial estates in Singapore
* Close proximity to Jurong Port, PSA Singapore Terminals, Jurong
Island, complementary industrial facilities such as container yards, and the
central business district of Singapore
* Serviced by two major expressways – Pan Island Expressway and the
Ayer RajahExpressway, and
accessible by public transportation via Jurong East Mass Rapid Transit Station
* Master lease to C&P Holdings with underlying end users including
global logistics service providers such as DHL, CEVA, Kuehne + Nagel, Geodis
and Yamato Transport
+ LaSalle Investment acquires Japanese Outlet Mall - (23/08/2010)
LaSalle Investment Management Inc. a leading
real estate investment advisor announced the purchase of "Nasu Garden
Outlet" located in Tochigi, north of Tokyo.
Investment Management acquired Nasu Garden Outlet, an outlet mall in Nasu-ShiobaraCity,
TochigiPrefecture through its
special purpose company, this is the LaSalle’s second investment in an outlet
mall in Japan, following
Chitose Outlet Mall Rera, which the company developed in Hokkaido.
Property Name: Nasu Garden Outlet
Opened: July 2007
Location : Shiobara City, Tochigi
Site area: 193,070m2
Total floor area: 33, 117 m2
Retail Store area: 21, 306 m2
Number of stores:110
Parking: approx. 3,000 cars, buses 20
The facility features a resort-type
facility Outlet featuring Ladies, Mens, Kids, sports, outdoor goods, fashion
goods, household goods, hobby goods and food .
rain in mid-July has caused water-covered rail tracks and landslides in Hiroshima and Yamaguchi, and
soil loss the northern part of Tohoku region. As a result at total of 270 of high-speed
freight trains and specialized freight ones were cancelled.
Regarding Japan freight movement, a recovery of corporate activity
due to domestic and international demand increases and a record spell of hot weather in July in eastern Japan increased demand of seasonal products such as refreshing beverages and
home electric appliances. Despite being influenced by natural disaster, as a
whole, the month of July has grown over the previous year.
Regarding container cargo, although consolidated cargo was strongly influenced
by the natural disaster falling below that of the previous year, automobile parts,
pulp and paper have risen over the previous year, growing 104.5%
over last year. The transportation of automobile parts has sharply increased because
of the rebound of adjusted production from last year. Home
electronic appliances like air conditioners etc has been strong due to extreme heat. As for agricultural
products, fruits and vegetables rose over the previous year for the first
time since October 2008 due to the shipment of government-controlled rice.
Regarding reserved freight cars, cement and limestone fell below the
previous year and as a whole, 95.7% over last year.
+ Sagawa Global Logistics signs lease on Yokohama industrial property - (12/08/2010)
Sagawa Global Logistics Co., Ltd. signed a lease contract for Yokohama
Logistic Park (YLP) located at Daikoku-cho, Tsurumi-ku, Yokohama. Sagawa Global Logistics Co., Ltd. is
going to move into the whole 6th floor of YLP, approximately 13,500m2
(approximately 4,100 tsubo).
Sagawa Global Logistics Co., Ltd. will be the first tenant for YLP after
the completion in April 2009. In the future, Sagawa Global Logistics Co., Ltd. is welcomed to lease the other area of this
facility. As well, the 1st to 5th and 7th floor
are still available for leasing.
+ Japanese machinery orders slow as economy cools - (11/08/2010)
machinery orders rose less than forecast in June, a sign that companies may be
holding off on spending as the nation’s export-led recovery cools.
indicator of business investment in three to six months, gained 1.6 percent
from May when they dropped 9.1 percent, the biggest decline since August 2008,
the Cabinet Office said today in Tokyo.
The median forecast of 25 economists was for a 5.4 percent gain.
exporters from Toyota Motor Corp. to Nissan Motor Co. are under threat from the
rising yen, which is approaching a 15-year high against the dollar just as
global demand starts to cool. Bank of Japan Governor Masaaki Shirakawa
said yesterday that while companies have been coping with the yen’s advance,
the central bank is aware of the risk it poses to the nation’s recovery.
could slow in the third quarter,” said Naoki Tsuchiyama, a market economist at
Mizuho Securities Co. in Tokyo.
“We need to be cautious as Asian demand, which drove Japan’s recovery since April 2009,
is clearly slowing.”
in China and the U.S., Japan’s
biggest markets, may be a drag on Japan’s export-led recovery. The
world’s second-largest economy probably expanded at annualized 2.3 percent in
the three months ended June 30, slowing from a 5 percent expansion in the first
quarter, according to the median forecast of 18 economists surveyed by
The strong yen
also may derail the recovery in corporate earnings. Companies are becoming
cautions about increasing output amid growing uncertainty over the economic
outlook in the U.S. and Europe.
Office today forecast orders will increase 0.8 percent in the three months
ending Sept. 30 after they rose 0.3 percent in the second quarter.
+ Japan plans to invest to strengthen key ports - (11/08/2010)
ministry has chosen ports in two regions to promote as international shipping
hubs through concentrated investment, but the sites face rough waters in the
race to catch up with huge Asian rivals.
An expert panel
of the ministry chose the Keihin region (Tokyo, Yokohama and Kawasaki
ports) and the Hanshin region (Kobe and Osaka ports) as key
strategic container ports.
minister Seiji Maehara said Friday the government will focus funding and
deregulation efforts to strengthen the capabilities of the two regions so Japan can
return to "the status of a maritime nation."
The goal is to
boost freight-handling volumes to grab top posts in the world from
fast-growing, low-cost Asian rival ports, such as Busan and Singapore.
proposals from four regions, the expert panel gave 769 points out of the full
1,000 to Hanshin and 729 to Keihin.
regions--Isewan (Nagoya port and Yokkaichi port in MiePrefecture) and northern Kyushu (Hakata
and Kita-Kyushu ports in FukuokaPrefecture)--failed with
553 and 277 points, respectively.
For Keihin and
Hanshin, the government will increase the state share of funding for port
facilities improvement projects to deal with large cargo vessels.
It also plans
to reduce fixed asset taxes for the two hubs alone after their port operators
A bill to
revise the Ports and Harbors Law to expand interest-free lending to port
operators will also be introduced to the Diet next year.
But the ports'
future is not rosy. Maehara admitted earlier that Japanese ports are "two
laps behind" their overseas rivals.
region proposed improving inland container depots and support for container
ship construction, which it said would help the ports regain most of the
freight now flowing out of western Japan to Busan.
But it has yet
to find funding for those programs.
The region also
proposed privatizing the operators of Kobe and Osaka ports and integrating them, but no specifics have
been set on how to merge operations of the export-oriented Kobe
and import-heavy Osaka.
region also plans to privatize the Yokohama Port Public Corp. and integrate it
with the already privatized Tokyo Port Terminal Corp.
While it says
unified operations and use of private-sector capital will help cut terminal
rent fees by 40 percent, other major plans, such as a new Yokohama pier under construction, largely
count on state funding.
ranked high globally until the 1980s, but by 2009, even Tokyo
port had fallen to 26th, with freight volume only one-seventh of the
+ Sankyu, to open a new logistics center in Osaka Nanko - (10/08/2010)
Due to the acquisition of 3PL business and
expansion of cargo volume in Kansai region, Sankyu Inc. is to open a “Nanko
Naka DC” a new industrial warehouse property in Osaka Nanko in September.
This center is a leased facility which was
constructed by AMB Property Japan, Inc. Together with “Nanko Logistics center”
(24,670 m2) and ”General Distribution Center” (8,904 m2) located in the same
area, it will be a base of Sankyu’s 3PL business in Kansai region, as well as
an important base of international 3PL centering on China and Southeast Asia. It
will continue to provide the most appropriate logistics service meeting the
customers’ needs, not only domestically, but also internationally.
+ China’s Urbanization expected to fuel economy - (09/08/2010)
Accelerated urbanization can keep the country's economy on the fast track for
another 15 to 20 years, as more than half of its population will live in cities
and towns by 2015, a top Chinese think tank said on Thursday.
The country's urbanization rate will
hit 52 percent in 2015 and grow to 65 percent by 2030, the annual report on
urban development by the ChineseAcademy of Social
Sciences (CASS) showed.
By the end of last year, the
urbanization rate already hit 46.6 percent, with 620 million people living in
cities and towns, the CASS reported.
"The growth potential of the
vast middle and western regions, together with the rapid development of small
cities and towns, could keep the economy on the fast track for at least 15 to
20 years," Wei Houkai, director of the center for China's regional
development at the CASS, told China Daily.
The urbanization rate during the
country's 12th Five-Year Plan period (2011-2015) will grow by 0.8 to 1.0
percent each year, the academy reported.
That means more than 10 million rural
residents will move to cities and towns annually - a process that is expected
to contribute 4 percentage points to the country's GDP growth each year.
Lu Jing, vice-president of Hong
Kong-listed R&F Properties, said at a recent forum that he was quite
optimistic about the long-term prospect of China's real estate industry,
despite short-term adjustment because of recent tightening policies.
Last year, the disposable income of
the urban population stood at 17,175 yuan per capita, but the net income of the
rural population was 5,153 yuan per person.
Li Bingren, chief economist of the
Ministry of Housing and Urban-Rural Development, said earlier that he expects China's urban
infrastructure fixed-asset investment to top 1 trillion yuan ($146 billion) in
The country's rapid urbanization will
result in the accelerated construction of urban public facilities, involving a
total investment of up to 7 trillion yuan during the 12th Five-Year Plan period,
But imbalances in the process mean
that the quality of the urbanization may be affected.
More attention will be given to the
improvement of migrant workers' living standards, construction of
environmentally friendly cities and building of city clusters in the next
five-year plan, the CASS reported.
+ China widens property stress tests - (09/08/2010)
Chinese regulators have demanded stress
tests on a wide range of industries, including cement and steel, whose fortunes
are closely tied to the property market, according to Shanghai Securities News.
It did not provide any details about the
tests, but said they were part of a broader investigation into the economy's
ability to withstand falls in property prices. China's banking regulator has
ordered lenders to test the impact of an up to 50 per cent fall in house prices
in key cities where prices have risen sharply, banking and regulatory sources
said on Thursday.
+ Japan’s Current Account Surplus Falls 18.2% in June - (09/08/2010)
TOKYO - Japan's
current account surplus fell 18.2% from a year earlier in June, the Ministry of
Finance said Monday, as a higher trade balance could not offset a lower income
The surplus in the current account, the
broadest measure of Japan's
trade with the rest of the world, stood at Y1.047 trillion in June before
seasonal adjustment, finance ministry data showed.
The result was worse than the median
forecast for a 1.5% increase in the surplus to Y1.299 trillion in a survey of
economists by Dow Jones Newswires and the Nikkei. In May, the surplus fell 8.1%
to Y1.205 trillion.
exports rose by 29.2% from a year earlier in June, while imports gained by
29.6%, the data showed.
The current account measures trade in
goods, services, tourism and investment. It is calculated by determining the
difference between Japan's
income from foreign sources against payments on foreign obligations and
excludes net capital investment.
+ Green Oak to target Japan distressed property - (06/08/2010)
Three of the world's most accomplished real
estate bankers have set up Green Oak Real Estate ahead of an expected surge in
distressed loan disposals, asset firesales and mortgage-backed security (MBS)
workouts in its core target markets of Europe, Japan and the United States.
GreenOak has secured $110 million of seed
capital, comprising a $10 million working capital loan and a $100 million
co-investment commitment from Amsterdam-listed investment company Tetragon
Financial Group Limited (TFG.AS), the closed-ended investor said in a statement
GreenOak is initially likely to focus on
securing advisory mandates in complex property restructuring cases across
Europe and make an immediate play for distressed physical real estate and
mortgage buys in Japan
as a principal investor, market sources said.
+ New industrial property to be developed in northern Japan - (05/08/2010)
ProLogis an industrial real estate developer
announced a new build-to suit distribution facility in Miyagi Prefecture Japan.
The property will be known as "Tomiya ProLogis II". Miyagi co-operative
will use of the facility when completed.
"ProLogis Tomiya II" is located
in Tomiya-cho, Kurokawa-gun, Miyagi Prefecture, adjacent to Sendai. The
industrial property is located about 1km from the Expressway interchange making
it a convenient location for transportation logistics. After its completion in
May 2011 the new facility will act as a base for delivery to six northeastern areas
High efficiency - Equipped with a highly
efficient temperature control system and centralized management system for a
thorough quality control.
Environmentally friendly warehouse - Connection
for electric vehicles, regenerative cooling, desiccant air conditioning, LED lighting,
power standby and demand control.
Ensuring safety - Separating vehicles and
trucks to ensure a safe movement, parking control, installation of security systems
Barrier-free - Improved environment for
+ India freight rail gets loan from Japan - (03/08/2010)
received assistance from the Japan International Cooperation Agency, who signed
a loan worth US$18.5 million to help develop the country's freight rail
It is the largest amount of ODA loan ever allocated
by Japan to a single
project, and will help build 552km of rail tracks for freight traffic in the
country between Delhi
The freight railway line will include
automated signals and full communication systems. The loan will also fund high-speed
trains for freight transportation and an initial review of the basic
infrastructure design and tender preparation process.
This cooperative implementation by Japan and India will hopefully be a new
symbol of partnership between the two countries.
+ China overtakes Japan to be to become the world's second-largest economy - (03/08/2010)
China has overtaken Japan
to become the world's second-largest economy after the United States,
the country's chief currency regulator said in remarks published on Friday.
The economy expanded 11.1 per cent in the
first half of 2010, compared with a year earlier, and is likely to log growth
of more than 9 per cent for the whole year, according to Yi Gang, head of the
State Administration of Foreign Exchange.
"China, in fact, is now already the
world's second-largest economy," he said in an interview posted on his
agency's website, www.safe.gov.cn.
Yi said China's growth rate, which has
averaged more than 9.5 per cent a year over the past 30 years, was bound to
slow over time. If China
could chalk up growth this decade of 7-8 per cent annually, that would still be
a strong performance.
The issue was whether fast growth can be
sustained, he said.
If China expands by 5-6 per cent a
year in the 2020s, it will have maintained rapid growth for 50 years, which Yi
said would be unprecedented in human history.
He said expectations of a stronger yuan,
also known as the renminbi, had diminished. There was no basis for a sharp rise
in the exchange rate, partly because the price level in China had risen
steadily over the past decade.
Yi's remarks carried an echo of a report by
the International Monetary Fund which said the Chinese authorities viewed the
yuan right now as closer than ever to equilibrium.
Japan's unemployment rate rose to 5.3 per cent in June,
rising by 0.1 percentage points from the previous month, government data showed
The rate was
higher than market expectations of 5.1 per cent, in an indication of the
headwinds that Japan's
fragile economic recovery faces.
core consumer price index fell 1.0 per cent in June from a year earlier,
marking the 16th straight month of decline.
The drop in
core prices, which exclude volatile fresh food prices, was slightly smaller
than market expectations of a 1.1 per cent decline as deflation continues to
drag on recovery in the world's second-largest economy.
affairs ministry also released June household spending data, showing average
household spending in June was 0.5 per cent higher on-year and 2.9 per cent
higher than the May.
+ Orix REIT acquires Tokyo building for Y6.3bn - (02/08/2010)
Orix JREIT acquired the OrixMeguroBuilding in Meguro, Meguro-ku, Tokyo for 6.35 billion yen [$70 million]. The
seller was A.T.S.YK, which was financed by Orix Real Estate.
The building has ten stories above ground and one below with 11,119 m2 of total
floor space and 6,119 m2 of rentable floor space.
+ China Investment Corp increases net profit to $41.66 billion - (30/07/2010)
China Investment Corp, China’s the
country's $300 billion sovereign wealth fund, increased its net profit last
year to $41.66 billion from $23.1 billion in 2008.
CIC, founded in late 2007, made a positive
return on its overseas investments last year of 11.7 percent. The fund made new
overseas investments last year of $58 billion.
If the domestic portfolio of State-owned
financial institutions is also taken into consideration, the fund has made a
return on registered capital of 12.9 percent, it said.
The fund accelerated its investment activities since May 2009 as the
global economy began to show signs of recovery. That compares to its strategy
in 2008, when the fund kept the bulk of its assets in cash to limit losses amid
the worsening global financial crisis.
+ Japan’s Exports continue to recover - (28/07/2010)
Japan has seen sustained growth in
shipments in June despite a rising yen.
Japan's exports rose for the seventh
straight month due to machinery and steel products, climbing 27.7% from a year
earlier to US$67.2 billion. The country had depended on Asia for recovery,
The demand for iron and steel products grew
by more than 46% in the month, while machinery exports soared 50%. Meanwhile,
motor vehicle shipments rose by 40%, AP reported.
Imports in the month also rose 26.1% to
US$59.3 billion, leading to a trade surplus of US$7.9 billion.
However, economists are expecting exports
to slow in the coming months as governments across the world start focusing on
controlling spend and debt.
+ Tokyo Tatemono starts construction of project in Nakano, Tokyo - (27/07/2010)
In June 2010, five
companies started construction on the former site of the NakanoNationalPoliceAcademy.
The five companies are Tokyo Tatemono, Kajima, Shoei, Nippon Tochi-Tatemono and
Toda, which jointly acquired the land for 143.7 billion yen [$1.6 billion] in
+ Kerry Logistics to build 3 warehouses - (23/07/2010)
China - Kerry
Logistics has planned to build three more facilities in Mainland China
by 2011 as part of its plans to strengthen its fashion logistics network in the
facilities will be built in Shanghai, Chongqing and Kunshan.
market share of foreign retail brands in China
will increase from 20% to 40% in 2014, says Global Insight, a US provider of
economic and financial intelligence.
Logistics is currently managing over 40 fashion and retail companies, most of
which are international brand leaders.
"We also offer a wide range of value-added services to our
clients to meet the specific requirement of the Mainland China market, from
Garment-On-Hanger, Chinese information tagging and Chinese care labelling to
pre-retail preparation, quality control and store stock taking," says
Kevin Lam, director of key account and assistant regional director of sales in
Mainland China for Kerry Logistics.
+ Foreign Investors focus on China’s real estate - (22/07/2010)
China's property market has seen
soaring investment from foreign institutional investors, driven by strong
expectations of renminbi appreciation this year.
According to CB Richard Ellis,
the value of property transactions in 15 Chinese cities has hit 49.9 billion
yuan ($7.36 billion) in the first-half of this year, among which 19.4 billion
yuan came from foreign institutional investors, 10.2 billion yuan from Hong
Kong, Taiwan and Macao, and the remaining 20.3 billion yuan from mainland
"Affected by the financial
crisis, foreign investors were inactive last year and domestic investors
dominated the market. But due to better liquidity and expectations of renminbi
appreciation, the situation is just the opposite this year," said Danny
Ma, senior director of CB Richard Ellis Research China.
Industry experts say the
renminbi will probably appreciated 3 percent this year.
LaSalle Investment Management, a
real estate fund, for instance, has been actively seeking opportunities in
China, particularly in second-tier cities. Though the fund raised $2 billion
last year, it made no investments at all in 2009. But top management said that
they will definitely reach a deal in China this year.
"We are now in talks with
several projects in the commercial and industrial sectors," Eric Au, China
director of LaSalle told China Daily on Thursday.
Savills Beijing said their
foreign clients have shown much stronger interest in investing in China's
properties, mainly in the office and retail sector.
+ Senko Co,. Ltd completes new warehouse, Kanazawa PD Center - (21/07/2010)
service in Hokuriku district is expanded in productivity. Senko Co., Ltd
established Kanazawa PD Center and started to operate in July 13. Senko in Kanazawa used to operate industrial warehouses at 7
places in Kanazawa and
Nonoichi city. Because of the decay in the buildings, need in the hub to
reorganize and industrial expansion, 3 of the warehouses were combined to build
the new warehouse.
in Kanazawa was
mainly working for Kawakami Butsuryou, dealing with textile and food
industry; however, by taking this opportunity they intend to enlarge more in
distribution vender (manufacture and wholesale) and the number
of customer in merchandise. Moreover, by taking advantage of the good
location to access to Kanazazwa, Komatsu, and Shiroyama city, Senko plan to set
up the delivery net work in order to provide high quality delivery service.
S(SRC for 4 floors), fire-resistant building
Total floor space: 15，385m2(
Warehouse12,859m2、truck yard1,799 m2、office
and etc 727 m2）
Starting date: July 13, 2010
Facilities: 2 vertical goods elevator, 1
goods elevator (floor loading 3.5ｔ),
2 dock leveler
+ Kuehne + Nagel Group turnover increases 15.9% - (20/07/2010)
During the first half of 2010, the Kuehne +
Nagel Group’s volume development exceeded the market average in all business
units, with accelerated growth in the second quarter. Compared with the
previous year’s period, turnover increased by 15.9 per cent to CHF 9,849
million. The operational result (EBITDA) grew by 1.9 per cent to CHF 475
million while net earnings improved by 8.9 per cent to CHF 281 million.
+ Large Tokyo Industrial Property 85% leased - (15/07/2010)
LaSalle Investment Management
announced that the occupancy rate of Logi Port Nagareyama exceeded 85%. The
company signed new lease agreements for 10,000 tsubo [33,000 m2] in
total with logistics and other companies between April and June 2010 for the
logistics facility. The remaining 5,600 tsubo [18,000 m2] of space
is currently being advertised for tenant companies.
+ DHL launches new LCL Service from India to Los Angeles - (14/07/2010)
DHL has announced the launch of its new direct
Less than Container Load (LCL) service from Nhava Sheva,
India to Los Angeles, USA.
Operated by Danmar Lines, DHL's in-house carrier, the new service will
facilitate trade between India
and the USA
and offers customers services with a reduced transit time of 26 days between
the two ports.
"The US is India's 2nd
largest export partner and 3rd largest import partner. The launch of this
direct LCL route connecting Nhava Sheva to Los Angeles will further facilitate foreign
trade between the two countries and support the growing needs of small and
medium enterprises. This service will enhance the strong global connectivity
offered by DHL's extensive LCL network and will help customers expand and
strengthen their supply chain in the India-USA trade lane," said Amadou
Diallo, Chief Executive Officer, South Asia Pacific, DHL Global Forwarding.
Christoph Remund, Chief Executive Officer, DHL Lemuir Logistics Pvt.
Ltd., added, "The launch of DHL's new LCL service from Nhava Sheva to Los
Angeles is strategically planned in time to meet the growth of foreign trade
amidst the global economic recovery. DHL dedicates substantial resources
to continue developing and maintaining highly effective services that include
traditional LCL services and multi-vendor buyers' consolidations for shipments
sourced from single and multiple countries," he added.
"DHL recently launched an LCL consolidation weekly service
from Cochin to Colombo, and with the introduction of this
new service, we have further strengthened our network and ocean freight service
offerings to support the needs of our customers. To offer cost-effective
and innovative solutions to customers, we are constantly looking for
opportunities to extend our LCL service offerings while contributing to the
thriving Indian economy," said Sanjay Tejwani, Director – Oceanfreight,
DHL Global Forwarding India.
+ APL Logistics, Sumitomo Warehouse Co., form alliance - (12/07/2010)
APL Logistics today
announced a strategic alliance with Japan’s Sumitomo Warehouse Co. to
jointly market global supply chain services.
Under the agreement,
Osaka-based Sumitomo will offer its warehousing and other logistics
capabilities in Japan
to APL Logistics customers. APL Logistics, part of Singapore’s NOL Group, will make
its global services available to Sumitomo customers. The alliance partners
said they’ll jointly market services and offer preferential rates to clients.
“We’re delighted with
this alliance because it dramatically strengthens the capabilities of both
organizations,” said Jim McAdam, President of APL Logistics. “What’s more, it
permits us to support each other through business leads and joint sales efforts
with a broad international client base.”
The alliance brings
together two top names in supply chain management. APL Logistics provides
origin, destination and transport services to multinational clients in major
world markets. Century-old Sumitomo provides a range of supply chain services
emphasizing integrated distribution.
+ DHL Global Forwarding and Freight to have multi-modal solutions in China - (08/07/2010)
DHL Global Forwarding
and Freight to have multi-modal solutions in China
DHL's Global Forwarding
and Freight division has decided to roll out a suite of solutions which will
combine air, road, rail and sea transportation to move cargo from China
to the rest of the world.
Through this, it will
help ease the capacity shortage for air and ocean freight from China. It will
also help companies to significantly reduce transport costs by 20-50% and
carbon emissions by up to 89%.
Hermann Ude, CEO of DHL
Global Forwarding and Freight says multi-modal solutions will shape the future
of logistics as companies look for ways to reduce their carbon footprint and
investments in infrastructural development - road, rail and world-class international
flight connectivity - have opened up new possibilities for scheduled, reliable
and flexible door-to-door services through the combined use of different
transport modes," he adds.
+ Distribution facilities in the Tokyo Bay area three properties acquired - (07/07/2010)
is the world's leading real estate investment advisorInvestmentManagement,
Illinois, Chief Executive Officer: Jeff Jacobson, the "LaSalle") today announced
the composition of the La Salle SPC TMK Beipuropati Tokyo , the Tokyo Bay area
distribution facilitythree properties
acquired and released.
positioned real estate assets with stable income distribution,2001since,
actively investing in logistics facilities has.So far the country of 35distribution
facilities in the property investment experience,we have been contributing to
the management efficiency of domestic enterprises due to off-balance.Demand for
efficient logistics facilities in large underlying strength to continue, and a
growing willingness to invest in Japanese real estate investors abroad
the operation of the future,one and a half years approximately1,000-1500we plan
to invest 100 million yen.
Co. Executive Officer (Logistics Division), Yoshikawa,Yosuke, "The logistics of
this facility three properties but was introduced as a first sale of
nonperforming loans on collateral,location, tenants, building design and
scrutinized results, judged sufficient to meet our investment criteria, led to
obtain.ability to leverage and asset management expertise that we have detailed
the distribution facilities, this3-up value of the property value We will.in the
future has been secured for a variety of domestic bad loans will continue to
actively promote the acquisition, including the foundation for the development
of high quality logistics facilities, "he says.
+ DHL and National University of Singapore launch sustainable Supply Chain Centre - (06/07/2010)
DHL and The Logistics Institute - Asia
Pacific (TLI – Asia Pacific) of the National University of Singapore
(NUS), have announced the establishment of the S$3 million Sustainable
Supply Chain Centre of Asia Pacific (SSCCAP).
The Centre will create practical business tools for the industry to
establish benchmarks in areas of sustainable logistics solutions, involving
research and education.
Paul Graham, CEO, DHL Supply ChainAsia Pacific,
commented: "Given the projections for supply chain logistics growth in the
region, there is a need for an Asian focus on sustainability. As a leading
logistics company, DHL sets industry standards with its Group-wide GoGreen climate
protection program, which aims to improve the company's carbon
efficiency. Through high-level research, surveys, conferences and forums,
the Centre will create new tools, best practices and know-how that will put the
region at the leading edge of innovative sustainability practices."
Opening in July 2010, the SSCCAP will be hosted at TLI – Asia Pacific
at the National University of Singapore. TLI – Asia Pacific has a strong
reputation in the industry and has established solid industry and customer
links. Partnering the Georgia Institute of Technology in the US, TLI – Asia
Pacific already offers a Logistics Double Masters and Masters in Supply Chain
+ Real estate trust balance drops by Y600billion - (05/07/2010)
total value of real estate securitized through trust bank accounts was 25.8
trillion yen [$280 billion] as of March 2010. This
fact was contained in the "Entrustment Overview" announced by the
Trust Companies Association of Japan. The
balance decreased by 600 billion yen [$6.6 billion] compared with one year ago.
The real estate trust balance has been decreasing since the survey conducted in
+ Number of real estate investment trusts (REITs) in Asia expected to expand - (02/07/2010)
HSBC expects the number of real estate investment trusts (REITs) in Asia to surge over the next 3 to 4 years due to demand for more risk-averse property investments.
Asia is seeing increased activity in the REIT IPO market this year, with the successful listing of Cache Logistics Trust (CALT.SI) in Singapore, while Sunway City (SWCB.KL) plans to list its REIT in Malaysia in July.
"I see proliferation of REITs, absolutely. I think we'll have twice as many REITs in Asia as we do today in the next three or four years," according to Jason Kern, at HSBC.
Kern expects Singapore to see the most activity, with around 20 more likely to be listed there in the next 3-4 years from companies all around Asia. Singapore has more than 20 listed REITs.
Australia could see a few more, while Malaysia is showing signs of growth, he added.
REITs invest in mainly commercial property and pay rent collected from their properties to shareholders as dividend and hence, some investors see them as safer investments than property stocks.
REITs also usually offer returns that are higher than yields of government bonds.
CHINA & INDIA
In terms of opportunities in Asia, Kern said emerging markets, such as China and India offered huge potential. However Kerns comments that China has been a frustrating market for people to invest in just because it is more opaque. There are much bigger hurdles in terms of tax, friction, in terms of getting capital in and out of the country.
He also noted that the capital going into India has dried up quite a bit for the moment but it will come back when the overall market improves.
As for Japan, currently Asia's largest real estate sector and the world's second-biggest economy, it is a different story with tens of billions of dollars worth of maturing debt coming up in the next year or so.
"For those there salivating over the potential distressed opportunities, it's been less than people expected," Kern said. "The firesales haven't really happened to a large extent."
+ ULI Japan's Young Leaders Event in Roppongi on Thursday, July 22, 2010 - (27/06/2010)
Amid the stabilizing financial market and growing
confidence for economic recuperation, the ULI Japan Young Leaders Group would like to invite you to a
speaker event featuring Andy Hurfurt,
Executive Director – CBRE Consulting, who will share his views on the latest
real estate market conditions.
Date: Thursday, July 22,
Place: Roti Roppongi –
American Wine Bar and Brasserie
(Piramide Building 1F, 6-6-9 Roppongi,
Minato-ku – 03-5785-3671)
19:30-20:15Course dinner with 2.5 hours “nomihodai”
+ Japanese Logistics Market by the end of Q1 2010 - (21/06/2010)
economies in the Asia Pacific region continued their growth trends over the
second half of 2009, with some nations seeing acceleration in economic
expansion. Only Japan’s
outlook remains relatively fragile compared with the rest of the region. While
the Japanese economy had experienced three consecutive quarters of GDP growth
by the end of 2009, this comes after some major declines in late 2008 and
beginning of 2009.
exports increased by 5.0% from Q3 2009, and the unemployment rate dropped to
4.9% by the end of the year. In February 2010, exports grew at the fastest pace
in about three decades and have improved noticeably in comparison to a year
ago. However, they are still some 25% lower than their 2008 level. Growing
demand in China and
elsewhere in Asia is helping Japanese
companies, and this might minimize an economic slowdown in the coming months as
government stimulus measures fade.
generally expect that the Japanese economy will continue on its gradual
upswing, despite a moderate dip forecast for Q1 2010. With rising exports to China
continuing to drive growth in Japanese industrial production, the Government
has lifted its view on the nation’s economy.
Source: Ministry of Economy, Trade and Industry
strengthening of the yen has fuelled concerns for the export reliant Japanese
economy. However, with Beijing expected to let its currency appreciate, this
could benefit the Japanese economy going forward as a stronger Yuan will make
foreign goods more affordable in China. Japan
is China’s top source of
imports, with China
importing some US$131 billion worth of Japanese goods in 2009.
Japanese real estate market
growing signs that the real estate market of the Asia Pacific have bottomed. Japan remains
the region’s largest investment market, accounting for almost 40% of total
investment volumes in 2009. From Q4 2009 sentiment began to improve noticeably
in the Japanese real estate investment market. This increased into 2010 amid a
brisk flow of small and medium sized transactions. However, investor attention
is focused primarily on prime office and retail assets.
struggling since early 2008, the J-REIT market started to show signs of
recovery in the second half of 2009. This was due mainly to support from the
Kanmin fund, a Public-Private Real Estate Market Stabilization Fund with total
capital expected to reach JPY 450-500 billion. The Fund has been welcomed by
the market as it has alleviated refinancing concerns for some J-REITs.
Continued government support, mergers and new sponsors are all expected to help
prevent a J-REIT sell-off and further deteriorations in asset values.
Logistics real estate sector
high quality, large scale logistics facilities remains strong in Tokyo. According to CB
Richard Ellis the average vacancy rate for large scale multi-tenant logistics
facilities declined to 14.2% at the end of 2009. Likewise, vacancy rates for
facilities one year and older decreased to 6.8%, which marked the second
consecutive quarterly decline in Tokyo.
This suggests that demand for high quality logistics space is starting to
increase in the nation’s capital, driven mainly by virtually no new supply of
modern warehouse space since the GFC.
Source: CB Richard Ellis
vacancy rates are unlikely to increase further in the short-term with no
significant new supply planned in the near future. Average asking rents in the
Greater Tokyo area have not shown any sign of recovery since declining in
mid-2008. Nevertheless, demand still exists for large scale facilities from
companies planning to consolidate and even to relocate to nearby higher quality
following logistics real estate transactions have taken place since the start
of the year:
·On 4 February 2010, the Japan
Logistics Fund J-REIT acquired a 90% interest in a prime logistics property in
Narashino, ChibaPrefecture, from ProLogis. This was the
first transaction between the two parties since the announcement of their
pipeline support plan on 31 August 2009, and marked the first J-REIT
transaction of a logistics asset in a year. The reported NOI cap rate of 5.9%
translates to about 5.2% at current market rents, based on brokerage opinions.
·On 19 March 2010, the Industrial
& Infrastructure Fund J-REIT sold its interest in the IIFFunabashiLogisticsCenter in Funabashi,
ChibaPrefecture, to Dream Logistics Fund for
a price consideration of JPY 9.02 billion from a related party. The NOI cap
rate is estimated to be about 6.3%.
·On 30 March 2010, Orix J-REIT
acquired the SakaiLogisticsCenter
OsakaPrefecture, for a price consideration of
JPY 10.2 billion from a related party. The reported NOI cap rate was 6.1%.
CB Richard Ellis, “prime” Tokyo
logistics cap rates currently stand at 5.5% NOI with some compression expected
from the end of 2010.
In a sign of
increasing investor interest in the Japanese logistics real estate sector, a
wholly owned unit of Mitsubishi Corporation has created an unlisted real estate
fund specializing in logistics facilities. The assets are worth about JPY 23.4
billion, and the fund is to be operated for five years.
weathered the global credit crunch and the ensuing economic downturn, economies
in the Asia region have emerged in good shape
relative to the rest of the world. This has been mainly due to Chinese economic
growth. However, the Japanese economy has not been as quick to respond as the
rest of the Asia Pacific region.
few months if 2010 have seen further tangible improvements in sentiment in the
local real estate investment market, with more capital coming back to Japan in search
of quality assets.
economy still remains fragile and highly dependent on export growth to the rest
of the region. Greece’s
sovereign debt woes and its potential effects on sovereign debt markets around
the world, especially in Europe, have added to
concerns about a sustainable global economic recovery for the world’s second
+ Japanese machinery orders climbed 4% from March to April - (10/06/2010)
Japan - Japanese machinery orders climbed 4% from
March to April, a sign that companies are ready to start spending again as the
Higher spend by
companies and consumers would help bolster a recovery that is driven by exports
and hindered by deflation, reported Bloomberg.
Hitachi Ltd. and Tokyo
Electron Ltd. are some businesses benefiting from a recovering global demand,
leading them to forecast better earnings and invest in plant and equipment.
"Capital spend is
moving out of the trough as a result of improving corporate profits," said
Chiwoong Lee, senior economist at Goldman Sachs Group Inc. in Tokyo. "We see continuing improvement
centred on manufacturing."
The Cabinet Office is noticing
a pick-up in machine orders, after orders stopped falling last month. Compared
to a year earlier, they have risen 9.4%.
+ Toll acquires Asian cargo unit from QANTAS - (09/06/2010)
to have abandoned plans to become a significant player in the Asia-Pacific air
freight market after offloading a business it once dubbed a ''great building
block for expansion''.
The sale of
DPEX Worldwide to Toll Holdings has also raised expectations Qantas could sell
its stakes in two poorly performing freight enterprises to Australia Post.
to reveal what it sold DPEX for, other than to say it made a ''small profit''
on the sale. When the airline bought the business for $S40 million in May 2007,
it trumpeted plans to accelerate the expansion of its freight operations.
volume in Hong Kong is surging towards record
highs for the trade hub, up 47% year over year, and at the highest level in two
and a half years.
handled 354,000 metric tons of freight in April, the strongest volume since
November 2007, and 38 percent better than the airport reported the same month a
year ago amid the steep downturn in global trade.
230,000 metric tons of exports, outbound volume also was the strongest since
The latest data
was also 4.5% higher than the previous month, March. Moreover, Cathay Pacific
(293 HK) recently reported data to confirm the above, highlighting a
substantial tightening of capacity utilization year over year:
airlines [Cathay & Dragon Air] carried a total of 152,808 tonnes of cargo
and mail last month, up 24.1% on April last year. The cargo and mail load
factor was 79.3%, a rise of 13.6 percentage points, while capacity, measured in
available cargo/mail tonne kilometres, was up by 6.4%. For the year to date,
tonnage has risen by 24.1% compared to a capacity increase of 1.1%.
+ Property prices in Japan may be near the bottom - (08/06/2010)
prices in Japan
may be near the bottom because transactions are picking up as loan default
rates begin to decline, said Yuji Hashimoto, a director at Standard &
started to see some property transactions taking place at about 20 to 40
percent discount,” said Hashimoto, director of the structured finance ratings
division at S&P in an interview in Tokyo.
“This tells us that the impact of loan default for the property prices is
likely to be limited going forward and property prices may have bottomed.”
percentage of default in loans backing commercial mortgage backed securities
rated by the U.S.
rating company narrowed to 19 percent in the first quarter, a second straight
decline, a report by S&P dated May 7 showed. The default rate shrank from a
peak of 63 percent in the third quarter last year.
including Chuo Mitsui Trust & Banking Co. and CLSA Capital Partners have
said they will invest in real estate in Japan this year after the nation’s
commercial land prices fell to the lowest in at least 36 years. At least 115
billion yen ($1.25 billion) of properties backing CMBS have been sold by
special servicers as collateral since the second quarter of 2009, according to
best time to invest is before things hit bottom, because if everyone were to
agree we are right at bottom, they would all come rushing back in,” said Buddy
Ferrie, a general manager of the investment division at property consulting
firm Colliers Halifax in a phone interview in Tokyo. “If you have a longer term
outlook, now is a very interesting time to be looking.”
commercial land prices declined 6.1 percent in 2009 from a drop of 4.7 percent
a year earlier, the Ministry of Land, Infrastructure, Transport and Tourism
said in a report in March. Values are at their lowest since the ministry began
collecting comparable data in 1974.
with decline in property prices, building owners are injecting capital to
refinance loans or returning properties to lenders as collateral when loans are
coming due or being reviewed by banks.
Bank Ltd. sold Pacific Century Place, an office building adjacent to the Tokyo station, after K.K.
DaVinci Holdings, the owner of the building, failed to repay loans. Secured
Capital Japan Co., an investment management company, bought the building for
140 billion yen, 30 percent less than what DaVinci had paid three years
loans are more likely to be rescued or receive extension of repayment because
many people believe that it is not wise to sell large properties in the current
market conditions,” said S&P’s Hashimoto. “As a result, they are less
likely to default.”
+ JVC sells their office and factory for Y6.3bn - (07/06/2010)
AV equipment manufacturer Victor Company of
Japan (JVC) will sell its main office
and factory in Moriyacho, Kanagawa-ku,
Yokohama City for 6.33 billion yen [$68
million]. The buyer is real estate
company SG Realty, an affiliate of logistics
company Sagawa Express. JVC will
vacate the main office and factory and relocate
by December, but the company’s
new location has not been decided.
+ Sanritsu rent new 1.6491 square meter warehouse at Hachiouji - (04/06/2010)
Sanritsu corporation anounced that it will have a lease contract for fixed assets.
Facility of New Hachiouji warehouse (2969-2 Ishikawa-cho, Hachioji, Tokyo) which has 8265.01㎡ area of land, and 16491.15㎡ architectural area. Total of lease fee is 3,548billion yen(tax excluded).
The lessee is Hachioji facility development Special Purpose Company which is 100% Daiwa house industry's affiliate company
With the warehouse to be newly built in Hachioji as a inland main hub, Sanritsu is going to target consolidating offices' function around Hachioji and expansion of operations by new business acquisition. Making use of the lease, it will promote effective of funds. Leasing will start on April 1, 2011.
+ Japan Housing starts increased 0.6% in April - (01/06/2010)
Tuesday afternoon MLIT announced
new housing starts increased 0.6% to 66, 568 units in April, compared with last
year and is the first increase in 17 months. MLIT stated “According to seasonally
adjusted annual rate, we can see recovery on the whole, with August, 2009 being
the worst point of the market.” However, MLIT sees the market in a state
continuing to move back and forth.
Condominium units sales turnover was up 35.8% to 9,668
new condominium units. This reflected the
construction of large apartment complexes in Tokyo after another, for the first time in 16
+ Kenedix to set up $110 mln Japan property fund - (01/06/2010)
Japanese real estate
asset manager Kenedix Inc (4321.T) said on Tuesday that it plans to launch a 10
billion yen ($110.8 million) private fund to invest in Japanese office and
commercial buildings, in the latest sign that the country's property market is
Kenedix said the new fund, with a five-year
management period, would use capital acquired from Korean pension funds seeking
stable long-term returns.
The Japanese property sector was it by a
price slump in the wake of the global financial crisis, but some market
participants say that it has bottomed out and is gradually starting to improve.
Prior to the announcement, Kenedix's shares dropped
2.4 percent to a 12-month closing low of 20,000 yen. (Reporting by Mariko
+ GIC may list Japanese Real Estate Assets - (01/06/2010)
SINGAPORE—Government of Singapore Investment
Corp.'s giant real-estate arm GIC Real Estate is considering an initial public
offering in Singapore
of its overseas assets, a person familiar with the situation said Wednesday.
decision may be taken next month," the person said.
He said the
sovereign wealth fund's real-estate arm is looking to list its Japanese assets,
which includes ProLogis Holdings.
deal happens it would be huge, multibillion dollars," the person said,
adding that GIC Real Estate is talking to bankers about the IPO.
still watching the market and the exact timing is yet to be decided given the
recent volatility in the equities market," he said.
GIC Real Estate
invests globally in real estate and real-estate-related assets outside Singapore. It
manages a multibillion-dollar portfolio of direct and indirect property
investments with close to 300 investments in more than 30 countries.
GIC, manages Singapore's
foreign-exchange reserves. It is the world's fourth-largest sovereign fund in
terms of money managed, according to a recent report by Deutsche Bank. Its
portfolio stands at more than 250 billion Singapore dollars (US$177 billion).
In 2008, GIC
Real Estate spent $1.3 billion to buy the China
operations of ProLogis as well as the 20% stake in the company's Japanese
property that it didn't already own, with an aim to consolidate its existing
portfolio in Japan and get a
platform to expand its logistics property business in China.
Estate sees more advantages coming in through the IPO rather than having it
unlisted," the person said.
+ Wal-Mart looks to reduce delivery prices - (28/05/2010)
Wal-Mart Stories Inc. is looking to take over US transportation services from suppliers to reduce delivery prices.
The company is contacting all manufacturers that provide products for the superstore. Their goal is to take over deliveries where it can do the same job for less and use the savings to reduce prices in stores, said Kelly Abney, vice president of corporate transportation of Wal-Mart.
"It has allowed our suppliers to focus on what they do best, manufacturing products for us," he said. He believed that with lower costs, there will be increased sales.
Wal-Mart is increasing the use of contractors and its own fleet of trucks to pick products up directly from manufacturers and transport them to its distribution centres and stores. Currently, the retailer only moves most goods from its distribution centres to their stores.
This will allow greater utilisation of the company's fleet of trucks and trailers and improve on-time delivery rates and help negotiate better fuel prices.
This is Wal-Mart's attempt to reach further back into the supply chain, to reduce the costs of goods sold so as to increase their gross margins.
+ Japan property investment seminar – lesson from the financial crisis - (23/05/2010)
insights into property investment - lessons from global financial crisis
IPD Japan will hold a Property Investment
Seminar on Friday 18 June at Bell Salle Yaesu, Tokyo starting at 9.30 a.m.untill
The event will discuss insights into
property investment, which may be derived from the recent global financial
Guest speakers include:
Khoo, Global Head of Asia, AXA REIM
Matsumura,Executive Research Fellow, NLI Research
Obu, Director, RREEF Japan ResearchHead, Deutsche
Shimizu, Professor at Reitaku University
Tanabe, Professor at Miyagi University
Nabarro, Head of Derivatives and Business Development, Investment Property
If you would like to attend please contact
IPD on 03-5326-3051.
+ Japanese REIT property acquisitions exceed 150 billion yen - (21/05/2010)
The final months of 2009 and the first 3 months
of 2010 have indicated a gradually improving Japanese REIT market (Real Estate
Investment Trusts) with corresponding improvement in the financing environment.
The improving demand driven by the REITs into the Japanese property market has resulted
in sales for the January-March period 2010 at 90 billion yen while total acquisitions
exceeded 150 billion yen. This number excludes 55 billion yen paid in April by Mori
Trust for the 50% shared interest in the TokyoShiodomeBuilding.
+ New 150,000 m2 commercial development to open in Kyoto, Japan - (20/05/2010)
Commercial facility developer Aeon Mall, which is part of major Japanese retailer Aeon Group, will open a new commercial facility "Aeon Mall Kyoto" in front of JR Kyoto Station on June 4. The facility was completed by Japanese builder Shimizu, which took over the development from bankrupt developer Joint Corporation. Aeon Mall will handle the tenant leasing and property management.
KYOTO Aeon Mall is only 5 minutes walk from Kyoto Station so is expected to serve not only local residents but also foreign tourists. Total floor space is approximately 150,000 m2, with 50,000 m2 of total rentable shopping center.
The part six and seven-story Mall consists of two wings. The new commercial property features a 12-screen cinema complex which will be the largest Kyoto. The Mall will also include approximately 130 stores including restaurants, supermarkets and fashion retailers.
The commercial building features a number of green building initiatives including approximately 2,200m2 of green roof, LED signs and lights as well as rainwater storage tank capacity of 555 tons. The building has achieved a Japanese green building A rank.
AEON Mall currently operates 55 malls in Japan and the opening of the new KyotoMallPrefecture will be the third in Kyoto Prefecture.
Aeon Mall KYOTO (Photo: AEON MALL)
Development name: KYOTO Aeon Mall
Address: Minami-ku, KyotoCity
Land Size: 30,100m2,
Gross Floor Area: approximately 148,300m2, with 51,000m2 total rentable area.
Design and construction: Shimizu Corporation
Facility operator: Aeon Mall
Number of stores: 130
Opening: June 2010 (planned)
Major Tenant: KOHYO, Uniqlo, Sofmap, Ogaki Bookstore
+ CEVA to expand asian warehouse capacity - (19/05/2010)
Asia - CEVA Group plans to increase its
capacity in Asia by expanding its warehouses in Malaysia,
China, Australia, Indonesia
said its Asia-Pacific president Vittorio Favati.
Favati says the company has nearly
exhausted its capacity in Malaysia
and plans to add 700,000-800,000 sq ft or 50% of their present warehouse space
of 1.5 million sq ft.
CEVA is also looking to expand by 250,000
sq ft in China, 200,000 sq
ft in Australia, 150,000 sq
ft in Indonesia and 100,000
Meanwhile, India is
expanding quite robustly with staff in India is expected to double this
CEVA is one of the world's top five
logistics companies and is expecting to achieve higher revenue and profit this
Favati believes Asia
is a promising market and CEVA is now taking the opportunity to increase their
staff and systems in warehousing, freight and supply chain management.
+ China real estate prices continue to increase - (17/05/2010)
BEIJING -Real estate prices across China in April
marked the largest year-on-year increase since monthly indexes started in July
to the sales price index for buildings in 70 major to midsize cities released
National Bureau of Statistics on Tuesday, property prices were up 12.8 percent
year on year, exceeding the 11.7 percent rise logged in March.
estate prices in most cities rose more sharply than a month before. Haikou and Sanya in the island province of Hainan
saw prices surge 53.3 percent and 52.3 percent, respectively.
Beijing, prices were up 14.7 percent, while Shanghai saw an
11.6-percent rise. However, the pace of growth slowed from March in Guangzhou and Shenzhen, both in Guangdong province.
authorities, trying to stem an inflationary bubble, adopted new policies in
April to control speculative property purchases. For example, buyers are no
longer permitted to finance a third home or condominium using a bank mortgage.
consumer price index in April advanced 2.8 percent year on year, logging its
biggest rise since October 2008. The index is approaching the ceiling of
"around 3 percent" set by Chinese authorities.
+ Tokyo real estate apartment sales increase for 3rd month running - (17/05/2010)
Japan Real Estate Economic Research Institute announced on the 17th May that
the number of newly-built apartments in the Tokyo metropolitan area was 3,214. According
to the apartment market trend research in April this represents an increase of
22.6% compared with a year-ago and represents 3 consecutive months of increases.
contract sales for April was 2,568 or 79.9%, a 15.2 point rise. Forecast sales
for May are currently estimated at 3,900 apartments.
research also indicated an increase in buyer interest, with a lot more Japanese
people now who are considering to purchase.
+ Yasuda Warehouse net income falls 10% - (15/05/2010)
Yasuda Warehouse, a Japanese warehouse, logistics and real estate company has reported a net income decrease of 1.4 billion yen. This
represents a 10 percent decrease on last year’s result. The decrease is related
to a decrease in transaction volumes in the distribution business, and by a
downturn in their real estate holdings.
Sales fell 7 percent to ¥ 32.4 billion. The
logistics business, which contributed to operating earnings during the previous
year suffered from reduced fees and a reduction in handling of international
cargo. Operating income was down 12% to 2.6 billion yen.
+ New insights into property investment - lessons from the global financial crisis - (15/05/2010)
The 7th Annual IPD Investment Seminar will
be held on Friday 18 June at Bell Salle Yaesu, Tokyo starting at 9.30 a.m. untill
This years event will discuss what are the new insights into property investment,
which can be derived from the recent global financial crisis.
Guest speakers include;
Frank Khoo, Global Head of Asia, AXA REIM
Toru Matsumura,Executive Research
Fellow, NLI Research Institute
Koichiro Obu, Director, RREEF Japan ResearchHead, Deutsche Securities Inc.
Chihiro Shimizu, Professor at Reitaku University
Nobuyuki Tanabe, Professor at Miyagi University
Nick Nabarro, Head of Derivatives and Business Development, Investment
Please call IPD Japan on 03-5326-3051 for more details.
+ Trusco Nakayama to expand warehouse distribution in Japan - (12/05/2010)
Nakayama said in its long-term management strategy of the company's fiscal 2010
financial results announced on May 7 that it aims to strengthen logistics in response to market characteristics which have resulted in the geographic expansion of direct
shipping logistics centers. These centers are trying to improve and increase the delivery of 'instant' stock items.
three grouped by area for the distribution center and Wakazuruto Fakutoriruto
January 2010, by holding the item in stock wealth distribution center is
central to the core center of each group, the same group Now we can share it in
By strengthening and optimizing inventory and immediate delivery to customers
in each distribution center we plan to expand the efficiency of inventory
number of distribution centers for their home improvement stalls is 12 and 3 for their 'Wakazuruto' and 'Factory Route' stores.
to be addressed as the company expands include preventing shortage and excess in inventory and installation of inventory management
systems to prevent loss and strengthen logistics capabilities.
+ Japan's Panasonic & Sanyo collaborate on real estate & logistics - (10/05/2010)
Tokyo - May 7, Panasonic, announced a new
medium-term plan, in which it outlines collaboration with Sanyo and promotion of its global infrastructure such as real estate, warehouses overseas offices. They will also promote and share
A working group collaboration strategy between Sanyo and Panasonic was established on April 1 this year which identified operating income synergies until fiscal 2012 of 80 billion yen (approximately 800 million USD).
Source: Panasonic & Sanyo
+ Chinese Property Investors snap up real estate on South Korean Island - (04/05/2010)
of holiday villas on South Korea's Jeju Island have been snapped up by about
150 investors from Shanghai as Beijing tries to keep a real estate bubble from
2nd, 58 real estate contracts said to be worth of $26.7 million had been signed
during a three-day business tour by Chinese investors at the island's Raon
Private Town, a booming holiday zone still under construction. Many of the
luxury villas will be rented to Chinese tourists, the China News Agency
Island in the Korea Straits, also known as the "Island of the Gods",
is a popular vacation spot for Koreans, Japanese and neighboring Chinese.
Source: The China News Agency
+ Forever 21 opens flagship store in Tokyo - (02/05/2010)
21 Inc, a fashion brand from Los Angeles, recently launched its first ever
flagship outlet in Asia at Matsuzakaya department store in Ginza shopping
shop, recognized for its rightly priced unique designs for youngsters, will carry
on its shelves, along with fashion apparels for grown-ups, a fresh collection
for kids in the age group of 6-14 years.
to Lawrence Meyer, Executive Vice President of the Group, Matsuzakaya Ginza was
chosen for the launch of the brand’s new flagship stores owing to its perfect
following month, Forever 21 is likely to launch two new stores in Chiba
Prefecture and Tokyo’s Shinjuku districts.
+ Mitsui to open new Outlet Mall in western Japan - (01/05/2010)
Japan's Mitsui Fudosan announced
that it will develop Mitsui Outlet Park Kurashiki (tentative name) in Kurashiki
City, a leading industrial city of Okayama Prefecture in western Japan. The
outlet will be the first Mitsui outlet in the region and is scheduled to open
in the winter of 2011.
This project is located in
Kurashiki, Okayama Prefecture. It is located close to the Kurashiki Station and
at the junction of the Okayama and Sanyo Expressway intersection of Kurashiki.
The site is well located to serve the Chugoku, Shikoku and the Kansai regions
The site area is about
66,000m2 with 100 retail and commercial stores planned having
a GFA of around 20,000m2. The buildings will be situated
amongst ample vegetation and water features with the sustainable eco design
based on a concept called "Kurashiki Forest". The stores will feature
leading international brands and focus on Men's, Women's and Kids Fashion and
accessories as well as Sports & Outdoors.
Okayama Ken, Kurashiki City, Kotobuki-cho 12-1
JR Sanyo Line Hakubi Line Railway
Mizushima Seaside "Kurashiki" station. Sanyo Expressway "Kurashiki" IC
+ Office rents in Shibuya Station area still falling - (30/04/2010)
rents for large office buildings in the areas around Shibuya Station are
between 23,000 yen and 28,000 yen per tsubo [$72 to 88 per m2] as of April 1,
2010. This data is based on results of an interview survey conducted by the
Nikkei Real Estate Market Report on multiple real estate companies.
+ Japanese real estate fund to be managed by ING - (30/04/2010)
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
ING has changed the name of the fund to the Nozomi Real Estate Fund.
* Total units: 339 units
(127 units Southfort, Pakufoto 132 units, 40 units Middofoto, Hiruzufu Oto 40
* 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: Yokohama
branch of Sumitomo Mitsui Construction Co.,
* Joint Seller: Towa Real
Estate Development Co., Ltd
Joint Press Release
+ Has Japan’s Property Market Bottomed? - (27/04/2010)
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.
firm will target real estate investment trust managers and building management
businesses, spending about 2 billion yen on each takeover.
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.
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.
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.
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.
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.
+ Real Estate Funds return to Japanese commercial property - (27/04/2010)
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.
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-
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.
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.
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.
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.
+ China to lead asian and world economic recovery - (23/04/2010)
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.
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."
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 Optimistic About Recovery - (22/04/2010)
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 Back On Track - (22/04/2010)
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
"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 plans to move its China hub to Shenzhen - (21/04/2010)
recently signed an agreement with ShenzhenAirport on building a
distribution centre, becoming the fourth express delivery giant of after FedEx,
DHL and UPS to launch facility there.
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.
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.
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 to build 47 million USD plant & integrated logistics centre in Saitama - (21/04/2010)
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.
+ New 35,000m2 distribution centre opens in Tokyo - (20/04/2010)
ProLogis a global provider of industrial real
estate and distribution facilities announced the completion of the new "Ebina
ProLogis" facility located in EbinaCity 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.
6-2-1 Ebina, Kadosawabashi, Kanagawa
Site area: 35,470m2
(approximately 10,729 tsubo)
Total floor area: 35,484 m2 (approximately 10,734 tsubo)
Building, part two-storey RC Building
+ Tokyo industrial property acquired from Itochu - (20/04/2010)
Investments Pte Ltd has acquired an industrial property from ITOCHU Corp and
ITOCHU Property Development, Ltd in Tokyo,
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.”
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)
+ China expects foreign trade volume of USD 5.3 trillion 2020 - (20/04/2010)
report of China's
foreign trade sector predicted the world's largest exporter would more than
double its foreign trade volume by 2020 to 5.3 trillion USD dollars.
It also called
to improve the quality of foreign trade sector and to lower import tariffs to
promote the nation's trade balance.
jointly compiled by researchers with think-tanks under the Ministry of
Commerce, the Ministry of Finance, and the ChineseAcademy
of Social Sciences predicts merchandise exports to top other countries and be
2.4 trillion U.S. dollars in 2020. This represents 10.1 percent of the world
total, while imports will reach 1.9 trillion U.S. dollars and rank second
largest, accounting for 8.2 percent of the world total.
The report was
seen by analysts and officials as a "road map" which lays out a
theoretical basis for the reforms in China's trade policies and
mechanisms over the next decade.
Weighed on by
the global downturn, China's
foreign trade contracted to a three-decade low in 2009, with total volume down
13.9 percent year on year to 2.2 trillion U.S. dollars.
the downturn had prompted China
to adjust its exports structure, and shift focus on high-end manufacturing,
energy-saving and environment-friendly industries and developing modern service
Li Gang, a
leading writer of the report, said the global downturn has phased out a number
of backward and less competitive enterprises while offering great opportunities
for innovative enterprises.
Source: China Daily
+ 1.52 B Yen Tokyo land bought for industrial real estate project - (19/04/2010)
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.
Iriya, Adachi-ku, Tokyo
Site Area: 9,901.51
square meters (2,995.21 tsubo)
Warehouse and office
approximately 4,000 square meters (tentative)
+ $200 million data center to be built in Tokyo, Japan - (19/04/2010)
Nomura Research Institute, Ltd. (NRI) has
decided to build its new data center in TamaCity, Tokyo. This will be NRI’s fifth data center
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
Location: TamaCity, Tokyo
Site area: 19,496.3 m2
Scheduled completion date: 2012
Source: Nomura Research Institute
+ Tokyo industrial real estate vacancy rate at 15.3% - (18/04/2010)
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
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.
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
with comments from Bear Logi
+ $1 billion Japan real estate fund - Sumitomo Trust and AXA - (18/04/2010)
& 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).
+ New commercial real estate precinct planned for Tokyo - (17/04/2010)
– 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.
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.
project will utilize environmentally friendly ‘eco buildings’ with roof top
gardens, roof top vegetable growing areas, solar panels and wind turbines.
+ Sagawa Global Logistics establishes new Logistics Centre in Shanghai China - (16/04/2010)
Japan’s Sagawa Global Logistics Group, has opened a new distribution
center in Shanghai, China to support its local 3PL
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.
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 HongqiaoAirport
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
the same quality service Sagawa offers in Japan,
they hope to expand to customers across China
with their foothold in Shanghai.
facility : TaopuDistributionCenter
North, Phase II, Taopu, Shanghai
+ Chinese economy continues to expand - (15/04/2010)
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
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.
price index (PPI), a major measure of inflation at the wholesale level, rose
5.9 percent in March from a year earlier.
+ Investment in Chinese Real Estate sets new records - (15/04/2010)
the latest real estate data released by China's
National Bureau of Statistics, home prices in China's
70 large and medium-sized cities including Beijing,
Shanghai and Guangzhou increased 11.7 percent in March
from a year earlier. This was a new record and beat the previous growth rate of
11.3 percent set in January 2008.
Prices of new
homes nationwide rose 14.2 percent in March year on year, with newly built
condominiums prices rising 15.9%.
industry officials, under these circumstances, could expect to prolong measures
to curb the heated real estate investment market.
+ Deutsche Post and Volkswagen announce new 5 year contract - (13/04/2010)
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
·Services provided will
include inbound receiving, put away and storage, picking and kitting,
sequencing and line-side deliveries directly to the Volkswagen production
Source: Dow Jones
+ China tops Global Property Sustainability Survey - (13/04/2010)
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.
+ ULI Japan's Young Leaders Event – FUKUOKA! - (13/04/2010)
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, KyushuUniversity, Fukuoka Urban Laboratory
and the Fukuoka City Government, to see what keeps FukuokaCity
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, KyushuUniversity
Toshiaki Amamoto – Director, Section for Attracting
Foreign & Domestic Enterprises, FukuokaCity 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!
·How has Fukuoka
executed sustainable urban development?
·What ingredients make Fukuoka
a more “LivableCity”?
·How will Fukuoka remain Japan’s gateway city to Asia
with increased domestic competition?
·How will the city respond to Japan’s changing
·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
Session with Participants
reception (same venue)
YLG Members 3,500
ULI Members 4,500
JIA Members 5,000
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
· 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
+ ULI Japan event - Fukuoka, Japanese Real Estate Market - (12/04/2010)
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, KyushuUniversity