Portfolio Focused on Retail Properties in Urban Areas

In view of the changes in the environment surrounding retail properties, including the decline of suburban areas—due to factors such as concentration of population in urban area, shrinking population, and growth of e-commerce—and inbound consumption that continues to expand in urban area, JRF positions as core assets those urban retail properties in locations where people gather so as to aim for further urban-type focus.
JRF classifies these core assets into “Prime,” “Major Station,” and “Residential Station,” and carries out acquisition and management focused on these three types of core assets.

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Prime

These are retail properties located in representative commercial districts in Japan, including Ginza and Omotesando in the Tokyo region, and Umeda, Shinsaibashi, and Sakae in the Osaka-Nagoya region. These are places where the latest trends are set, and also visited by many tourists.

GYRE (Shibuya-ku, Tokyo)

Located at the intersection between Omotesando and Cat Street, this is JRF’s flagship property. Also of note are the tenants leading in fields such as fashion, design, and art. “GYRE” means spiral, and the meaning of its name is also reflected in its shape.

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Major Station

These are retail properties located around stations used by the large number of passengers, such as stations of major train lines in the three metropolitan areas. Areas of high commercial prosperity form around these stations.

KAWASAKI Le FRONT (Kawasaki-ku, Kawasaki-shi, Kanagawa)

Situated in front of JR Kawasaki Station, which boasts one of the largest number of passengers in Japan, this is a large-scale, multi-tenant retail property located at the station’s east exit with the largest scale in terms of marketing area and sales.

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Residential Station

These are retail properties located around stations in highly populated areas that are highly accessible from major business areas. They cater to the various daily consumption needs of local residents.

KAMISHIN PLAZA (Higashiyodogawa-ku, Osaka-shi, Osaka)

Located in a densely-populated residential area in northeast Osaka, this is a retail complex with a supermarket as its core tenant catering to the daily needs of the local residents. As a one-stop retail property that supports the lives of everyone in the local neighborhood, it meets the daily uses of people of all ages, from young to elderly people.

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Using Accumulated Capability of Managing Facilities to Take on Further Challenges

Retail properties are in locations where people gather, and when combined with the ability to attract people, can continue to exhibit advantages even amid changes in the surrounding environment.
JRF has developed an ability to attract people through managing a variety of retail properies over many years. This capability of managing facilities, which can also be called experience, is used to undertake new challenges one after another.

Retail Property Management Unique to JRF

The ability to attract people can also be said to be the adaptive capability of managing facilities that grasps the diverse requirements of consumers. Through many years of managing retail properties, JRF has accumulated a capability of managing facilities that is unique to JRF. This adaptive capability can be broken down into three aspects: tenant relationships, creation of atmosphere, and promotion. Among them, JRF places the utmost priority on tenant relationships, and works to further strengthen relationships with the approximately 1,000 current tenants. Furthermore, JRF is expanding the circle of relationships to other sectors beyond existing categories of retail properties. In addition, under the creation of atmosphere, JRF strives to create facilities which customers want to visit again, such as installing playgrounds and creating local community spaces. Under the aspect of promotion, JRF organizes events and other occasions—specific to these facilities—which are highly capable of attracting people.
Put the most effort into facility management, because that is strength not found elsewhere—this is JRF’s firm belief.

Relationships beyond retail categories (G-Bldg. Kyoto Kawaramachi 01 and G-Bldg. Shibuya 01)

Unbounded by existing retail categories, JRF invites hotel tenants of new business categories responding to sharing needs. One tenant offers futuristic accommodations based on the concept of “A New Kind of Accommodation for a New Generation.”

G-Bldg. Kyoto Kawaramachi 01

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G-Bldg. Shibuya 01

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Art & Gallery (GYRE)

At the gallery space GYRE GALLERY, exhibitions are organized by a variety of creators, including artists, designers, photographers, and architects. The atrium continues for approximately 30m from the first basement level up to the fifth floor, and installation art (objects) with seasonal flavors are displayed here to communicate the concept of GYRE.

GYRE GALLERY

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The atrium

Providing places for spreading trends (CUTE CUBE HARAJUKU)

JRF provides places for spreading trends—places where people can experience brand concepts and products at pop-up shops using small sections of floor space. Support is also provided to help tenants grow, as well as help tenants with no prior experience set up their shops.

Conducting events highly capable of attracting people(MARINE & WALK YOKOHAMA)

Using the special location of being an open-air mall along the coast filled with a sense of openness, facility promotion using events highly capable of attracting people—such as MARINE & YOGA, SEASIDE CINEMA, and the wine market event WINE TO UMI (Wine & Sea)—were organized.

Renewal of Owned Properties

The redevelopment and renewal of retail properties under JRF’s ownership are also initiatives of JRF. Several retail properties have been reborn so far, including G-Bldg. Jiyugaoka 01 in Tokyo’s Jiyugaoka, and G-Bldg. Shinsaibashi 04 in Osaka’s Shinsaibashi.
JRF undertakes initiatives that draw out the maximum potential of facilities.

G-Bldg. Jiyugaoka 01 (Bldg. B)<After> 

Located in the popular area Jiyugaoka, this retail property comprises Bldg. A and Bldg. B. The reopened Bldg. B, which underwent renewal in November 2016, has a unique design making abundant use of wood. It was reborn into a retail building which has its primary structure through the 1st to the 3rd floors of the building made of fireproof timber in consideration of reducing environmental load, design, and advantages for leasing.

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G-Bldg. Shinsaibashi 04<After>

Comprising Bldg. A and Bldg. B adjacent to each other, this retail property is located in the busy shopping arcade to the north of Osaka’s Shinsaibashi Station. It underwent renewal focused on the change of tenants. It was reborn into a retail property with a cheerful mood by inviting tenants taking into consideration the demand for shopping around for daily necessities as well as removing the partitioning wall between the two buildings to give a sense of unity as well as allow natural light in.

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Continual ESG Activities

JRF shares the same concept about sustainability with Mitsubishi Corp.-UBS Realty Inc. (the Asset Manager) that outsources its asset management, and is forging ahead with initiatives together with the Asset Manager. JRF conducts its investment and operational activities in accordance with "Responsible Property Investment Policy" a policy set out by the Asset Manager.

Environment

JRF undertakes various ESG activities. These include the conversion to LED lighting and greening of wall surfaces and rooftops of retail properties as well as the issuance of Green Bonds. JRF is also recognized internationally for these proactive activities, being selected for the MSCI Japan ESG Select Leaders Index, an index adopted by Japan’s Government Pension Investment Fund (GPIF), as well as receiving the Green Star—the highest evaluation—under the real estate evaluation of the Global Real Estate Sustainability Benchmark (GRESB).

Social

JRF carries out day-to-day management of its properties based on the Property Management Policy so that customers can shop safely, and is mindful of making contributions to society and local communities. JRF aims to provide retail facilities that exist as part of the local community by having its properties fulfill a role as hubs for disaster prevention activities in areas where disasters are prone to occur.

Corporate Governance

The Asset Manager operates while bearing fiduciary responsibility for exercising a duty of care and a duty of loyalty to JRF.

Sustainability activities of JRF