Goodman Group (Goodman) today announces its intention to rebrand the Japanese property group, J-REP Co. Ltd. (J-REP), listed on the Tokyo Stock Exchange, as Goodman Japan Limited. The rebranding has been approved by the J-REP Board of Directors subject to the approval of J-REP shareholders at an extraordinary meeting scheduled for 26 September 2011.
Goodman holds a 50% interest in Macquarie Goodman Japan Pte. Ltd. (“MGJ”), a joint venture with Macquarie Group Limited. MGJ is the majority and controlling shareholder of J-REP holding 72% of its voting stock (83% on a fully diluted basis).
Goodman Group CEO, Mr Greg Goodman said: “We are delighted with the decision to launch the Goodman brand in Japan. As the third largest economy in the world, Japan is home to a number of major corporations and third party logistics providers, who are driving demand for modern and flexible logistics space. The rebranding provides Goodman with the opportunity to grow our business in the Japanese logistics market. There are significant opportunities in Japan’s logistics real estate market to add technology, increase efficiency and expand the use of international best practice. Operating in Japan as a fully integrated part of the Goodman Group will enable us to use our financial resources and global expertise to serve a wider range of customers.”
J-REP currently has A$1.0 billion (¥87.4 billion) of assets under management across 27 logistics properties, predominantly in the Greater Tokyo and Osaka regions. With Goodman’s strengthened commitment in Japan and in response to a number of market trends, including ageing logistics stock, demand for larger facilities due to consolidation, and the undersupply of high quality, modern logistics facilities, it is Goodman’s intention to strategically grow the Japanese business by:
- developing modern, investment grade logistics and distribution facilities; and
- the potential acquisition of high quality completed facilities.
“We have size and scale, proven capability and an extensive international operating platform, together with strategic global customer and investor partnerships. We have access to capital, our Japanese platform is well established and our Japanese team is experienced and motivated with a proven track record. This positions us very well to work with customers looking to expand their businesses in and outside of Japan.” Mr Goodman said.
J-REP and Goodman are currently assessing a number of attractive acquisition and development opportunities with an end value in excess of A$1.2 billion (¥100 billion).
“The rebranding to Goodman Japan is consistent with our broader commitment and growth strategy within the Asian region and recognises the strong demand and opportunities that exist for specialist providers of prime quality logistics space,” Mr Goodman concluded.
-ENDS- For further information, please contact
Group Corporate Communications Manager
Tel +61 2 9230 7159
J-REP Co., Ltd
Corporate Planning Division
Tel +81 3 6910 3341
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe and the United Kingdom. Goodman Group, comprised of the stapled entities Goodman International Limited and Goodman Industrial Trust, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.
Goodman’s global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.
J-REP is a Japanese logistics property specialist, listed on the Tokyo Stock Exchange. J-REP provides a range of brokerage, asset management, funds management, property management and construction management services in relation to logistics property. J-REP employs 60 people and currently has ¥87.4 billion (A$1.0 billion) of assets under management across 27 logistics properties.