• New supply of logistics facilities in Japan is rising, particularly in the Greater Tokyo area, and potential oversupply is becoming a concern in some areas. However, demand relating to e-commerce continues to be strong, and there are other sources from which demand for state-of-the-art logistics facilities looks set to expand.
  • Applications of logistics facilities are expanding beyond storage and delivery, particularly for LMTs with high specifications. Other uses include offices, call-centers, research and development facilities, and factories. This implies that LMTs are shifting to the next stage of its evolution and becoming “multi-use industrial assets”.
  • The traditional storage and delivery functions of LMTs are also likely to expand to include refrigerated storage which to date has been mainly provided by self-owned or built-to-suit facilities. The backdrop of this potential market transformation is the issue of aging existing facilities, as well as changing dietary and consumption habits, both domestically and abroad.