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Expansion of Investment Targets for Japanese J-REITs: Increased Investment in Operational Assets, Such as Data Centers

J-REITs have grown tremendously over the past 25 years. However, offices and other traditional asset classes still make up the majority of J-REITs' portfolios. Japanese regulatory offices are trying to amend J-REIT regulations to allow J-REITs to more easily acquire non-traditional operational assets, such as data centers.

J-REITs have grown tremendously over the past 25 years. However, offices and other traditional asset classes still make up the majority of J-REITs' portfolios. Japanese regulatory offices are trying to amend J-REIT regulations to allow J-REITs to more easily acquire non-traditional operational assets, such as data centers.
Kenji Utsumi

Kenji Utsumi

Partner, Nagashima Ohno & Tsunematsu

Kenji Utsumi is a partner at Nagashima Ohno & Tsunematsu. He has advised clients, on large real estate transactions, several of which have been honored as the “Deal of the Year in Japan.” He regularly counsels a number of TSE listed J-REIT clients as well as private REITs and real estate private equity funds. He earned his LL.B. from the University of Tokyo in 1992 and his LL.M. from the University of Pennsylvania Law School in 1999. Mr. Utsumi lectured at the University of Tokyo School of Law as an Adjunct Professor from 2022 to 2025.