The J-REIT market emerged from its excessive undervaluation in 2024, and the Tokyo Stock Exchange REIT Index rose in 2025. However, looking at the wider APAC region, the Australian REIT market surpassed the J-REIT market in terms of market capitalisation at the end of last year, and the Singapore REIT market is also closing in on the J-REIT market. Furthermore, China has surpassed Japan in terms of the number of listed REITs. We will discuss what is required to foster the growth of the Japanese market, whilst ensuring that the listed and private REIT markets complement one another.
The language is Japanese with simultaneous translation.
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发言人
西格丽德-齐亚尔西塔
首席执行官
APREA
西格丽德-齐亚尔西塔
首席执行官
APREA
Sigrid 是亚太不动产协会(APREA)的首席执行官。她常驻新加坡,负责监督协会在亚太地区的战略方向、计划和运营。在她的领导下,亚太不动产协会重新定位为专注于房地产和基础设施的领先行业组织。
Sigrid 于 2019 年 1 月加入 APREA 的执行团队。
在加入亚太不动产协会之前,她于2010年至2018年担任戴德梁行(C&W)亚太区研究与咨询服务董事总经理,负责研究、思想领导、战略制定和客户管理。 在调往新加坡之前,她常驻华盛顿特区,领导戴德梁行在美国中大西洋地区的研究小组,负责监督华盛顿特区、弗吉尼亚州、马里兰郊区、巴尔的摩和费城地区市场研究活动的方方面面。在加入 C&W 之前,Sigrid 曾担任全美房地产经纪人协会 (NAR) 的高级经济学家。在该职位上,她负责开发 NAR 的办公室、仓库、零售、多户住宅和国际研究项目。
作为公认的全球经济、公共政策和房地产问题专家,Sigrid 经常在行业活动中发表演讲。《华尔街日报》、《金融时报》、彭博社、《纽约时报》和路透社等众多全球出版物也经常刊登她对商业和住宅房地产市场的评论。此外,她还在 CNBC、彭博社、CNN、国家公共广播电台和亚洲新闻频道等财经网络和广播电台上多次亮相。
Sigrid 拥有康奈尔大学约翰逊管理研究生院工商管理硕士学位和宾夕法尼亚州立大学经济学硕士学位。她是多个民间团体的成员,包括新加坡莱佛士城扶轮社(Rotary Club of Raffles City),并在该社担任过多个领导职务,同时还是新加坡克罗恩氏症和结肠炎协会(Crohn's & Colitis Society of Singapore)执行委员会的成员。
发言人
矢野英树
主席
APREA日本分会
常务董事
康森特投资管理有限公司
矢野英树
主席
APREA日本分会
常务董事
康森特投资管理有限公司
从 2015 年到 2023 年,他担任住友商事旗下子公司住友不动产管理公司的总裁兼首席执行官,并将公司的资产管理规模扩大到超过 7000 亿日元。他使公司的投资多元化,投资于 SOSiLA 物流 REIT(公开交易)和 SC Realty Private REIT(私募)等结构,以及各种独立账户。.
此前,他在住友商事株式会社担任要职,管理着日本和美国的综合房地产投资组合,涵盖住宅、商业和物流领域。.
2024年至2025年4月,他曾担任ES-CON Japan的董事兼战略业务部主管。目前,他任职于Fortress Investment Group,从事与日本房地产投资信托基金(J-REIT)相关的业务。.
他于 1983 年毕业于京都大学,获得建筑学学士学位。此外,他还是日本注册建筑师、备受尊敬的 ARES 认证大师、APREA 董事会成员/日本分会主席以及 RICS 日本分会 MEG 联合主席(FRICS)。.
发言人
铃木直树
总裁兼首席执行官
KJRM控股
铃木直树
总裁兼首席执行官
KJRM控股
自2022年4月起,铃木直树担任KKR旗下子公司KJR Management(日本最大的上市房地产投资信托基金管理公司)总裁,并自2020年1月起兼任首席可持续发展官。铃木直树于2012年1月加入三菱商事-瑞银房地产公司(现KJR Management),担任研究主管,之后曾任其子公司MCUBS MidCity副总裁以及三菱商事-瑞银房地产公司副总裁,直至担任现职。此前,铃木直树曾在Lupus alpha Asia、施罗德投资、瑞银资产管理、LTCB和F&C投资管理公司担任股票和房地产证券分析师及基金经理。他持有特许金融分析师(CFA)资格,并拥有东京大学法学学士学位。.
发言人
Makoto Sakuma
Asia Pacific Co-Head of Research and Strategy,
拉萨尔投资管理公司
Makoto Sakuma
Asia Pacific Co-Head of Research and Strategy,
拉萨尔投资管理公司
Makoto Sakuma is Asia Pacific Co-Head of Research and Strategy and focuses primarily on Japanese real estate markets and on sharing global market insights with Japanese investors.
Makoto rejoined LaSalle in 2025, after a previous stint at the firm from 2019 to 2020, during which he specialized in investment strategy and research for the Japanese and South Korean real estate markets. Before rejoining LaSalle, Makoto was Senior Researcher at NLI Research Institute and held roles at Sumitomo Mitsui Trust Bank and INPEX Corporation.
Makoto gained his PhD in Policy and Planning Sciences from University of Tsukuba and also holds a Bachelor of Economics from Osaka University.
发言人
鸟居宏
高级分析师、董事总经理、股票研究
SMBC日兴证券股份有限公司.
鸟居宏
高级分析师、董事总经理、股票研究
SMBC日兴证券股份有限公司.
大和総研、大和证券SMBCを経て2010年より现职。20年近くにわたりJ-REIT市场の调查・分析に従事。机构投资者志「全日本研究」团队」REIT部门で2012~22年で11年连続1位。日経ヴェリタsu志「anarisutorankingu」REIT部门で2016~ 2022年で7年连続1位。 一般社団法人不动产证券化协会认定マsuター。 一般社団法人不动产证券化协会资格教育小委员会分科会委员。
小组成员
Yuma Kawatsuji
总统
GLP Japan Advisors Inc.
Yuma Kawatsuji
总统
GLP Japan Advisors Inc.
小组成员
Keita Araki
President & Representative Director
KJR Management
Keita Araki
President & Representative Director
KJR Management
Keita Araki appointed President & Representative Director of KJR Management in February 2025. Prior to his appointment, he served as Executive Officer and General Manager of Metropolitan Division of the company for almost 10 years, contributing to
the growth of the Japan Metropolitan Fund Investment Corporation. He joined KJR Management (formerly Mitsubishi Corp.-UBS Realty Inc.) in 2003. After serving as Head of Asset Management Department, he was appointed Executive Officer and
Head of Retail Division in 2015 and Executive Officer and Head of Metropolitan Division in 2021. He led the merger of Japan Retail Fund Investment Corporation and MCUBS MidCity Investment Corporation. He was appointed Executive Officer and
Head of Metropolitan Division in March 2021. After the merger, he led the development of Japan Metropolitan Fund Investment Corporation by implementing various strategies, including the asset replacement of 200 billion yen. In 1992, he joined
Nomura Real Estate Development Co., Ltd., working in a Housing Sales Division, International Division, and Corporate Sales Department. He received a B.A. from Waseda University School of Law. He is a real estate appraiser.
小组成员
Masaya Sato
总裁兼首席执行官
Kasumigaseki REIT Advisors Co., Ltd.
Masaya Sato
总裁兼首席执行官
Kasumigaseki REIT Advisors Co., Ltd.
Masaya Sato is President and CEO of Kasumigaseki REIT Advisors Co., Ltd., and also serves as Executive Officer of Kasumigaseki Hotel REIT, Inc. In 2023, he joined Kasumigaseki Capital Co., Ltd. as Executive Officer (Head of the REIT Preparation Office), where he led the launch of a listed REIT.
Masaya began his career in real estate appraisal at Tanizawa Sogo Appraisal Co., Ltd. He has spent many years engaged in real estate investment and asset management at Grosvenor Fund Management Japan, and Diamond Realty Management.
He has extensive experience across a wide range of areas, including appraisal, investment analysis, investor relations (IR), and the acquisition, management, and disposition of assets. He has a proven track record in investing in and managing diverse asset types such as hotels, offices, logistics, and retail properties.
He holds a graduate degree from the Graduate School of Finance at Waseda University.
主持人
鸟居宏
高级分析师、董事总经理、股票研究
SMBC日兴证券股份有限公司.
鸟居宏
高级分析师、董事总经理、股票研究
SMBC日兴证券股份有限公司.
大和総研、大和证券SMBCを経て2010年より现职。20年近くにわたりJ-REIT市场の调查・分析に従事。机构投资者志「全日本研究」团队」REIT部门で2012~22年で11年连続1位。日経ヴェリタsu志「anarisutorankingu」REIT部门で2016~ 2022年で7年连続1位。 一般社団法人不动产证券化协会认定マsuター。 一般社団法人不动产证券化协会资格教育小委员会分科会委员。
发言人
Junichi Yoshimura
Deputy General Manager, Real Estate Finance Department,
Mizuho Bank
Junichi Yoshimura
Deputy General Manager, Real Estate Finance Department,
Mizuho Bank
小组成员
万野雅文
副主席
APREA日本分会
总裁兼首席执行官
钻石房地产管理公司.
万野雅文
副主席
APREA日本分会
总裁兼首席执行官
钻石房地产管理公司.
他于 1993 年 4 月加入三菱商事株式会社,30 多年来一直从事国内外金融、房地产和城市开发项目。2007 年 4 月起,他被借调到钻石房地产管理公司(DREAM)工作五年,担任执行副总裁兼业务规划部部长。回到三菱商事后,他于 2012 年 8 月被调到纽约州的 MC 金融服务有限公司,担任执行副总裁,并于次年担任康涅狄格州 MC 资产管理控股有限责任公司的常务董事、业务开发负责人兼首席运营官。回国后,自 2016 年 5 月起,他一直在三菱商事的产业金融、物流与开发集团、城市开发集团和城市开发与基础设施集团推进国内外业务。2025 年 4 月,他被调回 DREAM,担任总裁兼首席执行官。.
小组成员
Takayuki Higashi
Director and COO, Head of Private REIT Department
Kenedix房地产基金管理公司.
Takayuki Higashi
Director and COO, Head of Private REIT Department
Kenedix房地产基金管理公司.
Takayuki Higashi was appointed Head of Private REIT Department at Kenedix Real Estate Fund Management, Inc. in February 2026 and subsequently appointed Director and COO in March 2026. He oversees the operations of Kenedix Private Investment Corporation.
He joined Kenedix in 2007, and has played a key role in the growth of Kenedix Private Investment Corporation, leading the asset management and investment teams for the private REIT since 2019.
Prior to joining Kenedix, Takayuki began his career in Recruit Building Management Corporation in 1999. Since then, he has been engaged in tenant leasing, real estate brokerage and the real estate fund business.
He has over 25 years of experience in the real estate investment industry.
小组成员
Katsuhiro Matsunami
总统
JINUSHI Asset Management Co., Ltd.
Katsuhiro Matsunami
总统
JINUSHI Asset Management Co., Ltd.
Katsuhiro Matsunami has served as Representative Director and President of JINUSHI Asset Management Co., Ltd. since February 2025. And as Executive Officer of JINUSHI Private REIT Investment Corporation since March 2025.
He joined JINUSHI Co., Ltd. (formerly Nippon Commercial Development Co., Ltd.) in 2019 and was subsequently seconded to JINUSHI Asset Management Co., Ltd.
Prior to joining JINUSHI, he joined Mitsubishi Corp.-UBS Realty Inc. (currently KJR Management Co., Ltd.) from 2011, where he was responsible for real estate investment operations for mainly Japan Retail Fund Investment Corporation (currently Japan Metropolitan Fund Investment Corporation). Earlier in his career, he joined Nomura Real Estate Development Co., Ltd. in 2007 and was seconded to Nomura Real Estate Investment Management Co., Ltd. (currently Nomura Real Estate Asset Management, Inc.). In this role, he was primarily engaged in real estate investment activities across multiple sectors, including commercial properties and restructuring CMBS cases. He began his professional career in 2005 at Sumitomo Trust & Banking Co., Ltd. (currently Sumitomo Mitsui Trust Bank, Limited), where he was involved in brokerage and consulting services for real estate transactions.
主持人
竹内龙太
日本资本市场执行董事兼主管
仲量联行.
竹内龙太
日本资本市场执行董事兼主管
仲量联行.
竹内龙太先生负责仲量联行(JLL)在日本的资本市场平台,并与公司遍布全球的资本市场团队合作,促进日本商业地产市场的投资机会,并为日本国内资本所有者提供海外投资咨询服务。加入仲量联行之前,竹内先生曾任三菱商事旗下全球房地产投资机构Diamond Reality Management Incorporated的总裁兼首席执行官。在2021年至2023年期间,竹内先生在三菱商事担任此职,负责管理日本及其他全球市场超过1000亿美元(480亿美元)的私募房地产投资信托基金(REITs)和私募股权基金。竹内先生于1996年加入三菱商事,曾担任多个领导职务,包括城市发展集团执行管理及战略规划办公室主任、欧洲MC资产管理公司董事总经理兼首席执行官。他还曾担任瑞银集团与三菱商事合资成立的私募股权基金公司——瑞银-三菱商事普通合伙人有限公司(UBS-PREMF Limited)的联席首席执行官。.
APREA 致力于使我们的活动对环境更加负责。我们与我们的活动合作伙伴、场地和供应商密切合作,将可持续发展融入到我们在整个地区的聚会的计划和执行方式中。我们的目标是不断减少对环境的影响,并在整个房地产行业推广负责任的做法。.
我们在活动中采取的主要可持续发展措施包括
通过这些步骤,我们的目标是使 APREA 的每一项活动都反映出我们对建立一个更负责任、更具复原力的行业的广泛承诺。.
Kemmu Kawai 于 2022 年 9 月加入 Longevity Partners Japan,担任国家总监。他常驻东京,负责日本、亚太地区及其他地区的所有业务和活动。他拥有超过 16 年的金融从业经验,专门从事房地产和信贷投资。在加入 Longevity Partners 之前,他曾在 Norinchukin 银行担任投资组合经理,并在 Center Point Development 担任投资经理。.
Kemmu Kawai
常务董事
长寿伙伴