Main source of income: Real estate rental

Top 3 markets:

1. Industrial and logistics properties: approx. 70%
2. Retail properties: approx. 20%
3. Office properties: approx. 10%

Japan Logistics Fund, Inc. generates the majority of its income from renting out industrial and logistics properties. These account for about 70% of revenue, highlighting the strong focus on the logistics sector. Retail properties contribute around 20%, while office properties make up the remaining 10%. This distribution reflects the company's strategic focus on the growing logistics market in Japan.

Japan Logistics Fund, Inc. (TSE:8967) is a real estate investment trust (REIT) specializing in logistics properties.

As a REIT, Japan Logistics Fund, Inc. does not produce physical products. Instead, the fund invests in logistics properties to generate rental income. The properties are mainly located in Japan, particularly in economically strong regions and near major transportation hubs to meet the demand for logistics space.

Current Strategy: Diversification and Expansion into Urban Logistics Centers

Japan Logistics Fund, Inc. (TSE:8967) pursues a strategy focusing on diversifying its portfolio and expanding into urban logistics centers. Given the increasing demand for e-commerce and the associated need for efficient supply chains, the company is increasingly investing in well-located logistics properties in urban areas.

Additionally, the company emphasizes sustainability and energy efficiency in its properties to achieve both ecological and economic benefits. This strategy is intended not only to enhance attractiveness for tenants but also to secure stable long-term income.

By combining strategic acquisitions and optimizing existing properties, Japan Logistics Fund, Inc. aims to strengthen its market position and ensure future growth.

Current data on imports: No specific data available for 2026.

General information:

Japan Logistics Fund, Inc. (TSE:8967) is a real estate investment fund specializing in logistics properties. As such, the fund itself does not import raw materials or materials. Instead, it invests in properties used by logistics companies that, in turn, import raw materials and materials.

Logistics companies in Japan typically import a variety of raw materials and materials, including:

• Electronics and machinery: Mainly from China, the USA, and South Korea.
• Vehicle parts: From countries like Germany and Thailand.
• Raw materials for production: Such as metals and chemicals, often from Australia and Indonesia.

Japan heavily relies on imports to support its industrial base. The main importing countries are China, the USA, Australia, and some Southeast Asian countries. These imports are crucial for supplying the Japanese industry and operating the logistics centers in which the Japan Logistics Fund invests.

Market share: Estimated 10-15% (2026, based on historical data and market analysis)

Real estate portfolio: Over 100 logistics properties (2026)

Occupancy rate: Over 98% (2025)

Japan Logistics Fund, Inc. (JLF) has a significant competitive advantage in the Japanese logistics real estate market. The fund benefits from an extensive and diversified real estate portfolio strategically positioned in key logistics centers in Japan.

The high occupancy rate of over 98% indicates strong demand for their properties, reflecting the quality and strategic location of the assets. Furthermore, the size and diversification of the portfolio enable risk mitigation and stable income.

JLF's ability to continuously invest in high-quality logistics properties and efficiently manage them further strengthens its market position. The fund is well positioned to benefit from the increasing demand in e-commerce and the associated logistics industry.

Institutional Investor Share: approx. 70% (estimated for 2026)

Insider Purchases/Sales: No significant transactions known (estimated for 2026)

The Japan Logistics Fund, Inc. traditionally has a high proportion of institutional investors, which is typical for real estate funds in Japan. These investors appreciate the stability and regular returns of such funds.

Insider transactions are less common with large real estate funds, as the shares are mostly held by institutional investors. In recent years, there have been no significant insider purchases or sales that would have an impact on the market.

Market share of Japan Logistics Fund, Inc.: Estimate: approx. 5-7% (2026)

Top competitors and their market share:

1. Nippon Prologis REIT, Inc. - approx. 15%
2. GLP J-REIT - approx. 12%
3. Mitsubishi Estate Logistics REIT Investment Corporation - approx. 10%
4. LaSalle LOGIPORT REIT - approx. 8%
5. Ichigo Office REIT Investment Corporation - approx. 6%
6. Japan Logistics Fund, Inc. - approx. 5-7%
7. Industrial & Infrastructure Fund Investment Corporation - approx. 5%
8. Kenedix Retail REIT Corporation - approx. 4%
9. Daiwa House REIT Investment Corporation - approx. 3%
10. United Urban Investment Corporation - approx. 2%

Moat of Japan Logistics Fund, Inc.:

Japan Logistics Fund, Inc. has a moderate moat, mainly attributed to its strategically located logistics properties and long-term lease agreements. These provide a certain level of income stability and predictability.

However, compared to its competitors, especially Nippon Prologis REIT and GLP J-REIT, Japan Logistics Fund has a less pronounced moat. These companies benefit from larger scale, a broader portfolio, and stronger international connections, giving them a competitive advantage.

Japan Logistics Fund could enhance its moat by investing in technology and sustainable logistics solutions to differentiate itself from the competition. Currently, the competition in the industry is intense, and many of the larger competitors have access to more extensive resources and networks.

Fund assets: JPY 300 billion (2025) Real estate portfolio: 50 logistics properties (2025) Average lease term: 6 years (2025)

Japan Logistics Fund, Inc. (TSE:8967) is one of the leading real estate funds in Japan, specializing in logistics properties. The fund assets amount to approximately 300 billion JPY, spread across 50 logistics properties, indicating strong diversification and risk mitigation.

The average lease term of 6 years provides a stable source of income and reduces the risk of vacancies. The demand for logistics properties in Japan remains high due to the ongoing growth in the e-commerce sector, which could have positive effects on rental prices and property performance.

Overall, Japan Logistics Fund, Inc. offers an attractive investment opportunity for investors interested in stable and long-term returns, especially in a market environment characterized by high demand for logistics spaces.

Dividend Yield: 3.5% (2025)
Dividend History: Continuous payouts since 2005

Japan Logistics Fund, Inc. (TSE:8967) is known for its reliable dividend payments. Since its establishment in 2005, the company has consistently distributed dividends, indicating a stable financial foundation and a solid business model.

The dividend yield was approximately 3.5% in 2025, which is considered attractive compared to other real estate funds. This reliability in payouts is a sign of strong operational performance and management's confidence in the company's future earnings potential.

Therefore, investors can expect Japan Logistics Fund, Inc. to continue maintaining a stable dividend policy in the coming years, provided there are no significant negative market changes.