ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has signed an agreement with Mitsui Fudosan Co., Ltd. (headquartered in Chuo, Tokyo; Takashi Ueda, President and CEO; hereinafter “Mitsui Fudosan”) on an alliance in the logistics real estate business. Following the merger of Advance Logistics Investment Corporation (hereinafter, “ADL”) and Mitsui Fudosan Logistics Park Inc. (hereinafter, “MFLP”) *¹, which are sponsored by ITOCHU and Mitsui Fudosan, respectively, the two sponsors will build a cooperative relationship and jointly promote real estate development with a focus on logistics and industrial real estate*².

In recent years, third-party logistics (3PL) businesses specializing in contract logistics have seen continued growth and demand for e-commerce has remained high. Moves to streamline logistics operation and restructure supply chains are increasingly active in manufacturing, retail, and other businesses, and demand for advanced logistics facilities is likely to grow steadily in the coming years.

Using its extensive sales channels and logistics networks unique to a general trading company, ITOCHU has developed numerous multitenant logistics facilities and build-to-suit (BTS) logistics facilities (custom-made for specific customers) in Japan with i Missions Parks (IMP) as its flagship brand. As the leading real estate developer in Japan, Mitsui Fudosan has undertaken various types of logistics facility development both in Japan and abroad with MFLP as its flagship brand and has engaged in digital transformation and innovation in logistics.

ITOCHU and Mitsui Fudosan will seek further collaboration in the industrial real estate sector, including logistics facilities, factories, and data centers, by combining the strengths of both sides as sponsors of MFLP after the merger.