External certifications, consent with initiatives, and ESG data collection
Policy on acquiring external certifications
JLF actively pursues ESG activities. Based on the belief it is important to obtain objective evaluations and certifications of its activities, JLF aims to obtain certifications.
Participation in the GRESB Real Estate Assessment
Assessment Result of GRESB
In the 2024 GRESB Real Estate Assessment, JLF received the highest rank “five Stars” in GRESB Rating, which is based on GRESB Overall Score and its quintile position relative to global participants. It also received a Green Star for the seventh consecutive year by achieving high performance both in “Management Component” that evaluates policies and organizational structure for ESG promotion, and “Performance Component” that assesses environmental performance and tenant engagement of properties owned.
Consent with initiatives
Principles for Responsible Investment (PRI)
MLP, the asset manager of JLF, agreed with the basic philosophy of PRI and became a signatory organization in August 2021 as MLP and in April 2024 as Mitsui & Co. Asset Management Holdings Group (including MLP).
* Principles for Responsible Investment (PRI): Investment principles advocated to the finance industry by then Secretary General of the United Nations in 2006. PRI sets forth the principles necessary to fulfill ESG responsibilities through investment activities.
Obtaining of SBT Approval
JLF has set targets to reduce GHG emissions by the fiscal year ending March 2030. These targets are science-based targets following the goals of the Paris Agreement that “aims to keep the global average temperature well below 2°C above pre-industrial levels and pursue efforts to limit global warming to 1.5°C.” JLF has received the Science Based Targets (SBT) certification from the international SBT initiative in 2022.
Certification Details
| Item | Coverage | Base year | Target year | Target |
|---|---|---|---|---|
| GHG emissions（scope1+2） | All Properties | FY 2021 | FY 2030 | 42% reduction in total emissions |
| GHG emissions（scope3） | All Properties | FY 2021 | FY 2030 | Calculate and reduce total emissions |
ESG Data
Performance results
| Item | Unit | FY2023 | FY2024(*7) | increase/ decrease |
Percentage increase/ decrease |
|---|---|---|---|---|---|
| Total energy consumption | MWh | 62,610 | 61,519 | -1,091 | -1.74% |
| Electricity | MWh | 58,825 | 58,859 | +34 | +0.05% |
| Fuels | MWh | 3,785 | 2,660 | -1,125 | -29.71% |
| Renewable energy self-consumption | MWh | 369 | 537 | +168 | +45.52% |
| Utilization of renewable energy-derived electricity | MWh | 680 | 611 | -69 | -10.14% |
| Energy use intensity (*1) | MWh/㎡ | 0.041 | 0.041 | -0.000 | -0.71% |
| Non-fossil fuel certificate utilization | MWh | 1,501 | 1,513 | +12 | +0.78% |
| Item | Unit | FY2023 | FY2024(*7) | increase/ decrease |
Percentage increase/ decrease |
|---|---|---|---|---|---|
| Total Greenhouse gas emissions (*2) | t-CO2 | 24,983 | 26,146 | +1,163 | +4.65% |
| Total Greenhouse gas emissions intensity (*1) | t-CO2/㎡ | 0.016 | 0.017 | +0.001 | +5.74% |
| scope1 | t-CO2 | 0 | 0 | - | - |
| scope2 | t-CO2 | 623 | 650 | +27 | +4.33% |
| Non-fossil fuel certificate utilization(*3) | t-CO2 | 623 | 650 | +27 | +4.33% |
| Total CO2 emissions | t-CO2 | 0 | 0 | - | - |
| scope3 | t-CO2 | 24,360 | 25,496 | +1,136 | +4.66% |
| Non-fossil fuel certificate utilization(*3) | t-CO2 | 1 | 0 | -1 | -93.64% |
| Total CO2 emissions | t-CO2 | 24,359 | 25,496 | +1,137 | +4.66% |
| Item | Unit | FY2023 | FY2024(*7) | increase/ decrease |
Percentage increase/ decrease |
|---|---|---|---|---|---|
| Total water usage | ㎥ | 123,787 | 116,892 | -6,895 | -5.57% |
| Public drinking water | ㎥ | 121,708 | 114,475 | -7,232 | -5.94% |
| Recycling water | ㎥ | 2,079 | 2,416 | +337 | +16.20% |
| Water use intensity (*1) | ㎥/㎡ | 0.082 | 0.078 | -0.004 | -4.58% |
| Item | Unit | FY2023 | FY2024 (*7) | increase/ decrease |
Percentage increase/ decrease |
|---|---|---|---|---|---|
| Total weight of non-hazardous waste | t | 10,602 | 10,219 | -382 | -3.60% |
| Amount recycled | t | 7,879 | 7,751 | -128 | -1.62% |
| Recycle rate | ％ | 74.3 | 75.9 | +1.6 | +2.08pts |
| Item | Unit | FY2023 | FY2024(*7) |
| Number of properties (*4) | Properties | 53 | 55 |
| Floor area (*5) | ㎡ | 1,514,734 | 1,499,080 |
| Percentage of whole portfolio covered (*6) | % | 100 | 100 |
| Item | Unit | FY2023 | FY2024 |
| Area converted to LED lightings (*8) | ㎡ | 1,325,545 | 1,371,154 |
| Annual savings by LED lightings (*9) | kWh | 135,480 | 328,875 |
| Item | Unit | FY2023 | FY2024 |
| Renewal of air-conditioning equipment (*10) | units | 33 | 31 |
| Item | Unit | FY2023 | FY2024(*7) |
| Installation of photovoltaic panels (*11) | Properties | 12 | 14 |
| Annual solar power generation (*12) | kWh | 6,262,701 | 6,298,091 |
| Item | Unit | FY2023 | FY2024 |
| Number of tenants with green leases (*11) | Properties | 48 | 55 |
| Percentage of Green lease area in portfolio (*11) | % | 69.5 | 73.3 |
- Intensity = Consumption / Total floor area under the Building Standard Law (adjusted by occupancy rate)
- Calculated based on the Act on Promotion of Global Warming Countermeasures (“Global Warming Countermeasures Act”). For the emission factors, the actual emission factors provided for in the Ministerial Order on Calculation of Greenhouse Gas Emissions from Business Activities of Specified Emitters are checked every year.
- The amount of non-fossil certificates purchased is prioritized for the deduction of scope1 and scope2, and if there is a surplus, it is deducted for scope3. 1,501MWh, 624 t-CO2 of non-fossil certificates purchased in FY2023 and 1,513MWh, 650 t-CO2in FY2024. The national average emission factor is used to convert the amount of non-fossil certificates purchased into t-CO2.
- Include properties acquired or sold within the fiscal year.
- Calculated based on the total floor area under the Building Standard Law after taking into account the occupancy rate and taking co-ownership into account.
- Total gross total floor area under the Building Standard Law after taking co-ownership into account in the subject property.
- Figures for FY2024 are calculated based on the information provided in the "Environmental Performance Data Independent Verification Report" and "Greenhouse Gas Emissions Independent Verification Report (Limited Assurance)".
- As of January 31
- Due to construction work implemented from February 1 through January 31.
- Track record (from February 1 through January 31)
- As of March 31
- Annual power generation figures are those that could be measured.
A limited assurance has been obtained from a third-party institution (by Japan Audit and Certification Organization for Environment and Quality) with regard to the following “Environmental information (details)”, which served as the basis for the above “ Performance Results”.
Environmental Performance Data Independent Verification Report
Greenhouse Gas Emissions Independent Verification Report (Limited Assurance)
Status of green building certification
Percentage of portfolio with green building certification
(as of July 31, 2025)
| Type of certification | Number of properties | total floor area under the Building Standard Law (㎡) | Percentage of portfolio (by area) |
|---|---|---|---|
| Certification for CASBEE for Real Estate | 50 | 1,487,349.31 | 98.2% |
| BELS Certification | 25 | 716,850.89 | 47.3% |
| CASBEE Certification for Buildings (New Construction) | 1 | 41,968.06 | 2.8% |
| Percentage of portfolio with green building certification | 51 | 1,498,004.77 | 98.9% |
- Some properties have multiple certifications, so the total of the figures for each certification does not equal the figure for the "Percentage of portfolio with green building certification".
Properties with Certification
(As of Jul. 31, 2025)
| Name | Acquisition Price (million yen) |
|||
|---|---|---|---|---|
| CASBEE for Real Estate |
BELS | |||
| M-2 Urayasu Logistics Center | 8,745 | S | ★★★★★ | ZEB Ready |
| M-3 Hiratsuka Logistics Center | 1,466 | A | ||
| M-4 Shinkiba Logistics Center | 2,454 | A | ||
| M-5 Urayasu Chidori Logistics Center | 6,000 | A | LEVEL6 | ZEB Ready |
| M-6 Funabashi Nishiura Logistics Center | 5,700 | A | ★★★★★ | ZEB Ready |
| M-8 Kawasaki Logistics Center | 10,905 | A | ||
| M-9 Narashino Logistics Center | 1,690 | A | ||
| M-11 Yachiyo Logistics Center | 7,892 | S | ★★★★★ | ZEB Ready |
| M-12 Yokohama Fukuura Logistics Center | 9,800 | A | ||
| M-13 Yachiyo Logistics Center II | 5,300 | A | ★★★★★ | ZEB Ready |
| M-15 Ichikawa Logistics Center | 4,550 | A | ★★★★★ | |
| M-16 Shinonome Logistics Center | 11,800 | A | ||
| M-17 Narashino Logistics Center II | 9,119 | A | ★★★★★ | ZEB Ready |
| M-18 Ichikawa Logistics Center II | 13,932 | A | ||
| M-19 Souka Logistics Center | 14,440 | A | ★★★★★ | ZEB Ready |
| M-20 Tatsumi Logistics Center | 9,000 | B+ | ||
| M-21 Kashiwa Logistics Center | 3,725 | A | ★★★★★ | ZEB Ready |
| M-22 Musashimurayama Logistics Center | 8,650 | A | ★★★★★ | ZEB Ready |
| M-23 Kashiwa Logistics Center II | 3,795 | A | ||
| M-24 Shin-Koyasu Logistics Center | 9,696 | A | ||
| M-25 Misato Logistics Center | 3,873 | A | ||
| M-26 Sagamihara Logistics Center | 8,032 | A | ★★★★★ | ZEB Ready |
| M-27 Chiba-kita Logistics Center | 1,459 | A | ★★★★★ | ZEB Ready |
| M-28 Chiba-kita Logistics Center II | 4,608 | A | LEVEL6 | ZEB Ready |
| M-29 Urayasu Chidori Logistics Center III | 1,053 | A | LEVEL6 | ZEB Ready |
| M-30 Zama Logistics Center | 1,728 | A | ★★★★★ | ZEB Ready |
| M-31 Shinkiba Logistics Center II | 15,270 | A | ||
| M-32 Yokohama Machida Logistics Center | 25,452 | A | ||
| M-34 Shiroi Logistics Center | 3,875 | A | ★★★★★ | ZEB Ready |
| M-35 Toda Logistics Center | 2,052 | A | ||
| M-36 Ichikawa Logistics Center III | 3,850 | B+ | ||
| M-37 Fujisawa Logistics Center | 4,305 | S | ★★★★★ | ZEB Ready |
| M-38 Hanyu Logistics Center | 1,705 | A | ||
| M-39 Saitama Kisai Logistics Center | 4,010 | A | ||
| M-40 Kazo Logistics Center | 3,790 | A | ||
| M-41 Kuki Logistics Center | 8,577 | S | ★★★★★ | ZEB |
| M-42 Itabashi Logistics Center | 4,105 | A | ★★★★★ | |
| T-1 Daito Logistics Center | 9,762 | A | ||
| T-2 Osaka Fukuzaki Logistics Center | 4,096 | S | ||
| T-3 Kiyosu Logistics Center | 3,010 | A | ★★★★★ | ZEB Ready |
| T-4 Kadoma Logistics Center | 989 | A | LEVEL6 | ZEB Ready |
| T-7 Fukuoka Hakozaki Futo Logistics Center | 2,797 | A | ★★★★★ | |
| T-9 Fukuoka Kashiihama Logistics Center | 2,750 | A | ||
| T-10 Kasugai Logistics Center | 3,500 | A | ★★★★★ | ZEB Ready |
| T-11 Takatsuki Logistics Center | 1,560 | A | ||
| T-12 Aisai Logistics Center | 2,510 | A | ★★★★★ | ZEB Ready |
| T-13 Osaka Nishiyodogawa Logistics Center | 2,600 | A | ||
| T-16 Kitanagoya Logistics Center | 5,300 | S | ||
| O-1 Maebashi Logistics Center | 1,230 | A | ||
| O-5 Sendaiko-kita Logistics Center | 1,600 | LEVEL5 | ||
| O-6 Ishikari Logistics Center | 1,311 | A/A/B+ | ||
| Total | 289,422 | |||
- Figures are rounded down to the nearest million yen.
Green Bond
| Amount (million yen) |
Interest Rate | Issuance Date | Redemption Date | Description | Assets to be appropriated | |
|---|---|---|---|---|---|---|
| 7th Unsecured Bond (with special pari passu conditions among the specified investment corporation bond) (Green Bonds) |
2,000 | 0.490% | Apr. 26, 2021 |
Apr. 25, 2031 |
Non-collateralized Non-guaranteed |
Yokohama Machida Logistics Center |
| Total | 2,000 |
Green Loan
| Lender | Amount (million yen) |
Interest Rate | Borrowing Date |
Repayment Date |
Description | Assets to be appropriated |
|---|---|---|---|---|---|---|
| The Norinchukin Bank （Green Loan） |
1,000 | 0.43% | Aug. 31, 2021 |
Aug. 31, 2029 |
Non-collateralized Non-guaranteed |
Souka Logistics Center |
| Nippon Life Insurance Company （Green Loan） |
2,000 | 0.32% | Aug. 31, 2021 |
Jan. 31, 2027 |
Non-collateralized Non-guaranteed |
Yokohama Machida Logistics Center |
| Nippon Life Insurance Company （Green Loan） |
1,000 | 0.68% | Aug. 31, 2022 |
Aug. 31, 2030 |
Non-collateralized Non-guaranteed |
Tatsumi Logistics Center |
| Tokio Marine & Nichido Fire Insurance Co., Ltd. （Green Loan） |
2,000 | 0.41% | Aug. 31, 2022 |
Feb. 28, 2027 |
Non-collateralized Non-guaranteed |
Yokohama Machida Logistics Center |
| SBI Shinsei Bank, Limited （Green Loan） |
1,000 | 0.82% | Sep. 30, 2022 |
Sep. 30, 2030 |
Non-collateralized Non-guaranteed |
Shinkiba Logistics Center Ⅱ |
| The Norinchukin Bank （Green Loan） |
1,000 | 0.82% | Nov. 30, 2022 |
May. 31, 2030 |
Non-collateralized Non-guaranteed |
Yokohama Fukuura Logistics and others |
| Nippon Life Insurance Company （Green Loan） |
500 | 1.13% | Feb. 28, 2023 |
Aug. 31, 2032 |
Non-collateralized Non-guaranteed |
Kashiwa Logistics Center |
| The Norinchukin Bank （Green Loan） |
1,000 | 1.18% | Feb. 28, 2023 |
Feb. 29, 2032 |
Non-collateralized Non-guaranteed |
Kashiwa Logistics Center |
| Sumitomo Mitsui Trust Bank, Limited （Green Loan） |
1,500 | 1.05% | Dec. 27, 2023 |
Jun. 30, 2030 |
Non-collateralized Non-guaranteed |
Shin-Koyasu Logistics Center |
| Nippon Life Insurance Company （Green Loan） |
500 | 1.14% | Dec. 27, 2023 |
Jun. 30, 2033 |
Non-collateralized Non-guaranteed |
Shin-Koyasu Logistics Center |
| Nippon Life Insurance Company （Green Loan） |
2,500 | 1.23% | Feb. 29, 2024 |
Aug. 31, 2033 |
Non-collateralized Non-guaranteed |
Fukuoka Kashiihama Logistics and others |
| Sumitomo Mitsui Trust Bank, Limited （Green Loan） |
1,000 | 1.10% | Mar. 29, 2024 |
Mar. 31, 2031 |
Non-collateralized Non-guaranteed |
Sagamihara Logistics Center |
| Sumitomo Mitsui Trust Bank, Limited （Green Loan） |
3,500 | 1- month TIBOR +0.39% |
Mar. 26, 2025 |
Feb. 28, 2033 |
Non-collateralized Non-guaranteed |
Souka Logistics Center |
| Total | 18,500 |