Environmental

Environmental Initiatives

Climate Change

Our approach to climate change

In recent years, the frequent occurrence of extreme weather such as heat waves and heavy rains have had a tremendous impact on the environment and society, as well as lifestyles and corporate activities.
According to the most recent scientific opinion on climate change, The Sixth Assessment Report of the United Nations Intergovernmental Panel on Climate Change (IPCC AR6), there is no doubt that human influence has warmed the atmosphere, oceans, and land, and that widespread and rapid changes are occurring in the atmosphere, oceans, cryosphere, and biosphere, which are caused by human emissions of greenhouse gases.
It is hoped that frameworks for reducing greenhouse gases such as the 2015 Paris Agreement are accelerated, and initiatives addressing climate change are pursued as a responsibility to society by not only nations and governments, but also the private sector.
The Paris Agreement aims to suppress the rise in the earth’s average temperature to well below 2℃ and strives to contain the rise to 1.5℃. To achieve this goal, it aims to achieve a balance between the emission and absorption of man-made greenhouse gases in the latter half of this century. At COP27, the importance of achieving the 1.5°C target was included in the "Mitigation Work Plan," and countries are to strengthen their efforts to achieve the target. This could fundamentally alter the direction of social and economic activities for decades to come.
Under the Paris Agreement, the world’s nations are taking action toward a decarbonized society across the globe in the latter half of this century. At the same time that Japan and other major nations around the world are thoroughly implementing energy conservation and substantially expanding renewable energy, which are key to a decarbonized society for the world as a whole in the latter half of this century, nations are striving to achieve both economic growth and countermeasures against global warming. The world’s blue-chip companies are pioneering a variety of initiatives, recognizing the business risks and opportunities presented by climate change.
Such being the case, JLF and MLP strive to contribute to the shift toward a low-carbon society through initiatives including greenhouse gas reductions at the same time they adapt to natural disasters and other events resulting from climate change.
JLF and MLP have identified ESG materialities that JLF should address and have developed a recognition of how to address climate change.
To address climate change, detailed analysis has been performed and a strategy formulated, based on the TCFD recommendations.

＜Targets (KPI)＞

Expressing Support for TCFD (and participating in the TCFD Consortium)

In July 2021, Mitsui & Co., Logistics Partners Ltd. (MLP), JLF's asset manager, expressed its support for the TCFD recommendations and joined the TCFD Consortium, an organization of supporting companies in Japan, to promote collaboration, continuous improvement and dialog with investors and all stakeholders through the enhancement of information disclosures related to initiatives and policies related to climate change.

The TCFD is a Task Force on Climate-related Financial Disclosures established by the Financial Stability Board (FSB) to study the disclosure of Climate-related information and the involvement of financial institutions. Its recommendations have been released to the public to advocate the ascertainment and disclosure of governance, strategy, metrics and targets and risk management by corporations, given the severe risks to the global economy posed by climate change.

The TCFD Consortium is an integrated body of companies, financial institutions and other organizations that support TCFD that was established to deliberate on initiatives aimed at effective information disclosures by corporations and the appropriate use of such information disclosures by financial institutions and the like in investment decisions.

JLF and MLP promote risk management and conduct information disclosures related to climate change based on the TCFD recommendations.

As set forth in the Environmental Management System (EMS) under the advancement and supervisory body, the Sustainability Advancement Organization, ESG initiatives are reported to and discussed with the Sustainability Promotion Liaison Meeting and MLP’s President and CEO and Board of Directors, and initiatives to address climate change are run and managed within the Environmental Management System (EMS).

Governance

JLF's asset manager, MLP, has established Guidelines for ESG Initiatives, which sets forth matters related to the advancement of sustainability, including addressing climate change. Our Sustainability Promotion Liaison Meeting is run and managed by our Finance & IR Department, with our President & CEO as Supervisor of Sustainability Promotion. Regular meetings are held once every three months, in general, with participation from the President & CEO, Officers in Charge, Department Management Director and other department personnel. There, participants review the Sustainability Policy and Goals and various sustainability initiatives considering circumstances in society and the state of operations at JLF.
Moreover, the Sustainability Promotion Liaison Meeting identifies ESG materialities, establishes and manages KPIs (action plans and targets), and reports to the Board of Directors.
Please refer to Sustainability Management for more information on the organization for advancing sustainability (including measures to address climate change), including an overview of the Sustainability Promotion Liaison Meeting.

Strategies

JLF and MLP identify risks and opportunities accompanying climate change, build an organization capable of conducting scenario-based analysis and reviews risks and opportunities annually. In doing so, JLF and MLP have divided the analysis into scenarios assuming a 1.5℃ temperature rise and a 4℃ rise to incorporate uncertainties arising from the progression of climate change into business strategies.

Details of the scenario analysis conducted by JLF in March 2024 can be found below.

＜Scope of the scenario analysis＞
Covers all properties owned by JLF.

＜Scenarios considered＞

	Publishing institution or organization	1.5℃ scenario	4℃ scenario
Transitional risks	IEA (International Energy Agency)	IEA World Energy Outlook2023 NZE	IEA World Energy Outlook2023 STEPS
Physical risks	IPCC	IPCC AR6 SSP1-1.9	IPCC AR6 SSP5-8.5

＜Scenario-based world view according to JLF and MLP＞

【1.5℃ scenario】

Under the 1.5℃ scenario, stringent regulatory and tax policies and the like are implemented to achieve a decarbonized society. As a result, emissions of greenhouse gases are on a declining trend and temperatures rise 1.5℃ compared to levels seen before the industrial revolution.

The introduction of an expensive carbon tax in Japan, aimed at suppressing CO2 emissions, results in taxes on CO2 emissions from portfolio properties. Additionally, stronger environmental regulations such as energy conservation standards lead to higher operating costs, such as renovations for compliance. Moreover, stronger regulations drive tenants to be more selective about the properties they occupy, leading to a decline in demand for properties with poor energy conservation performance compared to the competition. Furthermore, owners who possess many such properties may face higher fund-raising costs from investors and lenders. Meanwhile, increased frequency and intensity of damage due to climate change will be contained to a certain extent, keeping physical risks relatively low.

【4℃ scenario】

Under the 4℃ scenario, stringent regulatory and tax policies and the like are not implemented to address climate change. As a result, emissions of greenhouse gases continue to rise, and temperatures rise 4℃ compared to levels seen before the industrial revolution. Intensifying natural disasters, rising sea levels and increasingly severe weather cause an increase in property repair and maintenance costs, and the rise in average temperatures increases utilities expenses. These and other factors cause physical risks to rise, and products and services with superior BCP support enjoy increased competitiveness. Meanwhile, transitional risks remain low as governments fail to strengthen regulations.

＜Climate-related risks/opportunities and response measures＞

		Drivers related to real estate operations	Financial impact on JLF (JLF's challenges)	Timeline	Risk management, measures and initiatives (Strategy: Opportunities and direction)	KPI／KPIs and Targets	Financial Impact 4℃/1.5℃
Transitional risks	Policy and Legal	・Strengthened energy regulations (including reporting mandates) ・Possible introduction of carbon tax (carbon pricing)	・Increased business expenses from introduction of facilities to support reporting, payments to third-party vendors, etc. ・Increased costs from complying with future regulations, including renovation work and the introduction of renewable energy ・Increased tax burden in connection to property greenhouse gas emissions	Medium term	・Strengthen engagement with tenants and PM companies to support compliance with energy regulations ・Study matters such as energy conservation, power generation and switching power sources to reduce greenhouse gas emissions	・scope 1.2 GHG emission reduction targets: – 42% reduction by FY2030 (compared to FY2021) - Net zero by FY2050 ・Conduct an ESG study session for all tenants (Once each year) ・Conduct an ESG study session for all PM companies (Once each year)	small impact	large impact
	Techology	・Delays in responding to the evolution in and adoption of renewable-energy and energy-conservation technologies and resulting loss of property competitiveness	・Declining rental revenue due to relative underperformance in rent pricing and increased vacancy rates	Medium term	・Study introduction of high environmental-performance facilities to bolster property competitiveness	・Consider energy conservation measures when acquiring external certifications	small impact	large impact
	Market	・Lower tenant demand and asset values at facilities with low environmental performance	・Lower rental revenue, NOI and asset values due to falling rents and rising vacancy rates at facilities with low environmental performance	Short term	・Promote the introduction of green leases from the perspective of both operations and facility improvements to contribute to the environment through collaboration with tenants.	・Implement green leases in 70% of portfolio by FY2024. ・Implement green leases in 70% of portfolio by FY2025. *Medium- to long-term targets when set for FY2023 ・Exchange opinions on ESG with all tenants (Once each year)	middle impact	large impact
	Reputation	・Deterioration in procurement terms for market participants that have not responded to climate change risks	・Increased fund-raising costs due to climate risks	Short term	・Study green finance and the like to leverage increased investment opportunities from institutional investors who focus on ESG investing	・Acquire green building certifications in 90% of portfolio by FY2024 - 90% of the total number of environmental performance evaluation certifications (CASBEE, etc.) acquired - 45% of the total number of energy conservation performance evaluation certification (BELS, etc.) acquired ・Acquire green building certifications in 90% of portfolio by FY2025. *Medium- to long-term targets when set for FY2023	middle impact	large impact
Physical risks	Acute	・Risk of damage from intensifying typhoons and flooding	・Higher repair and maintenance costs and insurance premiums ・Increased rental opportunity losses due to building destruction or damage	Short term	・Strengthen BCP support to enhance property competitiveness	・Implement 1 initiative related to business continuity planning (BCP)	large impact	middle impact
	Chronic	・Risk of damages from changes to meteorological patterns and rising sea levels, etc.	・Occurrence of large-scale renovation costs ・Higher repair and maintenance costs resulting from increased operational burden from HVAC equipment	Medium term	・Implement planned repairs and maintenance at properties in response to changing meteorological patterns to enhance property competitiveness	same as above	middle impact	middle impact

Strategy (including opportunities) given the scenario analysis

Under the 1.5℃ scenario, in the absence of investments aimed at improving property environmental performance, there is risk of a declining market presence and increasing impact on asset operations, such as tenant departures. Therefore, study ways to source renewable energy, such as switching existing power supply agreements and purchasing green energy certificates. Also, aim to enhance energy efficiency through energy conservation, energy generation, and the like.

Meanwhile, under the 4℃ scenario, real estate with greater resilience against damage from intensifying severe weather events would enjoy enhanced competitiveness. JLF believes the properties owned by JLF possess competitiveness in terms of safety and countermeasures against damage. Therefore, continue current initiatives while raising the bar even higher to maintain and enhance competitiveness in the market and increase business resilience.

Risk management

JLF and its asset manager, MLP, recognize climate-related risks as risks related to addressing global warming. Therefore, the President and CEO and the rest of the Sustainability Promotion Liaison Meeting identify climate-related risks and discuss matters including how to manage those risks.
The due diligence process when considering new asset acquisitions encompasses various studies of climate-related risks as a basis for deliberations at the investment committee and eventual investment decision at the Board of Directors. Specifically, water submersion levels according to various hazard maps are investigated in connection with the possibility of flooding or water submersion at the target property. Also, post-acquisition the Sustainability Promotion Liaison Meeting manages and monitors overall risk related to sustainability, including climate change risks.
Based on the risk management rules overseen by the Board of Directors, MLP annually identifies, monitors and evaluates risks in each workflow of each department and reports status thereof to the Board of Directors as appropriate. In connection with climate-related risks, risk categories are selected and evaluated in accordance with the workflows of each department, and risk mitigation measures are studied as necessary.

Measures and targets

・Initiatives aimed at mitigating risk or realizing opportunities are, to the extent possible, assigned KPIs. Monitoring and goal-setting takes place to manage these KPIs. Moreover, additional KPIs are studied where necessary to adopt to or mitigate climate change.
・See below for targets and actual performance related to KPIs for greenhouse gas emissions.

＜Greenhouse gas reduction targets＞

＜Actual greenhouse gas emissions＞

Item	Unit	FY2022	FY2023	increase/ decrease	Percentage increase/ decrease
Total Greenhouse gas emissions (*1)	t-CO2	27,958	24,983	-2,975	-10.64%
Total Greenhouse gas emissions intensity (*2)	t-CO2/㎡	0.019	0.016	-0.002	-12.32%
scope1	t-CO2	0	0	0	-
scope2	t-CO2	753	623	-130	-17.26%
Non-fossil fuel certificate utilization	t-CO2	753	623	-130	-17.26%
Total CO2 emissions	t-CO2	0	0	0	-
scope3	t-CO2	27,205	24,360	-2,845	-10.45%
Non-fossil fuel certificate utilization	t-CO2	10	1	-9	-88.95%
Total CO2 emissions	t-CO2	27,195	24,359	-2,836	-10.42%

• 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. scope 3 aggregates category 13.
• Intensity = Consumption / Total floor area under the Building Standard Law (adjusted by occupancy ratio)
• 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. 762 t-CO2 of non-fossil certificates purchased in FY2022 and 624 t-CO2in FY2023. The national average emission factor is used to convert the amount of non-fossil certificates purchased into t-CO2.
• The figures for each year are calculated based on co-ownership.

Responding to transitional risks

I.Energy saving

Replace existing lighting equipment with LED lightings to save energy and extend lighting lifetimes. When replacing lighting equipment, JLF shares the estimates of expected energy savings with its tenants in advance. In some cases, an agreement is executed where JLF receives a portion of the savings in electricity charges as rental income.
JLF intends to promote the use of LEDs in the properties it owns, and the initial target of 80% has been achieved. Going forward, JLF aims to maintain the 80% LED conversion by FY2030, and will continue to promote initiatives to improve environmental performance from the time of acquisition.

(1) Installation of a variety of LED lighting equipment

(As of January 31, 2024)

Area converted to LED lightings	Annual savings*
1,325,544.78㎡ (82.9% of the portfolio)	115,304Wh

• Due to construction work implemented in the fiscal period ended January 31, 2024

(2) Renewal of air-conditioning equipment

JLF endeavors to save energy by upgrading to the latest, energy-efficient HVAC systems.
Track record (August 1, 2023, through July 31, 2024)

Units upgrade
22 units (3.5% of the total number of units installed in owned properties)

II.Energy creation

Installation of photovoltaic panels

Rooftop solar panels are installed to generate power from renewable energy.
(Results for FY2023)

Solar installations	Annual power generation
12 properties	6,262,701kWh

• Annual power generation figures are those that could be measured.

ESG efforts with tenants and the conclusion of a green lease
Cooperation from tenants is essential for JLF to conserve energy in its portfolio properties.
ESG efforts with tenants and the conclusion of a green lease. JLF cooperates with tenants on its environmental efforts. In particular, JLF shares information on energy and water consumption with tenants and calls for energy saving, water saving, sorting and reduction of waste, and idling stop. In addition, JLF encourages tenant companies to raise their environmental awareness by working on the visualization of the amount of power generated by photovoltaic panels by setting up a dedicated tablet at a logistics facility in some properties it holds (Yokohama Machida).
JLF has also concluded a green lease with some tenants, which stipulate that both the building owner and the tenant shall make efforts to conserve energy and the environment, and maintain and improve the comfort of the property.

Percentage of Green leases implemented (as of March 31, 2024)

Number of tenants	Percentage of portfolio (by area)
48	69.5%

Percentage of ESG training sessions held for tenants (Results for FY2023)

Number of tenants	Percentage of portfolio (by area)
77	100%

Responding to physical risks

Greenification of buildings (mitigation of heat island phenomena)

Plants play an important role in mitigating heat island phenomena, with their ability to absorb CO2 and lower temperatures.
Greenification of buildings is said to be useful in mitigating heat island effects and contribute to containing the rise of atmospheric temperatures through effects including the reduction of sensible heat emitted from concrete structures and plant transpiration.
As part of its efforts to adopt to climate change, JLF pursues greenification. Greenification is being pursued actively on the building roofs and within the grounds of logistics facilities.

Flooding countermeasures

As a countermeasure against flooding during typhoons or sudden heavy downpours, JLF raises the land upon which development or redevelopment properties are to stand.
Additionally, JLF prevents flooding by raising the level of foundations for high-voltage stepdown transformer cubicles to help avoid electrical system failures in its logistics centers.

Disaster response and safety of buildings

The asset management company works to maintain the safety of buildings in peacetime and promotes efforts to prevent damage from expanding and quickly implements recovery when a disaster occurs.
JLF and its asset management company obtain engineering reports at the time of property acquisition, and conduct diagnostics on the legal compliance and safety of buildings. JLF also periodically obtains continuing engineering reports for properties owned, and strives to maintain the safety of its buildings.
In addition, the asset management company has established a business continuity plan and has established the necessary internal systems to prevent the spread of damage in the event of a disaster and to ensure business continuity and the early restoration of normal operations in the event of a disaster. Furthermore, a communication and confirmation system including property managers has been established to promptly confirm the status of properties owned in the event of a disaster.
Moreover, some of our properties are equipped with private power generation facilities that can be used in the event of a power outage, and toilets that can be used even in the event of a disaster by using private power generation and well water.

Resource circulation

Water saving

Basic Policy on Water Resources Management
JLF understands water resources and their sustainable use to be an essential element in JLF's business activities and their sustainability. In this context, JLF strives to minimize water use across its business activities by improving efficiency and reducing consumption. We have set a target of no increase in water use intensity compared to FY2018, and will promote water conservation efforts through ESG awareness activities for each tenant.

(1) Installation of water saving toilet facilities

JLF is committed to water conservation by upgrading to modern toilets and sinks with improved water efficiency.

Biodiversity

Facility greening (rooftop greening, wall greening, setup of greenbelt, protection of native species) By actively promoting green roofs, walls and zones on its logistics properties, JLF helps suppress temperature rise caused by heat island phenomena and improve visual aesthetics in the communities. JLF also contributes to biodiversity conservation by planting indigenous plant species.

Waste Management

JLF endeavors to minimize waste from properties in the portfolio through monitoring of waste volumes and appropriate management. We actively encourage JLF’s facility users to separate waste and promote recycling, and our target is to maintain a high level of waste recycling rates.

Soil contamination prevention and soil contamination countermeasures

JLF conducts soil contamination surveys when acquiring properties.
Furthermore, on joint developments pursued with partners, JLF has invested in urban brownfield development properties on joint projects with partners, ensuring that enough countermeasures have been implemented on the brownfield land.
For example, in a joint development project with a partner pursued in the Tokyo Metropolitan Area, the plot to be developed was formerly the site for a manufacturing plant, and chemical substances presumed to have been used at the plant were detected in the soil. Although the impact on human health would have been negligible, the level detected exceeded legally permissible levels. JLF confirmed that the landowner removed the chemical substances and land remediation was approved by a third party and the local municipality before moving forward with the development.
Soil contamination would have remained If the land were left idle, but JLF's pursuit of the property development together with its partner contributed to environmental improvement in the locality.

Green building commitment extends to existing buildings
(Policy on the Acquisition of Green Building Certifications, greenification of building)

JLF views the solving of environmental challenges such as climate change to be an important management challenge for JLF’s sustainable business activities and a business strategy aimed at realizing sustainability. That is why JLF invests in environmentally friendly properties (including development and redevelopment properties) and strives to enhance energy efficiency through the management of its portfolio by implementing environmentally friendly and energy-conservation measures. The aim is to build an environmentally friendly portfolio. To promote our efforts, JLF and MLP have set KPIs for environmentally friendly investment (including development and redevelopment) and management, such as the acquisition of green building certifications as a percentage of the portfolio.

Targets (KPI)

Acquiring green building certifications

Our target for acquisition of green certification on portfolio assets (as a percentage of total floor area under the Building Standard Law) is as follows.

Type of certification	Target	Percentage of portfolio (by area)
Certification for CASBEE for Real Estate	By FY2024	90%
BELS Certification	By FY2024	45%

• KPI for FY2025 is the mid- to long-term target set in FY2023

Percentage of properties owned that have acquired green building certification (based on total floor area under the Building Standard Law) is as follows.

Percentage of portfolio with green building certification (as of October 1, 2024)

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	42	1,213,348.74	80.6%
BELS Certification	20	625,561.85	41.5%
CASBEE Certification for Buildings (New Construction)	1	41,968.06	2.8%
Percentage of portfolio with green building certification	46	1,320,588.72	87.7%

• 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".

Percentage of the top two ranks of green building certification (as of October 1, 2024)

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	39	1,143,056.75	75.9%
BELS Certification	20	625,561.85	41.5%
CASBEE Certification for Buildings (New Construction)	1	41,968.06	2.8%
Percentage of portfolio with green building certification	43	1,250,296.73	83.0%

• 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".
• The top two ranks are A rank to S rank in Certification for CASBEE for Real Estate, 4 stars to 5 stars in BELS certification, and A rank to S rank in CASBEE Certification for Buildings (New Construction).

Acquiring green building certifications in greenfield developments

In addition to redeveloping portfolio properties (OBR) itself, JLF also works with business partners to develop logistics facilities. Sometimes, those developments take place on unused land such as greenfield space. In such cases, JLF seeks to design environmentally friendly properties for development or redevelopment projects and acquire green building certifications.

Green building training and earning qualifications

Some asset manager employees are qualified as CASBEE evaluators. Furthermore, relevant department employees participate in study sessions and deepen their knowledge of green building certifications.

Percentage of greenified properties

100% of portfolio properties reside on greenified lots, and JLF and MLP plan to maintain that 100% as a medium- to long-term target out to 2030.

Environmental performance data coverage rate

JLF’s environmental performance data coverage rate is 100%, and JLF and MLP plan to maintain that 100% as a medium- to long-term target out to 2030.

Rate of conversion to LED lighting

JLF intends to promote the use of LEDs in the properties it owns, and the initial target of 80% has been achieved. Going forward, JLF aims to maintain the 80% LED conversion by FY2030, and will continue to promote initiatives to improve environmental performance from the time of acquisition.

Water Saving

JLF promotes water conservation initiatives through ESG awareness activities for each tenant, with the goal of keeping or decreasing water use intensity compared to FY2018.

Waste management

JLF actively encourages users of its facilities to sort and recycle waste, and aims to maintain a high waste recycle rate.

ESG educational activities for tenants

Cooperation from tenants who use JLF portfolio properties is essential to reduce the environmental burden. JLF believes there is room to further reduce the environmental burden of portfolio properties by enhancing environmental awareness among tenants who use water and electricity and treat waste.
Specifically, JLF and MLP distribute pamphlets and flyers about environmental awareness, and employees from MLP (JLF's asset manager) lead ESG study sessions for tenants.
As a medium- to long-term target out to FY 2030, MLP aims to target 100% of tenants every year with pamphlet distributions and ESG study sessions.

Summary of Certification

Certification for CASBEE for Real Estate

Certification for CASBEE for Real Estate

CASBEE is a method designed to comprehensively assess the environmental efficiency of buildings and promoted throughout Japan under the guidance of the Ministry of Land, Infrastructure Transport and Tourism. Certification for CASBEE for Real Estate is a system where third-party institutions examine and certify assessment results prepared in accordance with CASBEE for Real Estate. The certification rating is represented by the number of stars on a four-tier scale from five stars “★★★★★” (“S”) to two stars “★★” (“B”).

For details of CASBEE Certification, please refer to the following website.
* Website of CASBEE Certification:
https://www.ibec.or.jp/CASBEE/english/certificationE.htm

Properties with Certification for CASBEE for Real Estate

Certification	Property
S	M-11 Yachiyo Logistics Center
	M-37 Fujisawa Logistics Center
	T-2 Osaka Fukuzaki Logistics Center
A	M-3 Hiratsuka Logistics Center
	M-4 ShinKiba Logistics Center
	M-5 Urayasu Chidori Logistics Center
	M-6 Funabashi Nishiura Logistics Center
	M-9 Narashino Logistics Center
	M-12 Yokohama Fukuura Logistics Center
	M-13 Yachiyo Logistics Center II
	M-16 Shinonome Logistics Center
	M-17 Narashino Logistics Center II
	M-18 Ichikawa Logistics Center II
	M-19 Souka Logistics Center
	M-21 Kashiwa Logistics Center
	M-22 Musashimurayama Logistics Center
	M-23 Kashiwa Logistics Center II
	M-24 Shin-Koyasu Logistics Center
	M-25 Misato Logistics Center
	M-26 Sagamihara Logistics Center
	M-27 Chiba Kita Logistics Center
	M-28 Chiba Kita Logistics Center II
	M-29 Urayasu Chidori Logistics Center III
	M-30 Zama Logistics Center
	M-31 Shinkiba Logistics Center II
	M-32 Yokohama Machida Logistics Center
	M-34 Shiroi Logistics Center
	M-35 Toda Logistics Center
	M-38 Hanyu Logistics Center
	M-39 Saitama Kisai Logistics Center
	M-40 Kazo Logistics Center
	M-42 Itabashi Logistics Center
	T-3 Kiyosu Logistics Center
	T-7 Fukuoka Hakozaki Futo Logistics Center
	T-9 Fukuoka Kashiihama Logistics Center
	T-10 Kasugai Logistics Center
	T-11 Takatsuki Logistics Center
	O-1 Maebashi Logistics Center
	O-6 Ishikari Logistics Center No. 2 and No.7
B+	M-20 Tatsumi Logistics Center
	M-36 Ichikawa Logistics Center III
	T-5 Komaki Logistics Center
	O-6 Ishikari Logistics Center No. 10

BELS Certification

Overview about the BELS

BELS is a third party certification system in Japan that indicates the energy efficiency of buildings. Starting in April 2016, real estate companies (and others) are required to strive to display the energy efficiency of buildings based on the Act on the Improvement of Energy Consumption Performance of Buildings (“Building Energy Efficiency Act”). Specific indication method is stipulated in the guidelines for energy efficiency labels of buildings, BELS is evaluated based on the same guideline, and the assessment result is represented by a number of stars (one star “★” to five stars “★★★★★”), and after April 2024, seven levels (levels 0-6) will be indicated.
A Net Zero Energy Building (“ZEB”) is a building that aims at zero energy balance with considerably reduced annual energy consumption by saving as much energy as possible with better heat insulation, solar shading, natural energy and high-efficiency equipment, coupled with creating energy by photovoltaic power generation (or other energy generating methods), while maintaining a comfortable environment.
In addition, in the BELS certification system, it is possible to obtain certification under 4 levels (『ZEB』, Nearly ZEB, ZEB Ready, and ZEB Oriented).

For details about BELS and ZEB, please refer to the following:
*BELS (Japanese only): https://www.hyoukakyoukai.or.jp/bels/bels.html
*ZEB (Japanese only):http://www.env.go.jp/earth/zeb/index.html

Properties with BELS Certification

Certification	Property
Five Star 『ZEB』	M-41 Kuki Logistics Center
Five Star ZEB Ready	M-2 Urayasu Logistics Center
	M-6 Funabashi Nishiura Logistics Center
	M-11 Yachiyo Logistics Center
	M-13 Yachiyo Logistics Center II
	M-17 Narashino Logistics Center II
	M-19 Souka Logistics Center
	M-21 Kashiwa Logistics Center
	M-22 Musashimurayama Logistics Center
	M-26 Sagamihara Logistics Center
	M-27 Chiba-kita Logistics Center
	M-30 Zama Logistics Center
	M-34 Shiroi Logistics Center
	M-37 Fujisawa Logistics Center
	T-3 Kiyosu Logistics Center
	T-10 Kasugai Logistics Center
	T-12 Aisai Logistics Center
Five Star	M-15 Ichikawa Logistics Center
	M-42 Itabashi Logistics Center
	T-7 Fukuoka Hakozaki Futo Logistics Center

CASBEE Certification for Buildings (New Construction)

Overview of CASBEE Certification for Buildings (New Construction)

A system for evaluating the overall environmental performance of a building. Evaluates and rates the environmental performance of buildings based on energy and resource conservation, recycling and other environmental burden reductions as well as interior comfort and landscaping.

The Certification Rank

Urayasu Logistics Center after redevelopment has acquired CASBEE-A rank under Certification for Buildings (New Construction).
In addition, Yachiyo Logistics Center after the redevelopment project and Ichikawa Logistics Center II, Yokohama Machida Logistics Center received an A rating under Certification for Buildings (New Construction) (the three properties currently expired as five years have passed from the date of acquisition).