Forum

Real Estate Finance Forum

Purpose

In recent years, Japanese financial institutions’ exposure to real estate-related risks has grown substantially. In addition to increasing the outstanding amount of housing loans and real estate investment loans, funds have flowing into the real estate market through a variety of routes such as lending to real estate investment trusts and investment in equities. Under such circumstances, there have been concerns both among government officials and at the Bank of Japan about potentially excessive inflows of funds into the real estate market.

At the same time, FY 2018 has been referred to as “year zero” of real estate investment, reflecting reports that public pension funds and the like are considering to start full-scale investment in real estate. In Japan, real estate investment trusts, so-called REITs, were first listed in 2001 and since then have grown to 15 trillion yen. The Ministry of Land, Infrastructure, Transport and Tourism has launched a policy of doubling the scale of REITs to 30 trillion yen. These sums mean that the market may change drastically with the inflow of funds from public pension and other funds.

In this forum, we invite domestic and overseas experts on real estate investment (from the United States, Singapore, Europe) to hold discussions in a round table format.

Members (as of 2017)

The Dai-ichi Life Insurance Company, Limited

Shinichiro Kaneko

The Dai-ichi Life Insurance Company, Limited

Takafumi Watanabe

Nomura Securities Co.,Ltd.

Yoshitake Momose

Nomura Securities Co.,Ltd.

Shinichi Nishisako

Mizuho Bank, Ltd.

Keisuke Tanaka

Mizuho Bank, Ltd.

Ayumi Suga

Sumitomo Mitsui Banking Corporation

Yoshio Nonaka

Sumitomo Mitsui Banking Corporation

Yuki Sato

The Bank of Tokyo-Mitsubishi UFJ, Ltd .

Tamon Shigematsu

Mitsubishi UFJ Trust and Banking Corporation

Yoshihiro Inuma

National Pension Fund Association

Atsuko Iino

Development Bank of Japan Inc.

Kosuke Ito

Sumitomo Mitsui Trust Research Institute Co., Ltd.

Kiyotaka Maeda

MetLife, Inc.

Eiji Hirano

Japan Post Bank Co., Ltd.

Tokihiko Shimizu

Japan Post Bank Co., Ltd.

Kazunari Yaguchi

Financial Services Agency

Ryozo Himino

Financial Services Agency

Kotoku Watanabe

Ministry of Land, Infrastructure, Transport and Tourism

Hakaru Tamura

Ministry of Land, Infrastructure, Transport and Tourism

Masanari Yokoyama

Bank of Japan

Takeshi Kimura

The Real Estate Companies Association of Japan

Kaname Uchida

Hitotsubashi University

Iichiro Uesugi

Hitotsubashi University

Daisuke Miyakawa

The University of Tokyo

Yasushi Asami

The University of Tokyo

Kazuo Ueda

The University of Tokyo

Tomohiro Hirano

The Pennsylvania State University

Jiro Yoshida

Nihon University / Massachusetts Institute of Technology

Chihiro Shimizu

The University of Tokyo

Tsutomu Watanabe

National Graduate Institute for Policy Studies

Kiyohiko G. Nishimura