Growing into Japan’
s leader
in the real estate investment business
Kenedix started operations in 1995 as a subsidiary of Kennedy Wilson Inc, a U.S. real
estate company. At first, Kenedix was involved primarily in introducing the real
estate auction system used in the United States to Japanese companies and financial
institutions.
Soon after its establishment, Kenedix capitalized on the opportunity at the dawn of
the real estate securitization business in Japan. Around 1998, Kenedix started
performing due diligence for other companies for real estate used as collateral.
Kenedix then started working jointly with U.S. investors for investing in real estate
and non-performing loans (NPLs). Adding these activities set the stage for the start
of a full-scale real estate investment fund business.
In the ensuing years, while responding to market volatility, Kenedix continued to
widen the scope of asset management business by providing services to various
investors. In the early 2000s, Kenedix expanded its customer base beyond overseas
investors to include domestic pension funds and institutional investors. In 2005 and
2012 Kenedix Realty Investment Corporation and Kenedix Residential Investment
Corporation were listed on J-REIT market, respectively.
There was also consistent growth in assets under management, which is the most
important performance indicator for Asset Managers. Along with this growth,
Kenedix became one of the most prominent real estate asset management companies
in Japan.
Kenedix plans to strengthen marketing to global
investors to raise additional funds, step up deal sourcing
to acquire suitable properties and strengthen its real
estate asset management operations.
Adapting to changes in market conditions with
flexibility and speed, Kenedix is determined to become
the leader in the real estate investment business on a
global scale.
President and
Representative Director
Atsushi Kawashima
Kenedix Group
A source of comprehensive investment services
backed by all of Kenedix Group’
s resources
Kenedix Group manages private funds as well as three J-REITs, each of which invests in
a different property types : mid-sized office buildings, logistics facilities and residential properties.
We provide investment opportunities and asset management services to domestic and overseas investors,
pension funds, sovereign wealth funds, and other clients.
Listed J-REITs
Kenedix
Office Partners
Mitsui & Co.,
Logistics Partners
Private fund
Kenedix
Residential Partners
Mid-size
Office
Logistic
Facility
Residential
Kenedix
Realty
Corporation
Japan
Logistics
Fund
Kenedix
Residential
Investment
Corporation
Kenedix Advisors
Office,
residential,
retail facility,
etc.
Private
Funds
Investment Properties
Assets under management include many asset classes
as well as variety within each class
Kenedix acquires office buildings, residential properties, commercial facilities, logistics facilities, senior healthcare facilities
and other types of assets. Furthermore, our portfolio includes properties of many sizes. This variety of
assets under management is an important characteristic of Kenedix Group.
Office
Residential
■ KDX Grandsquare
■ Regalo Higashizakura
Located in Koto-ku, Tokyo
63,892.86m² floor area［10-story］
Located in Nagoya, Aichi
9,545.15㎡ floor area［18-story, 187 units］
Retail Facility
Logistic Facility
Senior Healthcare Facility
■ Carino Chitosedai
■ Yachiyo Logistic Center II
■ Trustgarden Yoga no mori
Located in Setagaya-ku, Tokyo
18,247.43㎡ floor area［4-story with 2 basement floors］
Located in Yachiho-shi, Chiba
32,401.70m² floor area［Single story］
Located in Setagaya-ku, Tokyo
6,062.43㎡ floor area［3-story］
Assets Under Management
Our assets under management, or AUM,
total ￥1.1 trillion in FY2011
Kenedix Group has increased assets under management consistently by adapting with flexibility to changes in market conditions.
In fiscal 2011, assets under management surpassed ¥1.1 trillion and include over 600 properties. Most of these properties are located
in the Tokyo metropolitan area, followed by Kansai, Chubu and Kyushu, demonstrating the nationwide scale of investment activities.
Investments outside Japan are increasing, too.
■ Growth of AUM in billion yen
1,097.9
1,111.3
939.9
844.3
735.0
Number of Assets throughout Japan
■
■
■
■
544.4
385.7
101 assets or more
51 to 100 assets
1 to 50 assets
none
240.4
83.8
FY2002
105.9
FY2003
Other Areas
Kyushu 11%
2%
FY2004
FY2005
FY2006
FY2007
FY2008
FY2009
FY2010
Chubu Area
6%
FY2011
Kansai Area
13%
Geographic
Coverage
Tokyo Metropolitan Area
68%
Others
6%
Tokyo
Logistics
13%
●
Nagoya
Osaka ●
Fukuoka
●
Retail
facilities
17%
●
Property
Category
Office
45%
Residence
19%
Principal Account
14%
Foreign Investors
32%
Client
Investors
J - REITs
38%
Domestic
Institutional
Investors
3%
Pension funds
13%
Breakdown of AUM
in FY2011
Management Team
President
Atsushi Kawashima
Mr. Kawashima joined Kenedix in 1998 and is currently the President of Kenedix. Mr. Kawashima is responsible for our fund management and
investment strategy. Mr. Kawashima is also directly responsible for managing our over ¥ 900 billion portfolio of real estate investments. Prior to
joining Kenedix, Mr. Kawashima was employed by Mizuho Trust & Banking Co., Ltd, most recently in the role of Senior Manager in the real
estate business division. In this role Mr. Kawashima was responsible for deal sourcing and brokerage of real estate investments. Mr. Kawashima
has over 30 years’experience in the construction and property investment industry, including construction management in Baghdad and Hong
Kong while working for Mitsubishi Corporation.
Director
Taiji Yoshikawa
Mr. Yoshikawa joined Kenedix in 1998 and is currently the Director of Kenedix. Mr. Yoshikawa is responsible for managing our financial and
administrative requirements, including the fund raising with Kenedix client investors. Prior to joining Kenedix, Mr. Yoshikawa was employed by
Mitsubishi Corporation, most recently in the role of Manager of the domestic and overseas real estate investments and development projects
division. In this role Mr. Yoshikawa was responsible for managing the investments. Mr. Yoshikawa has over 30 years’experience in the property
investment industry, including roles in construction and development with Mitsubishi Corporation and Fudo Construction Co., Ltd.
Director
Taisuke Miyajima
Mr. Taisuke Miyajima joined Kenedix in 1998 and is currently the Director of Kenedix. Mr. Miyajima is responsible for asset management
business of Kenedix Group. Prior to assuming his current position in 2012, he had been the Executive Director of Kenedix Realty Investment
Corporation and CEO and President of Kenedix Office Partners, Inc since 2005. Prior to joining Kenedix, Mr. Miyajima served as Manager of the
Capital Markets Department at the Mitsubishi UFJ Trust and Banking Corporation Head Office in Tokyo beginning in 1987 and was transferred
to Mitsubishi's Los Angeles Agency in 1992 where he served as First Vice President of Real Estate Finance. Mr. Miyajima has more than 20
years of experience in capital markets including asset securitization as well as corporate and real estate finance in the U.S. and Japan.
Executive Officer, General Manager of Strategic Investment Department
Soushi Ikeda
Mr. Ikeda joined Kenedix in 2003 and is currently the Executive Officer and the General Manager for Investment Business Department of
Kenedix. In this role Mr. Ikeda is responsible for deal sourcing and acquisition of investments. Prior to joining Kenedix, Mr. Ikeda served in the
real estate industry for about a decade, having worked for Tokyu Land Corporation from where he was seconded to the Organization for
Promoting Urban Development. He joined Sumitomo Life Insurance Company, most recently engaged in structured finance department until he
joined Kenedix in June 2003. Mr. Ikeda has 20 years’experience in the property investment industry with Tokyu Land Corporation, Sumitomo
Life Insurance Company and Kenedix.
Executive Officer, General Manager of Corporate Planning Department
Masahiko Tajima
Mr. Tajima joined Kenedix in 2005 and is currently the Executive Officer and the General manager of Corporate Planning Department of
Kenedix. In this role Mr. Tajima is responsible for investor relations and new business development. Prior to assuming current position in 2012,
Mr. Tajima had been a director and the general manager of the financial planning division of Kenedix Office Partners, Inc. which is an asset
management company of Kenedix Realty Investment Corporation since 2005. Mr. Tajima started his career in Sumitomo Mitsui Trust Bank and
gained over a decade of business experience in a variety of departments including the credit planning department and the securities department.
Mr. Tajima worked as an investment officer at the structured finance department of Sumitomo Life Insurance Company from 2000 to 2005.
External Director
Takashi Uematsu
Joined Nomura Real Estate Development Co., Ltd., Apr 1973/ President and CEO of Tokyo Marine Property Investment Management, Inc., Mar
2008/ Director of Kenedix, Mar 2011/ Lecturer at Nihon University Graduate School/ Visiting Professor of National Graduate Institute for Policy
Studies/ Managing Director of the Japan Association for Real Estate Sciences
External Director
Shuhei Shiozawa
Ph.D. ( Economics ) in University of Minnesota, Nov 1986/ Associate Professor of Economics, Keio University, Apr 1987/ Professor of Economics,
Keio University/ Cabinet Counselor ( Global Economics ) / Dean of Faculty of Economics, Keio University/ Member of CPA Examination
Committee/ Director of Kenedix, Mar 2012
Corporate Auditor
Harutaka Hamaguchi
Corporate Auditor
Ninji Hayashi
Corporate Auditor
Shintarou Kanno
Corporate Auditor
Haruo Funabashi
History
Apr 1995
Incorporates as Kennedy-Wilson Japan Co., Ltd. as a consolidated subsidiary of the U.S. Kennedy-Wilson,
Inc., for the purpose of providing real estate investment advisory services in Japan.
Feb 1999
Supports investment opportunity for the data center building in Kawasaki, arranging Japan's first
non-recourse loan for real estate. Kenedix enters in asset management business.
Feb 2002
Lists on the Osaka Securities Exchange.
Oct 2002
Osaka office opens.
Aug 2003
Business alliance with Mitsui & Co., Ltd.
Nov 2003
Forms pension fund-based real estate investment fund.
Establish subsidiaries: Kenedix Advisors, Inc. and Kenedix Office Partners, Inc.
Dec 2003
Lists on the Second Section of Tokyo Stock Exchange.
Dec 2004
Lists on the First Section of Tokyo Stock Exchange.
May 2005
Changes company name to Kenedix, Inc.
Japan Logistics Fund, Inc., Japan's first real estate investment trust specialized in logistics facilities,
lists on the Tokyo Stock Exchange.
Jul
2005
Apr 2007
Kenedix Realty Investment Corporation lists on the Tokyo Stock Exchange.
Challenger Kenedix Japan Trust, a real estate investment trust joint venture with Challenger
Financial Service Group Limited, lists on the Australian Stock Exchange.
Mar 2008
Kenedix group's AUM exceed ¥800 billion.
Aug 2008
Forms a ¥28 billion private fund with German investor, investing mainly in suburban commercial
facilities.
Jun 2009
Sold KDX Toyosu Grandsquare, a large building developed in Koto-ku, Tokyo to a fund managed by
the Carlyle Group and concurrently entered into an asset management agreement to provide asset
management services.
Feb 2010
Challenger Kenedix Japan Trust de-listed from Australian Stock Exchange.
May 2010
Commencement of sponsorship for Pacific Holdings, Inc., etc.
Jun 2010
Kenedix group's AUM exceed ¥1 trillion.
Jul
Business alliance with ITOCHU Corporation.
2010
Apr 2012
Kenedix Residential Investment Corporation lists on the Tokyo Stock Exchange.
Affiliated Companies
Kenedix Office Partners, Inc.
■ Location : 2-2-9 Shinbashi, Minato-ku, Tokyo, Japan
■ President : Naokatsu Uchida
■ Established : Nov 2003
■ Capital : ¥200 million
■ Principal Shareholders : Kenedix Asset Management, Inc. ( 90%), Itochu Corporation ( 10%)
■ Business Activity : Investment Management business
■ Incidental Business : Real estate property management business, Business related to leasing building land or buildings, Administration of the operation of the Investment Corporation
■ Business Registration and license :
- Financial Instruments Business, registered by the Director of Kanto Local Finance Bureau
- Member of the Investment Trusts Association
- Building Lots and Buildings Transaction Business, issued by the Governor of Tokyo
- Discretionary Real Estate Transaction License, issued by the Minister of Land, Infrastructure
and Transportation
Kenedix Residential Partners, Inc.
■ Location : 2-2-9 Shinbashi, Minato-ku, Tokyo, Japan
■ President : Akira Tanaka
■ Established : Mar 2011
■ Capital : ¥100 million
■ Principal Shareholders : Kenedix, Inc. ( 100%)
■ Business Activity : Investment Management business
■ Business Registration and license :
- Financial Instruments Business, registered by the Director of Kanto Local Finance Bureau
- Member of the Investment Trusts Association
- Building Lots and Buildings Transaction Business, issued by the Governor of Tokyo
- Discretionary Real Estate Transaction License, issued by the Minister of Land, Infrastructure
and Transportation
Kenedix Advisors, Inc.
■ Location : 2-2-9 Shinbashi, Minato-ku, Tokyo, Japan
■ President : Keizo Katayama
■ Established : Nov 2003
■ Capital : ¥50 million
■ Principal Shareholders : Kenedix Asset Management, Inc. ( 100%)
■ Business Activity : Investment management business, Investment advisory and agency operations, Financial Instruments business operations, real estate agency and brokerage, consulting business regarding asset and fund management
■ Business Registration and membership :
- Type Ⅱ Financial Instruments Business, Investment Advisory and Agency Business,
Investment Management Business, registered by the Director of Kanto Local Finance Bureau
- Building Lots and Buildings Transaction Business, issued by the Governor of Tokyo
- General Real Estate Investment Advisory Business, registered by Ministry of
Land, Infrastructure, Transport and Tourism
- Japan Investment Advisers Association
- The Assosiation for Real Estate Securitization ( supporting member )