Japan Metropolitan Fund Investment Corporation

Overview

Japan Metropolitan Fund Investment Corporation (JMF) is a prominent diversified real estate investment corporation in Japan, primarily investing in urban properties to support metropolitan life. Established in 2001, JMF was the first investment corporation in Japan to specifically target retail real estate assets. It was listed on the Tokyo Stock Exchange in March 2002 under the securities code 8953. Over the years, JMF has expanded its portfolio through strategic mergers, including the merger with LaSalle Japan REIT Inc. in March 2010 and with MCUBS MidCity Investment Corporation in March 2021, which led to the change of its trade name from Japan Retail Fund Investment Corporation to Japan Metropolitan Fund Investment Corporation. JMF's investment strategy focuses on acquiring and managing a diverse range of urban real estate assets, including retail facilities, office buildings, residential properties, hotels, and mixed-use properties. The corporation aims to enhance unitholder value through sustainable growth by investing in properties that serve as foundations for urban living. As of December 2025, JMF's portfolio comprises 158 properties with a total acquisition price of approximately 1,324.6 billion yen, achieving an occupancy ratio of 99.3%. The corporation's asset management is handled by KJR Management, a subsidiary of KKR Group Assets Holdings III L.P., which became the wholly-owning parent company of KJRM Holdings in June 2025. This restructuring aims to simplify the shareholding structure of certain operating subsidiaries. JMF's commitment to supporting metropolitan life in Japan is reflected in its strategic investments and operational focus on urban real estate, contributing to the development and sustainability of urban communities across the country.

Investment Focus

• Properties located in urban areas of Japan
• Assets with potential for sustainable growth
• Opportunities for value enhancement through active management

Portfolio Companies