TOKYO -- Real estate developer Mitsui Fudosan, logistics giant GLP Japan and other Japanese companies plan to invest more than 500 billion yen ($3.5 billion) combined in cold storage facilities by 2030, as an acute driver shortage increases demand for additional warehouses.
Mitsui Fudosan will enter the cold chain logistics business by investing around 100 billion yen primarily in the greater Tokyo area by 2030. Fellow developers Mitsubishi Estate, Tokyo Tatemono and Tokyu Fudosan Holdings are also entering the market.
