REITs were first established in Japan in November 2000, when the Act on Investment Trusts and Investment Corporations (Investment Trust Act) was amended. This Act allows for the creation of two types of investment vehicles: investment trusts and investment companies. Until now, all J-REITs have been organised as investment corporations (toshi hojin).
J-REITs are closed-end funds that are listed on a stock market and have publicly traded investment units. When compared to REITs in the United States or other countries, the current J-REITs are notable for adopting an external management structure and being passive vehicles.
Existing J-REITs are all equity REITs, and there are numerous types of J-REITs. Some REITs specialise on a specific asset class, while others invest in a variety of assets. J-REITs invest in a variety of assets, including office buildings, retail properties, residential properties, hotels, logistical facilities, and health-care facilities. The share of offices in J-REIT portfolios is relatively high, and practically all properties are situated in Japan.
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Delayed share data provided by Google Finance.
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