Corporate Organization / Mitsui & Co. Logistics Partners Ltd.

Mitsui & Co. Logistics Partners Ltd. (MLP) is entrusted with the asset management of Japan Logistics Fund, Inc. (JLF) under an asset management agreement.

As the asset management company required by the Investment Trust Law of Japan, MLP manages JLF's assets in accordance with the asset management objectives and policies stipulated by JLF's articles of incorporation. In addition, in accordance with the contract for the management of general administration that designates MLP as the institutional manager of JLF's assets, MLP also executes certain responsibilities related to the operation of the Unitholders' Meeting and Board of Directors as the manager of general administration.

 

 

Management Structure / Mitsui & Co.,Logistics Partners Ltd.

 

 

The Board of Directors makes decisions on MLP's basic management policies and oversees the execution of the duties of the representative director. The President and CEO, who is the representative director, supervises and executes MLP's operations. The CIO, as head of the Acquisition Department and the Investment Management Department, the CFO, as head of the Corporate Planning and Finance Department and the Accounting Department, and the head of the Corporate Administration Department each serve as directors and oversee their respective divisions under the direction and oversight of the President and CEO. Internal audits are covered by the Compliance Officer while utilizing the expertise of outside CPAs, who also conduct the accounting and operational audits of MLP.

 

Department and Committee Duties

 

Acquisition Department

Establishment of basic investment management policies

Research and analysis of real estate market, logistics market, etc.

Acquisition and sale of properties

Research and assessment of properties

Tenant leasing of properties

Establishment of renovation plans of properties

 

Investment Management Department

Establishment of basic policies relating to the investment, operation and management of operating assets

Establishment of renovation plans of properties

Establishment of the annual investment and management plans of operating assets

Selection and supervision of property managers of operating assets

Monitoring and reporting on the status of management and operation of operating assets

Establishment and implementation of medium- to long-term repair and maintenance plans

 

Corporate Planning and Finance Department

Planning and proposal of management strategies for JLF and MLP

Funding procurement for JLF

Management of information disclosure, investor relations, and public relations for JLF

Handling of referrals from unitholders

Operation and administration of information systems

 

Accounting Department

Closing of financial accounts of JLF

Matters relating to the figure management of assets under management

Matters relating to accounting of MLP

 

Corporate Administration Department

Operation of general unitholders' meetings and Board of Directors meetings of JLF

Operation of shareholders' meetings and Board of Directors meetings of MLP

Communication with supervisory agencies and various related organizations

Matters relating to general affairs and personnel of MLP

 

Compliance Officer

Matters relating to compliance

 

Internal Audit Officer

Matters relating to risk management

Matters relating to internal audits

 

Investment Management Committee

Formulation and revision of investment guidelines

Formulation and revision of asset management plans

Acquisition, sale and renovation of individual properties

Management of and investment in individual properties

 

Internal Management Committee

Matters relating to compliance

Matters relating to risk management

Matters relating to internal audits

Formulation and validation of internal rules and regulations

General matters relating to internal management, including incidents and complaints

Business transactions with interested parties of MLP

Deliberations of the Investment Committee

 

Disclosure Committee

Establishment, revision and abolition of core disclosure rules and supplementary provisions as well as other rules and basic policies relating to disclosure

Evaluation of the suitability of the disclosure of financial statements and other important documentation

Decisions pertaining to the necessity of timely disclosure of important information and the suitability of disclosure content

Development of internal structures for information disclosure

Other matters relating to disclosure rules that warrant Committee deliberation

 

Compliance Initiatives

The management of JLF and MLP conduct honest and appropriate business activities while maintaining compliance by adhering to all relevant laws and regulations based on a high level of corporate ethics.

The bylaws of JLF's Board of Directors stipulate that Board of Directors ‘meetings are to be held at least once every three months. However, in practice, JLF holds such meetings at least every month. At Board Meetings, the executive director reports on the execution of his duties, and supervisory directors ensure that oversight and check and balance systems are functioning properly.

MLP recognizes compliance as a core facet of its management strategy, and abides by a fundamental compliance policy whereby operations are conducted honestly and fairly and a rigorous compliance system is maintained based on a high level of corporate ethics. Specifically, MLP has established a Compliance Committee, consisting of the Compliance Officer, President & CEO, the heads of each department which include the CIO, the CFO, and the head of the Corporate Administration Department, as well as an outside committee member, in order to enhance awareness of and adherence to the "Compliance Manual." Additionally, the Compliance Program is reviewed and revised each year to verify the progress of the execution plan for that year and to identify any problem areas.