GLP Leases 15,000 sqm (161,000 sq ft) to Akachan House in Greater Tokyo

GLP Leases 15,000 sqm (161,000 sq ft) to Akachan House in Greater Tokyo

GLP signed a new 15,000 sqm (161,000 sq ft) lease with Akachan House at GLP Narita in Greater Tokyo. Akachan House is a leading e-commerce retailer for baby products in Japan.

  • GLP signs a new 15,000 sqm (161,000 sq ft) lease with Akachan House, a leading e-commerce retailer for baby products in Japan
  • Demand for modern logistics facilities in Japan is driven by domestic consumption and consolidation trend

 

Tokyo, 17 March 2016 – GLP, the leading global provider of modern logistics facilities, signed a new 15,000 sqm (161,000 sq ft) lease with Akachan House at GLP Narita in Greater Tokyo. Akachan House is a leading e-commerce retailer for baby products in Japan.


The customer is consolidating multiple operations in Greater Tokyo into GLP Narita. The facility will be used as a hub to support same-day distribution needs for their e-commerce operations in Japan.
 

Mr. Yoshiyuki Chosa, President of GLP Japan, said: “We are delighted to grow our relationship with one of our key e-commerce customers with this new lease. Domestic consumption remains strong and we continue to see demand for our modern logistics facilities as companies seek to consolidate their operations into a single, well-located facility. We look forward to supporting our customers with our high-quality logistics facilities as they continue to grow in Japan.”

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 50 million square meters1 (538 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP’s business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP’s invested capital. As of 31 December 2015, GLP’s total owned and managed assets amounted to US$34 billion1.
 

GLP is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).


GLP Investor Relations & Media Contact:

Ambika Goel, CFA

SVP- Capital Markets and Investor Relations

Tel: +65 6643 6372

Email: agoel@glprop.com


## END ##

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries. Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," “intends,” “foresees,” “estimates,” “projects,” and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.

1 Pro-forma figures based on GLP’s reported financials as of 31 December 2015