Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events and data impacting our investment themes and outlook</li>
<li>US interest rate expectations continue to whip markets around, even as more cracks emerge in the AI trade.</li>
<li>Japan goes for broke with its latest budget and debt issuance.</li>
</ul>


A review of recent events and data impacting our investment themes and outlook
US interest rate expectations continue to whip markets around, even as more cracks emerge in the AI trade.
Japan goes for broke with its latest budget and debt issuance.


Overview #42 – What a Difference a Day Makes!

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Equity Bottom-Up

<ul>
<li>There may have been a drop in Chinese tourists but other nationalities and, above all, domestic shoppers, made up the difference at outlet malls.</li>
<li>Mitsubishi Estate's outlet business posted record sales and expects another strong year this year.</li>
<li>The boom is encouraging more investment including by Mitsui Fudosan.</li>
</ul>


There may have been a drop in Chinese tourists but other nationalities and, above all, domestic shoppers, made up the difference at outlet malls.
Mitsubishi Estate's outlet business posted record sales and expects another strong year this year.
The boom is encouraging more investment including by Mitsui Fudosan.


Record Sales for Outlet Malls Boosts Mitsubishi Estate

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>NextDC in Australia has increased its senior debt facilities to $1.6 billion for AI data center growth.</li><li>Weave is marketing Singapore shophouse suites for $73 million, reflecting a trend in capital recycling.</li><li>Mitsubishi Estate plans to invest $9 billion in data centers and real estate across the Asia-Pacific region.</li></ul>

NextDC in Australia has increased its senior debt facilities to $1.6 billion for AI data center growth.Weave is marketing Singapore shophouse suites for $73 million, reflecting a trend in capital recycling.Mitsubishi Estate plans to invest $9 billion in data centers and real estate across the Asia-Pacific region.

Asia Real Estate Tracker (15-Jul-2026): Australia's NextDC Raises Senior Debt to $1.6B for AI Center

<ul>
<li>GLP plans to launch a $3 billion IPO in Hong Kong, signaling growth in the APAC real estate market.</li>
<li>Mitsubishi Estate and ESR are collaborating on a $490 million logistics estate project in Western Sydney.</li>
<li>The Development Bank of Japan supports HDFC Fund's first investment in Indian real estate, while Mapletree raises $1.8 billion for an Asia logistics fund.</li>
</ul>


GLP plans to launch a $3 billion IPO in Hong Kong, signaling growth in the APAC real estate market.
Mitsubishi Estate and ESR are collaborating on a $490 million logistics estate project in Western Sydney.
The Development Bank of Japan supports HDFC Fund's first investment in Indian real estate, while Mapletree raises $1.8 billion for an Asia logistics fund.


Asia Real Estate Tracker (02-Jun-2026): GLP plans $3B IPO in Hong Kong this year.

<ul><li>M&amp;G has invested $126 million in six residential properties in Tokyo to grow its living portfolio.</li><li>ESR has divested majority stakes in two Yokohama warehouses, selling them to TPG in a separate deal.</li><li>A Singapore-based investor has acquired an office building in London for $234 million, reflecting APAC market trends.</li></ul>

M&amp;G has invested $126 million in six residential properties in Tokyo to grow its living portfolio.ESR has divested majority stakes in two Yokohama warehouses, selling them to TPG in a separate deal.A Singapore-based investor has acquired an office building in London for $234 million, reflecting APAC market trends.

Asia Real Estate Tracker (29-Apr-2026): M&G acquires six Tokyo residential properties for $126M.

Japan

Mitsubishi Estate Company Ltd. invests in real estate properties in Japan.  The Company leases, manages, and develops commercial buildings in central Tokyo. Mitsubishi Estate also develops and sells residential properties and parking lots and manages recreational facilities including golf courses and tennis clubs.

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Mitsubishi Estate (8802 JP)

Overview #42 – What a Difference a Day Makes!

A review of recent events/data impacting our investment themes and outlook. Fed rate cuts, Japan spending and Lithium upgrades

Rikki Malik

Record Sales for Outlet Malls Boosts Mitsubishi Estate

Despite a drop in Chinese tourists, outlet malls in Japan are thriving thanks to increased domestic shoppers and other nationalities, leading to...

Michael Causton

Asia Real Estate Tracker (15-Jul-2026): Australia's NextDC Raises Senior Debt to $1.6B for AI Center

NextDC expands debt facilities to $1.6B for AI data centers, Weave offers Singapore shophouses for $73M, Mitsubishi invests $9B in Asia-Pacific...

Asia Real Estate Tracker

Asia Real Estate Tracker (02-Jun-2026): GLP plans $3B IPO in Hong Kong this year.

GLP plans a $3B IPO in Hong Kong, while Mitsubishi and ESR invest $490M in Sydney logistics, and Mapletree raises $1.8B for an Asia logistics fund...

Asia Real Estate Tracker

Asia Real Estate Tracker (29-Apr-2026): M&G acquires six Tokyo residential properties for $126M.

M&G acquired six Tokyo residential properties for $126 million, while ESR sold stakes in Yokohama warehouses to TPG, and a Singapore investor...

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Overview #42 – What a Difference a Day Makes!

A review of recent events/data impacting our investment themes and outlook. Fed rate cuts, Japan spending and Lithium upgrades

Rikki Malik

Record Sales for Outlet Malls Boosts Mitsubishi Estate

​Despite a drop in Chinese tourists, outlet malls in Japan are thriving thanks to increased domestic shoppers and other nationalities, leading to...

Michael Causton

Asia Real Estate Tracker (15-Jul-2026): Australia's NextDC Raises Senior Debt to $1.6B for AI Center

NextDC expands debt facilities to $1.6B for AI data centers, Weave offers Singapore shophouses for $73M, Mitsubishi invests $9B in Asia-Pacific...

Asia Real Estate Tracker

Asia Real Estate Tracker (02-Jun-2026): GLP plans $3B IPO in Hong Kong this year.

GLP plans a $3B IPO in Hong Kong, while Mitsubishi and ESR invest $490M in Sydney logistics, and Mapletree raises $1.8B for an Asia logistics fund...

Asia Real Estate Tracker

Asia Real Estate Tracker (29-Apr-2026): M&G acquires six Tokyo residential properties for $126M.

M&G acquired six Tokyo residential properties for $126 million, while ESR sold stakes in Yokohama warehouses to TPG, and a Singapore investor...

Asia Real Estate Tracker

Despite a drop in Chinese tourists, outlet malls in Japan are thriving thanks to increased domestic shoppers and other nationalities, leading to...