TOKYO — Real estate developer Mitsui Fudosan, logistics giant GLP Japan and other Japanese companies plan to invest 500 billion yen ($3.5 billion) in cold storage by 2030 as a severe driver shortage fuels demand for additional storage.
Mitsui Fudosan will enter the cold chain logistics business by 2030, investing about 100 billion yen, mainly in the Tokyo area. Fellow companies Mitsubishi Estate, Tokyo Tatemono and Tokyu Fudosan Holdings are also entering the market.