To our valued investors,

Thanks to your support, and that of our business partners, GLP J-REIT was listed on the Real Estate Investment Trust Market of the Tokyo Stock Exchange on December 21, 2012, as a real estate investment corporation specializing in logistics facilities - the largest of its kind in Japan.

Demand for modern logistics facilities has been increasing steadily on the back of a need for improved efficiency of logistics operation in Japan, the growth of the e-commerce market, and the consolidation of the supply chain such as by including manufacturing functions, etc. in large-scale logistics facilities.

With the GLP Group, a global operator of modern logistics facilities and related technologies, as sponsor, GLP J-REIT aims to earn stable income and achieve steady growth in assets under management over the medium and long term. It seeks to do this by investing in modern logistics facilities mainly in the Tokyo metropolitan area and the Kansai area.

GLP J-REIT is determined to maximize our investors’ value, harnessing the extensive experience of the GLP Group in operating logistics facilities and building on our know-how in the fund management business that we operate globally.

I respectfully ask for your continued support and encouragement in the years to come.