Governance (G)

Governance (G)

Since its listing, GLP J-REIT, together with GLP Japan Advisors, has pursued the maximization of unitholder interest by continuously enhancing governance systems to establish a strong relationship that aligns the interests of unitholders, GLP J-REIT and GLP Japan Advisors.

Adoption of performance-linked asset management fee to meet unitholder interest

  • The asset management fee is a performance-linked fee where approximately two-thirds of asset management remuneration is linked to NOI and EPU.

Introduction of a strict governance structure for related-party transactions

  • GLP J-REIT is not allowed to carry out related-party transactions without the approval of independent outside expert(s) of the asset management company’s Investment Committee and Compliance Committee.
  • The selection of such outside expert(s) requires the approval of the J-REIT board.

The GLP Group's holding of investment units (same boat investment)

GLP J-REIT seeks to improve mutual interest by aligning the interests of GLP J-REIT's unitholders and the interests of the GLP Group by having the GLP Group hold investment units.

Highly transparent and appropriate information disclosure in pursuit of fair disclosure

  • GLP J-REIT was the first J-REIT to implement information disclosure to a wide range of unitholders by holding a management call meeting for overseas investors in capital increase through public offering.
  • GLP J-REIT was the first J-REIT to introduce a telephone conference system for the purpose of information disclosure to a wide range of unitholders at the financial presentation meetings.
  • GLP J-REIT discloses Japanese and English press releases and disclosure material simultaneously.

Further enhancing governance through an Employee Stock Ownership Plan (ESOP)

  • Established ESOP targeting officers and employees of GLP Japan Inc. and the asset management company of GLP J-REIT in May 2020, with a policy to further enhance the alignment of interests with our unitholders.
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