Mitsui AM Buying Half-Stake in Greater Tokyo Data Centre for $120M

An asset management arm of trading giant Mitsui & Co plans to acquire a 50 percent stake in a hyperscale data centre in Greater Tokyo for JPY 18 billion ($120 million).

The 20-megawatt operational facility in Kanagawa prefecture is a seed asset of a data centre fund to be established with institutional investors inside and outside of Japan, Mitsui said Wednesday in a release. The conglomerate is investing in the data centre through its wholly owned Mitsui & Co Asset Management Holdings, with the remaining half-stake to be held by an unidentified joint venture partner.

Mitsui has been involved in hyperscale data centre development since 2021 through the launch of funds via subsidiary Mitsui & Co Realty Management. MBRM will be entrusted with asset management operations upon completion of the acquisition, Mitsui said.

“Mitsui will contribute to the construction of digital infrastructure that supports industries through the further activation of the data centre market,” the company said. “Mitsui will also use its asset management capabilities to provide institutional investors and businesses with investment opportunities in asset classes that are expected to grow in the future.”

Top Regional Pipeline

Mitsui’s latest investment comes as Japan leads Asia Pacific in terms of capital requirements to complete its data centre project pipeline, with $35.4 billion needed for the country’s 2,678MW of capacity, according to Cushman & Wakefield. At the city level, Tokyo has the region’s biggest pipeline at 1,656MW.

Global investors have continued to bet on Japan’s digital infrastructure market in 2025, as Goldman Sachs kicked off the year with the announcement of a 120MW facility in Fukuoka prefecture as the US finance giant’s first data centre in Asia.

The investment bank’s Global Compute Infrastructure division partnered with Hong Kong-based fund manager Asia Pacific Land on development of the project in the city of Kitakyushu, aiming to start construction next year.

Also in January, EdgeConneX revealed its first data centre project in Japan, with the EQT-backed hyperscale specialist set to develop a Greater Osaka facility with a capacity in excess of 140MW when complete.

Last month, Singapore’s CapitaLand Investment disclosed a land buy in Osaka to develop the firm’s first data centre in Japan at a total project cost of $700 million. The development will add 50MW of capacity to the Temasek-backed giant’s existing global portfolio of 27 data centres across Asia and Europe with 800MW of power and S$6 billion ($4.4 billion) in assets under management on a completed basis.

Home and Away

Mitsui & Co’s real estate moves include last year’s tie-up with fellow Japanese goliath Mitsubishi Estate and US developer Hines to buy a northern Singapore logistics asset.

The partners closed the sale-leaseback deal for 15 Senoko Loop with the seller, British American Tobacco, in June, marking the first Hines joint venture with Japanese institutional partners in Singapore.

Around the same time, a private fund managed by Mitsui & Co acquired a newly completed rental apartment building in eastern Tokyo from German family office AM Alpha. The 10-storey multi-family asset in Koto ward, known as Alpha Prime Toyocho, was developed by Japanese construction giant Daiwa House Industry, which delivered the project in January of last year.

The conglomerate’s other hometown property investments include Ebisu First Square, a 12-storey office building in Tokyo’s central Shibuya ward, acquired in 2023 through a fund managed by Mitsui & Co Digital Asset Management.