Profile
Drawn to the potential of urban development and architecture during university, M. S. began her career in real estate development. Seeking an environment where she could broaden her expertise through exposure to a wider range of regions and property types, she transitioned to KJRM and became an asset manager for one of Japan’s largest diversified REITs. With a strong sense of ownership, she works to enhance the asset value of existing properties by formulating asset management policies based on location, market trends and property characteristics, developing detailed budget plans and coordinating with relevant parties to implement these initiatives. She is constantly exploring new ways to deliver benefits to diverse stakeholders.
Department
Asset Management Department I, Metropolitan Division
KJR Management
KJR Management
The Metropolitan Division is responsible for managing Japan Metropolitan Fund Investment Corporation (JMF), a listed REIT that invests in real estate supporting urban life. The division invests in essential real estate assets that support urban life, including retail properties, offices, mixed-use properties, hotels and rental residential properties. Through continuous asset management, it provides stable asset-formation opportunities for a broad range of investors, including individual investors.
Expanding Opportunities Through JMF
Building a Career as an Asset Manager
After graduating, I spent about three years working in tenant leasing and property management at a company engaged in the development and lease management of commercial real estate. While I found the work meaningful, I gradually wanted to take on a role with greater discretion—one where I could offer ideas directly and broaden my professional experience and skill set.
Asset management was a new field for me, but I learned that JMF, a listed REIT managed by KJRM, is one of Japan’s largest REITs in terms of property portfolio size and asset scale. What strongly motivated me was hearing from senior colleagues that KJRM values not only stable ownership, but also proactive initiatives for enhancing property value through renovations and other means, and welcomes people who can generate ideas and take action steadily.
I felt that this environment would allow me to gain diverse experience, broaden my perspective and put forward new ideas.
Engaging with Assets Proactively
Creating Value Through On-the-Ground Insight
After joining KJRM, I was inspired by the way senior colleagues approached their work.
Many people here are highly responsible and persistent, pursuing their goals with great attention to detail. Asset management may sound like a desk-based role focused on numbers—and of course, detailed management of budgets and performance and scenario planning are essential. However, what truly matters is the ingenuity to facilitate smooth decision-making and coordination necessary for project execution through visiting properties frequently, communicating with on-site partners and sensing changes in the real estate environment in surrounding areas. This combination of numerical data and on-the-ground insight is a shared strength among senior colleagues.
During my first four years, I worked in a team responsible for renovation and leasing, engaging in projects across a wide range of properties—from large shopping centers to prime street-front properties in central Tokyo.
Through these experiences, following the example set by senior colleagues, I learned the importance of accurately understanding each property’s characteristics and competitive landscape, approaching negotiations with a clear grasp of the property’s strengths and key selling points and constructing a scenario that logically explains, using numerical data, our policies—such as why we aim to attract particular tenants and how we plan to carry out renovations—to internal stakeholders and investors. I carry out my duties with a strong awareness of the perspectives unique to REIT property management and the importance of accountability to investors.
Through these experiences, following the example set by senior colleagues, I learned the importance of accurately understanding each property’s characteristics and competitive landscape, approaching negotiations with a clear grasp of the property’s strengths and key selling points and constructing a scenario that logically explains, using numerical data, our policies—such as why we aim to attract particular tenants and how we plan to carry out renovations—to internal stakeholders and investors. I carry out my duties with a strong awareness of the perspectives unique to REIT property management and the importance of accountability to investors.
Transforming a Food Court Facing Profitability Challenges
Enhancing Asset Value with Ownership
After gaining experience across various projects for four years, I am now part of the Asset Management Department mainly managing retail and mixed-use properties.
As an asset manager, the role expands beyond individual projects—you are responsible for enhancing value for your assigned properties from a medium- to long-term perspective.
This includes managing budgets and performance for each fiscal term, formulating plans for each property to identify future growth opportunities and coordinating with both internal and external stakeholders to execute the plans. The person in charge of the property is primarily responsible for managing this entire process.
As an asset manager, the role expands beyond individual projects—you are responsible for enhancing value for your assigned properties from a medium- to long-term perspective.
This includes managing budgets and performance for each fiscal term, formulating plans for each property to identify future growth opportunities and coordinating with both internal and external stakeholders to execute the plans. The person in charge of the property is primarily responsible for managing this entire process.
It is necessary to manage schedules and budgets appropriately while flexibly responding to the unique circumstances of each project. The knowledge and expertise required are wide-ranging, which means you are given substantial discretion along with significant responsibility, but so is the reward: your ideas and perspective can directly lead to improvements in property value. I feel that this is an environment where I can grow while gaining the kind of broad experience I was aiming for when I changed jobs.
For example, one retail property I managed faced long-standing profitability challenges with its food court. We ultimately decided to close it entirely and convert the space into a single large lease unit.
For example, one retail property I managed faced long-standing profitability challenges with its food court. We ultimately decided to close it entirely and convert the space into a single large lease unit.
There were mixed opinions at first, but after extensive analysis, scenario development and discussions with many stakeholders including on-site partners, we moved forward with construction and leasing. As a result, a highly sought-after children’s apparel tenant moved in, improving the profitability of the lease unit. We also created a green public plaza with natural grass in front of the unit, which enhanced the overall attractiveness of the facility. It remains one of the most memorable projects, where we achieved positive outcomes for both the property’s business performance and customer satisfaction.
Balancing Career and Family with Flexible Systems and Team Understanding
I am currently raising a child while continuing my career. After taking about a year of maternity and childcare leave, I returned to the Asset Management Department. There are times when adjustments are necessary due to a child’s sudden illness, but thanks to the flexible work systems such as remote work and flextime—and with the understanding and support of those around me—I have been able to continue working in the Asset Management Department I hoped for. While balancing both is still a learning process, my child keeps on growing, so I hope to keep shaping the best work style for each life stage, in consultation with the company.
Creating a Positive Cycle for Investors, Users and Local Communities
As an asset manager, my first priority is to steadily enhance property value through daily efforts aligned with our division’s goals.
Looking ahead, I want to continue deepening my understanding of JMF’s direction, REIT market trends and investor expectations, so that I can independently develop and execute management strategies.
Looking ahead, I want to continue deepening my understanding of JMF’s direction, REIT market trends and investor expectations, so that I can independently develop and execute management strategies.
What I find most compelling about asset management at KJRM is the ability to take full responsibility for enhancing asset value—from managing budgets and performance and formulating future policies, to coordinating with many stakeholders and driving initiatives through consistent effort. By enhancing asset value, we can deliver returns to investors while also generating positive effects for tenants, visitors and local communities by improving the attractiveness of properties. I want to continue to help create this positive cycle with a strong sense of responsibility and continuous improvement.
The employee’s department and interview content are as of the time of the interview.
