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Daito Trust will invest a combined US$74 million in JustCo and in a new Japan joint venture

As featured on:

  1. Yahoo

| Nov 2019 |

SINGAPORE, 28 November 2019 – Daito Trust Construction Co., Ltd (“Daito Trust”), a listed construction and real estate company in Japan will invest a US$50 million in JustCo Holdings Pte. Ltd. (“JustCo”).

In addition, Daito Trust will invest up to an additional JPY 2.65 billion (US$24 million) to form a new Japan joint venture with JustCo to build and operate flexible workspace business in Japan (the “Joint Venture”).

The Joint Venture, JustCo DK (Japan) Co., Ltd., will be 51% owned by Daito Trust and 49% owned by JustCo.

This Joint Venture will be an integral part of Daito Trust’s strategy to develop a comprehensive leasing and lifestyle business, whilst enabling JustCo to expand its network into Japan in response to the needs of JustCo’s regional members and to support its future growth. This strategic partnership will leverage JustCo’s leading capabilities in space planning, workplace technology and community management, combined with Daito Trust’s in-depth knowledge of the Japanese real estate market. The transaction is subject to the satisfaction of certain closing conditions.

JustCo on a sustained growth path

Since the US$177 million joint investment in JustCo from Singapore’s sovereign wealth fund GIC, and multi-national real estate company Frasers Property Limited in May 2018, JustCo has expanded its network from 14 co-working centres in two cities, to close to 40 centres across eight cities today.

Being one of the leading flexible workspace providers with a large multi-city presence in Asia Pacific, JustCo is enjoying buoyant demand for flexible workspace from existing members and a large number of new clients, ranging from start-ups to large enterprises including Fortune 500 companies. Such demand has enabled JustCo to enjoy strong occupancy rates throughout its centres, contributing to faster than expected revenue growth.

In line with JustCo’s vision to “Make Work Better” and further enhance member experience, JustCo’s key differentiation is its ability to deploy smart technologies in both physical and digital spaces to create an integrated flexible workspace solution to better serve its communities.

The additional US$74 million funding provided by Daito Trust to JustCo and the Joint Venture, combined with positive cash flow from JustCo’s mature centres and its cash reserves, will enable JustCo to continue to fund its growth plan and benefit from the ongoing consolidation in the flexible workspace market.

Entering Japan, another key market to JustCo’s network

Japan, as the second largest economy in Asia by GDP, is an important market for a large number of JustCo’s existing members. Demand for flexible workspace in key Japanese cities such as Tokyo is fast-growing. Expansion into Japan will further enhance JustCo’s network advantage to better serve the needs of its members. This extends JustCo’s presence in Asia Pacific to eight key markets, including Australia, China, Indonesia, Singapore, South Korea, Taiwan and Thailand, allowing JustCo to better respond to new demands for flexible workspace, further fueling its growth.

Positioning JustCo for success in Japan

Understanding each market’s local nuances is critical to JustCo’s success in the region. JustCo’s strategic partnership with Daito Trust is expected to catalyze JustCo’s market entry into Japan, and further enhance its localization capabilities to offer customized workspace solutions and curate relevant community programs for local members and their businesses. Similar to the other markets which JustCo is already present in, there will be a local team on the ground to manage the business.

JustCo and Daito Trust share a long-term commitment to develop a successful flexible workspace business in Japan. The investment in JustCo and establishment of the Joint Venture will enable Daito Trust to realize its strategy to expand beyond its traditional business of rental housing and become a comprehensive lifestyle support company.

Daito Trust is a leading construction and real estate company in Japan, offering an extensive range of services seamlessly from consulting sales of rental housing, design and construction, tenant recruitment to building management, with esteemed record of consistent growth in sales and profits for 11 consecutive years to achieve net sales in excess of JPY 1.5 trillion and net profit of JPY 90 billion for the fiscal year ended March 31, 2019. With a No.1 market position in Japan, Daito Trust will tap on its deep customer base, local market knowledge, local design and development capability and a strong local network of brokers to contribute meaningfully to the Joint Venture.

Mr. Katsuma Kobayashi, President and Representative Director (CEO), Daito Trust, said, “Our Group achieved accelerated growth as a company specialized in rental housing, and is now implementing the New Five-Year Plan from the fiscal year 2019. Under the slogan of ‘becoming a company that our stakeholders feel comfortable, entrusting their dreams and future to and that can generate sustainable growth’. Our Group aims to become a total lifestyle support company by strengthening comprehensive leasing and total lifestyle support service business operations, in addition to our efforts to bolster the core businesses (rental housing field) and expand market share. The flexible workspace business is one of the key elements in our comprehensive leasing business, and we believe the collaboration with JustCo marks a significant step forward.”

Mr. Kong Wan Sing, Founder and Chief Executive Officer, JustCo, said, “The investment from Daito Trust is testament to the long-term growth potential of the flexible workspace industry and JustCo’s sustainable growth and leadership in the region. The scale of the Japanese market opportunity will contribute significantly to the growth of JustCo. Japan is one of the key growth markets for us. We are confident of the strategic partnership with Daito Trust, given their long history in Japan, trusted reputation and local expertise. Our strong corporate governance and financial prudence will continue to serve as the backbone of our business as we expand our network. JustCo aims to cement its position as the leader in Asia Pacific, and has set a new target to operate more than 3 million square feet of co-working spaces by 2021.”


{:zh} 閱讀全文,請點擊: | Nov 2019 | JustCo台灣總經理陳兆慶在接受《數位時代》採訪時分享JustCo選擇進入台灣市場的原因,以及為何大型企業客戶選擇JustCo辦公空間的考量,同時透過科技、社群打造JustCo與競爭對手差異之處。 {:}{:en} Full article on Business Next can be read here. | Nov 2019 | In an interview with Business Next, George Chen, General Manager of JustCo Taiwan shares about how it was an [...]...

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亞洲共享辦公空間領導品牌《JustCo》台北首站一「宏泰金融中心」盛大開幕 2020 年預計將拓展至六據點 成為台灣最大坪數的共享辦公空間品牌 匯集全球社群人脈網絡 打造亞洲最大規模創新工作生態系

{:zh} As featured on: 蘋果即時 Yahoo新聞 中央通訊社 動腦雜誌 中時電子報 經理人 中國郵報 PChome新聞 大華網路報 新浪新聞 天下雜誌 | Sep 2019 | 台北訊,2019年9月26日一根據Instant Offices最新公布的《2018 APAC Flexible Workspace》研究報告指出,隨著企業對靈活辦公空間需求提升,亞太地區的辦公空間供應量增加了16%,更估計有高達8,600個中心據點為客戶提供全方位、靈活性的辦公空間解決方案。著眼於此趨勢,亞洲共享辦公空間領導品牌《JustCo》為加強拓展亞太區業務,提供給更多工作者與企業更多更好的工作空間與優質辦公體驗,今(26)日在台正式成立第一個據點一JustCo「宏泰金融中心」,此外,2020年底預計將在台灣成立共六個據點,佔據超過一萬坪的空間,成為台灣最大的共享辦公空間品牌。 「JustCo宏泰金融中心」坐落於松山區的黃金地段,擁有橫跨兩層樓至少可容納750會員人數,總面積達1,700坪的寬敞空間。現代革新的明亮空間,除規劃有私人電話亭、個人辦公桌、獨立辦公室、商務會議室之外,更配置有如時尚居家的開放式公共交誼空間、咖啡點心休憩吧檯。「JustCo宏泰金融中心」提供優質時尚、多元化的設施和服務,結合充滿活力與靈活性的社群網絡能量,讓不同領域的會員們在此相互交流成長,諸如:Index Asia、Scalable Labs、WixTW、Dable、 MULT等具有潛力發展性的企業皆已進駐,《JustCo》將亞洲地區個人工作者、新創團隊和大型企業做更緊密的連結,串聯與創造更大的人脈網絡,加速台灣人才與企業發展接軌國際,共同構築「亞洲最大創新工作生態系」! 《JustCo》總部位於新加坡,是全世界唯一擁有「亞洲純正血統」的共享辦公空間品牌,迄今為止,在亞洲八個主要城市擁有近40個商務中心,包括新加坡、曼谷、上海、雅加達、首爾、雪梨、墨爾本和最新落腳的台北。合作夥伴包括Dropbox、Hertz、Amazon Web Services、 Mandarin Oriental Taipei 、World Gym等世界知名企業,都是《JustCo》打造亞洲最大創新工作生態系的重要夥伴。 客製化多元複合式空間  跨界合作「小智研發」獨家導入台北據點  落實環保永續 「JustCo宏泰金融中心」是一棟專為不同類型工作者與企業需求所規劃的兩層樓複合式與多樣化空間,超過千坪實用時尚的通透性空間,可沿著充滿現代感的樓梯來去自如,舒適明亮辦公空間內,除了強調隱私所設計的私人電話亭,還有靈活彈性的共同工作區、舒適簡約的交誼空間、多達六間極具設計感的會議室,及精心規劃的飛鏢吧休憩設施。巧妙融入具有台灣風格的多元材料及藝術圖案,包括:玉山牆面、小籠包裝飾燈、珍珠奶茶畫等細節,呈現台灣在地特色文化。除了硬體設備,《JustCo》特別注重共享空間的社群意義,透過可容納多達一百位賓客的活動場地,會員可以參加定期特別策劃的專屬活動和交誼聯會,集結成更大型社群,激發更多可能性與靈感火花。 [...]...

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