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Employee Initiatives

Our Management Policies

We, Japan Real Estate Asset Management (“JRE-AM”), as an asset management company of Japan Real Estate Investment Corporation, uphold the following four management policies:

1. To be an asset management company highly trusted by investors.
2. To continually provide high-quality asset management services in tune with investors’ needs.
3. To endeavor to achieve sufficient returns for investors.
4. To maintain the transparency of our asset management activities through timely and pertinent information disclosures.

Our Sustainability & HR Policies

In our Sustainability Policy (http://www.j-rea.co.jp/en/sustainability/index.html), we stipulate “initiatives aimed at officers and employees” as one of the most important issues to undertake.
In order to achieve quality asset management under these policies, we believe it is essential to recruit talented personnel, develop each member's ability and promote a healthy working environment. We will continually work on human capital development, as well as employee health and well-being to foster talent as the industry front-runner.

Human Capital Development

■Talent Pipeline & Development Strategy

We have access to professionals who have extensive experience and expertise in real estate investment and real estate asset management as seconded staff members from our shareholders Mitsubishi Estate Co., Ltd. and Mitsui & Co., Ltd. Also, we recruit experienced, talented individuals and offer them a wide range of training programs and strategic job rotation opportunities to support enhancing their skills and career development.

■Learning and Development for All Employees

Based on the idea that all employees should be professionals with a high degree of specialization, we encourage all our employees, i.e., permanent employees, contract employees, and seconded employees, to participate in a variety of training programs.
We provide our own training programs that are associated with the REIT industry, compliance, etc. designed to augment their skills and deepen their professionalism. In addition, we encourage our employees to participate in a variety of training programs offered by the sponsors.

* Please refer to the following websites for details on our sponsors' personnel development systems.
Mitsubishi Estate: http://www.mec.co.jp/e/csr/employees/index.html
Mitsui & Co.: https://www.mitsui.com/jp/en/sustainability/activity_report/governance/resources/index.html

・Support for career enrichment, qualifications, and licenses

For all our employees, we subsidize the expenses of various training programs or sessions such as fund management, logical thinking skills, financial accounting, organizational management, coaching, compliance, etc. In addition, we also subsidize the expenses of obtaining qualifications and licenses such as ARES Certified Master, Certified Building Administrator, Real Estate Sales Person License, etc.

・Advanced Leadership Development

We support employees who have the strong motivation and willingness to expand their overall managerial capacity. Some managers participate in management training provided by the sponsors such as Next Generation Foresight Seminars, Management Seminars, Legal Seminars for Affiliates’ Officers, Compliance Seminars for Supervisors, etc. For senior management and all board members, including external directors and auditing officers, we periodically invite external experts to lecture on up-to-date knowledge of laws, such as the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations.

・Compliance

We provide all employees with compliance training programs to promote a high degree of awareness of business ethics throughout the company and to ensure that all employees have the necessary skills and information available to them to ensure that work practices remain in compliance.

Training Hours and Training Expenses

  Total training hours per
year
Training hours per
employee
Training expenses per
employee
FY2018 1,079.8 hours 23.0 hours per year ¥31,880 per year
FY2017 353.6 hours 9.6 hours per year ¥34,647 per year
FY2016 727.2 hours 20.2 hours per year ¥82,651 per year

■Fair Performance Evaluation and Remuneration

The goals of conducting the appraisal process are not limited to meeting management objectives but also to promote talent development through the appraisal process.
At the beginning of the fiscal year, each employee set their own targets with advice from their managers, and bonuses are paid based on the degree of achievement of those targets.
Employees receive comprehensive feedback on their performance and specific contributions through the Semi-annual Follow-up Meeting and the Final Appraisal Meeting.

Employee Health and Well-being

We believe that the physical and mental health of employees is essential for the sustainable growth of our corporate value. Based on this understanding, we implement various measures to promote the physical and mental health of employees and help them achieve a good work-life balance.

■Creating Productive and Employee-friendly Workplace

・Office relocation to Otemachi Park Building

We moved to our new office at Otemachi Park Building in December 2017. Otemachi Park Building is a state-of-the-art building aiming to offer an employee-friendly workplace that reforms working styles and improves creativity and productivity of workers featuring advanced energy efficient facilities, BCP functions, and facilities focused on coexistence with the environment. Equipped with a designated lounge space for tenants with a fitness room, nap room, shower room, etc., in addition to a nursery and a community plaza with natural greenery that is designed with consideration for biodiversity.

・Office Design Promoting Internal Communication

Coinciding with its office relocation, we have shifted to a free-address work environment. The new office features a spacious communal area and various types of furniture such as standing desks and balance chairs. Healthy drinks such as vegetable juices and yogurt drinks are available for free as well. We aim to create an environment that facilitates communications and work-style reforms as we believe they are keys to improving productivity.

office・design

* Our office was selected for the “DSA Design Space Award 2018” by the Japan Design Space Association.
For more details on DSA Design Space Award, please refer to the following web site.
http://www.dsa.or.jp/design/english/award/index_en.html

・Introduction of flex-time working hours for all employees

Each employee can schedule their daily working hours outside of our core business hours (within a range of two to four hours), subject to working the monthly total working hours as determined by the company. With this working system, we support each employee in achieving a better work-life balance so that each employee can fulfill their responsibilities in their personal lives and maximize their potential, as well as play a greater role in their work.

・Provision of access to healthy foods and beverages

As a member of the Mitsubishi Estate Group, all employees can use the employee cafeteria of Mitsubishi Estate which provides nutritional food choices. In addition, in our office, we serve healthy drinks free of charge to all employees.

・Health Consultation Desk

We have made a contract with an industrial physician out of consideration for our employees’ mental and physical health. The industrial physician provides health consultations and stress checks for employees who have concerns about their health or the amount of overtime they are working beyond certain standards set by law. The industrial physician also judges whether an employee needs a leave of absence or is able to return to work. Also, as a member of Mitsubishi Estate Group, all employees can access the health consultation desk of Mitsubishi Estate for not only work-related problems but also concerning issues that they are hesitant to discuss with other people, such as family or human relationship problems.

・Subsidies for medical checkups and influenza vaccinations

With the aim of maintaining and improving each employee’s health, we subsidize the expenses of influenza vaccinations, etc. besides annual check-ups.

・Other employee welfare and benefits

JRE-AM has established a wide range of employee benefit programs for all employees.
Examples:

・Childcare leave
・Familycare leave
・Nursing care leave of absence for children (few days leave permitted per year to nurse sick children)
・Nursing care leave of absence for family (few days leave permitted per year to nurse elderly)
・Shortened work hours for childcare
・Shortened work hours for nursing care
・Long-service leave system (special leave/monetary award is given in recognition of long service)
・Employee award system
・Monetary gifts for congratulations, condolences, etc.
・Service provided by an employee benefits services company

■Actual usage of childcare leave, etc.

  Number of employees who
took childcare leave
Number of employees who
took nursing care leave
Number of employees who
used shortened work hours
FY2018 Male 0 0 0
Female 1 0 0
FY2017 Male 0 0 0
Female 2 0 1
FY2016 Male 0 0 0
Female 1 0 1

* 100% of employees who have taken childcare leave returned to work and remained at work for 12 months thereafter.

Creating Fair Work Environments

■Communication with Employees

We implement the following measures to foster an open and efficient communication environment among all employees.

・Satisfaction Survey

We believe that hearing the frank and honest opinions of employees is indispensable for creating a good work environment. In accordance with this recognition, the HR department regularly conducts the Employee Satisfaction Survey* and interviews employees in order to improving working environments.

* The Employee Satisfaction Survey is conducted on condition of anonymity in order to collect frank and honest opinions. The survey results are shared with the CEO and all employees, and the data is utilized for improvement activities.

・Anti-harassment

We conduct anti-power harassment and anti-sexual harassment training regularly to raise awareness, and provide employees with the tools and guidance they need to identify, prevent and remove sexual/power harassment from the workplace. Furthermore, we keep everyone informed about the existence of the compliance hotline.

・Support for promoting a strong team culture

We provide a certain amount of subsidies for expenses related to employee social gatherings, such as welcome parties and year-end parties, to support building and maintaining a strong team culture among employees. We believe it helps not only with creating a comfortable work environment but also strengthening the company’s competitiveness through open communication.

・Employee hotlines & grievance reporting

For the purpose of empowering staff, uncovering risks/problems, and increasing workplace satisfaction, all employees can consult with either the GM of the Compliance Department, a legal advisory firm, or an external specialist organization on such matters as work problems, grievances, improvement requests, and whistleblowing on illegal/unethical behavior by officers and employees. Every employee can access the above hotlines at any time and consultations can be made anonymously, and whistleblowers are given protection under the Whistleblower Protection Act or the equivalent. If deemed necessary, the contact point will report the details of the consultation to the Representative Director, and the Representative Director will conduct an investigation in consideration of the human rights of the employees and take the measures necessary for resolution of the issue.

・Disclosure

We disclose the following information to the employees from the viewpoint of ensuring transparency: Records of use of entertainment expenses, receiving entertainment, hours of overtime work, the consumption rate of paid leave, and training hours.

Basic employee data

As of the end of previous fiscal year
  Full-time
employees
Contract
employees
Seconded staff Total number of
employees
[Reference]
Temporary
dispatched staff
Male 7 0 16 23 0
Female 6 9 3 18 5
  Number of employees who
newly joined the company
Number of employees who
left the company
Employee turnover rate
FY2018 3 2 5.0%
FY2017 3 2 5.4%
FY2016 6 2 6.1%

* The number of employees who newly joined/left the company does not include transfers of seconded employees.

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