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Digital Realty and Mitsubishi Corporation announce joint venture in Japan
Oct. 25, 2017
Mitsubishi Corporation
JapanFollow
JapanDigital Realty, a global provider of data centre, colocation and interconnection solutions, announced that it has entered into a 50/50 joint venture with Mitsubishi Corporation to provide data centre solutions in Japan. The new joint venture will benefit from Mitsubishi Corporation's local enterprise expertise and established data center presence in Tokyo, as well as Digital Realty's global client base and industry-leading track record of data centre operational excellence.
The joint venture will operate under the name MC Digital Realty. Mitsubishi Corporation will contribute two existing data centre facilities in the western Tokyo suburb of Mitaka, while Digital Realty will contribute its recently completed data centre development project in Osaka. The three seed assets are collectively valued at approximately 40 billion Japanese Yen, or approximately $350 million. The joint venture aims to build a meaningful platform to serve the broader Japanese market, with the potential to significantly expand its scope over the next several years.
"We are delighted to be partnering with an institution of Mitsubishi Corporation's global prestige and local expertise, and to be establishing a presence in Tokyo," said A. William Stein, Digital Realty's Chief Executive Officer. "Japan is a highly strategic country for Digital Realty's global data centre platform, and this relationship with Mitsubishi Corporation represents a major step towards strengthening our presence in Japan."
Digital Realty announced the opening of Digital Osaka 1, its first data centre project in Japan, earlier this year. Digital Osaka 1 spans approximately 93,000 square feet, provides 7.6 megawatts of IT capacity, and was fully leased prior to the official opening. Concurrent with the opening of Digital Osaka 1, Digital Realty also announced the acquisition of an adjacent land parcel for the future development of a connected campus in Osaka, which will support up to 27 megawatts of additional IT capacity upon completion.
"Japan is a developed market, with a highly advanced technology sector that is expected to experience rapid growth over the next several years, yet the local data centre market remains highly fragmented with a shortage of institutional quality data centre capacity," said Chris Kenney, Digital Realty's Senior Vice President, International. "We see tremendous opportunity for growth in the Asia Pacific region over the next several years, and we expect the MC Digital Realty joint venture will significantly enhance our ability to meet the growing data centre demands of the Japanese market."
Digital Realty offers a full range of global data centre, colocation and interconnection solutions, and currently owns and operates 157 properties across 33 global metropolitan areas. In the Asia Pacific region, Digital Realty operates a network of industry-leading data centres located in Singapore, Hong Kong, Osaka, Melbourne and Sydney.
Source: PRNewswire
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