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CBRE releases Japan Logistics Occupier Survey 2020

Tokyo | June 16, 2020
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Labor Costs Most Pressing Issue in Logistics Strategy; COVID-19 to Impact Long-Term Demand Growth

 

CBRE today released its 2020 occupier survey on the use of logistics facilities.

Survey Overview:
From March 4 to 19, 2020, CBRE conducted an online survey with companies in Japan that utilize logistics facilities (logistics operators and consignor firms). CBRE received 336 valid responses: 242 from logistics operators and 94 from consignor firms.

Key Findings:

  • Regarding plans to establish a new warehouse or to relocate, among the firms responding that they had a plan, 67% of respondents said they would “increase the floor area” while 52% said they would “increase the number of sites”. Overall, this indicates that tenants are still eager to expand.
  • Regarding the reasons for establishing a new warehouse or relocating, the three most popular answers were “operational efficiency”, “increased volume of goods”, and “obsolescence/usability”. Companies appear to be prioritizing the efficiency and safety of distribution centers, and they are willing to pay a fair price to meet these needs.
  • Regarding the allocation and outlook for costs, although cost structures in the logistics industry vary between sectors and types of business, on average, the highest proportion of costs were for transportation/delivery (34%) and labor (29%). In addition, the vast majority of respondents said that both transportation/delivery costs and labor costs would rise over the next three years. These two costs are likely to put pressure on future earnings.
  • Regarding the impact of technological advances on warehouse operations over the next three years, 80% of respondents answered that image processing, Automated Guided Vehicles (AGVs), and Internet of Things (IoT) (including RFID tags) were all expected to have a major impact. Furthermore, 78% of respondents said that the use of these technologies would cause the number of warehouse staff to decrease. This suggests that companies expect technology to reduce staff numbers, and therefore lower labor costs.
  • In terms of medium- to long-term changes and impact of COVID-19, the most frequent response was “additional inventory” (30%). In the wake of the supply chain disruptions caused by the “corona shock,” companies are preparing for unforeseen circumstances in the future. It is clear that many companies think it is inevitable to increase inventory. In addition, the second most common response was “accelerate automation of warehouse work” (17%). There are still many logistics sites where an increase in distribution volume leads to a rise in labor costs. Companies are hoping that automation will improve margins.

 

For further details, refer to the Japan Logistics Occupier Survey 2020 published by CBRE.
https://www.cbre.co.jp/en/research-reports/industrial-reports

 

Download this news release in PDF format

ABOUT CBRE GROUP, INC.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
Please visit our global website at www.cbre.com or our Japan office website at www.cbre.co.jp/en.
Official Twitter account for Japan: @cbrejapan

DISCLAIMER

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

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