Keiyo Butsuryu Co. Ltd. DBA: “Private Box” (Head Office: Kouto-ku, Tokyo Japan; President and CEO: Hiroyuki Fujii) and General Storage Company Limited DBA: “Lock + Store” (Head Office: Chai Chee Lane, Singapore; President and CEO: Helen Ng) have agreed to establish a joint venture company in Tokyo, Japan.
The joint venture company will be established for the purpose of pursuing opportunities in self-storage business.
The new joint venture company will build on Keiyo Butsuryu Co. Ltd. having deep local knowledge of the Japanese self-storage business together with General Storage Company Limited (a wholly-owned subsidiary of Singapore Post Limited, a leading provider of mail, logistics and ecommerce solutions in Singapore and the Asia Pacific region), currently operating and developing self-storage businesses in Singapore, Malaysia and Hong Kong.
Helen Ng, CEO of General Storage Company Limited, said: “Japan is an important market for us. Working together with Keiyo Butsuryu, we will be providing self-storage under the Private Box brand. Given the high population density and income per capital in Japan, we believe there is a growing market and customer demand that we can collaborate to satisfy”
Hiroyuki Fujii, President and CEO of Keiyo Butsuryu Co. Ltd.,said: “The joint venture company could grow to become a leading self-storage company in Japan by utilizing the local knowledge, network and development expertise of Keiyo Butsuryu Co. Ltd., and the strong regional self-storage expertise of General Storage Company. We believe that the key success factors are a large network, comprising with sizable self storage units and well managed facilities.”