Japan: Mitsubishi, Digital Realty ink data centre JV

Data centre. Credit: Wikimedia Commons

Mitsubishi Corp has advanced its data centre business with a 50:50 joint venture deal with US-based Digital Realty, a global provider of data centre, colocation and interconnection solutions.

Named MC Digital Realty, the joint venture firm will be established in Tokyo to serve the broader Japanese market. It aims to combine Mitsubishi’s global brand recognition and local enterprise expertise with Digital Realty’s global data center platform and operational track record.

Under the deal, Mitsubishi will bring two of its existing data centre facilities in Tokyo while Digital Realty will contribute its recently completed data centre development project in Osaka to the JV.

The three seed assets are collectively valued at approximately $350 million (40 billion Yen).

Digital Realty announced the opening of Digital Osaka 1, its first data centre project in Japan, earlier this year. The facility 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.

Digital Realty senior VP, International Chris Kenney, said the company sees tremendous opportunity for growth in the Asia Pacific region over the next several years.

“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,” Kenney said. “We expect the MC Digital Realty joint venture will significantly enhance our ability to meet the growing data centre demands of the Japanese market.”

Founded in 2001, Digital Realty offers a full range of global data centre, co-location 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.

Also Read:

Japan’s MUFG seeks to spend $900m on acquisitions in Asia, US

Data centre provider Digital Realty eyes M&As, partnerships for Asia growth

CPPIB commits $350m to SG’s Keppel-backed data centre fund, option to invest another

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.