Daiwa House and Financial Partners Complete Public Offering for JPY 7.73bn Real Estate Security Token Series

A consortium led by Daiwa House Industry and its asset management unit, alongside key financial sector partners including SMBC Nikko Securities, Tokai Tokyo Securities, Juroku TT Securities, SMBC Trust Bank, and Sumitomo Mitsui Banking Corporation (SMBC), announced the successful public offering and issuance of a new real estate security token (ST).

The offering, titled "Daiwa House Logi Token - Kadoma/Tomisato (Digital Name Transfer Method)," securitizes beneficial interests in a real estate trust backed by two tenant-dedicated logistics facilities: "D Project Kadoma IV" and "D Project Tomisato".

Key Deal Terms & Financial Structure

• Total Appraised Asset Value: ¥15.58 billion (as of May 31, 2026)
• Total Offering Amount: Approximately ¥7.73 billion across 77,310 units
• Underlying Assets: Trust beneficiary rights in two specialized logistics properties developed under Daiwa House's flagship "D Project" brand
• Standard Operational Term: Approximately 5 years (subject to early redemption or up to a 2-year extension at the asset manager’s discretion)
• Issuer / Trust Entities: DPLT LLC (Settlor/SPC); SMBC Trust Bank (Trustee)
• Asset Manager: Daiwa House Real Estate Investment Advisory
• Underwriters: SMBC Nikko Securities, Tokai Tokyo Securities
• Distributors: SMBC Nikko Securities, Tokai Tokyo Securities, Juroku TT Securities
• Lender: Sumitomo Mitsui Banking Corporation
• Platform Provider: ibet for Fin Consortium

Strategic Rationale & Secondary Market Expansion

The digital security structure leverages blockchain technology, enabling retail investors to gain fractional exposure to large-scale, income-generating industrial real estate assets across diversified geographic locations.

To bolster liquidity and trading accessibility, application plans have been outlined to list the tokens on "START," Japan's premier proprietary trading system (PTS) for security tokens operated by the Osaka Digital Exchange.

The transaction reflects growing momentum in Japan’s Security Token Offering (STO) market. Financial institution partners highlighted that the issuance serves expanding demand for alternative asset classes among individual investors, supported by enhanced distribution networks—including regional entries such as Juroku TT Securities.

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Japan FinTech ObserverNorbert Gehrke