Daiwa House REIT

TSE code : 8984

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Social Initiatives

Initiatives for Local Community

■Local job creation

At some retail properties owned by DHR, local residents are given priority when applying for jobs.

■Support for community activities

Some retail properties owned by DHR host events as one form of support for community activities.

The Asset Manager employees participate in a litter cleanup activity in response to a public park authority’s call for volunteers.

<Reasons for selection>

(1) Located near Hiroshima Station, the land gateway to Hiroshima, the facility is a valuable space that can be utilized as an event square and creates new lively attractions, thereby contributing to the community.

(2) It is highly convenient with the necessary infrastructure for events even though normally it is a quiet space with comfortable breezes. It is built in such a way that event organizers sense the spirit of hospitality.

Learn more about Daiwa House Group’s activities for co-creation with community.

■Investment in existing urban development zones

Daiwa House Group enhances landscapes and local residents’ convenience through investments in properties developed through redevelopment, land readjustment or other such projects.

  • Pacific Royal Court
    Minatomirai Urban Tower

    Pacific Royal Court 
Minatomirai Urban Tower
  • D Project Kuki Ⅰ, Ⅱ, Ⅲ, Ⅳ, Ⅴ, Ⅶ
    FOLEO Shobu

    D Project Kuki Ⅰ, Ⅱ, Ⅲ, Ⅳ, Ⅴ, Ⅶ

The city of Shinkamagaya, where ACROSSMALL Shinkamagaya is located, registers as “emergency communal wells” the wells that can provide well water to local residents when tap water supply is cut off in the event of a major earthquake or other disasters.
DHR supports this program and has registered ACROSSMALL Shinkamagaya’s groundwater supply source as an emergency communal well.

  • ACROSSMALL Shinkamagaya
    ACROSSMALL Shinkamagaya

■Facilities for Senior Citizens

DHR invests in and owns facilities and housing (assisted living facilities, paid nursing homes, etc.) for senior citizens, which must be developed and expanded to address the progression of the aging society in Japan and for which there will continue to be a certain level of demand. In so doing, we aim to realize a society in which people can live with peace of mind.

■Childcare Facilities

In June 2017, the Japanese government established the Plan for Raising Children with Peace of Mind and announced a policy for addressing the long waiting lists for childcare. DHR invites childcare facilities such as nursery schools and daycare centers to the properties as tenants to support child rearing.

Socially Conscious Initiatives

DHR promotes socially conscious facilities and services at its properties.

  • Accessible restroom
    Accessible restroom
  • Accessible elevator
    Accessible elevator
  • Accessible parking space
    Accessible parking space
  • Bicycle rental
    Bicycle rental
  • AED

■Health and Well-being

■Health and Welfare

DHR contributes to the health and well-being of its tenants and users by equipping its properties with amenities such as workout gym.

  • Workout gym
    Workout gym
  • Lounge
  • Play space for children
    Play space for children

■Safety and well-being

DHR enhances public spaces at some properties owned by DHR by installing and maintaining public squares and pedestrian walkways to promote safety and well-being.

  • Naha Shin-Toshin Center Building
    (Daiwa Roynet Hotel Naha-Omoromachi)

     Naha Shin-Toshin Center Building
(Daiwa Roynet Hotel Naha-Omoromachi)

■Community-related violations and accidents

There were neither significant community-related violations nor accidents at DHR-owned properties that would affect stakeholders in FY ended Mar. 2020.

Initiatives for Tenants and Supply Chain

■Tenant Engagement Programs

DHR promotes environmental initiatives in collaboration with tenants of its properties. At some properties, DHR regularly confers with tenants in the aim of sharing environmental information and reduction targets. Furthermore, initiatives are underway to increase awareness of environmental issues through distribution and posting of the sustainability guide.

■Initiatives to Increase Tenant Satisfaction

DHR conducts surveys to grasp tenants’ needs and satisfaction in the belief that increasing tenant satisfaction leads to stable and improved property-operating performance. The questionnaire results are shared with property management companies and used to improve building and facility specifications and services.
In a questionnaire given to the residents of 109 residential properties (6,946 units) in February 2021, around 80% of tenants said that they were “highly satisfied” or “satisfied” with the property overall, and in response to whether they would recommend the property to others, around 81% of tenants said that they would “definitely recommend” or “recommend” it.

■Supply Chain Management

The Asset Manager has established Sustainable Procurement Policy as one of policies to implement individual directives listed in the Sustainability Policy. The Policy pertains to criteria for selecting products and services and selecting and evaluating suppliers (e.g., property management companies, service providers, goods suppliers). The Policy requires suppliers, in addition to promoting green procurement, to respect the human rights of officers and employees, to promote diversity in human resources and work-life balance, as well as to maintain policies and systems related to corporate ethics, such as the prevention of fraud and corruption.

Learn more about Daiwa House Group’s CSR initiatives for suppliers.

■Supplier-related violations and accidents

There were neither significant supplier-related violations nor accidents at DHR-owned properties that would affect stakeholders in FY ended Mar. 2020.

Initiatives for Employees

■Policy on and Approach to Human Resources Development

As stated in its Company Philosophy (Corporate Creed), the Daiwa House Group aims to “develop people through business.” We believe that human resources are the group’s greatest assets. To take advantage of the abilities and unique talents of our employees and develop human resources capable of contributing to society, we implement various training and programs that combine on-the-job and off-the-job training.

For details on the Daiwa House Group’s approach and policies regarding human resources development, follow this link.

■New Employee Training Program

To help new employees acquire operational knowledge as quickly as possible, the Asset Manager provides training on the following topics:

● Explanation of the operations of each department ● Compliance ● Insider trading regulations ● Human rights ● System-related risks ● Email use
● Etiquette ● Disaster prevention/crisis management ● CSR ● Basic knowledge related to buildings ● Basic knowledge related to J-REIT, etc.

■Training on Operational Expertise

The Asset Manager provides training on the topics below to officers and employees (including fixed-term employees, temporary employees and part-time employees).

Item Fiscal year ended
March 2018
Fiscal year ended
March 2019
Fiscal year ended
March 2020
Fiscal year ended
March 2021
Compliance training 7 times 8 times 9 times 12 times
Sustainability training 1 time 1 time 1 time 1 time
Information security training 2 times 2 times 2 times 2 times
Training for managers and above 0 times 0 times 1 time 0 times
Training for senior managers and group leaders 0 times 0 times 1 time 0 times
Real estate market training 4 times 5 times 5 times 5 times
New employee training 5 times 3 times 4 times 5 times
Other training 3 times 4 times 4 times 18 times
Architectural training 18 times 0 times 0 times 19 times

■Active Roles Played by Older Employees

The Asset Manager promotes a system of re-hiring employees 60 years of age and older and is working toward the succession of expertise and the growth of future generations by employing persons with expert knowledge for the long-term.

■Office Environment Improvement

Seeking to provide a pleasant workplace environment for all officers and employees, the Asset Manager have introduced and installed the following:

● Telecommuting system ● Loan laptop computers, mobile routers, and displays to employees
● System for choosing working hours ● Multiple large humidifiers ● Large monitors in each conference room

■Initiatives for Officers and Employees

The Asset Manager sets up an internal program to promote sustainability and endeavors to develop its human resources by regularly conducting education and training sessions for officers and employees. Additionally, it aims to create workplaces where a diverse group of officers and employees can work safely, healthily and flexibly.

■Labor/Management Relations

Labor-management relations at the Asset Manager have been harmonious, and there have been no large-scale mergers, acquisitions, or layoffs in the past three years.
In addition, the Asset Manager has entered into a labor-management agreement on overtime work (36 Agreement) with its employees, and strived to maintain the health of its employees by appropriately managing working hours.

■Officers and Employees’ Violations/Accidents

There were no significant violations committed by or accidents involving the Asset Manager’s officers and employees that would influence stakeholders. (Fiscal year ended March 2021)

■Target Management and Performance Evaluation Program

The Asset Manager runs a target management and performance evaluation program to (1) foster communication between superiors and subordinates, (2) strengthen human resource development, (3) increase motivation with respect to roles and results (performance), and (4) clarify evaluation criteria and gain better understanding of evaluations. Employee performance evaluations are determined by evaluation of performance benchmarked against individualized targets, evaluation of skills/ conduct and a compliance evaluation. The issues for improvement are shared through the performance review and follow-up interviews. Additionally, “ESG initiatives in response to societal demands” was added as a performance evaluation criterion from the second half of fiscal year ended March 2019.

■Support for Operational Skills Development and Training

The Asset Manager has established a system for providing funding for the registration and renewal of professional qualifications and a system for providing congratulatory payments for acquiring professional qualifications to encourage the acquisition of knowledge, qualifications, and licenses. The purpose is to increase the motivation of all employees (including fixed-term employees, temporary employees, and part-time employees) with respect to self-development, improve their abilities and talents, continuously and steadily secure human resources with the specialized skills necessary to contribute to the achievement of business objectives, and assess the environmental friendliness of DHR’s properties.

Number of the Asset Manager’s employees with qualifications (Total of 66 officers and employees as of March 31, 2021)

Item Number of people with qualifications (*)
ARES (Association for Real Estate Securitization) Certified Master 26
Real Estate Transaction Agent 58
Real Estate Appraiser 2
First-Class Architect 2
Certified Real Estate Consulting Master 5
Office Building Manager 9
TOEIC score of 700+ 8
CASBEE Accredited Professional for Buildings 2
CASBEE Accredited Professional for Real Estate 1

*Includes personnel who have passed the credentialing exam but are not yet credentialed.

■Human Rights Policy and Approach

The Daiwa House Group Principles of Corporate Ethics stipulate “We respect basic human rights and the dignity of all people, and do not discriminate against anyone on the grounds of race, nationality, ethnicity, gender, sexual orientation, sexual identity, disability, age, creed, or social status.” In January 2018, the group established the Human Rights Policy of Daiwa House Group with understanding the corporate responsibility of respecting human rights as set forth in the UN Guiding Principles on Business and Human Rights. After receiving advice from outside experts, this policy was established by resolution of the Daiwa House Board of Directors in December 2017.

■Training Program

The Daiwa House Group establishes every April a policy on human rights educational activities in the name of the Daiwa House president. All employees of the Daiwa House Group are required to participate in at least one training session per year so that each employee is able to engage in business activities with respect for the dignity and basic human rights of various stakeholders.


Since 2004, the Daiwa House Group has been operating a hotline for in-house whistleblowing and consultation, while implementing regulations to protect whistleblowers (current Daiwa House Group Internal Reporting Regulations). The hotline is available and the regulations are applicable to all group employees regardless of their type of employment. In 2020, the service was renamed the “Corporate Ethics and Human Rights Hotline.” The hotline accepts not only reports of suspected or confirmed cases of breach but also reports of, and request for help and advice on, a variety of workplace- or human rightsrelated problems, thereby contributing to early detection and resolution of such problems.
In the process of working toward resolution, whistleblowing is accepted under anonymity. In the factual confirmation and investigation, privacy of not only the consulter but also employee(s) in question and third parties who cooperate in the investigation is respected. Along with such actions, hearings are held with the parties involved under strict confidentiality, and appropriate measures are taken to prevent recurrence. Once the problem has been resolved, a follow-up investigation is carried out to ensure, in some cases, that the reporter will not be subject to retaliatory treatment or that improvements have been made, thus always protecting hotline users.
As measures for recurrence prevention, information is shared among related worksites and departments via the persons in charge of the hotline at worksites to raise general awareness of the risks. Training programs are also organized to draw attention to such issues. In addition, points of contact for consultation for group employees have been put in place at the Sustainability Planning, Legal, and Human Resources Departments of Daiwa House, facilitating the detection of legal irregularities, violations of human rights, workplace problems, and the like. Several contact points are available within the company to lower the psychological barrier that employees may feel about reporting or seeking advice, thus easing the way for them to reach out at an early stage.
In addition, as with the Corporate Ethics and Human Rights Hotline, we accept issues relating to human rights via the Partners Hotline, which is a whistleblowing system for reports from business partners concerning the relationship between Daiwa House Group employees and business partners.

■Total Number of Cases of Discrimination and Corrective Actions Implemented

At the branches and group companies of Daiwa House, human rights awareness-raising promoters are assigned to create a system to immediately respond to and report individual human rights problems. As for harassment, a sexual harassment prevention expert who is of a different gender than the human rights awareness-raising promoter is selected for each branch for easier access to consultation. In the fiscal year ended March 2020, there were 22 reports received from the branches of Daiwa House, and none of these were determined not to require relief.

*In addition to reporting to the main organization, we operate the Corporate Ethics and Human Rights Hotline, an internal whistleblowing and consultation contact point for employees, and provide consultation on harassment issues.

■Diversity and Inclusion

The Daiwa House Group is actively promoting the creation of workplaces in which diverse employees can work flexibly.

For details on the Daiwa House Group’s efforts to utilize diverse human resources, follow this link.

■Sustainability Survey for Employees

The Asset Manager recognizes human resources as its greatest asset and participates in the Sustainability Survey (formerly CSR Awareness Survey) conducted by the Daiwa House Group every year to verify how well the Principles of Corporate Ethics and Code of Conduct are being practiced in the workplace and the employment satisfaction level (100% response rate). The Asset Manager explains the survey results to officers and employees (including fixed-term employees, temporary employees and part-time employees), gives feedback, and encourages them to build a better workplace environment.

*Surveys and analyses are outsourced to third-party institutions.

■Establishment of Health Committee

The Asset Manager has established a Health Committee that meets monthly to exchange opinions on the workplace environment and learn about health with the industrial physician in order to prevent health problems among officers and employees and maintain and promote their health.
In addition, stress checks are conducted for the purpose of preventing mental disorders.

■Personnel Data

Item Fiscal year ended
March 2018
Fiscal year ended
March 2019
Fiscal year ended
March 2020
Fiscal year ended
March 2021
Top personnel *1 59 61 60 59
Male personnel / percentage of total 44 / 74.6% 43 / 70.5% 42 / 70.0% 40 / 67.8%
Female personnel / percentage of total 15 / 25.4% 18 / 29.5% 18 / 30.0% 19 / 32.2%
Manager *1 *2 24 21 22 27
Male personnel / percentage of total 24 / 100.0% 21 / 100.0% 21 / 95.5% 24 / 88.9%
Female personnel / percentage of total 0 / 0.0% 0 / 0.0% 1 / 4.5% 3 / 11.1%
New hires 8 2 2 13
Job leavers 0 1 7 2
Turnover *3 0.0% 1.6% 11.7% 3.4%
Monthly average overtime hours 13.7 hours 12.0 hours 12.8 hours 13.6 hours
Average tenure 4.4 years 5.0 years 5.5 years 5.1 years
Average days of annual paid vacation taken /
paid vacation usage rate
12.2 days / 68.1% 12.7 days / 68.6% 12.5 days / 66.3% 13.1 days / 71.7%
Percentage of personnel who had health checkup 100.0% 100.0% 100.0% 100.0%
Occupational accident frequency rate *4 0.0% 0.0% 0.0% 0.0%
  • *1 Headcounts are as of April 1 of each fiscal year.
  • *2 Senior manager and above.
  • *3 Turnover is the ratio of job leavers to total personnel using total personnel as of April 1 of each fiscal year.
  • *4 Occupational accident frequency rate = (occupational injuries/fatalities ÷ total man-hours worked) × 1,000,000

■Paying Fair Wages

The Asset Manager has established an evaluation-linked monetary compensation system by post classification and conducted appropriate assessments of performance. Bonuses are paid twice a year in the summer and the winter, and the amount is determined according to work performance. In the fiscal year ended March 2021, the average annual salary paid by the Asset Manager was 10,251,000 yen*.

*Average for full-time employees not including officers, fixed-term employees or employees on external assignment

■Benefits and Welfare

The Daiwa House Group recognizes the importance of promoting good health among its workforce and thereby improving labor productivity through consistent measures to eliminate excessively long working hours and help employees manage their health. Based on such recognition, the Asset Manager has introduced employee leave/vacation programs such as the following in addition to celebratory event leave, bereavement leave, maternity/paternity leave, parental leave*, child caregiving leave and elder caregiving leave *.

*Contract workers can also take advantage of these programs.

Item Description
Special paid vacation Up to five days per year separately from annual paid vacation to promote employees’ health, etc.
Accumulated paid vacation Unused annual paid vacation days accumulate up to 20 days per year to a maximum of 100 days. Employees may use their accumulated paid vacation days as personal injury/sick leave, maternity/paternity leave, family caregiving leave or community co-creation leave
Family caregiving leave Five days per year to care for ill family members (paid leave)
Community co-creation leave Five days per year to participate in activities that contribute to society, training for such activities, etc. (paid leave)

■Introduction of Cumulative Investment Unit Investment Program

In December 2013, the Asset Manager introduced a cumulative investment unit investment program in the aim of increasing the price of DHR investment units and further improving growth of DHR and medium- to long-term investor value by having officers and employees of the Asset Manager pay close attention to investment unit prices of DHR and raising their awareness of performance.

■Introduction of Investment Unit Ownership Program

In November 2019, the Asset Manager introduced an investment unit ownership program of DHR for its officers and employees in response to the Japan Securities Dealers Association’s issuance of guidelines on investment unit ownership programs in May 2018.

Daiwa House introduced an investment unit ownership program of DHR for its officers in November 2018, and for its employees in June 2020.

■Human Resources Dispatched from Sponsor

The Asset Manager has received from the sponsor human resources with a wealth of experience in areas such as real estate sales transactions, leasing, property management, finance and IT system operations.

For details on the Daiwa House Group’s approach and policies regarding human resources development, follow this link.

Investor Relations Initiatives

DHR endeavors to ensure transparency in its asset management operations and disclose information that is easy to understand from the investor’s perspective in a fair, timely, and accurate manner so that investors can make investment decisions in accord with the principle of self-responsibility. DHR discloses information in compliance with the Financial Instruments and Exchange Act, Investment Trusts Act, and disclosure rules prescribed by the Tokyo Stock Exchange, Investment Trusts Association, Japan, etc. It also endeavors to proactively disclose even information not legally or otherwise required for disclosure if the information is deemed likely to influence investors’ investment decisions. Disclosure documents are posted on DHR’s website. Furthermore, DHR implements the following initiatives:

(1) DHR provides IR News Mail Service to notify registered person by email of updates posted on DHR’s website.
(2) In order to monitor the appropriateness of timely disclosure operations, the Compliance Department of the Asset Manager verifies the disclosure materials along with the time, date, and method of disclosure, and other relevant items immediately following timely disclosure. The result is then reported to the DHR Board of Directors.
(3) By actively participating in presentation meetings for individual investors, DHR will provide the information necessary for investment decisions in an easy-to-understand manner.

≫Completed IR activities (including online meetings and telephone/web conferences)(April 2020-March 2021)

Results briefings for domestic institutional investors and analysts 2 times
IR meetings for domestic institutional investors and analysts 133 times
IR meetings for overseas institutional investors 42 times
Presentation meetings for individual investors 1 time
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