TRIFORCE INVESTMENTS AcquiresGeneral Storage Company

Expanding its business in the ASEAN market

Mitsuuroko Group Holdings announced on September 2nd, 2021, that its wholly-owned subsidiary, TRIFORCE INVESTMENTS, has 100% acquired General Storage Company (GSC) in Singapore. GSC was purchased for the aggregate value of ¥6.9 billion. Established in 2010, GSC began its operations in Singapore and is considered one of the pioneers of the self-storage industry in Asia. Under its brand Lock+Store, the company has grown to become one of the largest self-storage operations in the Asia, where they operate 18 facilities in Singapore, Malaysia, and Hong Kong, in addition to providing warehousing facilities and serviced offices.

Founded in 1886, Mitsuuroko, a listed company on the Tokyo Stock Exchange, aims to continually provide new value to all aspects of people’s lives and to further produce innovative and secure services to its customers. Therefore, this achievement marks a significant milestone in Mitsuuroko’s entry into Asia’s self-storage industry. With the acquisition of GSC and its management team, Mitsuuroko seeks to offer unique value add to the local communities and businesses in the Asia Pacific region and be at the forefront of structural changes to the global economy. “Together with GSC’s existing management team, we look forward to build on its achievements and help the company expand and gain greater market share in Asia” said Tajima Kohei, President and CEO of Mitsuuroko.

The increased popularity of smaller homes, and with it a change in lifestyle, has created a strong demand for personal storage. At the same time, e-commerce and the digitalization of businesses has driven corporate users to shift towards more flexible storage not commonly provided with traditional warehouse services positioning both GSC and Mitsuuroko at the forefront of a blooming market.