Japan remains one of my favorite real estate markets due to its large size, maturity, low growth expectations, and relatively high yields vs. low interest rates. As an updated reference, here is a list of 50 of the largest Japanese real estate investment trusts (J-REITs) by market cap as of August 2017:
| WSJ | Name | Sector | Market Cap |
| JP/XTKS/8951 | Nippon Building Fund Inc. | Industrial/Office | ¥827,430,010,880 |
| JP/XTKS/8952 | Japan Real Estate Investment Corp. | Industrial/Office | ¥751,539,978,240 |
| JP/XTKS/3462 | Nomura Real Estate Master Fund Inc. | Industrial/Office | ¥638,350,000,128 |
| JP/XTKS/8953 | Japan Retail Fund Investment Corp. | Retail | ¥568,910,020,608 |
| JP/XTKS/8960 | United Urban Investment Corp. | Diversified | ¥486,369,984,512 |
| JP/XTKS/3283 | Nippon Prologis REIT Inc. | Industrial/Office | ¥447,039,995,904 |
| JP/XTKS/8984 | Daiwa House REIT Investment Corp. | Residential | ¥444,470,001,664 |
| JP/XTKS/8954 | Orix JREIT Inc. | Industrial/Office | ¥436,840,005,632 |
| JP/XTKS/3269 | Advance Residence Investment Corp. | Residential | ¥399,599,992,832 |
| JP/XTKS/8955 | Japan Prime Realty Investment Corp. | Industrial/Office | ¥371,970,015,232 |
| JP/XTKS/3281 | GLP J-REIT | Industrial/Office | ¥337,230,004,224 |
| JP/XTKS/8985 | Japan Hotel REIT Investment Corp. | Hotel/Lodging | ¥313,840,009,216 |
| JP/XTKS/3279 | Activia Properties Inc. | Industrial/Office | ¥308,660,011,008 |
| JP/XTKS/8976 | Daiwa Office Investment Corp. | Industrial/Office | ¥271,339,995,136 |
| JP/XTKS/3234 | Mori Hills REIT Investment Corp. | Industrial/Office | ¥240,709,992,448 |
| JP/XTKS/8972 | Kenedix Office Investment Corp. | Industrial/Office | ¥239,290,007,552 |
| JP/XTKS/8961 | Mori Trust Sogo REIT Inc. | Industrial/Office | ¥236,409,995,264 |
| JP/XTKS/8964 | Frontier Real Estate Investment Corp. | Retail | ¥226,670,002,176 |
| JP/XTKS/3226 | Nippon Accommodations Fund Inc. | Residential | ¥213,920,006,144 |
| JP/XTKS/8967 | Japan Logistics Fund Inc. | Industrial/Office | ¥207,059,992,576 |
| JP/XTKS/3292 | Aeon REIT Investment Corp. | Retail | ¥199,739,998,208 |
| JP/XTKS/3249 | Industrial & Infrastructure Fund Investment Corp. | Industrial/Office | ¥199,379,992,576 |
| JP/XTKS/8963 | Invincible Investment Corp. | Hotel/Lodging | ¥191,689,998,336 |
| JP/XTKS/3295 | Hulic REIT Inc. | Industrial/Office | ¥175,559,999,488 |
| JP/XTKS/8987 | Japan Excellent Inc. | Industrial/Office | ¥162,690,007,040 |
| JP/XTKS/8956 | Premier Investment Corp. | Industrial/Office | ¥143,029,993,472 |
| JP/XTKS/8986 | Japan Rental Housing Investments Inc. | Residential | ¥131,200,000,000 |
| JP/XTKS/8957 | Tokyu REIT Inc. | Industrial/Office | ¥130,409,996,288 |
| JP/XTKS/3282 | Comforia Residential REIT Inc. | Residential | ¥129,369,997,312 |
| JP/XTKS/3309 | Sekisui House REIT Inc. | Industrial/Office | ¥126,160,003,072 |
| JP/XTKS/8973 | Sekisui House Residential Investment Corp. | Residential | ¥124,370,001,920 |
| JP/XTKS/8968 | Fukuoka REIT Corp. | Retail | ¥124,300,001,280 |
| JP/XTKS/3453 | Kenedix Retail REIT Corp. | Retail | ¥118,400,000,000 |
| JP/XTKS/3296 | Nippon REIT Investment Corp. | Industrial/Office | ¥114,349,998,080 |
| JP/XTKS/8975 | Ichigo Office REIT Investment Corp. | Industrial/Office | ¥109,860,003,840 |
| JP/XTKS/3287 | Hoshino Resorts REIT Inc. | Hotel/Lodging | ¥98,079,997,952 |
| JP/XTKS/3227 | MCUBS MidCity Investment Corp. | Industrial/Office | ¥96,999,997,440 |
| JP/XTKS/3278 | Kenedix Residential Investment Corp. | Residential | ¥95,649,996,800 |
| JP/XTKS/8966 | Heiwa Real Estate REIT Inc. | Residential | ¥86,769,999,872 |
| JP/XTKS/8958 | Global One Real Estate Investment Corp. | Industrial/Office | ¥84,069,998,592 |
| JP/XTKS/3298 | Invesco Office J-REIT Inc. | Industrial/Office | ¥83,019,997,184 |
| JP/XTKS/8977 | Hankyu REIT Inc. | Diversified | ¥81,620,000,768 |
| JP/XTKS/3290 | One REIT Inc. | Industrial/Office | ¥40,279,998,464 |
| JP/XTKS/8979 | Starts Proceed Investment Corp. | Residential | ¥38,259,998,720 |
| JP/XTKS/3463 | Ichigo Hotel REIT Investment Corp. | Hotel/Lodging | ¥29,390,000,128 |
| JP/XTKS/3459 | Samty Residential Investment Corp. | Residential | ¥24,419,999,744 |
| JP/XTKS/3455 | Healthcare & Medical Investment Corp. | Healthcare | ¥19,700,000,768 |
| JP/XTKS/3451 | Tosei REIT Investment Corp. | Industrial/Office | ¥19,569,999,872 |
| JP/XTKS/3308 | Nippon Healthcare Investment Corp. | Healthcare | ¥12,389,999,616 |
| JP/XTKS/3460 | Japan Senior Living Investment Corp. | Healthcare | ¥12,300,000,256 |
Photo: The Imperial Hotel in Tokyo, Japan in the 1930s and 1940s, Wikipedia