Enex Infrastructure Investment Corp

What Enex Infrastructure Investment Corp does

Enex Infrastructure Investment Corporation (securities code 9286) is a Tokyo Stock Exchange-listed Japanese infrastructure investment fund, established August 3, 2018 and publicly listed in February 2019. The fund invests exclusively in renewable energy power generation facilities—primarily solar photovoltaic installations—with a portfolio of 12 properties totaling approximately ¥102.5 billion in acquisition price and 243.4 MW of generating capacity as of February 25, 2026. Revenue is generated through long-term lease agreements with facility tenants who sell electricity under Japan's Feed-in Tariff (FIT) system, creating stable, government-anchored cash flows that fund semi-annual distributions to unitholders.

The vehicle operates under a sponsor-supported model anchored by Itochu Enex and Maiora Asset Management, which provide deal sourcing and pipeline support, with Enex Asset Management Co., Ltd. (located in the Kasumigaseki Building, Tokyo) executing asset acquisition and portfolio management. As of November 30, 2025, the fund had 527,337 outstanding investment units, ¥40.133 billion in total investment capital, ¥41.110 billion in net assets, and a 42.9% equity ratio; Japan Credit Rating (JCR) assigns a long-term issuer rating of A with stable outlook. Capital has been raised through a series of public offerings (notably ¥20.645B in December 2020 and a combined ~¥16.6B in February and June 2023), with 2025 treasury buyback and unit cancellation activity (20,000 units in May, 9,638 in October) signaling a maturing capital return framework.

The unit holder base is highly dispersed—no single holder exceeds 1.8%—with major institutional holders including Itochu ENEX Corporation, Kyoto Chuo Shinkin Bank, Japan Master Trust Bank Trust Account, and SBI Securities. Banking and custody support is provided by Sumitomo Mitsui Trust Bank and Sumitomo Mitsui Banking Corporation, with Mercuria Investment as a sponsor. All operations, assets, and revenue are domestic to Japan, and the fund does not disclose products or services beyond its single investment vehicle.

Name

Enex Infrastructure Investment Corp

Legal name

Enex Infrastructure Investment Corporation

Website

https://enexinfra.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Enex Infrastructure Investment Corporation is a Tokyo-listed infrastructure fund (securities code 9286) that invests in renewable energy power generation facilities—primarily solar photovoltaic plants in Japan—generating stable long-term lease income under Japan's Feed-in Tariff system for dispersed institutional unitholders.

Ownership category

akta.pro rank

Product category

Infrastructure Investment Fund

NAICS

Other Financial Vehicles (52599), Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239)

SIC

Services-Equipment Rental & Leasing, Nec (7359), Asset-Backed Securities (6189)

akta.pro primary industry

Renewable Energy Infrastructure (FSAAAKAG)

akta.pro secondary industries

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL), Real Assets — Energy & Power Infrastructure (Renewables, Conventional, Storage) (FSAHAIAD)

Keywords

• Renewable energy infrastructure
• Solar power investment
• Infrastructure investment fund
• FIT-based power generation
• Green energy assets

Headquarters

HQ city

Kasumigaseki

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Others

Revenue model

1. Lease income from renewable energy facilities: The company generates revenue by owning renewable energy power generation facilities (primarily solar power plants) and leasing them to tenants. Under Japan's FIT (Feed-in Tariff) system, stable electricity sales revenue is generated, which serves as the source for rent payments from tenants. This creates stable, long-term lease income streams backed by government-subsidized power purchase agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Enex Infrastructure Investment Corp is a Japanese infrastructure investment trust that owns and operates renewable energy power generation facilities—primarily solar photovoltaic plants—and leases them to tenants under Japan's Feed-in Tariff (FIT) system. The corporation generates stable, long-term lease income from electricity sales revenue and distributes semi-annual cash distributions to holders of its investment units. As of February 2026, the portfolio comprises 12 properties with combined acquisition price of approximately 102.5 billion yen and total generating capacity of 243.4 MW.

Product overview

Enex Infrastructure Investment Corp is a single-asset-class Japanese infrastructure investment trust (J-REIT) that operates as a focused renewable energy vehicle. Its investment scope centers exclusively on renewable energy power generation facilities — primarily solar photovoltaic (PV) installations. The portfolio comprises 12 owned assets with a combined acquisition price of approximately 102.5 billion yen and a total generating capacity of 243.4 MW. The REIT does not offer a multi-product platform; its single investment vehicle is managed by Enex Asset Management, which executes acquisition, asset management, and operational oversight of the underlying power generation assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Enex Infrastructure Investment Corporation Investment Units (証券コード:9286) Listed investment units of a publicly traded Japanese infrastructure investment corporation focused exclusively on renewable energy power generation assets (primarily solar PV). Investors acquire units through the Tokyo Stock Exchange and receive semi-annual distributions backed by FIT-supported lease income from the underlying power generation facilities. The product provides institutional and capital market participants exposure to long-term, government-supported renewable energy cash flows.
• Renewable Energy Power Generation Portfolio (Solar PV Facilities) A portfolio of 12 owned solar photovoltaic power generation facilities in Japan with combined generating capacity of 243.4 MW and aggregate acquisition price of approximately 102.5 billion yen. The facilities are leased to tenants who sell electricity under Japan's FIT system, producing the lease revenue that funds distributions to investment unit holders.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Itochu Enex Co., Ltd. (伊藤忠エネクス株式会社)coreStrategic or Co-development PartnerMain sponsor of the investment corporation. Provides strong pipeline support and robust property development capabilities. Leverages the Enex Group's stable property development capabilities and proven track record for sourcing renewable energy infrastructure assets.
• Maiora Asset Management PTE. LTD. (マイオーラ・アセットマネジメント)coreStrategic or Co-development PartnerStrategic partner providing asset management support and pipeline supply. Contributes to the company's property development capabilities alongside the Enex Group.
• Enex Asset Management Co., Ltd. (エネクス・アセットマネジメント株式会社)coreStrategic or Co-development PartnerThe company's asset management company responsible for investment operations, asset acquisition/disposition, and portfolio management. Located at Kasumigaseki Building in Tokyo.

Scale indicators9 records

Recent moves2 records

Expansion highlights4 records

Others

• Itochu Enex Co., Ltd. Main sponsor of Enex Infrastructure Investment Corp and a major Japanese energy distributor. Not a peer for investor capital, but a critical upstream partner — comparable as the parent/ecosystem participant enabling the fund's deal pipeline.
• Mercuria Investment Co., Ltd. Japanese investment and asset management firm that supports Enex Infrastructure as a financial partner. Comparable as a sponsor/ecosystem participant with renewable energy infrastructure capabilities in Japan.
• Maiora Asset Management Pte. Ltd. Strategic partner providing asset management support and pipeline supply to Enex Infrastructure Investment Corp. Comparable as a co-sponsor in the renewable infrastructure ecosystem.

Broad incumbents

• Nippon Prologis REIT: Larger, established J-REIT focused on logistics real estate. While not a renewable energy peer, it represents a comparable listed Japanese income vehicle competing for the same institutional capital allocation.
• Nomura Real Estate Master Fund: Diversified J-REIT with a broad real estate portfolio. Comparable as a listed Japanese yield instrument for income-oriented investors, though it operates outside the renewable energy vertical.
• Infracapital (Greencoat Capital): European infrastructure fund manager with renewable energy and energy transition investments. Useful as a benchmark for institutional-grade renewable infrastructure capital pools, though operating in a different geography.

Direct peers

• Renewable Japan Energy Infrastructure Fund: Japanese renewable energy-focused investment fund with overlapping solar PV infrastructure exposure. Comparable target investors and asset class, though with a different governance and distribution structure.
• Japan Infrastructure Fund Investment Corporation: Japanese infrastructure investment vehicle operating in similar renewable and infrastructure asset categories. Competes for the same institutional and retail yield-seeking investor base in Japan.
• Tokyo Infrastructure Energy Investment Corporation: Listed Japanese infrastructure investment corporation (TSE: 9285) focused on renewable energy and energy infrastructure assets. Closely comparable mandate, structure, and listing venue; the most direct competitor for Japanese renewable energy capital flows.
• Ichigo Green Infrastructure Investment Corporation: TSE-listed infrastructure fund (TSE: 9282) dedicated to renewable energy power generation, primarily solar. Directly competes for yield-seeking Japanese investors seeking exposure to FIT-backed renewable cash flows.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enex Infrastructure Investment Corp