Optimizing the cost structure

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Tokyo office market Q2 2020 Review and Outlook

For 2020, Tokyo should still benefit from a better buffer of low vacancy and high precommitment rates. However, as more occupiers shifting in favour of fixed cost reduction, we expect a modest rise in vacancy in existing buildings leading to downward pressures on rent.


Optimizing the cost structure

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Mari Kumagai

Senior Director


Mari joined Colliers International Japan as Senior Director, Research - Asia in July 2018. She is responsible for driving a more integrated, client-centric, and forward-looking research approach for the benefit of clients and Colliers professionals for her coverage related to Japanese property markets.  Previously, Mari served as senior analyst at Morningstar, Moody's Investor Services, Citigtoup Global Markets, and Merrill Lynch.

After four years in statutory tax auditing , Mari has over 18 years of research experience – in equity/credit analysis and strategic research covering  Japanese banks and property sectors as both buy-side and sell-side research analyst for global institutional investors.  She has worked in California and Tokyo and fully bilingual in English and Japanese.

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