Study on various conditions for forest trust on forestry management:Japanese specialty and generality

2017 Fiscal Year Final Research Report

• Project/Area Number: 15K07501
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Forest science
• Research Institution: Forest Research and Management Organization
• Principal Investigator: OTSUKA IKUMI 国立研究開発法人森林研究・整備機構, 森林総合研究所, 主任研究員 等 (00470112)
• Co-Investigator(Kenkyū-buntansha): 林 雅秀 山形大学, 農学部, 准教授 (30353816) ; 餅田 治之 一般財団法人林業経済研究所, (財)林業経済研究所, 名誉教授 (80282317)
• Co-Investigator(Renkei-kenkyūsha): FUJIKAKE Ichiro 宮崎大学, 農学部, 教授 (90243071) ; AMANO Tomomasa 国立研究開発法人森林研究・整備機構, 森林総合研究所, 主任研究員等 (50353561) ; KOMAKI Takaaki 国立研究開発法人森林研究・整備機構, 森林総合研究所, 主任研究員等 (60353687)
• Research Collaborator: HORI Yasuto
• Project Period (FY): 2015-04-01 – 2018-03-31
• Keywords: 林業経営 / 林業経営組織 / 森林信託 / 森林投資 / TIMO / REIT / 森林制度 / 森林管理

Outline of Final Research Achievements

Downturns in Japanese timber prices are currently discouraging the participation of Japan's forest owners in management practices. In contrast, some corporate entities that actively require a timber supply are engaging in, and even expanding, forest management investment; long-term forest management are also being established. This study aims to clarify the factors regarding main difficulties of the forestry business through the forest trust indicated by major financial institutions. The obstacles that these institutions faced included uncertainty in securing cash flow for forestry projects, a potential shortage of cooperating experts and financial institutions, and instability in the physical status of and rights to the forest properties. In the context of these issues, we describe the conditions affecting the commodification of the forest industry, which has allowed the formation of forest trust active in Japan today.

Free Research Field

森林経済政策