Japanese investment firm Itochu is reportedly entering the data center development space, with plans to build around ten facilities in Japan by 2030.

Reports emerged yesterday suggesting that Itochu was seeking to invest several 100 billion yen ($630.6m) by 2030, though a more specific number has yet to be determined.

The facilities will reportedly be built in a number of locations, including Tokyo, Osaka, and Kyushu. The firm plans to lease the data centers to US tech giants.

Itochu is planning somewhere in the region of 50MW of capacity per facility, with new sites reaching operational status annually. Reports said the company plans to eventually sell the data centers to third parties.

Itochu was originally founded in 1858 as a textiles company. The firm currently operates in textiles, machinery, metals, chemicals, foodstuffs, and IT.

Itochu subsidiary, Itochu Techno-Solutions, previously owned a number of data centers in Japan, but sold five of these in 2021. Itochu Techno-Solutions now focuses on operating six data centers in Yokohama, Kobe, Shibuya, and Mejirozaka.

Late last year, Itochu signed a memorandum of understanding (MoU) with Castrol for liquid cooling support.

As part of the MoU, Itochu said it would support market development, commercial pathways, and supply from an energy-centered standpoint, while subsidiary Itochu Techno-Solutions would deliver end-to-end solutions spanning design, implementation, and operations.