Prologis Inc was formed in 1983. The Company is engaged in logistics real estate in markets across the Americas, Europe and Asia. At December 31, 2015, it owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 669 million square feet (62 million square meters) in 20 countries. It leases modern distribution facilities to a diverse base of more than 5,200 customers across two categories: business-to-business and retail/online fulfillment. For business-to-business enterprises, its buildings serve a variety of sectors, including automotive, transportation, pharmaceuticals and general consumer goods. In the area of retail/online fulfillment, its logistics facilities foster the seamless flow of goods around the world. The Company's business comprises two operating segments - Real Estate Operations and Strategic Capital. Real Estate Operations comprises of Rental Operations & Capital Deployment. Rental operations segment collects rent from the Company's customers through operating leases, including reimbursements for the property operating costs. It expects to generate long-term internal growth by maintaining high occupancy rates, controlling expenses and increasing rents. Capital deployment includes the development, redevelopment and acquisition of industrial properties to increase rental income and therefore is reported with rental operations. It deploys capital in regional markets to serve its customers' requirements. Strategic Capital comprises The Company manages third-party capital on behalf of the institutional partners in order to grow its business, provide incremental revenues, and align its assets and liabilities in local currencies thereby mitigating foreign currency risk associated with its international investments. It tailors logistics portfolios to meet its partners' specific needs, with a focus on long-term ventures and open-ended funds. It also access alternative sources of equity through the publicly traded vehicles Nippon Prologis REIT, Inc. and FIBRA Prologis. The Company faces competition with regard to capital deployment activities, including local, regional and national operators or developers. It also faces competition from investment managers for institutional capital within its strategic capital business.