Nippon Accommodations Fund Inc. (3226) AI Stock Analysis

• Market Cap: ¥344.63B
• Dividend Yield: 3.56%
• Average Volume (3M): 5.48K
• Price to Earnings (P/E): 29.6
• Beta (1Y): 0.19
• Revenue Growth: 2.91%
• EPS Growth: 2.68%
• Country: JP
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): N/A
• Shares Outstanding: 2,517,360
• 10 Day Avg. Volume: 3,998
• 30 Day Avg. Volume: 5,480
• PEG Ratio: 19.75
• Price to Book (P/B): 2.04
• Price to Sales (P/S): 23.56
• P/FCF Ratio: 107.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥125,000.00
• Price Target Upside: -7.68% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: ¥135,328 ▼(-0.05% Downside)

The overall stock score is primarily influenced by the company's strong profitability metrics, despite significant declines in revenue and free cash flow. Technical analysis indicates a bearish trend with weak momentum, while the valuation suggests the stock may be overvalued, though it offers a decent dividend yield. The absence of earnings call data and notable corporate events means these factors do not impact the score.

Positive Factors

Strong Profitability

High profitability margins indicate efficient operations and cost management, providing a buffer against revenue fluctuations and supporting long-term financial health.

Stable Balance Sheet

A stable balance sheet with moderate leverage ensures financial flexibility and the ability to withstand economic downturns, supporting sustainable growth.

Market Position

Focusing on urban residential properties positions the company to benefit from ongoing urbanization trends and growing rental demand, ensuring long-term revenue potential.

Negative Factors

Revenue Decline

A significant decline in revenue can impact the company's ability to invest in growth opportunities and maintain profitability, posing risks to long-term stability.

Free Cash Flow Decline

A sharp decline in free cash flow limits the company's ability to fund operations, service debt, and invest in future growth, potentially affecting financial resilience.

Reduced Return on Equity

A lower return on equity indicates challenges in generating returns from investments, which could hinder the company's ability to attract new capital and sustain growth.

Nippon Accommodations Fund Inc. Business Overview & Revenue Model

Company Description

Nippon Accommodations Fund Inc. (hereinafter "NAF") was established on October 12, 2005 as an investment corporation under the Investment Trust and Investment Corporation Act of Japan with Mitsui Fudosan Accommodations Fund Management Co., Ltd. (hereinafter "MFAFM") acting as a sponsor. Registration with the Kanto Local Finance Bureau of the Ministry of Finance was completed on November 11, 2005 and NAF started acquisition of properties on November 30, 2005. NAF is an externally managed real estate fund, formed as an investment corporation. MFAFM, as NAF's asset management company, is engaged in the acquisition, management, and renovation of accommodation assets. MFAFM is a 100% subsidiary of Mitsui Fudosan Co., Ltd.

How the Company Makes Money

Nippon Accommodations Fund Inc. generates revenue primarily through rental income from its portfolio of residential properties. The company earns money by leasing its properties to tenants, which provides a steady and predictable cash flow. Additionally, NAF may increase its earnings through strategic property acquisitions aimed at expanding and diversifying its portfolio, thereby enhancing potential rental income. Management fees from property management services and occasional property sales can also contribute to its revenue. The company's success is supported by its partnerships with major real estate developers and financial institutions, which help facilitate property acquisitions and investments.

Nippon Accommodations Fund Inc. Financial Statement Overview

Summary

Nippon Accommodations Fund Inc. exhibits strong profitability metrics but faces significant revenue and free cash flow declines, which could pose risks to future financial stability. The balance sheet remains stable with moderate leverage, but the reduced return on equity suggests challenges in generating returns from equity investments.

Income Statement

The company shows strong profitability with a consistent gross profit margin around 59% and a net profit margin above 44%. However, the revenue has significantly declined by 47.82% in the latest year, indicating potential challenges in revenue generation. EBIT and EBITDA margins remain robust, reflecting efficient cost management.

Balance Sheet

The balance sheet demonstrates a stable financial structure with a debt-to-equity ratio slightly above 1, indicating moderate leverage. Return on equity has decreased to 3.84%, suggesting reduced profitability from equity. The equity ratio is stable, showing a balanced asset financing strategy.

Cash Flow

The cash flow statement reveals a concerning decline in free cash flow by 74.04%, which could impact future investments and debt servicing. The operating cash flow to net income ratio is low at 0.29, indicating potential cash flow challenges. The free cash flow to net income ratio is moderate, reflecting some ability to generate cash from operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.02B	13.20B	25.29B	25.39B	24.65B	23.55B
Gross Profit	7.84B	7.84B	15.01B	14.94B	14.21B	13.34B
EBITDA	16.38B	8.28B	15.96B	15.99B	15.50B	14.73B
Net Income	11.64B	5.85B	11.34B	11.32B	10.57B	9.84B
Balance Sheet
Total Assets	328.69B	328.69B	325.69B	327.05B	328.47B	327.82B
Cash, Cash Equivalents and Short-Term Investments	9.91B	9.91B	11.49B	14.86B	13.05B	12.26B
Total Debt	168.50B	168.50B	166.00B	167.50B	169.50B	169.50B
Total Liabilities	176.32B	176.32B	173.61B	175.18B	177.30B	176.90B
Stockholders Equity	152.37B	152.37B	152.08B	151.87B	151.17B	150.93B
Cash Flow
Free Cash Flow	7.36B	2.90B	9.33B	14.48B	11.24B	-9.15B
Operating Cash Flow	15.57B	8.06B	15.20B	15.97B	15.09B	14.10B
Investing Cash Flow	-8.18B	-5.17B	-5.90B	-1.60B	-3.91B	-23.22B
Financing Cash Flow	-8.86B	-4.29B	-12.63B	-12.61B	-10.37B	11.84B

Nippon Accommodations Fund Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 135400.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3226, the sentiment is Positive. The current price of 135400 is above the 20-day moving average (MA) of 134215.00, above the 50-day MA of 132538.00, and above the 200-day MA of 122162.85, indicating a bullish trend. The MACD of 1270.32 indicates Negative momentum. The RSI at 69.50 is Neutral, neither overbought nor oversold. The STOCH value of 90.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3226.

Nippon Accommodations Fund Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3309	73 Outperform	¥390.80B	20.09	6.92%	5.16%	-27.01%	18.03%
8964	72 Outperform	¥254.27B	20.53	―	4.67%	4.11%	2.05%
3249	68 Neutral	¥398.19B	21.99	7.56%	4.52%	-6.57%	2.83%
3279	68 Neutral	¥348.84B	24.74	5.23%	4.18%	-5.01%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
3234	64 Neutral	¥288.22B	23.43	―	4.15%	-0.15%	-2.63%
3226	59 Neutral	¥344.63B	29.60	―	3.56%	2.91%	2.68%

Nippon Accommodations Fund Inc. Corporate Events

Mitsui Fudosan Accommodations Fund Refinances Debt, Slightly Reduces Leverage

Mitsui Fudosan Accommodations Fund Inc. has arranged new long-term borrowings totaling 2.0 billion yen from The Ashikaga Bank and THE NISHI-NIPPON CITY BANK to refinance existing loans, including scheduled repayments to The Ashikaga Bank and The Norinchukin Bank. The refinancing slightly reduces the REIT’s total interest-bearing debt from 170.7 billion yen to 169.7 billion yen and marginally lowers its interest-bearing debt ratio to 53.8%, while maintaining a very high proportion of long-term debt, indicating continued emphasis on funding stability and limited change in overall risk profile for investors.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen125000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Inc. Secures Loan for Property Acquisition

Mitsui Fudosan Accommodations Fund Inc. announced a borrowing of 2.5 billion yen to finance the acquisition of two new properties, Park Cube Kinshicho and Park Cube Ueno Sakuragi. This strategic move is expected to strengthen MAF’s asset portfolio and slightly increase its interest-bearing debt ratio, reflecting the company’s ongoing expansion efforts in the real estate market.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen125000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Revises Financial Forecast with Positive Outlook

Mitsui Fudosan Accommodations Fund Inc. has revised its financial forecast for the period ending August 31, 2026, reflecting a positive outlook with increased revenue and income projections. The revision is driven by recent acquisitions and sales of domestic properties, resulting in anticipated capital gains and a slight increase in distribution per unit. These strategic moves are expected to enhance MAF’s financial performance and strengthen its market position.

The most recent analyst rating on (JP:3226) stock is a Hold with a Yen135328.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Acquires New Real Estate Property to Boost Portfolio

Mitsui Fudosan Accommodations Fund Inc. announced the acquisition of a domestic real estate property, Campus Terrace Kyudai-Gakkentoshi, for 3.2 billion yen. This strategic purchase is intended to enhance the company’s asset portfolio and support its growth objectives, with the handover scheduled for March 2026.

The most recent analyst rating on (JP:3226) stock is a Hold with a Yen135328.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Inc. Announces Strategic Real Estate Transactions

Mitsui Fudosan Accommodations Fund Inc. announced the acquisition of two properties, Park Axis Oshiage Residence and Park Axis Nishi Magome, and the sale of two other properties, Park Axis Tsukishima and Dormy Nishi Ogikubo. The transaction is expected to generate unrealized gains, which will be retained as a reserve fund, supporting the company’s strategy for asset growth and portfolio enhancement.

The most recent analyst rating on (JP:3226) stock is a Hold with a Yen135328.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Revises Financial Forecast for 2026

Mitsui Fudosan Accommodations Fund Inc. has revised its financial results forecast for the period ending February 28, 2026, due to changes in property acquisitions and sales. The revised forecast shows an increase in total revenues and net income, driven by a capital gain from the sale of Park Axis Takamiya Higashi. The impact on the financial results for the subsequent period is expected to be minor, indicating stable future operations.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen109000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Announces Strategic Property Transactions

Mitsui Fudosan Accommodations Fund Management Co., Ltd. announced the acquisition of two properties, Park Cube Kinshicho and Park Cube Ueno Sakuragi, and the sale of Park Axis Takamiya Higashi. The transaction is part of a strategic move to enhance the investment portfolio and realize capital gains, which will be retained as a reserve fund. The sale is expected to yield a significant profit over the book value, which will be used for future acquisitions, debt repayment, and maintenance.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen109000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Inc. Announces Strategic Loan for Debt Management

Mitsui Fudosan Accommodations Fund Inc. announced a borrowing of 2.0 billion yen from Sumitomo Mitsui Trust Bank, Limited, with the funds intended for the repayment of an existing loan. This financial maneuver maintains the company’s interest-bearing debt ratio at 53.6%, indicating stable financial management and no significant change in its investment risk profile.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen109000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Withdraws S&P Rating

Mitsui Fudosan Accommodations Fund Inc. (MAF) announced the withdrawal of its issuer rating from S&P Global Ratings Japan, citing a comprehensive consideration of effects and costs. Despite this withdrawal, MAF will maintain its credit ratings from Rating and Investment Information, Inc. The company anticipates that this decision will have a minor impact on its financial results for the period ending February 28, 2026, and does not foresee any changes to its financial forecast.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen109000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.

Mitsui Fudosan Accommodations Fund Inc. Reports Stable Financial Performance

Mitsui Fudosan Accommodations Fund Inc. reported its financial results for the fiscal period from March 1, 2025, to August 31, 2025. The company saw an increase in total revenues and operating income compared to the previous period, with net income per unit also showing a slight rise. The company conducted an investment unit split, which impacted the calculation of net income per unit and distributions. Despite the changes, the payout ratio remained at 100%, indicating stable distribution to investors.

The most recent analyst rating on (JP:3226) stock is a Sell with a Yen109000.00 price target. To see the full list of analyst forecasts on Nippon Accommodations Fund Inc. stock, see the JP:3226 Stock Forecast page.