Tokyu Fudosan Holdings Corp. (JP:3289)
:3289
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Tokyu Fudosan Holdings
(3289)
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Rating:61Neutral
Price Target:
¥1,399.00
▲(0.83% Upside)
Action:Downgraded
Date:05/12/26
The score is driven primarily by improving profitability but constrained by high leverage and uneven free-cash-flow reliability. Valuation is a clear positive (low P/E and healthy yield), while technicals are a near-term drag due to weak momentum and trading below key moving averages.
Positive Factors
Steady Revenue & Margin Expansion
Sustained revenue growth with a multi-year expansion in net margin indicates improving core earnings power across cycles. This reflects better project execution and operating leverage in leasing/operations, helping support durable profitability beyond any single development wave.
Negative Factors
High Leverage
Leverage near two times equity is typical for diversified real estate but elevates refinancing and interest-rate exposure over cycles. Structural debt intensity reduces financial flexibility, increases servicing risk if rents or sales slow, and limits capacity for opportunistic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue & Margin Expansion
Sustained revenue growth with a multi-year expansion in net margin indicates improving core earnings power across cycles. This reflects better project execution and operating leverage in leasing/operations, helping support durable profitability beyond any single development wave.
Read all positive factors
Tokyu Fudosan Holdings (3289) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥923.60B
Dividend Yield2.88%
Average Volume (3M)2.33M
Price to Earnings (P/E)9.7
Beta (1Y)0.89
Revenue Growth8.32%
EPS Growth24.62%
CountryJP
Employees21,170
SectorReal Estate
Sector Strength53
IndustryReal Estate - Diversified
Share Statistics
EPS (TTM)135.38
Shares Outstanding719,831,000
10 Day Avg. Volume2,020,730
30 Day Avg. Volume2,328,523
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)1.05
Price to Sales (P/S)0.76
P/FCF Ratio34.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,588.00Price Target Upside14.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)137.54
Revenue Forecast (FY)¥1.34T
Tokyu Fudosan Holdings Business Overview & Revenue Model
Company Description
Tokyu Fudosan Holdings Corporation, together with its subsidiaries, engages in the real estate business in Japan and internationally. The company operates through four segments: Urban Development, Strategic Investment, Property Management & Operat...
How the Company Makes Money
Tokyu Fudosan Holdings makes money through a combination of (1) development profits and (2) recurring operating income from owned/managed assets and service fees.
1) Real estate development and sales (development margin)
- The group develops and ...
Tokyu Fudosan Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
46
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.25T | 1.15T | 1.10T | 1.01T | 989.05B |
| Gross Profit | 211.69B | 189.53B | 166.36B | 147.40B | 145.18B |
| EBITDA | 241.86B | 192.12B | 164.68B | 130.65B | 115.68B |
| Net Income | 96.70B | 77.56B | 68.55B | 48.23B | 35.13B |
Balance Sheet | |||||
| Total Assets | 3.42T | 3.26T | 3.03T | 2.74T | 2.63T |
| Cash, Cash Equivalents and Short-Term Investments | 213.85B | 182.24B | 263.19B | 186.01B | 177.60B |
| Total Debt | 1.83T | 1.75T | 1.61T | 1.48T | 1.42T |
| Total Liabilities | 2.50T | 2.42T | 2.26T | 2.04T | 1.99T |
| Stockholders Equity | 898.08B | 822.52B | 750.15B | 684.63B | 631.79B |
Cash Flow | |||||
| Free Cash Flow | 27.47B | -23.10B | -88.85B | 10.11B | 30.19B |
| Operating Cash Flow | 129.48B | 47.43B | 156.47B | 94.74B | 76.45B |
| Investing Cash Flow | -164.20B | -139.38B | -171.37B | -107.00B | -30.98B |
| Financing Cash Flow | 55.58B | 871.00M | 90.95B | 29.71B | -82.08B |
Tokyu Fudosan Holdings Technical Analysis
Neutral
1387.50
Price Trends
1346.09
Negative
1398.83
Negative
1324.82
Negative
Market Momentum
-18.27
Positive
48.60
Neutral
46.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3289, the sentiment is Neutral. The current price of 1387.5 is above the 20-day moving average (MA) of 1320.83, above the 50-day MA of 1346.09, and above the 200-day MA of 1324.82, indicating a bearish trend. The MACD of -18.27 indicates Positive momentum. The RSI at 48.60 is Neutral, neither overbought nor oversold. The STOCH value of 46.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:3289.
Tokyu Fudosan Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ¥1.02T | 8.70 | 19.60% | 1.94% | 3.42% | 30.95% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | ¥1.10T | 10.53 | 19.43% | 5.16% | 7.73% | 4.60% | |
61 Neutral | ¥923.60B | 9.73 | 11.06% | 2.88% | 8.32% | 24.62% | |
58 Neutral | ¥152.98B | 14.03 | 8.95% | 3.39% | 20.87% | 16.79% | |
56 Neutral | ¥4.80T | 22.13 | 7.67% | 1.18% | 10.53% | 20.50% | |
54 Neutral | ¥4.13T | 14.95 | 10.15% | 1.86% | 3.21% | 13.04% |
* Real Estate Sector Average
JP:3289
Tokyu Fudosan Holdings
1,319.00
292.64
28.51%
JP:1878
Daito Construction
3,172.00
14.38
0.46%
JP:8802
Mitsubishi Estate Company
4,056.00
1,418.74
53.80%
JP:8801
Mitsui Fudosan Co
1,530.50
173.05
12.75%
JP:3288
Open House Co
8,646.00
2,414.17
38.74%
JP:8803
Heiwa Real Estate Co., Ltd.
2,328.00
190.52
8.91%
Tokyu Fudosan Holdings Corporate Events
Tokyu Fudosan Raises Year-End Dividend After Earnings Beat Forecasts
May 11, 2026
Tokyu Fudosan Holdings has approved a year-end dividend of 26 yen per share for the fiscal year ended March 31, 2026, up from the previously forecast 22.5 yen and higher than the prior year’s 19.5 yen. The total dividend payout will be 18.7 ...
Tokyu Fudosan boosts profits, strengthens balance sheet and raises dividend
May 11, 2026
Tokyu Fudosan Holdings reported operating revenue of ¥1.25 trillion for the fiscal year ended March 31, 2026, an 8.3% increase year on year, with operating profit rising 18.6% to ¥166.9 billion and profit attributable to owners of the pa...
Tokyu Fudosan launches group-wide share-based pay plan for subsidiary directors
Mar 3, 2026
Tokyu Fudosan Holdings will introduce a share-based compensation plan using a trust for directors at six key subsidiaries, including Tokyu Land, Tokyu Community, Tokyu Livable, Tokyu Housing Lease, National Students Information Center and Renewabl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.