Japan Logistics Fund, Inc. (JP:8967)
:8967
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Japan Logistics Fund
(8967)
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Rating:66Neutral
Price Target:
¥103,680
▼(-2.19% Downside)
Action:ReiteratedDate:04/03/26
The score is driven primarily by solid financial performance (very strong margins and improving revenue/net income) and supportive valuation (low P/E and attractive dividend yield). These positives are offset by weak technicals, with the price below key moving averages and negative momentum indicators.
Positive Factors
High profitability / margins
Very high and consistent operating and net margins provide durable cash flow coverage for distributions and property-level expenses. For a logistics-focused REIT, margin strength increases resilience to rental volatility and helps preserve payout ratios and reinvestment capacity over the medium term.
Negative Factors
Uneven cash generation / FCF weakness
Operating cash conversion has been inconsistent and free cash flow turned sharply negative in FY2025. Variable cash generation increases the risk of distribution volatility, greater reliance on external financing or asset disposals to fund capex and acquisitions, and reduces buffer against market stress.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability / margins
Very high and consistent operating and net margins provide durable cash flow coverage for distributions and property-level expenses. For a logistics-focused REIT, margin strength increases resilience to rental volatility and helps preserve payout ratios and reinvestment capacity over the medium term.
Read all positive factors
Japan Logistics Fund (8967) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥268.30B
Dividend Yield3.87%
Average Volume (3M)3.88K
Price to Earnings (P/E)10.8
Beta (1Y)0.26
Revenue Growth27.77%
EPS Growth14.16%
CountryJP
Employees33
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)2332.00
Shares Outstanding2,746,163
10 Day Avg. Volume3,021
30 Day Avg. Volume3,882
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)1.19
Price to Sales (P/S)7.79
P/FCF Ratio12.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4,540.5
Revenue Forecast (FY)¥16.66B
Japan Logistics Fund Business Overview & Revenue Model
Company Description
JLF is the first J- REIT dedicated to "logistics properties" with real estate and other assets used for logistic facilities primarily in the Tokyo Metropolitan, Kinki, Chubu and Kyushu areas as investment targets. Based on the Act on Investment Tr...
How the Company Makes Money
Japan Logistics Fund makes money primarily by earning rental income from tenants leasing space in its logistics facilities. Revenue is generated through (1) base rent under lease contracts, and may also include (2) variable or ancillary property-r...
Japan Logistics Fund Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 | Jul 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.80B | 21.45B | 20.86B | 20.30B | 18.88B | 18.27B |
| Gross Profit | 12.07B | 11.95B | 13.22B | 10.70B | 11.83B | 10.66B |
| EBITDA | 17.09B | 15.35B | 14.70B | 14.24B | 13.67B | 13.14B |
| Net Income | 12.51B | 10.72B | 10.18B | 9.52B | 9.04B | 8.03B |
Balance Sheet | ||||||
| Total Assets | 274.14B | 272.21B | 273.83B | 274.67B | 273.79B | 259.43B |
| Cash, Cash Equivalents and Short-Term Investments | 17.85B | 11.44B | 10.91B | 10.09B | 7.92B | 7.05B |
| Total Debt | 121.10B | 119.70B | 119.70B | 119.70B | 119.70B | 114.70B |
| Total Liabilities | 133.15B | 131.37B | 130.89B | 131.24B | 130.71B | 125.04B |
| Stockholders Equity | 140.98B | 140.84B | 142.94B | 143.33B | 143.07B | 134.39B |
Cash Flow | ||||||
| Free Cash Flow | 12.47B | 13.45B | 11.50B | 11.90B | -3.81B | 4.94B |
| Operating Cash Flow | 18.50B | 17.78B | 14.62B | 14.76B | 12.82B | 10.99B |
| Investing Cash Flow | -6.28B | -4.35B | -3.26B | -2.87B | -16.09B | -6.12B |
| Financing Cash Flow | -11.13B | -14.21B | -10.61B | -9.52B | 4.52B | -13.25B |
Japan Logistics Fund Technical Analysis
Neutral
106000.00
Price Trends
101160.22
Negative
101174.24
Negative
97334.35
Positive
Market Momentum
-1386.87
Positive
46.38
Neutral
37.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8967, the sentiment is Neutral. The current price of 106000 is above the 20-day moving average (MA) of 99860.00, above the 50-day MA of 101160.22, and above the 200-day MA of 97334.35, indicating a neutral trend. The MACD of -1386.87 indicates Positive momentum. The RSI at 46.38 is Neutral, neither overbought nor oversold. The STOCH value of 37.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:8967.
Japan Logistics Fund Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥270.25B | 19.83 | 5.78% | 5.26% | 12.81% | 1.32% | |
68 Neutral | ¥636.66B | 21.26 | ― | 4.86% | ― | ― | |
66 Neutral | ¥268.30B | 10.83 | 8.18% | 3.87% | 27.77% | 14.16% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ¥189.93B | 12.06 | ― | 4.68% | 22.29% | 0.88% | |
63 Neutral | ¥743.27B | 25.28 | ― | 4.10% | 12.04% | 12.83% |
* Real Estate Sector Average
JP:8967
Japan Logistics Fund
97,700.00
9,211.22
10.41%
JP:3466
LaSalle LOGIPORT REIT
155,600.00
23,397.83
17.70%
JP:3281
GLP J-REIT
132,700.00
14,635.83
12.40%
JP:3283
Nippon Prologis REIT, Inc.
88,600.00
13,288.88
17.65%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
116,200.00
21,090.46
22.17%
JP:3481
Mitsubishi Estate Logistics REIT Investment Corp.
127,900.00
18,364.84
16.77%
Japan Logistics Fund Corporate Events
Japan Logistics Fund Completes Modest Unit Buyback and Plans Full Cancellation
Apr 1, 2026
Japan Logistics Fund, Inc., a Tokyo-listed logistics-focused real estate investment trust managed by Mitsui Co., Logistics Partners, concentrates on income-generating warehouses and distribution facilities across Japan. The REIT aims to offer inv...
Japan Logistics Fund Announces Auditor Change at Asset Manager Mitsui & Co. Logistics Partners
Mar 23, 2026
Japan Logistics Fund, Inc., a logistics-focused real estate investment trust managed by Mitsui Co., Logistics Partners Ltd., has announced changes in the auditor position at its asset management company. The move reflects routine governance adjus...
Japan Logistics Fund Sets Interest Rates on ¥2 Billion in Long-Term Loans
Mar 18, 2026
Japan Logistics Fund has finalized the interest rates on previously announced loan borrowings totaling 2 billion yen from The Norinchukin Bank and SBI Shinsei Bank, Limited. The loans, carrying fixed interest rates of approximately 2.6% with matur...
Japan Logistics Fund Secures Green Loan and Refinancing to Expand Logistics Portfolio
Mar 17, 2026
Japan Logistics Fund has arranged a series of new bank loans totaling 4 billion yen, including a green loan from Resona Bank structured under its Green Finance Framework and aligned with the Bank of Japan’s climate response funding program. ...
Japan Logistics Fund Revamps Fee Structure to Align Manager Incentives With Unitholders
Mar 17, 2026
Japan Logistics Fund has approved changes to its asset management fee structure to better align the interests of its asset manager with unitholders and to support an expanded investment universe beyond traditional real estate-type assets. The revi...
Japan Logistics Fund to Broaden Investment Scope and Revamp Governance, Fee Structure
Mar 17, 2026
Japan Logistics Fund plans to amend its Articles of Incorporation to rebalance its governance structure, setting the number of executive directors at one and capping supervisory directors, while broadening its investable universe to include additi...
Japan Logistics Fund Buys Discounted Logistics Assets to Boost Portfolio Yields
Mar 17, 2026
Japan Logistics Fund has approved the acquisition of trust beneficiary rights in the Tosu Logistics Center and Yokohama Torihama‑cho land, for a combined planned price of ¥2.401 billion. The deals are being funded through borrowings and...
Japan Logistics Fund Posts Profit Growth but Signals Softer Earnings Ahead
Mar 17, 2026
Japan Logistics Fund reported operating revenue of ¥11.93 billion and net income of ¥6.41 billion for the six months to 31 January 2026, marking modest year-on-year growth and pushing net income per unit to ¥2,332. The REIT maintain...
Japan Logistics Fund Reports No Unit Buybacks in February Under Approved Repurchase Program
Mar 2, 2026
Japan Logistics Fund reported that it did not repurchase any of its investment units in February 2026 under its ongoing buyback program, despite having board approval to purchase up to 16,000 units for as much as ¥1.5 billion by the end of Ma...
Japan Logistics Fund Sets Terms on New 2 Billion Yen Loan
Feb 25, 2026
Japan Logistics Fund has set the borrowing terms for a previously announced loan, further detailing its funding strategy for logistics-focused real estate investments. The REIT secured a 2 billion yen loan from Sumitomo Mitsui Banking Corporation ...
Japan Logistics Fund Corrects Date on Amagasaki Logistics Center Forward Commitment Cancellation
Feb 24, 2026
Japan Logistics Fund has issued a correction to its recent notice regarding the Amagasaki Logistics Center transaction. The REIT clarified that the cancellation date of its forward commitment to acquire the asset is February 20, 2026, not March 17...
Japan Logistics Fund Refinances ¥6 Billion in Loans to Smooth Debt Maturities
Feb 24, 2026
Japan Logistics Fund, Inc., a logistics-focused Japanese real estate investment trust managed by Mitsui Co., Logistics Partners Ltd., invests in warehouses and distribution facilities to generate stable rental income. The REIT maintains diversifi...
Japan Logistics Fund Restructures Amagasaki Logistics Center Deal to Gain Timing Flexibility
Feb 20, 2026
Japan Logistics Fund, Inc. has decided to cancel a previously agreed forward commitment to acquire the Amagasaki Logistics Center and instead secure a preferred negotiation right over the property. The move, prompted by rising market volatility, e...
Japan Logistics Fund Completes Logistics Asset Swap with No Change to Earnings Outlook
Feb 2, 2026
Japan Logistics Fund has completed an asset swap involving the acquisition of a 33% quasi-co-ownership interest in Funabashi Nishiura Logistics Center III and the disposition of an 18% quasi-co-ownership interest in Ichikawa Logistics Center II, b...
Japan Logistics Fund Secures New Loans to Finance Asset Swap and Refinance Maturing Debt
Jan 27, 2026
Japan Logistics Fund has arranged new bank loans totaling 2.62 billion yen from The Chiba Bank, Sumitomo Mitsui Trust Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation to support a previously announced asset swap and refinance maturing debt....
Japan Logistics Fund Ends Buyback Period With No Units Repurchased, Keeps Earnings Outlook Unchanged
Jan 26, 2026
Japan Logistics Fund announced that it conducted no buybacks of its investment units during the January 5–23, 2026 buyback window because the market price remained above the pre-set purchase level it deemed efficient for investment, resultin...
Japan Logistics Fund Sets Prices for Asset Swaps with Nippon Prologis REIT
Jan 21, 2026
Japan Logistics Fund has finalized the planned acquisition and disposition prices for a series of asset swaps with Nippon Prologis REIT involving the Funabashi Nishiura Logistics Center III and a 54% quasi-co-ownership interest in Ichikawa Logisti...
Japan Logistics Fund Ends Buyback with No Units Repurchased, Keeps Earnings Outlook Unchanged
Jan 5, 2026
Japan Logistics Fund, Inc. (JLF) reported that its investment units buyback program, conducted between September 16 and December 30, 2025 through market purchases on the Tokyo Stock Exchange, resulted in no units being repurchased, as the market p...
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.