Ichigo Office REIT Investment Corporation (JP:8975)
:8975
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Ichigo Office REIT Investment Corporation
(8975)
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Rating:77Outperform
Price Target:
Â¥109,755
â–²(13.50% Upside)
Action:UpgradedDate:12/19/25
The overall score of 77 for Ichigo Office REIT is driven primarily by strong financial performance, with impressive revenue and cash flow growth alongside solid profitability. A reasonable valuation with an attractive dividend yield further supports the score. However, mixed technical signals with short-term price weakness slightly temper the outlook.
Positive Factors
Revenue Growth
Robust revenue growth indicates a strong market position and effective business strategy, supporting long-term expansion and stability.
Negative Factors
Debt Levels
High debt levels can strain financial resources, potentially limiting growth initiatives and increasing vulnerability to interest rate fluctuations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Robust revenue growth indicates a strong market position and effective business strategy, supporting long-term expansion and stability.
Read all positive factors
Ichigo Office REIT Investment Corporation (8975) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
Â¥148.41B
Dividend Yield6.26%
Average Volume (3M)3.20K
Price to Earnings (P/E)15.6
Beta (1Y)0.23
Revenue Growth55.69%
EPS Growth24.75%
CountryJP
EmployeesN/A
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)3000.00
Shares Outstanding1,537,965
10 Day Avg. Volume2,656
30 Day Avg. Volume3,198
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)1.39
Price to Sales (P/S)5.42
P/FCF Ratio9.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
Â¥106,000.00Price Target Upside9.62% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)4,956
Revenue Forecast (FY)Â¥18.08B
Ichigo Office REIT Investment Corporation Business Overview & Revenue Model
Company Description
Ichigo Office (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential. Ichigo Office seeks to drive higher earnings and sustainable growth for its shareholders by ...
How the Company Makes Money
Ichigo Office REIT generates revenue primarily through rental income from its portfolio of office properties. The company leases space to various tenants, including corporations and service providers, which contributes to its steady cash flow. The...
Ichigo Office REIT Investment Corporation Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
70
Positive
Cash Flow
80
Positive
| Breakdown | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.92B | 17.29B | 20.29B | 16.48B | 15.57B |
| Gross Profit | 10.51B | 10.76B | 13.94B | 10.36B | 9.84B |
| EBITDA | 13.12B | 10.48B | 13.03B | 10.02B | 9.64B |
| Net Income | 9.35B | 7.40B | 9.49B | 6.69B | 6.32B |
Balance Sheet | |||||
| Total Assets | 244.36B | 244.76B | 231.00B | 229.97B | 227.65B |
| Cash, Cash Equivalents and Short-Term Investments | 27.11B | 6.86B | 6.49B | 8.70B | 9.42B |
| Total Debt | 124.64B | 123.76B | 114.91B | 113.11B | 111.25B |
| Total Liabilities | 139.58B | 138.38B | 129.00B | 127.96B | 125.23B |
| Stockholders Equity | 104.78B | 106.38B | 102.00B | 102.01B | 102.42B |
Cash Flow | |||||
| Free Cash Flow | 15.75B | -5.28B | 5.58B | 4.55B | 3.34B |
| Operating Cash Flow | 18.34B | 12.23B | 17.06B | 9.80B | 8.52B |
| Investing Cash Flow | -2.63B | -17.19B | -11.54B | -5.19B | -5.07B |
| Financing Cash Flow | -10.06B | 5.81B | -7.70B | -5.24B | -6.25B |
Ichigo Office REIT Investment Corporation Technical Analysis
Positive
96700.00
Price Trends
97518.00
Negative
97452.00
Negative
94783.84
Positive
Market Momentum
-620.14
Positive
47.69
Neutral
33.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8975, the sentiment is Positive. The current price of 96700 is below the 20-day moving average (MA) of 97115.00, below the 50-day MA of 97518.00, and above the 200-day MA of 94783.84, indicating a neutral trend. The MACD of -620.14 indicates Positive momentum. The RSI at 47.69 is Neutral, neither overbought nor oversold. The STOCH value of 33.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8975.
Ichigo Office REIT Investment Corporation Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥148.41B | 15.62 | ― | 6.26% | 55.69% | 24.75% | |
69 Neutral | ¥859.41B | 24.15 | 6.59% | 3.83% | -1.97% | -2.16% | |
67 Neutral | ¥130.88B | 16.83 | ― | 5.86% | 90.94% | 40.39% | |
66 Neutral | ¥1.21T | 28.58 | 5.94% | 3.40% | -7.30% | 7.83% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | ¥242.50B | 20.08 | ― | 4.63% | -5.47% | 14.66% | |
62 Neutral | ¥325.29B | 11.71 | ― | 3.94% | 19.18% | -23.37% |
* Real Estate Sector Average
JP:8975
Ichigo Office REIT Investment Corporation
96,500.00
17,875.12
22.73%
JP:8952
Japan Real Estate Investment
120,800.00
12,556.95
11.60%
JP:8951
Nippon Building
137,100.00
12,639.21
10.16%
JP:3295
Hulic Reit, Inc.
168,400.00
30,288.52
21.93%
JP:8958
Global One Real Estate Investment Corporation
134,600.00
23,510.10
21.16%
JP:8976
Daiwa Office Investment Corporation
348,000.00
64,474.20
22.74%
Ichigo Office REIT Investment Corporation Corporate Events
Ichigo Office REIT Posts Slight Occupancy Dip but Lifts Rents with Value-Add Leasing
Jan 8, 2026
Ichigo Office REIT reported a slight month-on-month dip in overall portfolio occupancy to 97.1% in December 2025, driven mainly by tenant departures in central Tokyo office assets, while occupancy in the four major regional cities improved on the ...
Ichigo Office REIT Corrects October 2025 Rent Growth Data, Showing Stronger Gains
Dec 22, 2025
Ichigo Office REIT Investment Corporation has corrected data in its October 2025 fiscal period corporate presentation, specifically the reported average rent increase for upward office rent renewals. The revised figure shows that average rent hike...
Ichigo Office REIT Reports Decline in October 2025 Fiscal Performance
Dec 15, 2025
Ichigo Office REIT Investment Corporation reported a decline in its financial performance for the October 2025 fiscal period, with operating revenue and net income decreasing by 9.4% and 19.4% respectively compared to the previous period. The comp...
Ichigo Office Secures Loan for Strategic Portfolio Enhancement
Dec 15, 2025
Ichigo Office REIT Investment Corporation has secured a JPY 1,000 million committed term loan from Sumitomo Mitsui Banking Corporation to finance value-add capital expenditures aimed at enhancing its mid-sized office portfolio. This strategic move...
Ichigo Office REIT Highlights Sustainability in October 2025 Fiscal Presentation
Dec 15, 2025
Ichigo Office REIT Investment Corporation presented its corporate performance for the October 2025 fiscal period, highlighting its commitment to sustainability. The announcement underscores the company’s strategic focus on sustainable infras...
Ichigo Office Completes Asset Acquisition and Appoints New Property Manager
Dec 12, 2025
Ichigo Office REIT Investment Corporation has completed the acquisition of the Ichigo Tachikawa Koen Dori Building and appointed CBRE K.K. as the property management company. This strategic move is expected to attract high-quality tenants and ensu...
Ichigo Office REIT Reports Occupancy Changes and Renovation Efforts
Dec 4, 2025
Ichigo Office REIT Investment Corporation reported a slight decrease in occupancy rates for November 2025, primarily due to tenant departures from specific buildings and the sale of an asset. Despite the decrease, the company is actively working o...
Ichigo Office REIT Sets Interest Rate for New Loan
Nov 25, 2025
Ichigo Office REIT Investment Corporation has fixed the interest rate for a new loan of JPY 1,000 million at 1.18364% per annum, with a repayment date set for April 25, 2032. This financial move is part of their strategy to manage their fiscal ope...
Ichigo Office REIT Secures New Loan to Redeem Bonds
Nov 20, 2025
Ichigo Office REIT Investment Corporation has announced a new loan of JPY 1,000 million from Mizuho Bank to redeem its existing investment corporation bonds. This strategic financial maneuver is expected to have no material impact on the company&#...
Ichigo Office REIT Sells Asset for Strategic Reinvestment
Nov 10, 2025
Ichigo Office REIT Investment Corporation announced the sale of the Ichigo Mirai Shinkin Building, an office asset, to a third-party Japanese company for JPY 1,750 million. The decision to sell was driven by limited earnings growth potential and a...
Ichigo Office REIT Boosts April 2026 Earnings Forecast
Nov 10, 2025
Ichigo Office REIT Investment Corporation has revised its earnings forecast for the April 2026 fiscal period upward, citing gains from the sale of the Ichigo Mirai Shinkin Building and the acquisition of the Ichigo Tachikawa Koen Dori Building. Th...
Ichigo Office REIT Reports Occupancy Gains and Renovation Efforts
Nov 7, 2025
Ichigo Office REIT Investment Corporation reported a slight increase in overall occupancy rates for October 2025, despite a decrease in the Tokyo Metropolitan Area due to tenant departure. The company is actively working to fill vacant spaces and ...
Ichigo Office REIT Sets Interest Rates for New Loans
Oct 29, 2025
Ichigo Office REIT Investment Corporation has announced the fixed interest rates for new loans totaling JPY 2,380 million, with a mix of fixed and floating rates. These interest rates have already been factored into the company’s fiscal fore...
Ichigo Office REIT Boosts October 2025 Earnings Forecast After Strategic Asset Sale
Oct 27, 2025
Ichigo Office REIT Investment Corporation has revised its earnings forecast for the October 2025 fiscal period upwards, following the planned sale of the Ichigo Toyamaeki Nishi Building. This sale is expected to generate a significant gain, positi...
Ichigo Office REIT Sells Toyamaeki Nishi Building to Enhance Portfolio
Oct 27, 2025
Ichigo Office REIT Investment Corporation has announced the sale of the Ichigo Toyamaeki Nishi Building to Toa Bussan Corporation for JPY 2,720 million, significantly above its book and appraisal values. This strategic decision is aimed at improvi...
Ichigo Office REIT Expands Portfolio with Strategic Tokyo Acquisition
Oct 23, 2025
Ichigo Office REIT Investment Corporation announced the acquisition of the Ichigo Tachikawa Koen Dori Building, a mid-size office asset in Tokyo, for JPY 1,950 million. This acquisition aligns with the company’s strategy to enhance sharehold...
Ichigo Office REIT Secures JPY 881 Million Loan for Asset Enhancement
Oct 22, 2025
Ichigo Office REIT Investment Corporation has announced the execution of a JPY 881 million loan to fund value-add capital expenditures, which is part of a previously announced JPY 1,000 million commitment term loan. This move is intended to drive ...
Ichigo Office REIT Cancels Treasury Shares, Maintains Earnings Forecast
Oct 17, 2025
Ichigo Office REIT Investment Corporation announced the cancellation of 16,969 shares acquired in a recent buyback, representing 1.1% of total shares outstanding. This move will not affect the company’s earnings forecasts for the fiscal peri...
Ichigo Office REIT Secures New Loans for Debt Refinancing
Oct 17, 2025
Ichigo Office REIT Investment Corporation has announced the acquisition of new loans totaling JPY 2,380 million to refinance an existing loan of the same amount. This strategic financial move is expected to have no material impact on the company&#...
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.
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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.