Starts Proceed Investment Corporation (8979) AI Stock Analysis

• Market Cap: ¥58.27B
• Dividend Yield: 5%
• Average Volume (3M): 509.00
• Price to Earnings (P/E): 22.9
• Beta (1Y): 0.18
• Revenue Growth: -0.74%
• EPS Growth: -5.45%
• Country: JP
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Residential
• EPS (TTM): 4432.00
• Shares Outstanding: 272,415
• 10 Day Avg. Volume: 377
• 30 Day Avg. Volume: 509
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ¥215,024 ▲(6.98% Upside)

The overall score reflects strong profitability and a stable balance sheet, offset by declining revenue and cash flow. Technical indicators suggest neutral to bearish momentum, while the valuation is supported by a reasonable P/E ratio and attractive dividend yield.

Positive Factors

Profitability

Strong profitability with high margins indicates efficient operations and cost management, supporting long-term financial health and stability.

Stable Balance Sheet

A stable balance sheet with manageable leverage supports financial resilience and the ability to withstand economic fluctuations.

Strategic Partnerships

Strategic partnerships expand investment opportunities, potentially increasing revenue streams and enhancing competitive positioning.

Negative Factors

Declining Revenue

A significant decline in revenue can impact future earnings potential and indicates challenges in maintaining market share or pricing power.

Free Cash Flow Decline

A decline in free cash flow limits the company's ability to reinvest in growth opportunities and meet financial obligations, affecting long-term sustainability.

Equity Decline

A declining equity base may increase financial risk and limit the company's ability to leverage for growth or withstand economic downturns.

Starts Proceed Investment Corporation Business Overview & Revenue Model

Company Description

Starts Proceed Investment Corporation listed on the Jasdaq Securities Exchange (currently JASDAQ market in Osaka Securities Exchange) in November 2005 as a real estate investment trust (J-REIT) specializing in rental housing. Later in July 2010, Starts Proceed transferred its listing to the Tokyo Stock Exchange (securities code: 8979).

How the Company Makes Money

Starts Proceed Investment Corporation generates revenue primarily through its investment activities. The company earns income from capital gains achieved by buying and selling assets in its investment portfolio, which includes equities, real estate properties, and technology startups. Additionally, it receives management fees from funds that it oversees, as well as performance fees tied to the success of its investments. Strategic partnerships with other financial institutions and venture capital firms enhance its ability to access lucrative investment opportunities, further contributing to its revenue streams. Overall, the company's financial performance is closely linked to the effectiveness of its investment strategies and market conditions.

Starts Proceed Investment Corporation Financial Statement Overview

Summary

The company shows strong profitability with high margins and a stable balance sheet. However, the significant decline in revenue and free cash flow growth are concerning and need to be addressed to maintain financial health.

Income Statement

The income statement shows a declining revenue trend with a significant drop of 24.73% in the latest year. Despite this, the company maintains strong profitability with a high gross profit margin and net profit margin. However, the negative revenue growth is a concern for future earnings potential.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio around 1.1. The equity ratio indicates a solid equity base, and the return on equity is consistent, though slightly declining. The company's leverage is typical for the industry, but the decrease in equity could pose a risk if not addressed.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth, which dropped by 41.02% in the latest year. Operating cash flow remains strong relative to net income, but the significant drop in free cash flow is concerning. The company needs to improve cash generation to support future operations and investments.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.47B	7.53B	7.21B	6.57B	6.34B
Gross Profit	3.61B	4.41B	4.11B	3.77B	3.58B
EBITDA	4.71B	4.71B	4.54B	4.17B	4.03B
Net Income	2.59B	2.79B	2.63B	2.50B	2.34B
Balance Sheet
Total Assets	101.72B	103.83B	103.44B	90.63B	90.26B
Cash, Cash Equivalents and Short-Term Investments	3.88B	1.26B	1.19B	1.43B	1.56B
Total Debt	53.25B	53.26B	52.85B	45.65B	45.65B
Total Liabilities	55.01B	55.01B	54.59B	47.14B	46.92B
Stockholders Equity	46.70B	48.82B	48.85B	43.48B	43.34B
Cash Flow
Free Cash Flow	4.96B	2.45B	-9.74B	2.31B	2.71B
Operating Cash Flow	6.49B	7.29B	5.02B	7.25B	4.68B
Investing Cash Flow	-1.55B	-4.88B	-14.68B	-5.00B	-1.99B
Financing Cash Flow	-4.74B	-2.41B	9.92B	-2.37B	-2.58B

Starts Proceed Investment Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 201000.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8979, the sentiment is Positive. The current price of 201000 is below the 20-day moving average (MA) of 204790.00, below the 50-day MA of 203668.00, and above the 200-day MA of 186679.78, indicating a bullish trend. The MACD of 2563.88 indicates Negative momentum. The RSI at 75.32 is Negative, neither overbought nor oversold. The STOCH value of 95.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8979.

Starts Proceed Investment Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3451	78 Outperform	¥56.36B	19.47	―	5.29%	2.50%	2.49%
3282	68 Neutral	¥268.55B	28.82	―	3.47%	13.25%	3.76%
3481	68 Neutral	¥204.04B	24.05	―	4.68%	22.29%	0.88%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
8979	63 Neutral	¥58.27B	22.92	―	5.00%	-0.74%	-5.45%
3287	62 Neutral	¥155.07B	24.42	―	4.18%	42.32%	15.73%

Starts Proceed Investment Corporation Corporate Events

Starts Proceed Investment Unveils 40th-Period Results and Portfolio Strategy

Starts Proceed Investment Corporation released its financial results briefing for the 40th fiscal period, covering the six months ended October 31, 2025, outlining performance highlights, changes in distributions, leverage trends, and portfolio composition, including the acquisition of Proceed Sakurazaka and details on leasing conditions, occupancy, and appraisal values across its assets under management. The briefing also set out future management and asset replacement policies from the 41st fiscal period, described refinancing of interest-bearing liabilities, tracked movements in investment unit prices and unitholder structure, and emphasized sustainability initiatives and group development projects as part of a broader strategy to enhance portfolio resilience, respond to market fluctuation risks, and support long-term stability for investors.

The most recent analyst rating on (JP:8979) stock is a Hold with a Yen215024.00 price target. To see the full list of analyst forecasts on Starts Proceed Investment Corporation stock, see the JP:8979 Stock Forecast page.

Starts Proceed Investment Corporation Reports Decline in Financial Performance

Starts Proceed Investment Corporation reported a decrease in operating revenue and income for its 40th fiscal period compared to the previous period, indicating challenges in maintaining profitability. The company also forecasts a slight decline in financial performance for the upcoming fiscal periods, which may impact its distribution payouts and overall financial health.

The most recent analyst rating on (JP:8979) stock is a Buy with a Yen234136.00 price target. To see the full list of analyst forecasts on Starts Proceed Investment Corporation stock, see the JP:8979 Stock Forecast page.

Starts Proceed Investment Corporation Secures New Borrowing and Interest Rate Swap Agreement

Starts Proceed Investment Corporation announced its decision to borrow funds and enter into an interest rate swap agreement to manage its financial obligations. This strategic move is aimed at repaying existing borrowings and mitigating interest rate risks, thereby strengthening the company’s financial stability and operational efficiency.

The most recent analyst rating on (JP:8979) stock is a Buy with a Yen234136.00 price target. To see the full list of analyst forecasts on Starts Proceed Investment Corporation stock, see the JP:8979 Stock Forecast page.

Starts Proceed Investment Corporation Issues 2 Billion Yen in Green Bonds

Starts Proceed Investment Corporation has announced the issuance of 2 billion yen in green bonds, aimed at strengthening its funding platform and expanding its ESG investor base. This move is part of their sustainability initiatives, aligning with various green finance principles, and is expected to enhance their market positioning by attracting environmentally-conscious investors.

The most recent analyst rating on (JP:8979) stock is a Buy with a Yen234136.00 price target. To see the full list of analyst forecasts on Starts Proceed Investment Corporation stock, see the JP:8979 Stock Forecast page.