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Japanese (NIKKEI) Real Estate Sector Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies167
  • 7D-2.1%
  • 3M-12.3%
  • 1Y6.5%
  • YTD-9.9%

Over the last 7 days, the Real Estate industry has dropped 2.1%, driven by a pullback from Mitsubishi Estate of 7.3%. Meanwhile, Tosei actually outperformed within the industry, gaining 8.1% in the last week. In the past year, the industry has gained 6.5%. Earnings are forecast to grow by 3.6% annually.

Sector Valuation and Performance

Has the Japanese Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026JP¥38.5tJP¥22.7tJP¥2.6t14.9x14.8x1.7x
Fri, 22 May 2026JP¥40.0tJP¥22.7tJP¥2.6t14.9x15.4x1.8x
Sun, 19 Apr 2026JP¥43.5tJP¥22.4tJP¥2.6t15.7x16.7x1.9x
Tue, 17 Mar 2026JP¥44.5tJP¥22.3tJP¥2.6t16.1x17.3x2x
Thu, 12 Feb 2026JP¥46.9tJP¥22.0tJP¥2.5t17.5x18.4x2.1x
Sat, 10 Jan 2026JP¥43.7tJP¥21.8tJP¥2.5t18.1x17.6x2x
Mon, 08 Dec 2025JP¥41.1tJP¥21.7tJP¥2.5t16.9x16.6x1.9x
Wed, 05 Nov 2025JP¥39.9tJP¥21.5tJP¥2.4t17x16.4x1.9x
Fri, 03 Oct 2025JP¥39.0tJP¥21.4tJP¥2.4t17.4x16x1.8x
Sun, 31 Aug 2025JP¥39.4tJP¥21.4tJP¥2.4t17.6x16.1x1.8x
Tue, 29 Jul 2025JP¥36.3tJP¥21.1tJP¥2.4t17.5x15.1x1.7x
Thu, 26 Jun 2025JP¥36.4tJP¥21.6tJP¥2.4t17.3x15.1x1.7x
Sat, 24 May 2025JP¥35.6tJP¥21.5tJP¥2.4t16.9x14.8x1.7x
Mon, 21 Apr 2025JP¥35.8tJP¥21.2tJP¥2.3t16.7x15.5x1.7x
Wed, 19 Mar 2025JP¥35.2tJP¥21.2tJP¥2.3t17x15.2x1.7x
Fri, 14 Feb 2025JP¥34.7tJP¥21.1tJP¥2.3t17x15.1x1.6x
Sun, 12 Jan 2025JP¥33.6tJP¥21.1tJP¥2.2t16.6x15.3x1.6x
Tue, 10 Dec 2024JP¥33.6tJP¥21.0tJP¥2.2t16.5x15.4x1.6x
Thu, 07 Nov 2024JP¥34.4tJP¥20.9tJP¥2.3t16.8x15.3x1.7x
Sat, 05 Oct 2024JP¥35.2tJP¥20.8tJP¥2.2t17.9x15.7x1.7x
Mon, 02 Sep 2024JP¥36.3tJP¥20.9tJP¥2.2t18.5x16.3x1.7x
Wed, 31 Jul 2024JP¥35.8tJP¥20.4tJP¥2.2t18.8x16.7x1.8x
Fri, 28 Jun 2024JP¥34.8tJP¥20.4tJP¥2.1t19x16.3x1.7x
Sun, 26 May 2024JP¥35.0tJP¥20.4tJP¥2.1t18.1x16.5x1.7x
Tue, 23 Apr 2024JP¥36.3tJP¥20.1tJP¥2.2t19.3x16.8x1.8x
Thu, 21 Mar 2024JP¥36.6tJP¥20.1tJP¥2.1t19.1x17.1x1.8x
Sat, 17 Feb 2024JP¥33.8tJP¥20.0tJP¥2.1t18.6x15.8x1.7x
Mon, 15 Jan 2024JP¥35.0tJP¥19.9tJP¥2.1t18.2x16.4x1.8x
Wed, 13 Dec 2023JP¥34.0tJP¥20.0tJP¥2.1t17.5x15.9x1.7x
Fri, 10 Nov 2023JP¥33.1tJP¥19.8tJP¥2.1t17.3x15.9x1.7x
Sun, 08 Oct 2023JP¥32.9tJP¥19.6tJP¥2.1t17.3x15.9x1.7x
Tue, 05 Sep 2023JP¥33.9tJP¥19.6tJP¥2.1t18x16.4x1.7x
Thu, 03 Aug 2023JP¥32.0tJP¥19.3tJP¥2.0t16.5x15.7x1.7x
Sat, 01 Jul 2023JP¥31.8tJP¥19.4tJP¥2.0t16x15.7x1.6x
Price to Earnings Ratio

15.7x


Total Market Cap: JP¥31.8tTotal Earnings: JP¥2.0tTotal Revenue: JP¥19.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Real Estate Sector Price to Earnings3Y Average 16.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Japanese Real Estate industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.1x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 8.6% per year over the last three years.
  • Revenues for these companies have grown 5.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Japanese Real Estate sector?

JP Market-0.22%
Real Estate-2.11%
Health Care REITs1.58%
Office REITs0.19%
Retail REITs0.0058%
Residential REITs-0.051%
Industrial REITs-0.052%
REITS-0.62%
Hotel and Resort REITs-0.91%
Real Estate-3.35%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry, which is trading close to its 3-year average PE ratio of 26.2x.
    • Analysts are expecting annual earnings growth of 0.5%, which is lower than the prior year's growth of 8.9% per year.
  • Investors are most pessimistic about the Real Estate industry, which is trading close to its 3-year average of 13.2x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 5.5% over the next 5 years.
  • However this is lower than its past earnings growth rate of 13% per year.
  • In contrast, the Retail REITs industry is expected to see its earnings decline by 2.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
8951 Nippon Building FundJP¥123.50k1.8%
+JP¥19.4b		-7.4%PB1.5x
8954 ORIX JREITJP¥96.30k2.7%
+JP¥13.8b		1.6%PB1.5x
3281 GLP J-REITJP¥135.50k1.8%
+JP¥11.5b		3.7%PB1.4x
8953 Japan Metropolitan Fund InvestmentJP¥111.50k1.5%
+JP¥11.5b		8.6%PB1.2x
8923 ToseiJP¥1.65k6.1%
+JP¥9.2b		28.9%PE9.5x

Latest News

1925
JP¥4,320.00
Daiwa House Industry
7D
-0.9%
1Y
-12.6%
8951
JP¥123,500.00
Nippon Building Fund
7D
1.8%
1Y
-7.4%
3003
JP¥1,690.00
Hulic
7D
-1.5%
1Y
16.3%
8804
JP¥3,242.00
Tokyo Tatemono
7D
-2.8%
1Y
26.5%
3281
JP¥135,500.00
GLP J-REIT
7D
1.8%
1Y
3.7%
8802
JP¥3,867.00
Mitsubishi Estate
7D
-6.9%
1Y
45.8%
8830
JP¥3,463.00
Sumitomo Realty & Development
7D
-1.6%
1Y
23.2%
8801
JP¥1,464.00
Mitsui Fudosan
7D
-3.5%
1Y
6.6%
Narrative Update • Jun 16

8801: Share Repurchases And Dividend Plans Will Support Future Upside

The analyst price target for Mitsui Fudosan has been adjusted slightly from ¥2,177.27 to ¥2,173.64, with analysts pointing to updated assumptions around the discount rate, revenue growth, profit margin, and future P/E as the key drivers of this fine-tuning. What's in the News Mitsui Fudosan completed a share repurchase tranche between May 13, 2026 and May 27, 2026, buying 26,250,100 shares (0.97% of shares) for ¥39,999.88 million under the buyback announced on May 13, 2026 (Key Developments).
8952
JP¥114,800.00
Japan Real Estate Investment
7D
0.7%
1Y
-3.4%
3283
JP¥85,400.00
Nippon Prologis REIT
7D
1.2%
1Y
5.0%
Narrative Update • Jun 11

3283: Higher Margin Outlook And Lower Discount Rate Will Support Future Returns

Nippon Prologis REIT’s analyst fair value estimate has been trimmed slightly from ¥100,150 to ¥99,990 as analysts factor in softer revenue growth, a higher profit margin outlook, and a modestly lower assumed discount rate and future P/E. What's in the News The analyst fair value estimate is adjusted to ¥99,990, reflecting updated assumptions for revenue growth, profit margins, and valuation inputs.
3231
JP¥900.40
Nomura Real Estate Holdings
7D
-3.0%
1Y
6.9%
Narrative Update • Jun 05

3231: Refined Profitability Assumptions Will Support Attractive Future Return Profile

Analysts have nudged their price target for Nomura Real Estate Holdings slightly higher to ¥1,163.40 from ¥1,159.40, citing updated assumptions around revenue growth, profit margins, and the stock's future P/E as the main factors behind this adjustment. What's in the News Analysts adjusted their assumptions for Nomura Real Estate Holdings, focusing on revenue growth, profit margins, and the stock's future P/E when updating their price target.
8953
JP¥111,500.00
Japan Metropolitan Fund Investment
7D
1.5%
1Y
8.6%
3289
JP¥1,259.50
Tokyu Fudosan Holdings
7D
-4.0%
1Y
22.1%
New Narrative • Jun 03

Shibuya Real Estate And Renewable Energy Platform Will Support A Stronger Long Term Outlook

Catalysts About Tokyu Fudosan Holdings Tokyu Fudosan Holdings is a Japan based real estate group involved in urban development, brokerage, rental housing, hotels, renewable energy and related services. What are the underlying business or industry changes driving this perspective?
3462
JP¥149,600.00
Nomura Real Estate Master Fund
7D
0.9%
1Y
1.1%
8954
JP¥96,300.00
ORIX JREIT
7D
2.7%
1Y
1.6%
8923
JP¥1,645.00
Tosei
7D
6.1%
1Y
28.9%
Analysis Article • Apr 08

Earnings Update: Tosei Corporation Beat Earnings And Now Analysts Have New Forecasts For This Year

A week ago, Tosei Corporation ( TSE:8923 ) came out with a strong set of first-quarter numbers that could potentially...