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Japanese (NIKKEI) Real Estate Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies166
  • 7D-3.5%
  • 3M12.1%
  • 1Y38.1%
  • YTD8.6%

Over the last 7 days, the Real Estate industry has dropped 3.5%, driven by Mitsubishi Estate declining 5.8%. Over the past 12 months, the industry was up 38%. Looking forward, earnings are forecast to grow by 3.8% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026JP¥46.2tJP¥22.3tJP¥2.6t16.9x17.9x2.1x
Mon, 02 Feb 2026JP¥43.0tJP¥21.8tJP¥2.5t17.1x17.4x2x
Wed, 31 Dec 2025JP¥42.6tJP¥21.8tJP¥2.5t17.6x17.2x2x
Fri, 28 Nov 2025JP¥42.7tJP¥21.7tJP¥2.5t17.2x17.2x2x
Sun, 26 Oct 2025JP¥40.4tJP¥21.5tJP¥2.4t17.3x16.5x1.9x
Tue, 23 Sep 2025JP¥40.3tJP¥21.4tJP¥2.4t17.5x16.5x1.9x
Thu, 21 Aug 2025JP¥40.0tJP¥21.4tJP¥2.4t17.9x16.4x1.9x
Sat, 19 Jul 2025JP¥35.6tJP¥21.1tJP¥2.4t17.5x14.8x1.7x
Mon, 16 Jun 2025JP¥36.3tJP¥21.5tJP¥2.4t17.4x14.9x1.7x
Wed, 14 May 2025JP¥36.1tJP¥21.5tJP¥2.4t16.6x15.1x1.7x
Fri, 11 Apr 2025JP¥35.2tJP¥21.2tJP¥2.3t16.2x15.2x1.7x
Sun, 09 Mar 2025JP¥34.1tJP¥21.2tJP¥2.3t17x14.7x1.6x
Tue, 04 Feb 2025JP¥35.1tJP¥21.3tJP¥2.2t17x15.7x1.6x
Thu, 02 Jan 2025JP¥34.2tJP¥21.0tJP¥2.2t16.9x15.6x1.6x
Sat, 30 Nov 2024JP¥33.7tJP¥21.0tJP¥2.2t16.8x15.5x1.6x
Mon, 28 Oct 2024JP¥34.0tJP¥20.9tJP¥2.3t17.1x15.1x1.6x
Wed, 25 Sep 2024JP¥35.2tJP¥20.8tJP¥2.2t17.6x15.7x1.7x
Fri, 23 Aug 2024JP¥35.6tJP¥20.9tJP¥2.2t18.3x16x1.7x
Sun, 21 Jul 2024JP¥36.1tJP¥20.4tJP¥2.1t19.2x16.8x1.8x
Tue, 18 Jun 2024JP¥34.5tJP¥20.4tJP¥2.1t18.8x16.3x1.7x
Thu, 16 May 2024JP¥36.3tJP¥20.3tJP¥2.1t19.1x17.2x1.8x
Sat, 13 Apr 2024JP¥37.7tJP¥20.1tJP¥2.2t19.3x17.5x1.9x
Mon, 11 Mar 2024JP¥34.3tJP¥20.1tJP¥2.1t19.2x16x1.7x
Wed, 07 Feb 2024JP¥34.2tJP¥19.9tJP¥2.1t18.3x16.1x1.7x
Fri, 05 Jan 2024JP¥33.7tJP¥20.0tJP¥2.1t18.1x15.8x1.7x
Sun, 03 Dec 2023JP¥33.9tJP¥19.9tJP¥2.1t18x15.9x1.7x
Tue, 31 Oct 2023JP¥32.3tJP¥19.6tJP¥2.1t17.3x15.5x1.6x
Thu, 28 Sep 2023JP¥33.8tJP¥19.6tJP¥2.1t18.2x16.4x1.7x
Sat, 26 Aug 2023JP¥32.6tJP¥19.6tJP¥2.1t17.8x15.9x1.7x
Mon, 24 Jul 2023JP¥31.8tJP¥19.4tJP¥2.0t17x15.6x1.6x
Wed, 21 Jun 2023JP¥31.8tJP¥19.4tJP¥2.0t16.3x15.7x1.6x
Fri, 19 May 2023JP¥30.9tJP¥19.3tJP¥2.0t16.4x15.3x1.6x
Sun, 16 Apr 2023JP¥29.7tJP¥19.1tJP¥1.9t16.1x15.6x1.6x
Tue, 14 Mar 2023JP¥29.8tJP¥19.0tJP¥1.9t16.3x15.6x1.6x
Price to Earnings Ratio

15.6x


Total Market Cap: JP¥29.8tTotal Earnings: JP¥1.9tTotal Revenue: JP¥19.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Real Estate Sector Price to Earnings3Y Average 16x202420252026
Current Industry PE
  • Investors are optimistic on the Japanese Real Estate industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 17.9x which is higher than its 3-year average PE of 16.0x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 5.6% 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-5.40%
Real Estate-3.51%
Industrial REITs-0.44%
Residential REITs-1.37%
Office REITs-1.72%
REITS-1.80%
Retail REITs-2.48%
Health Care REITs-2.55%
Real Estate-4.50%
Hotel and Resort REITs-4.89%
Industry PE
  • Investors are most optimistic about the Industrial REITs industry which is trading above its 3-year average PE ratio of 26.4x.
    • Analysts are expecting annual earnings growth of 4.5%, which is higher than its past year's earnings growth of 1.0% per year.
  • Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 12.9x.
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 23% per year.
  • In contrast, the Office REITs industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
1878 Daito Trust ConstructionLtdJP¥3.64k1.2%
+JP¥14.0b		17.5%PE12.7x
2337 IchigoJP¥477.007.7%
+JP¥12.9b		30.7%PE11.4x
3283 Nippon Prologis REITJP¥92.20k0.7%
+JP¥5.0b		18.8%PB1.6x
3466 LaSalle LOGIPORT REITJP¥156.30k1.5%
+JP¥4.1b		14.5%PB1.3x
3496 AzoomLtdJP¥4.80k6.6%
+JP¥3.6b		48.0%PE30.3x

Latest News

8804
JP¥4,124.00
Tokyo Tatemono
7D
-5.7%
1Y
69.3%
8802
JP¥4,974.00
Mitsubishi Estate
7D
-5.8%
1Y
127.2%
2337
JP¥477.00
Ichigo
7D
7.7%
1Y
30.7%

2337: Future Returns Will Rely On Expanded Share Buybacks Despite Risks

Analysts have maintained their price target for Ichigo at ¥415. They made small adjustments to their assumptions, including a slightly lower discount rate, a modestly different revenue growth outlook, a marginally adjusted profit margin view, and a revised future P/E input, all of which support this unchanged target.
3003
JP¥1,973.00
Hulic
7D
-4.6%
1Y
42.0%
3231
JP¥1,098.00
Nomura Real Estate Holdings
7D
-5.5%
1Y
28.6%

3231: Higher Dividend Outlook And Stable Earnings Will Support Balanced Return Profile

Analysts have maintained their ¥1,114.40 price target on Nomura Real Estate Holdings, with small adjustments to assumptions for the discount rate, revenue growth, profit margin, and future P/E, now at 13.15x, reflecting a slightly updated view of the company’s earnings profile. What's in the News A board meeting is scheduled for January 28, 2026 to consider and approve a revision to the forecast for the fiscal year-end dividend (Key Developments).
3283
JP¥92,200.00
Nippon Prologis REIT
7D
0.7%
1Y
18.8%
8801
JP¥2,017.50
Mitsui Fudosan
7D
-4.2%
1Y
55.9%

8801: Buybacks And Residential Venture Will Support Balanced Returns Into 2026

Analysts have raised their price target on Mitsui Fudosan from ¥2,037.50 to ¥2,123.64, reflecting updated views on fair value, discount rate, profit margins, and expected future P/E levels. What's in the News Mahindra Lifespace Developers and Mitsui Fudosan Group formed a joint venture for Mahindra Blossom, a premium high rise residential project in Whitefield, Bengaluru.
3466
JP¥156,300.00
LaSalle LOGIPORT REIT
7D
1.5%
1Y
14.5%
3487
JP¥165,100.00
CRE Logistics REIT
7D
0.5%
1Y
14.7%
1925
JP¥5,331.00
Daiwa House Industry
7D
-5.5%
1Y
7.1%
8876
JP¥1,928.50
Relo Group
7D
0.1%
1Y
-3.6%
8914
JP¥1,318.00
Arealink
7D
2.7%
1Y
31.8%
3289
JP¥1,446.00
Tokyu Fudosan Holdings
7D
-7.9%
1Y
47.4%

Tokyu Fudosan Holdings Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Feb 10
Tokyu Fudosan Holdings Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
8830
JP¥5,083.00
Sumitomo Realty & Development
7D
-3.9%
1Y
91.8%
1878
JP¥3,643.00
Daito Trust ConstructionLtd
7D
1.2%
1Y
17.5%
3496
JP¥4,795.00
AzoomLtd
7D
6.6%
1Y
48.0%