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Japanese (NIKKEI) Real Estate Sector Analysis

UpdatedJul 19, 2025
DataAggregated Company Financials
Companies163
  • 7D-0.9%
  • 3M1.8%
  • 1Y1.6%
  • YTD7.4%

The Real Estate industry has been flat over the last week, but Mitsui Fudosan has lost 3.2%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 2.8% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Thu, 09 Feb 2023JP¥29.6tJP¥18.8tJP¥1.9t16.6x15.6x1.6x
Sat, 07 Jan 2023JP¥29.4tJP¥18.8tJP¥1.9t16.8x15.4x1.6x
Mon, 05 Dec 2022JP¥31.3tJP¥18.8tJP¥1.9t17.3x16.3x1.7x
Wed, 02 Nov 2022JP¥32.1tJP¥18.6tJP¥1.9t17.9x16.7x1.7x
Fri, 30 Sep 2022JP¥31.2tJP¥18.4tJP¥1.9t18.3x16.4x1.7x
Sun, 28 Aug 2022JP¥32.5tJP¥18.4tJP¥1.9t18.6x17.1x1.8x
Tue, 26 Jul 2022JP¥32.1tJP¥18.0tJP¥1.8t18.2x17.9x1.8x
Price to Earnings Ratio

17.9x


Total Market Cap: JP¥32.1tTotal Earnings: JP¥1.8tTotal Revenue: JP¥18.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Real Estate Sector Price to Earnings3Y Average 15.9x202320242025
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 15.9x.
  • The industry is trading close to its 3-year average PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have grown 10% 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 Market0.40%
Real Estate-0.92%
Hotel and Resort REITs1.96%
Office REITs1.29%
REITS1.20%
Residential REITs0.83%
Health Care REITs0.60%
Retail REITs0.46%
Industrial REITs-0.36%
Real Estate-2.30%
Industry PE
  • Investors are most optimistic about the Residential REITs industry, which is trading close to its 3-year average PE ratio of 26.2x.
    • Analysts are expecting annual earnings growth of 1.0%, which is lower than the prior year's growth of 4.9% per year.
  • Investors are most pessimistic about the Real Estate industry, which is trading close to its 3-year average of 12.4x.
Forecasted Growth
  • Analysts are most optimistic on the Hotel and Resort REITs industry, expecting annual earnings growth of 7.0% over the next 5 years.
  • However this is lower than its past earnings growth rate of 39% per year.
  • In contrast, the Office REITs industry is expected to see its earnings decline by 2.3% 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¥133.50k2.1%
+JP¥24.2b		15.7%PB1.6x
8972 KDX Realty InvestmentJP¥157.90k2.1%
+JP¥13.3b		1.7%PB1x
8960 United Urban InvestmentJP¥161.90k2.3%
+JP¥11.0b		12.3%PB1.4x
8963 Invincible InvestmentJP¥65.10k2.0%
+JP¥9.9b		-1.7%PB1.4x
8985 Japan Hotel REIT InvestmentJP¥80.20k2.4%
+JP¥9.7b		1.5%PB1.4x

Latest News

1925
JP¥4,880.00
Daiwa House Industry
7D
-1.1%
1Y
14.5%
8960
JP¥161,900.00
United Urban Investment
7D
2.3%
1Y
12.3%
3279
JP¥127,800.00
Activia Properties
7D
2.4%
1Y
5.9%
8804
JP¥2,447.00
Tokyo Tatemono
7D
-4.5%
1Y
-8.1%

Why Investors Shouldn't Be Surprised By Tokyo Tatemono Co., Ltd.'s (TSE:8804) Low P/E

Jul 14
Why Investors Shouldn't Be Surprised By Tokyo Tatemono Co., Ltd.'s (TSE:8804) Low P/E
3003
JP¥1,428.50
Hulic
7D
-3.0%
1Y
-3.9%
8830
JP¥5,291.00
Sumitomo Realty & Development
7D
-3.8%
1Y
5.3%

Sumitomo Realty & Development (TSE:8830) Is Paying Out A Larger Dividend Than Last Year

Jul 10
Sumitomo Realty & Development (TSE:8830) Is Paying Out A Larger Dividend Than Last Year
3231
JP¥830.20
Nomura Real Estate Holdings
7D
-4.1%
1Y
-3.6%
8801
JP¥1,330.50
Mitsui Fudosan
7D
-3.2%
1Y
-13.5%

Mitsui Fudosan (TSE:8801) Has Announced That It Will Be Increasing Its Dividend To ¥16.50

Jul 10
Mitsui Fudosan (TSE:8801) Has Announced That It Will Be Increasing Its Dividend To ¥16.50
8802
JP¥2,689.50
Mitsubishi Estate
7D
-1.4%
1Y
1.5%

Mitsubishi Estate (TSE:8802) Is Paying Out A Larger Dividend Than Last Year

Jul 10
Mitsubishi Estate (TSE:8802) Is Paying Out A Larger Dividend Than Last Year
3289
JP¥1,006.00
Tokyu Fudosan Holdings
7D
-4.4%
1Y
-8.2%

Tokyu Fudosan Holdings' (TSE:3289) Shareholders Will Receive A Bigger Dividend Than Last Year

Jul 10
Tokyu Fudosan Holdings' (TSE:3289) Shareholders Will Receive A Bigger Dividend Than Last Year
8951
JP¥133,500.00
Nippon Building Fund
7D
2.1%
1Y
15.7%
8963
JP¥65,100.00
Invincible Investment
7D
2.0%
1Y
-1.7%
8972
JP¥157,900.00
KDX Realty Investment
7D
2.1%
1Y
1.7%
8952
JP¥118,600.00
Japan Real Estate Investment
7D
1.0%
1Y
13.2%
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Rising Rates Will Depress Office Values In Tokyo

Reliance on low interest rates, strong occupancy, and premium rents faces risk from demographic decline, office oversupply, and potential rate normalization in Japan.
6620
JP¥1,328.00
Miyakoshi Holdings
7D
17.5%
1Y
-51.1%
8985
JP¥80,200.00
Japan Hotel REIT Investment
7D
2.4%
1Y
1.5%