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Japanese (NIKKEI) Industrial REITs Industry Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies9
  • 7D1.6%
  • 3M9.9%
  • 1Y23.3%
  • YTD20.7%

Over the last 7 days, the Industrial REITs industry has risen 1.6%, driven by gains from every company within the industry. In the last 12 months, the industry was up 23%. As for the next few years, earnings are expected to grow by 5.1% per annum.

Industry Valuation and Performance

Has the Japanese Industrial REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025JP¥3.2tJP¥225.0bJP¥104.6b28.1x31x14.4x
Sat, 22 Nov 2025JP¥3.2tJP¥224.6bJP¥104.7b28.4x30.6x14.2x
Mon, 20 Oct 2025JP¥3.0tJP¥237.5bJP¥110.7b23.6x27.3x12.7x
Wed, 17 Sep 2025JP¥3.0tJP¥265.9bJP¥123.1b23.2x24x11.1x
Fri, 15 Aug 2025JP¥2.9tJP¥266.7bJP¥123.2b23x23.6x10.9x
Sun, 13 Jul 2025JP¥2.8tJP¥262.0bJP¥120.2b23.8x23.3x10.7x
Tue, 10 Jun 2025JP¥2.7tJP¥262.0bJP¥120.2b22.6x22.7x10.4x
Thu, 08 May 2025JP¥2.8tJP¥229.7bJP¥105.2b24.2x26.5x12.1x
Sat, 05 Apr 2025JP¥2.7tJP¥259.5bJP¥118.1b22.4x23x10.5x
Mon, 03 Mar 2025JP¥2.8tJP¥259.4bJP¥117.9b21.4x23.8x10.8x
Wed, 29 Jan 2025JP¥2.8tJP¥259.4bJP¥117.9b22.7x23.6x10.7x
Fri, 27 Dec 2024JP¥2.7tJP¥259.0bJP¥117.7b21.4x22.7x10.3x
Sun, 24 Nov 2024JP¥2.7tJP¥254.5bJP¥115.7b22.2x23.7x10.8x
Tue, 22 Oct 2024JP¥2.8tJP¥261.9bJP¥118.8b23.4x23.9x10.8x
Thu, 19 Sep 2024JP¥3.0tJP¥258.3bJP¥115.2b25.4x25.7x11.5x
Sat, 17 Aug 2024JP¥3.0tJP¥255.0bJP¥113.5b25.5x26.2x11.7x
Mon, 15 Jul 2024JP¥2.9tJP¥253.4bJP¥112.0b25.2x26.2x11.6x
Wed, 12 Jun 2024JP¥2.9tJP¥253.4bJP¥112.0b24.8x25.8x11.4x
Fri, 10 May 2024JP¥3.1tJP¥253.2bJP¥113.3b25.6x27.1x12.1x
Sun, 07 Apr 2024JP¥2.9tJP¥249.2bJP¥111.8b25.6x26.2x11.7x
Tue, 05 Mar 2024JP¥2.8tJP¥248.5bJP¥110.2b24.6x25.6x11.4x
Thu, 01 Feb 2024JP¥2.9tJP¥249.7bJP¥111.6b26.4x26.3x11.7x
Sat, 30 Dec 2023JP¥3.0tJP¥245.2bJP¥108.7b26.5x28x12.4x
Mon, 27 Nov 2023JP¥3.1tJP¥243.9bJP¥108.3b27.4x28.4x12.6x
Wed, 25 Oct 2023JP¥3.0tJP¥243.1bJP¥108.3b27.1x27.4x12.2x
Fri, 22 Sep 2023JP¥3.0tJP¥240.9bJP¥112.0b27.6x27.2x12.6x
Sun, 20 Aug 2023JP¥3.1tJP¥238.6bJP¥110.9b28.8x28x13x
Tue, 18 Jul 2023JP¥3.2tJP¥239.6bJP¥112.3b30.3x28.7x13.5x
Thu, 15 Jun 2023JP¥3.3tJP¥242.7bJP¥109.1b30.8x29.9x13.4x
Sat, 13 May 2023JP¥3.3tJP¥236.8bJP¥112.0b31.4x29.6x14x
Mon, 10 Apr 2023JP¥3.2tJP¥236.6bJP¥106.8b29.9x29.6x13.4x
Price to Earnings Ratio

29.2x


Total Market Cap: JP¥3.1tTotal Earnings: JP¥104.9bTotal Revenue: JP¥233.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Industrial REITs Industry Price to Earnings3Y Average 26.2x20242025
Current Industry PE
  • Investors are optimistic on the Japanese Industrial REITs industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 31.0x which is higher than its 3-year average PE of 26.2x.
  • The 3-year average PS ratio of 11.9x is lower than the industry's current PS ratio of 14.4x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Industrial REITs industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

JP Market1.23%
Real Estate0.76%
Industrial REITs1.62%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
3249 Industrial & Infrastructure Fund InvestmentJP¥155.50k3.5%
+JP¥13.4b		35.6%PB1.6x
3281 GLP J-REITJP¥149.00k1.7%
+JP¥12.0b		20.8%PB1.6x
3283 Nippon Prologis REITJP¥94.00k1.5%
+JP¥11.7b		26.7%PB1.6x
3471 Mitsui Fudosan Logistics ParkJP¥123.00k2.7%
+JP¥10.3b		21.3%PB1.9x
3466 LaSalle LOGIPORT REITJP¥159.50k1.8%
+JP¥5.0b		13.0%PB1.3x

Latest News

3283
JP¥94,100.00
Nippon Prologis REIT
7D
1.6%
1Y
26.8%

3283: Modestly Higher Discount Rate Will Shape Fair Outlook For REIT

Analysts have modestly raised their fair value estimate for Nippon Prologis REIT from ¥94,770 to ¥96,000, citing slightly faster expected revenue growth and a higher justified earnings multiple. These positives are partially offset by a marginally lower profit margin and a higher discount rate.
3487
JP¥173,500.00
CRE Logistics REIT
7D
2.5%
1Y
23.5%
3249
JP¥155,100.00
Industrial & Infrastructure Fund Investment
7D
3.3%
1Y
35.2%

3249: Future Acquisitions And Dividend Payouts Will Support Fairly Valued Outlook

Analysts have modestly raised their price target on the Industrial and Infrastructure Fund, reflecting an updated fair value estimate that has increased from $149,833.33 to $153,666.67 as they factor in a slightly higher profit margin outlook along with marginally adjusted discount rates and valuation multiples. What's in the News Agreed acquisition of IIF Funabashi Logistics Center II in Chiba for JPY 9,123 million, below an appraisal value of JPY 10,200 million, resulting in an 11.8% unrealized gain and an NOI yield of 4.3% (Key Developments) Planned purchase of IIF Higashihiroshima Manufacturing Center for JPY 3,300 million versus a JPY 4,450 million appraisal, implying a 34.8% unrealized gain and a 6.0% NOI yield (Key Developments) Raised earnings guidance for the fiscal period ending July 31, 2026, with operating revenue now expected at JPY 23,380 million and net income at JPY 9,684 million, above prior forecasts (Key Developments) Multiple dividend upgrades, including guidance of JPY 4,310 per share for the period ending January 31, 2026 and JPY 4,000 per share for the following period ending July 31, 2026, indicating stronger distributable income (Key Developments) New strategic partnership structure JINUSHI KJRM GK with KKR Group, where IIF contributes land assets and retains a minority equity stake while a partner provides over 90% of equity, enhancing capital recycling capacity (Key Developments) Valuation Changes The consensus analyst price target fair value estimate has risen slightly, from ¥149,833.33 to ¥153,666.67, reflecting a modestly more optimistic outlook.
3466
JP¥159,500.00
LaSalle LOGIPORT REIT
7D
1.8%
1Y
13.0%
3481
JP¥133,900.00
Mitsubishi Estate Logistics REIT Investment
7D
2.0%
1Y
15.6%
3281
JP¥149,100.00
GLP J-REIT
7D
1.8%
1Y
20.9%
8967
JP¥104,700.00
Japan Logistics Fund
7D
1.6%
1Y
18.9%
3471
JP¥123,200.00
Mitsui Fudosan Logistics Park
7D
2.8%
1Y
21.5%