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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies13
  • 7D-1.0%
  • 3M-0.6%
  • 1Y19.8%
  • YTD-1.6%

In the last week, the Office REITs industry is flat overall, with One REIT standing out by going down 4.0%. As for the the longer term, the industry is up 20% over the past 12 months. In the next few years, earnings are forecast to decline by 1.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026JP¥4.7tJP¥446.1bJP¥205.2b22.1x23x10.6x
Fri, 06 Feb 2026JP¥4.7tJP¥425.9bJP¥194.6b23.3x23.9x10.9x
Sun, 04 Jan 2026JP¥4.6tJP¥425.1bJP¥194.3b22.4x23.7x10.8x
Tue, 02 Dec 2025JP¥4.6tJP¥417.0bJP¥190.9b23.1x24.1x11x
Thu, 30 Oct 2025JP¥4.5tJP¥417.1bJP¥190.1b22.8x23.8x10.8x
Sat, 27 Sep 2025JP¥4.4tJP¥396.5bJP¥178.9b24.1x24.4x11x
Mon, 25 Aug 2025JP¥4.4tJP¥396.7bJP¥178.3b24.2x24.4x11x
Wed, 23 Jul 2025JP¥4.1tJP¥391.9bJP¥174.7b23.3x23.4x10.4x
Fri, 20 Jun 2025JP¥4.0tJP¥391.9bJP¥174.7b22.6x22.9x10.2x
Sun, 18 May 2025JP¥3.9tJP¥390.8bJP¥172.4b21.6x22.5x9.9x
Tue, 15 Apr 2025JP¥3.9tJP¥385.0bJP¥165.9b21.5x23.2x10x
Thu, 13 Mar 2025JP¥3.6tJP¥393.1bJP¥173.2b19.9x21x9.2x
Sat, 08 Feb 2025JP¥3.7tJP¥387.3bJP¥168.6b20.2x21.7x9.4x
Mon, 06 Jan 2025JP¥3.6tJP¥392.7bJP¥170.2b18.8x20.9x9.1x
Wed, 04 Dec 2024JP¥3.6tJP¥392.6bJP¥170.2b19x21.3x9.2x
Fri, 01 Nov 2024JP¥3.8tJP¥398.9bJP¥173.3b19x21.8x9.5x
Sun, 29 Sep 2024JP¥3.9tJP¥403.7bJP¥169.6b20x23x9.7x
Tue, 27 Aug 2024JP¥3.8tJP¥400.5bJP¥165.7b19.9x23x9.5x
Thu, 25 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20.1x21.5x8.8x
Sat, 22 Jun 2024JP¥3.6tJP¥404.7bJP¥166.6b20x21.5x8.9x
Mon, 20 May 2024JP¥3.7tJP¥403.4bJP¥169.6b20.8x22x9.2x
Wed, 17 Apr 2024JP¥3.7tJP¥395.8bJP¥163.5b20.4x22.4x9.2x
Fri, 15 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b19.9x22.1x9.2x
Sun, 11 Feb 2024JP¥3.7tJP¥392.5bJP¥165.0b20x22.5x9.4x
Tue, 09 Jan 2024JP¥3.9tJP¥392.6bJP¥165.2b21.3x23.7x10x
Thu, 07 Dec 2023JP¥3.9tJP¥395.0bJP¥164.5b21.9x23.8x9.9x
Sat, 04 Nov 2023JP¥4.2tJP¥423.9bJP¥181.1b21.5x23x9.8x
Mon, 02 Oct 2023JP¥4.2tJP¥424.8bJP¥184.9b21.6x22.8x9.9x
Wed, 30 Aug 2023JP¥4.3tJP¥428.0bJP¥184.9b22.2x23.2x10x
Fri, 28 Jul 2023JP¥4.3tJP¥427.3bJP¥191.5b21.8x22.3x10x
Sun, 25 Jun 2023JP¥4.0tJP¥427.2bJP¥192.9b20.4x20.7x9.3x
Tue, 23 May 2023JP¥3.9tJP¥417.8bJP¥184.2b20.3x21.3x9.4x
Thu, 20 Apr 2023JP¥4.2tJP¥427.1bJP¥190.2b21.3x22.1x9.8x
Price to Earnings Ratio

21.2x


Total Market Cap: JP¥4.2tTotal Earnings: JP¥195.6bTotal Revenue: JP¥432.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Office REITs Industry Price to Earnings3Y Average 22.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Japanese Office REITs 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 22.6x.
  • The industry is trading close to its 3-year average PS ratio of 9.9x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Office 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 Market-2.75%
Real Estate-1.67%
Office REITs-0.96%
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
8951 Nippon Building FundJP¥145.30k2.1%
+JP¥26.4b		17.2%PB1.8x
8954 ORIX JREITJP¥103.20k2.1%
+JP¥11.6b		20.3%PB1.6x
8952 Japan Real Estate InvestmentJP¥128.60k1.1%
+JP¥10.0b		23.3%PB1.7x
3234 Mori Hills REIT InvestmentJP¥145.80k1.7%
+JP¥4.5b		11.3%PB1.3x
8957 Tokyu REITJP¥208.60k1.7%
+JP¥3.4b		27.5%PB1.6x

Latest News

8954
JP¥103,200.00
ORIX JREIT
7D
2.1%
1Y
20.3%
8955
JP¥103,700.00
Japan Prime Realty Investment
7D
0.3%
1Y
22.0%
8951
JP¥145,300.00
Nippon Building Fund
7D
2.1%
1Y
17.2%

8951: Equity Offering And Dividend Guidance Will Support A Balanced Outlook

Analysts have nudged their price target for Nippon Building Fund up from ¥146,500 to about ¥147,944, reflecting updated assumptions for slightly different revenue, profit margin, discount rate and future P/E inputs in their models. What's in the News Nippon Building Fund filed a follow on equity offering, covering a total of 157,200 units plus an additional 5,000 units, as part of its capital raising activities (Key Developments).
8952
JP¥128,600.00
Japan Real Estate Investment
7D
1.1%
1Y
23.3%
8987
JP¥151,900.00
Japan Excellent
7D
1.3%
1Y
22.8%
3296
JP¥93,400.00
NIPPON REIT Investment
7D
1.5%
1Y
16.9%
3290
JP¥84,000.00
One REIT
7D
-4.1%
1Y
6.8%
3234
JP¥145,800.00
Mori Hills REIT Investment
7D
1.7%
1Y
11.3%
8957
JP¥208,600.00
Tokyu REIT
7D
1.7%
1Y
27.5%