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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies12
  • 7D0.6%
  • 3M0.2%
  • 1Y20.3%
  • YTDn/a

The Office REITs industry has stayed flat over the last week. The past year has been better, since the industry has gained 20% in that time. As for the next few years, earnings are forecast to decline by 1.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026JP¥4.6tJP¥423.4bJP¥192.5b22.5x24.1x11x
Wed, 28 Jan 2026JP¥4.5tJP¥425.9bJP¥194.6b23x23.3x10.6x
Fri, 26 Dec 2025JP¥4.6tJP¥425.1bJP¥194.3b22.7x23.9x10.9x
Sun, 23 Nov 2025JP¥4.7tJP¥417.0bJP¥190.9b23.2x24.5x11.2x
Tue, 21 Oct 2025JP¥4.5tJP¥414.7bJP¥189.1b22.6x23.7x10.8x
Thu, 18 Sep 2025JP¥4.4tJP¥396.5bJP¥178.9b24.1x24.5x11.1x
Sat, 16 Aug 2025JP¥4.3tJP¥393.5bJP¥175.5b23.8x24.3x10.8x
Mon, 14 Jul 2025JP¥4.0tJP¥391.9bJP¥174.7b23x22.9x10.2x
Wed, 11 Jun 2025JP¥3.9tJP¥389.7bJP¥172.9b22.2x22.7x10.1x
Fri, 09 May 2025JP¥3.9tJP¥390.8bJP¥172.4b21.3x22.4x9.9x
Sun, 06 Apr 2025JP¥3.7tJP¥359.5bJP¥158.5b20.9x23.6x10.4x
Tue, 04 Mar 2025JP¥3.7tJP¥393.1bJP¥173.2b20.5x21.3x9.4x
Thu, 30 Jan 2025JP¥3.7tJP¥394.2bJP¥171.2b20.4x21.6x9.4x
Sat, 28 Dec 2024JP¥3.6tJP¥392.7bJP¥170.2b18.9x21x9.1x
Mon, 25 Nov 2024JP¥3.7tJP¥391.3bJP¥170.7b19.3x21.6x9.4x
Wed, 23 Oct 2024JP¥3.8tJP¥398.9bJP¥173.3b19.1x21.7x9.4x
Fri, 20 Sep 2024JP¥3.9tJP¥400.6bJP¥165.6b19.8x23.4x9.7x
Sun, 18 Aug 2024JP¥3.7tJP¥403.4bJP¥166.0b20x22.5x9.3x
Tue, 16 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20.1x21.6x8.9x
Thu, 13 Jun 2024JP¥3.5tJP¥408.8bJP¥169.9b19.7x20.9x8.7x
Sat, 11 May 2024JP¥3.7tJP¥399.3bJP¥167.1b20.7x22.4x9.4x
Mon, 08 Apr 2024JP¥3.7tJP¥390.9bJP¥163.5b20.4x22.4x9.4x
Wed, 06 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b20.1x22.3x9.3x
Fri, 02 Feb 2024JP¥3.8tJP¥392.4bJP¥164.9b20.6x22.9x9.6x
Sun, 31 Dec 2023JP¥3.9tJP¥393.3bJP¥165.2b21x23.4x9.8x
Tue, 28 Nov 2023JP¥3.9tJP¥395.1bJP¥167.7b21.7x23.3x9.9x
Thu, 26 Oct 2023JP¥4.2tJP¥424.1bJP¥181.1b21.3x23x9.8x
Sat, 23 Sep 2023JP¥4.2tJP¥424.8bJP¥184.9b21.5x23x10x
Mon, 21 Aug 2023JP¥4.2tJP¥432.0bJP¥191.1b21.7x21.8x9.6x
Wed, 19 Jul 2023JP¥4.1tJP¥427.4bJP¥192.9b20.7x21.4x9.7x
Fri, 16 Jun 2023JP¥4.0tJP¥420.2bJP¥185.1b20.6x21.8x9.6x
Sun, 14 May 2023JP¥3.9tJP¥416.7bJP¥184.1b20.2x21.2x9.4x
Tue, 11 Apr 2023JP¥4.2tJP¥426.2bJP¥190.5b21.1x21.9x9.8x
Thu, 09 Mar 2023JP¥4.3tJP¥430.6bJP¥194.7b20.8x21.9x9.9x
Price to Earnings Ratio

21.9x


Total Market Cap: JP¥4.3tTotal Earnings: JP¥194.7bTotal Revenue: JP¥430.6bTotal 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 3-year average PS ratio of 9.8x is lower than the industry's current PS ratio of 11.0x.
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 Comparison

How does Japanese Office REITs compare with similar industries?

JP Market3.27%
Real Estate1.84%
REITS-0.15%
Office REITs0.64%
Healthcare REITs1.33%
Industrial REITs0.24%
Diversified REITs-0.15%
Residential REITs-0.19%
Retail REITs-1.36%
Hotel and Resort REITs-1.64%
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
8952 Japan Real Estate InvestmentJP¥131.00k3.5%
+JP¥31.3b		22.1%PB1.7x
8951 Nippon Building FundJP¥146.40k1.5%
+JP¥19.4b		17.8%PB1.8x
8976 Daiwa Office InvestmentJP¥369.50k1.8%
+JP¥6.1b		24.7%PB1.4x
3234 Mori Hills REIT InvestmentJP¥147.30k1.3%
+JP¥3.6b		11.1%PB1.4x
8975 Ichigo Office REIT InvestmentJP¥99.70k1.5%
+JP¥2.3b		20.6%PB1.5x

Latest News

8952
JP¥131,000.00
Japan Real Estate Investment
7D
3.5%
1Y
22.1%
8975
JP¥99,700.00
Ichigo Office REIT Investment
7D
1.5%
1Y
20.6%
8954
JP¥105,000.00
ORIX JREIT
7D
-0.8%
1Y
22.4%
8987
JP¥153,000.00
Japan Excellent
7D
0.8%
1Y
20.8%
8951
JP¥146,400.00
Nippon Building Fund
7D
1.5%
1Y
17.8%

8951: Equity Offering And Stable Distributions Will Shape A Balanced Outlook

Analysts have raised their price target on Nippon Building Fund from ¥143,792 to ¥146,500, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E. What's in the News Nippon Building Fund announced a distribution for the fiscal year ended December 31, 2025 of ¥2,495 per unit, with total distributions of ¥21,227 million, excluding distributions in excess of earnings (Key Developments).
3290
JP¥90,300.00
One REIT
7D
-0.4%
1Y
13.6%
2972
JP¥126,200.00
SANKEI REAL ESTATE
7D
-1.6%
1Y
48.5%
8976
JP¥369,500.00
Daiwa Office Investment
7D
1.8%
1Y
24.7%
3234
JP¥147,300.00
Mori Hills REIT Investment
7D
1.3%
1Y
11.1%
8957
JP¥211,900.00
Tokyu REIT
7D
0.4%
1Y
24.2%
8958
JP¥141,700.00
Global One Real Estate Investment
7D
1.6%
1Y
25.6%