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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies13
  • 7D-4.0%
  • 3M-12.9%
  • 1Y-5.3%
  • YTDn/a

Over the last 7 days, the Office REITs industry has dropped 4.0%, driven by declines from every company within the industry. Overall the industry is down 5.3% in 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
Mon, 08 Jun 2026JP¥4.1tJP¥451.7bJP¥203.6b18.9x20.3x9.2x
Wed, 06 May 2026JP¥4.4tJP¥454.6bJP¥203.7b20.2x21.7x9.7x
Fri, 03 Apr 2026JP¥4.4tJP¥448.6bJP¥205.7b20.7x21.6x9.9x
Sun, 01 Mar 2026JP¥4.6tJP¥423.4bJP¥192.5b22.5x24.1x11x
Tue, 27 Jan 2026JP¥4.6tJP¥425.9bJP¥194.6b23.1x23.5x10.7x
Thu, 25 Dec 2025JP¥4.6tJP¥425.1bJP¥194.3b22.5x23.7x10.8x
Sat, 22 Nov 2025JP¥4.7tJP¥417.0bJP¥190.9b23.2x24.5x11.2x
Mon, 20 Oct 2025JP¥4.5tJP¥414.7bJP¥189.1b22.6x23.7x10.8x
Wed, 17 Sep 2025JP¥4.4tJP¥396.5bJP¥178.9b24.3x24.6x11.1x
Fri, 15 Aug 2025JP¥4.2tJP¥393.5bJP¥175.5b23.8x24.2x10.8x
Sun, 13 Jul 2025JP¥4.0tJP¥391.9bJP¥174.7b23x22.9x10.2x
Tue, 10 Jun 2025JP¥3.9tJP¥389.7bJP¥172.9b22.2x22.7x10x
Thu, 08 May 2025JP¥3.9tJP¥390.8bJP¥172.4b21.6x22.5x9.9x
Sat, 05 Apr 2025JP¥3.7tJP¥359.5bJP¥158.5b20.9x23.6x10.4x
Mon, 03 Mar 2025JP¥3.7tJP¥393.1bJP¥173.2b20.5x21.2x9.4x
Wed, 29 Jan 2025JP¥3.7tJP¥394.2bJP¥171.2b20.3x21.5x9.3x
Fri, 27 Dec 2024JP¥3.6tJP¥392.7bJP¥170.2b19.3x21.1x9.1x
Sun, 24 Nov 2024JP¥3.7tJP¥391.3bJP¥170.7b19.3x21.6x9.4x
Tue, 22 Oct 2024JP¥3.8tJP¥398.4bJP¥169.7b19.3x22.2x9.4x
Thu, 19 Sep 2024JP¥3.9tJP¥400.6bJP¥165.6b19.9x23.4x9.7x
Sat, 17 Aug 2024JP¥3.7tJP¥403.4bJP¥166.0b20x22.5x9.3x
Mon, 15 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20.1x21.6x8.9x
Wed, 12 Jun 2024JP¥3.5tJP¥408.8bJP¥169.9b19.7x20.9x8.7x
Fri, 10 May 2024JP¥3.7tJP¥399.3bJP¥167.1b20.9x22.4x9.4x
Sun, 07 Apr 2024JP¥3.7tJP¥390.9bJP¥163.5b20.4x22.4x9.4x
Tue, 05 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b20.2x22.3x9.3x
Thu, 01 Feb 2024JP¥3.8tJP¥392.4bJP¥164.9b20.9x23.1x9.7x
Sat, 30 Dec 2023JP¥3.9tJP¥393.8bJP¥164.2b21.3x23.6x9.8x
Mon, 27 Nov 2023JP¥3.9tJP¥395.1bJP¥167.7b21.7x23.2x9.9x
Wed, 25 Oct 2023JP¥4.1tJP¥424.1bJP¥181.1b21.1x22.8x9.7x
Fri, 22 Sep 2023JP¥4.3tJP¥424.8bJP¥184.9b21.8x23x10x
Sun, 20 Aug 2023JP¥4.2tJP¥432.0bJP¥191.1b21.7x21.8x9.6x
Tue, 18 Jul 2023JP¥4.1tJP¥427.4bJP¥192.9b20.7x21.5x9.7x
Thu, 15 Jun 2023JP¥4.0tJP¥420.2bJP¥185.1b20.4x21.6x9.5x
Price to Earnings Ratio

21.6x


Total Market Cap: JP¥4.0tTotal Earnings: JP¥185.1bTotal Revenue: JP¥420.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Office REITs Industry Price to Earnings3Y Average 22.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Japanese Office REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 20.3x which is lower than its 3-year average PE of 22.6x.
  • The industry is trading close to its 3-year average PS ratio of 9.9x.
Past Earnings Growth
  • The earnings for companies in the Office REITs industry have grown 3.2% per year over the last three years.
  • Revenues for these companies have grown 2.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Japanese Office REITs compare with similar industries?

JP Market-0.18%
Real Estate-2.98%
REITS-2.85%
Office REITs-4.03%
Healthcare REITs-1.91%
Hotel and Resort REITs-2.25%
Industrial REITs-2.75%
Diversified REITs-2.85%
Retail REITs-2.90%
Residential REITs-3.77%
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
8976 Daiwa Office InvestmentJP¥315.50k0.5%
+JP¥1.4b		3.1%PB1.2x

Latest News

8951
JP¥121,100.00
Nippon Building Fund
7D
-2.8%
1Y
-8.2%
Narrative Update • Jun 05

8951: Stable Cash Flows And Higher Discount Rate Will Support Future Upside Potential

Analysts now set their price target for Nippon Building Fund at ¥147,150, down from ¥150,250. This reflects updated views on a slightly higher discount rate, modestly adjusted long term revenue growth and profit margin assumptions, and a revised future P/E of 32.47x from 33.16x.
8987
JP¥136,200.00
Japan Excellent
7D
-1.9%
1Y
3.1%
8952
JP¥111,900.00
Japan Real Estate Investment
7D
-1.5%
1Y
-5.2%
Narrative Update • Jun 03

8952: Portfolio Expansion And Steady Distributions Will Support Future Returns

Analysts have trimmed their price target for Japan real estate investments from ¥137,566.67 to ¥133,387.50, citing slightly higher required returns, a modestly softer profit margin outlook, and a lower future P/E assumption that more than offset higher modeled revenue growth. What's in the News Japan Real Estate Investment reported higher revenues and profits for the March 31, 2026 period, with improved margins, asset expansion, and a dividend of ¥2,536 per unit at a 97.0% payout ratio, according to recent earnings coverage (source: Japan Real Estate Investment Posts Higher Earnings and Steady Payouts for March 2026 Period).
8955
JP¥92,800.00
Japan Prime Realty Investment
7D
-1.0%
1Y
2.3%
8958
JP¥108,400.00
Global One Real Estate Investment
7D
-2.9%
1Y
-15.2%
8957
JP¥178,000.00
Tokyu REIT
7D
-2.2%
1Y
-4.6%
8976
JP¥315,500.00
Daiwa Office Investment
7D
0.5%
1Y
3.1%
3234
JP¥125,600.00
Mori Hills REIT Investment
7D
-1.8%
1Y
-4.0%
8975
JP¥83,900.00
Ichigo Office REIT Investment
7D
-2.3%
1Y
-5.0%