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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies13
  • 7D-0.5%
  • 3M-1.6%
  • 1Y18.0%
  • YTDn/a

Over the last 7 days, the Office REITs industry has remained flat. As for the the longer term, the industry is up 19% 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
Sat, 14 Mar 2026JP¥4.7tJP¥446.1bJP¥205.2b22x22.9x10.6x
Mon, 09 Feb 2026JP¥4.6tJP¥425.9bJP¥194.6b23.1x23.8x10.9x
Wed, 07 Jan 2026JP¥4.6tJP¥425.1bJP¥194.3b22.4x23.8x10.9x
Fri, 05 Dec 2025JP¥4.6tJP¥417.0bJP¥190.9b22.8x23.8x10.9x
Sun, 02 Nov 2025JP¥4.5tJP¥417.1bJP¥190.1b22.8x23.9x10.9x
Tue, 30 Sep 2025JP¥4.2tJP¥396.3bJP¥178.9b23.4x23.7x10.7x
Thu, 28 Aug 2025JP¥4.1tJP¥396.7bJP¥178.3b22.1x22.8x10.2x
Sat, 26 Jul 2025JP¥4.1tJP¥391.9bJP¥174.7b23.4x23.6x10.5x
Mon, 23 Jun 2025JP¥4.0tJP¥391.9bJP¥174.7b22.6x22.9x10.2x
Wed, 21 May 2025JP¥3.8tJP¥390.8bJP¥172.4b21.3x22.3x9.8x
Fri, 18 Apr 2025JP¥3.9tJP¥379.7bJP¥166.1b21.6x23.3x10.2x
Sun, 16 Mar 2025JP¥3.7tJP¥393.1bJP¥173.2b20.1x21.2x9.3x
Tue, 11 Feb 2025JP¥3.6tJP¥387.3bJP¥168.6b20.1x21.5x9.4x
Thu, 09 Jan 2025JP¥3.6tJP¥392.7bJP¥170.2b19.2x20.9x9x
Sat, 07 Dec 2024JP¥3.6tJP¥392.7bJP¥170.2b18.8x21.1x9.1x
Mon, 04 Nov 2024JP¥3.7tJP¥387.3bJP¥168.9b19.2x21.9x9.5x
Wed, 02 Oct 2024JP¥3.8tJP¥403.7bJP¥169.6b19.7x22.6x9.5x
Fri, 30 Aug 2024JP¥3.9tJP¥400.5bJP¥165.7b20.4x23.5x9.7x
Sun, 28 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20x21.5x8.9x
Tue, 25 Jun 2024JP¥3.6tJP¥404.7bJP¥166.6b20x21.6x8.9x
Thu, 23 May 2024JP¥3.7tJP¥403.9bJP¥170.0b20.5x21.5x9.1x
Sat, 20 Apr 2024JP¥3.7tJP¥395.8bJP¥163.5b20.4x22.7x9.4x
Mon, 18 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b20.3x22.2x9.3x
Wed, 14 Feb 2024JP¥3.7tJP¥392.5bJP¥165.0b20.2x22.5x9.5x
Fri, 12 Jan 2024JP¥3.9tJP¥392.6bJP¥165.2b21.4x23.7x10x
Sun, 10 Dec 2023JP¥3.9tJP¥395.0bJP¥164.5b21.6x23.6x9.8x
Tue, 07 Nov 2023JP¥4.2tJP¥423.9bJP¥181.1b21.3x23.1x9.9x
Thu, 05 Oct 2023JP¥4.2tJP¥424.8bJP¥184.9b21x22.6x9.8x
Sat, 02 Sep 2023JP¥4.3tJP¥428.0bJP¥184.9b22.2x23.5x10.1x
Mon, 31 Jul 2023JP¥4.2tJP¥427.3bJP¥191.5b21.7x22.1x9.9x
Wed, 28 Jun 2023JP¥4.1tJP¥427.2bJP¥192.9b21x21.3x9.6x
Fri, 26 May 2023JP¥3.9tJP¥418.8bJP¥184.9b20.1x21.1x9.3x
Sun, 23 Apr 2023JP¥4.2tJP¥427.1bJP¥190.2b20.9x22x9.8x
Tue, 21 Mar 2023JP¥4.1tJP¥430.6bJP¥194.7b20.5x21.2x9.6x
Price to Earnings Ratio

21.2x


Total Market Cap: JP¥4.1tTotal 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 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 Comparison

How does Japanese Office REITs compare with similar industries?

JP Market-2.28%
Real Estate-3.59%
REITS-0.71%
Office REITs-0.45%
Retail REITs0.39%
Residential REITs-0.63%
Diversified REITs-0.71%
Industrial REITs-0.74%
Healthcare REITs-1.03%
Hotel and Resort REITs-2.07%
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
8957 Tokyu REITJP¥207.70k1.4%
+JP¥2.7b		25.8%PB1.6x
8951 Nippon Building FundJP¥143.90k0.2%
+JP¥2.6b		15.5%PB1.7x
2972 SANKEI REAL ESTATEJP¥127.00k1.4%
+JP¥840.8m		52.3%PB1.2x

Latest News

8952
JP¥127,200.00
Japan Real Estate Investment
7D
-0.6%
1Y
20.9%

8952: Kandabashi Acquisition And Dividend Policy Will Support Steady Future Returns

Analysts have kept the price target for Japan Real Estate Investment steady at ¥134,900, citing only marginal tweaks to assumptions such as a slightly lower discount rate, a very small adjustment to long term revenue decline expectations, and a nearly unchanged future P/E estimate around 29.9x. What's in the News A board meeting is scheduled for March 6, 2026 to review an announcement of a personnel change in an executive officer at the asset management company and to consider other matters on the agenda (Key Developments).
8954
JP¥101,700.00
ORIX JREIT
7D
-0.6%
1Y
15.9%
8955
JP¥102,800.00
Japan Prime Realty Investment
7D
-0.6%
1Y
21.1%
8951
JP¥143,900.00
Nippon Building Fund
7D
0.2%
1Y
15.5%

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).
8987
JP¥150,400.00
Japan Excellent
7D
-0.8%
1Y
19.5%
3290
JP¥80,600.00
One REIT
7D
-4.6%
1Y
1.1%
2972
JP¥127,000.00
SANKEI REAL ESTATE
7D
1.4%
1Y
52.3%
8976
JP¥351,500.00
Daiwa Office Investment
7D
-1.3%
1Y
23.9%
3234
JP¥142,800.00
Mori Hills REIT Investment
7D
-1.2%
1Y
7.9%
8957
JP¥207,700.00
Tokyu REIT
7D
1.4%
1Y
25.8%
8958
JP¥136,800.00
Global One Real Estate Investment
7D
-1.7%
1Y
20.3%