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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedJun 11, 2026
DataAggregated Company Financials
Companies13
  • 7D1.0%
  • 3M-11.5%
  • 1Y-3.0%
  • YTDn/a

Last week, the Office REITs industry hasn't moved much but Nippon Building Fund is up 3.0% in that time. As for the longer term, the industry has declined 3.0% in the last year. 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
Fri, 12 Jun 2026JP¥4.2tJP¥451.7bJP¥203.6b19.3x20.8x9.4x
Sun, 10 May 2026JP¥4.4tJP¥454.6bJP¥203.7b20.1x21.5x9.6x
Tue, 07 Apr 2026JP¥4.5tJP¥448.6bJP¥205.7b20.9x21.9x10x
Thu, 05 Mar 2026JP¥4.7tJP¥446.1bJP¥205.2b22x22.9x10.5x
Sat, 31 Jan 2026JP¥4.6tJP¥425.9bJP¥194.6b23x23.5x10.7x
Mon, 29 Dec 2025JP¥4.6tJP¥425.1bJP¥194.3b22.6x23.8x10.9x
Wed, 26 Nov 2025JP¥4.7tJP¥417.0bJP¥190.9b23.3x24.6x11.3x
Fri, 24 Oct 2025JP¥4.5tJP¥417.1bJP¥190.1b22.9x23.9x10.9x
Sun, 21 Sep 2025JP¥4.3tJP¥396.5bJP¥178.9b23.9x24.2x10.9x
Tue, 19 Aug 2025JP¥4.3tJP¥396.7bJP¥178.3b23.9x24.1x10.8x
Thu, 17 Jul 2025JP¥4.1tJP¥391.9bJP¥174.7b23.2x23.2x10.4x
Sat, 14 Jun 2025JP¥4.0tJP¥389.7bJP¥172.9b22.5x23.1x10.2x
Mon, 12 May 2025JP¥3.9tJP¥390.8bJP¥172.4b21.5x22.5x9.9x
Wed, 09 Apr 2025JP¥3.7tJP¥385.0bJP¥166.0b20.9x22.5x9.7x
Fri, 07 Mar 2025JP¥3.7tJP¥393.1bJP¥173.2b20.1x21.2x9.3x
Sun, 02 Feb 2025JP¥3.7tJP¥394.2bJP¥171.2b20.3x21.4x9.3x
Tue, 31 Dec 2024JP¥3.6tJP¥392.7bJP¥170.2b18.8x20.9x9.1x
Thu, 28 Nov 2024JP¥3.7tJP¥391.3bJP¥170.7b19.4x21.5x9.4x
Sat, 26 Oct 2024JP¥3.7tJP¥398.9bJP¥173.3b19x21.6x9.4x
Mon, 23 Sep 2024JP¥3.9tJP¥400.6bJP¥165.6b19.6x23.4x9.7x
Wed, 21 Aug 2024JP¥3.8tJP¥402.8bJP¥165.4b20.2x22.7x9.3x
Fri, 19 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20.3x21.9x9x
Sun, 16 Jun 2024JP¥3.6tJP¥408.8bJP¥169.9b19.8x21x8.7x
Tue, 14 May 2024JP¥3.7tJP¥399.3bJP¥167.1b20.8x22.4x9.4x
Thu, 11 Apr 2024JP¥3.7tJP¥390.9bJP¥163.5b20.8x22.7x9.5x
Sat, 09 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b19.7x21.8x9.1x
Mon, 05 Feb 2024JP¥3.8tJP¥392.5bJP¥165.0b20.7x23.1x9.7x
Wed, 03 Jan 2024JP¥3.9tJP¥393.5bJP¥165.2b21x23.4x9.8x
Fri, 01 Dec 2023JP¥4.0tJP¥395.1bJP¥167.7b22.4x23.6x10x
Sun, 29 Oct 2023JP¥4.2tJP¥424.1bJP¥181.1b21.5x23.3x9.9x
Tue, 26 Sep 2023JP¥4.2tJP¥424.8bJP¥184.9b21.4x22.9x10x
Thu, 24 Aug 2023JP¥4.2tJP¥428.0bJP¥184.9b21.7x22.7x9.8x
Sat, 22 Jul 2023JP¥4.2tJP¥427.4bJP¥192.9b20.8x21.8x9.8x
Mon, 19 Jun 2023JP¥4.0tJP¥423.9bJP¥187.8b20.4x21.4x9.5x
Price to Earnings Ratio

21.4x


Total Market Cap: JP¥4.0tTotal Earnings: JP¥187.8bTotal Revenue: JP¥423.9bTotal 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
  • The earnings for companies in the Office REITs industry have grown 2.7% per year over the last three years.
  • Revenues for these companies have grown 2.1% 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-3.75%
Real Estate1.70%
REITS-0.012%
Office REITs0.95%
Industrial REITs0.61%
Residential REITs0.46%
Healthcare REITs0.19%
Diversified REITs-0.012%
Retail REITs-0.07%
Hotel and Resort REITs-0.43%
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¥122.60k2.4%
+JP¥25.6b		-7.7%PB1.5x
8952 Japan Real Estate InvestmentJP¥113.90k2.0%
+JP¥16.0b		-4.5%PB1.5x
8975 Ichigo Office REIT InvestmentJP¥91.60k9.4%
+JP¥12.1b		2.9%PB1.3x
8954 ORIX JREITJP¥94.20k2.2%
+JP¥11.0b		1.0%PB1.5x
8955 Japan Prime Realty InvestmentJP¥93.70k2.2%
+JP¥8.1b		2.3%PB1.3x

Latest News

8952
JP¥113,900.00
Japan Real Estate Investment
7D
2.0%
1Y
-4.5%
8951
JP¥122,600.00
Nippon Building Fund
7D
2.4%
1Y
-7.7%
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.
8955
JP¥93,700.00
Japan Prime Realty Investment
7D
2.2%
1Y
2.3%
8958
JP¥107,900.00
Global One Real Estate Investment
7D
-0.6%
1Y
-17.8%
8957
JP¥180,100.00
Tokyu REIT
7D
2.0%
1Y
-5.2%
8954
JP¥94,200.00
ORIX JREIT
7D
2.2%
1Y
1.0%
8976
JP¥317,500.00
Daiwa Office Investment
7D
1.6%
1Y
1.9%
2972
JP¥114,000.00
SANKEI REAL ESTATE
7D
-1.2%
1Y
28.2%
3234
JP¥126,800.00
Mori Hills REIT Investment
7D
1.4%
1Y
-4.5%
8975
JP¥91,600.00
Ichigo Office REIT Investment
7D
9.4%
1Y
2.9%