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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies13
  • 7D1.8%
  • 3M-4.8%
  • 1Y12.7%
  • YTDn/a

Over the last 7 days, the Office REITs industry has risen 2.6%, driven by gains from Nippon Building Fund of 2.0%. In the last 12 months, the industry was up 11%. Looking forward, earnings are forecast to decline by 1.8% per year.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026JP¥4.6tJP¥448.6bJP¥205.7b21.4x22.3x10.2x
Sat, 07 Mar 2026JP¥4.7tJP¥446.1bJP¥205.2b22.2x23.1x10.6x
Mon, 02 Feb 2026JP¥4.6tJP¥425.9bJP¥194.6b23x23.5x10.7x
Wed, 31 Dec 2025JP¥4.6tJP¥425.1bJP¥194.3b22.4x23.7x10.8x
Fri, 28 Nov 2025JP¥4.8tJP¥417.0bJP¥190.9b23.8x25x11.4x
Sun, 26 Oct 2025JP¥4.5tJP¥417.1bJP¥190.1b22.8x23.8x10.8x
Tue, 23 Sep 2025JP¥4.3tJP¥396.5bJP¥178.9b23.8x24.1x10.9x
Thu, 21 Aug 2025JP¥4.4tJP¥396.7bJP¥178.3b24.1x24.6x11.1x
Sat, 19 Jul 2025JP¥4.1tJP¥391.9bJP¥174.7b23.1x23.2x10.4x
Mon, 16 Jun 2025JP¥4.0tJP¥389.7bJP¥172.9b22.5x23.1x10.2x
Wed, 14 May 2025JP¥3.8tJP¥390.8bJP¥172.4b21.5x22.3x9.8x
Fri, 11 Apr 2025JP¥3.8tJP¥385.0bJP¥165.9b21.5x23x9.9x
Sun, 09 Mar 2025JP¥3.6tJP¥393.1bJP¥173.2b20.1x20.9x9.2x
Tue, 04 Feb 2025JP¥3.6tJP¥394.2bJP¥171.2b20.5x21.3x9.2x
Thu, 02 Jan 2025JP¥3.6tJP¥392.7bJP¥170.2b18.8x20.9x9.1x
Sat, 30 Nov 2024JP¥3.6tJP¥391.3bJP¥170.7b19x21.3x9.3x
Mon, 28 Oct 2024JP¥3.7tJP¥398.9bJP¥173.3b19x21.6x9.4x
Wed, 25 Sep 2024JP¥3.9tJP¥400.6bJP¥165.6b19.6x23.3x9.6x
Fri, 23 Aug 2024JP¥3.8tJP¥400.5bJP¥165.7b19.8x22.7x9.4x
Sun, 21 Jul 2024JP¥3.6tJP¥404.7bJP¥166.6b20.1x21.7x8.9x
Tue, 18 Jun 2024JP¥3.6tJP¥404.5bJP¥166.8b19.9x21.4x8.8x
Thu, 16 May 2024JP¥3.7tJP¥399.3bJP¥167.1b20.8x22.3x9.3x
Sat, 13 Apr 2024JP¥3.7tJP¥390.9bJP¥163.5b20.5x22.6x9.4x
Mon, 11 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b19.7x21.8x9.1x
Wed, 07 Feb 2024JP¥3.8tJP¥392.5bJP¥165.0b20.5x22.9x9.6x
Fri, 05 Jan 2024JP¥3.8tJP¥392.6bJP¥165.2b20.9x23.2x9.8x
Sun, 03 Dec 2023JP¥3.9tJP¥395.1bJP¥167.7b21.8x23x9.8x
Tue, 31 Oct 2023JP¥4.1tJP¥424.1bJP¥181.1b21.1x22.7x9.7x
Thu, 28 Sep 2023JP¥4.3tJP¥424.8bJP¥184.9b21.6x23x10x
Sat, 26 Aug 2023JP¥4.2tJP¥428.0bJP¥184.9b21.9x22.9x9.9x
Mon, 24 Jul 2023JP¥4.2tJP¥426.2bJP¥190.9b21.3x22x9.9x
Wed, 21 Jun 2023JP¥4.0tJP¥423.9bJP¥187.8b20.5x21.3x9.4x
Fri, 19 May 2023JP¥3.9tJP¥417.8bJP¥184.2b20.3x21.3x9.4x
Sun, 16 Apr 2023JP¥4.2tJP¥427.0bJP¥190.5b21.2x21.9x9.8x
Price to Earnings Ratio

21.9x


Total Market Cap: JP¥4.2tTotal Earnings: JP¥190.5bTotal Revenue: JP¥427.0bTotal 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 2.6% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does Japanese Office REITs compare with similar industries?

JP Market2.99%
Real Estate3.67%
REITS2.65%
Office REITs1.82%
Hotel and Resort REITs3.54%
Retail REITs3.31%
Diversified REITs2.65%
Industrial REITs2.32%
Residential REITs1.74%
Healthcare REITs1.69%
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¥138.50k2.0%
+JP¥23.8b		7.0%PB1.7x
8954 ORIX JREITJP¥101.10k2.3%
+JP¥12.7b		13.0%PB1.6x
8976 Daiwa Office InvestmentJP¥344.00k3.0%
+JP¥9.3b		17.8%PB1.3x
8955 Japan Prime Realty InvestmentJP¥101.10k2.2%
+JP¥8.9b		17.9%PB1.4x
8958 Global One Real Estate InvestmentJP¥127.70k5.8%
+JP¥6.8b		10.1%PB1.2x

Latest News

8958
JP¥127,700.00
Global One Real Estate Investment
7D
5.8%
1Y
10.1%
8951
JP¥138,500.00
Nippon Building Fund
7D
2.0%
1Y
7.0%
8952
JP¥122,800.00
Japan Real Estate Investment
7D
-0.6%
1Y
15.0%

8952: New Acquisitions And Dividend Outlook Will Support Future Returns

The updated analyst price target for Japan Real Estate Investment now stands at ¥137,344, up from ¥134,900. Analysts cite slightly lower discount rate assumptions and a marginally higher future P/E estimate as key drivers of this adjustment.
3234
JP¥138,500.00
Mori Hills REIT Investment
7D
2.7%
1Y
6.0%
8987
JP¥147,900.00
Japan Excellent
7D
2.1%
1Y
18.5%
8957
JP¥203,400.00
Tokyu REIT
7D
2.6%
1Y
19.4%
8954
JP¥101,100.00
ORIX JREIT
7D
2.3%
1Y
13.0%
8955
JP¥101,100.00
Japan Prime Realty Investment
7D
2.2%
1Y
17.9%
8976
JP¥344,000.00
Daiwa Office Investment
7D
3.0%
1Y
17.8%