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Japanese (NIKKEI) Office REITs Industry Analysis

UpdatedJul 10, 2025
DataAggregated Company Financials
Companies11
  • 7D-1.2%
  • 3M3.7%
  • 1Y14.6%
  • YTDn/a

In the last week, the Office REITs industry is flat overall, with Nippon Building Fund standing out by going down 3.0%. The past year has been better, since the industry has gained 15% in that time. As for the next few years, earnings are forecast to decline by 3.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 10 Jul 2025JP¥4.0tJP¥391.9bJP¥174.7b22.6x22.7x10.1x
Sat, 07 Jun 2025JP¥4.0tJP¥389.7bJP¥172.9b22.3x22.9x10.2x
Mon, 05 May 2025JP¥3.9tJP¥390.8bJP¥172.4b21.9x22.7x10x
Wed, 02 Apr 2025JP¥3.8tJP¥359.5bJP¥158.5b21x23.7x10.5x
Fri, 28 Feb 2025JP¥3.8tJP¥393.1bJP¥173.2b20.9x21.7x9.6x
Sun, 26 Jan 2025JP¥3.6tJP¥394.2bJP¥171.2b19.7x20.9x9.1x
Tue, 24 Dec 2024JP¥3.6tJP¥392.7bJP¥170.2b18.7x21x9.1x
Thu, 21 Nov 2024JP¥3.7tJP¥391.3bJP¥170.7b19.3x21.7x9.5x
Sat, 19 Oct 2024JP¥3.8tJP¥398.4bJP¥169.7b19.4x22.2x9.5x
Mon, 16 Sep 2024JP¥3.9tJP¥400.5bJP¥165.7b20x23.6x9.8x
Wed, 14 Aug 2024JP¥3.7tJP¥403.4bJP¥166.0b19.6x22.1x9.1x
Fri, 12 Jul 2024JP¥3.5tJP¥404.7bJP¥166.6b20x21.3x8.8x
Sun, 09 Jun 2024JP¥3.6tJP¥408.8bJP¥169.9b19.8x21.1x8.8x
Tue, 07 May 2024JP¥3.8tJP¥399.3bJP¥167.1b20.8x22.6x9.5x
Thu, 04 Apr 2024JP¥3.7tJP¥390.9bJP¥163.5b20.5x22.4x9.4x
Sat, 02 Mar 2024JP¥3.6tJP¥391.3bJP¥163.1b20.2x22.2x9.2x
Mon, 29 Jan 2024JP¥3.8tJP¥392.4bJP¥164.9b21.2x23.1x9.7x
Wed, 27 Dec 2023JP¥3.8tJP¥393.8bJP¥164.2b21.3x23.3x9.7x
Fri, 24 Nov 2023JP¥3.9tJP¥395.1bJP¥167.7b21.5x23.1x9.8x
Sun, 22 Oct 2023JP¥4.1tJP¥424.5bJP¥184.9b21.3x22.3x9.7x
Tue, 19 Sep 2023JP¥4.3tJP¥424.8bJP¥184.9b21.9x23.1x10x
Thu, 17 Aug 2023JP¥4.2tJP¥428.6bJP¥191.8b21.6x22x9.9x
Sat, 15 Jul 2023JP¥4.1tJP¥427.4bJP¥192.9b20.7x21.5x9.7x
Mon, 12 Jun 2023JP¥4.0tJP¥418.8bJP¥184.4b20.6x21.7x9.6x
Wed, 10 May 2023JP¥4.0tJP¥416.7bJP¥184.1b20.4x21.6x9.5x
Fri, 07 Apr 2023JP¥4.2tJP¥432.2bJP¥195.6b20.8x21.4x9.7x
Sun, 05 Mar 2023JP¥4.3tJP¥430.6bJP¥194.7b21.1x22.1x10x
Tue, 31 Jan 2023JP¥4.3tJP¥432.4bJP¥196.8b20.9x21.9x10x
Thu, 29 Dec 2022JP¥4.4tJP¥432.3bJP¥196.9b21.8x22.4x10.2x
Sat, 26 Nov 2022JP¥4.5tJP¥431.1bJP¥196.5b22.3x23.1x10.5x
Mon, 24 Oct 2022JP¥4.4tJP¥429.7bJP¥195.4b21.5x22.3x10.1x
Wed, 21 Sep 2022JP¥4.8tJP¥429.2bJP¥194.9b23.5x24.4x11.1x
Fri, 19 Aug 2022JP¥4.7tJP¥428.6bJP¥193.9b23.1x24.5x11.1x
Sun, 17 Jul 2022JP¥4.6tJP¥420.3bJP¥188.8b22.6x24.4x11x
Price to Earnings Ratio

24.4x


Total Market Cap: JP¥4.6tTotal Earnings: JP¥188.8bTotal Revenue: JP¥420.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Office REITs Industry Price to Earnings3Y Average 22.4x202320242025
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 22.4x.
  • The industry is trading close to its 3-year average PS ratio of 9.8x.
Past Earnings Growth
  • The earnings for companies in the Office REITs industry have declined 2.5% per year over the last three years,
  • Revenues have also declined 2.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Japanese Office REITs compare with similar industries?

JP Market0.12%
Real Estate-0.43%
REITS-0.017%
Office REITs-1.22%
Hotel and Resort REITs1.97%
Residential REITs0.84%
Retail REITs0.31%
Diversified REITs-0.017%
Industrial REITs-0.80%
Healthcare REITs-0.95%
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
8958 Global One Real Estate InvestmentJP¥139.40k3.3%
+JP¥4.4b		38.2%PB1.3x
8955 Japan Prime Realty InvestmentJP¥95.10k1.2%
+JP¥4.3b		17.4%PB1.4x
8954 ORIX JREITJP¥191.60k0.4%
+JP¥1.9b		22.4%PB1.5x
8975 Ichigo Office REIT InvestmentJP¥92.10k1.2%
+JP¥1.7b		12.7%PB1.3x
8976 Daiwa Office InvestmentJP¥322.50k0.5%
+JP¥1.4b		12.6%PB1.2x

Latest News

8951
JP¥130,300.00
Nippon Building Fund
7D
-1.6%
1Y
15.3%
8975
JP¥92,100.00
Ichigo Office REIT Investment
7D
1.2%
1Y
12.7%
8958
JP¥139,400.00
Global One Real Estate Investment
7D
3.3%
1Y
38.2%
3234
JP¥134,400.00
Mori Hills REIT Investment
7D
-0.1%
1Y
2.5%
8955
JP¥95,100.00
Japan Prime Realty Investment
7D
1.2%
1Y
17.4%
2972
JP¥91,500.00
SANKEI REAL ESTATE
7D
-0.7%
1Y
8.7%
8954
JP¥191,600.00
ORIX JREIT
7D
0.4%
1Y
22.4%
8987
JP¥133,400.00
Japan Excellent
7D
-1.1%
1Y
11.6%
8952
JP¥116,600.00
Japan Real Estate Investment
7D
-0.6%
1Y
14.5%
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Rising Rates Will Depress Office Values In Tokyo

Reliance on low interest rates, strong occupancy, and premium rents faces risk from demographic decline, office oversupply, and potential rate normalization in Japan.
3290
JP¥256,600.00
One REIT
7D
-0.08%
1Y
1.5%
8976
JP¥322,500.00
Daiwa Office Investment
7D
0.5%
1Y
12.6%