TSE:8818Real Estate
Keihanshin Building (TSE:8818) Margin Surge Driven by ¥1.9B One-Off Gain Challenges Core Growth Narrative
Keihanshin Building (TSE:8818) posted a net profit margin of 24.6% for the period ending September 30, 2025, significantly higher than last year’s 17.5%. Full-year earnings jumped 46.9%, marking a sharp turnaround from the negative 11.1% average decline over the previous five years, bolstered by a one-off gain of ¥1.9 billion. Despite this headline growth, shares are trading at ¥1,733, which is well above the estimated fair value of ¥560.96. The company’s price-to-earnings ratio of 17.1x...