Nippon Building Fund (TSE:8951) - Stock Price, News & Analysis

8951 Stock Overview

NBF (Nippon Building Fund Inc.) is Japan's largest real estate investment trust (J-REIT) which invests in office buildings primarily in Tokyo as well as nationwide.

About the company

8951 fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	2/6
Financial Health	1/6
Dividends	4/6

Rewards

Risk Analysis

Earnings are forecast to decline by an average of 1.2% per year for the next 3 years

Debt is not well covered by operating cash flow

Dividend of 4.08% is not well covered by earnings

Nippon Building Fund Inc. Competitors

Japan Real Estate Investment

TSE:8952

JP¥762.7b

ORIX JREIT

TSE:8954

JP¥459.5b

Japan Prime Realty Investment

TSE:8955

JP¥341.0b

Mori Hills REIT Investment

TSE:3234

JP¥263.3b

Price History & Performance

Summary of all time highs, changes and price drops for Nippon Building Fund
Historical stock prices
Current Share Price	JP¥601,000.00
52 Week High	JP¥632,000.00
52 Week Low	JP¥539,000.00
Beta	0.33
1 Month Change	0.33%
3 Month Change	1.18%
1 Year Change	7.32%
3 Year Change	-16.30%
5 Year Change	-16.53%
Change since IPO	95.13%

Recent updates

Shareholder Returns

	8951	JP Office REITs	JP Market
7D	0%	-0.4%	2.5%
1Y	7.3%	0.4%	29.1%

Return vs Industry: 8951 exceeded the JP Office REITs industry which returned 0.4% over the past year.

Return vs Market: 8951 underperformed the JP Market which returned 29.1% over the past year.

Price Volatility

Is 8951's price volatile compared to industry and market?
8951 volatility
8951 Average Weekly Movement	2.5%
Office REITs Industry Average Movement	2.3%
Market Average Movement	4.2%
10% most volatile stocks in JP Market	8.1%
10% least volatile stocks in JP Market	2.3%

Stable Share Price: 8951 has not had significant price volatility in the past 3 months.

Volatility Over Time: 8951's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2001	n/a	Eiichiro Onozawa	www.nbf-m.com/nbf/

NBF (Nippon Building Fund Inc.) is Japan's largest real estate investment trust (J-REIT) which invests in office buildings primarily in Tokyo as well as nationwide. its objective is to source the solid growth of the stable revenues from its assets through exploitation of Mitsui Fudossan's know-how.

Nippon Building Fund Inc. Fundamentals Summary

How do Nippon Building Fund's earnings and revenue compare to its market cap?
8951 fundamental statistics
Market cap	JP¥1.03t
Earnings (TTM)	JP¥38.85b
Revenue (TTM)	JP¥94.34b

26.3x

P/E Ratio

10.8x

P/S Ratio

Is 8951 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
8951 income statement (TTM)
Revenue	JP¥94.34b
Cost of Revenue	JP¥44.33b
Gross Profit	JP¥50.01b
Other Expenses	JP¥11.16b
Earnings	JP¥38.85b

Last Reported Earnings

Dec 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	22.84k
Gross Margin	53.01%
Net Profit Margin	41.18%
Debt/Equity Ratio	83.9%

How did 8951 perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

154%

Payout Ratio

Does 8951 pay a reliable dividends?

See 8951 dividend history and benchmarks

When do you need to buy 8951 by to receive an upcoming dividend?
Nippon Building Fund dividend dates
Ex Dividend Date	Jun 27 2024
Dividend Pay Date	Sep 17 2024
Days until Ex dividend	57 days
Days until Dividend pay date	139 days

Does 8951 pay a reliable dividends?

See 8951 dividend history and benchmarks

8951 Stock Overview

Rewards

Risk Analysis

Nippon Building Fund Inc. Competitors

TSE:8952

JP¥762.7b

TSE:8954

JP¥459.5b

TSE:8955

JP¥341.0b

TSE:3234

JP¥263.3b

Price History & Performance

Recent News & Updates

New major risk - Revenue and earnings growth

Nippon Building Fund Inc Announces Eiichiro Onozawa Resigns as Substitute Executive Director, As of March 31, 2024

Nippon Building Fund Inc. Announces the Retirement of Tetsuya Saito as Full-Time Director, Effective as of March 31, 2024

First half dividend of JP¥12,500 announced

Nippon Building Fund Inc. to Report Fiscal Year 2023 Results on Feb 15, 2024

Nippon Building Fund Inc. Revises Earnings Guidance for the Fiscal Periods Ending June 30, 2024

Recent updates

New major risk - Revenue and earnings growth

Nippon Building Fund Inc Announces Eiichiro Onozawa Resigns as Substitute Executive Director, As of March 31, 2024

Nippon Building Fund Inc. Announces the Retirement of Tetsuya Saito as Full-Time Director, Effective as of March 31, 2024

First half dividend of JP¥12,500 announced

Nippon Building Fund Inc. to Report Fiscal Year 2023 Results on Feb 15, 2024

Nippon Building Fund Inc. Revises Earnings Guidance for the Fiscal Periods Ending June 30, 2024

Upcoming dividend of JP¥11,500 per share at 3.8% yield

Nippon Building Fund Incorporation (TSE:8951) agreed to acquire Yodoyabashi Flex Tower from Global One Real Estate Investment Corp. (TSE:8958) for ¥9.8 billion.

Nippon Building Fund Incorporation (TSE:8951) acquired additional 2.6% stake in Nishi-Shinjuku Mitsui Building on ¥120 million.

New major risk - Dividend sustainability

Full year 2023 earnings released: EPS: JP¥23,294 (vs JP¥28,170 in FY 2022)

Nippon Building Fund Incorporation to Report First Half, 2023 Results on Aug 15, 2023

Upcoming dividend of JP¥11,500 per share at 4.1% yield

No independent directors

First half 2023 earnings released: EPS: JP¥11,927 (vs JP¥13,148 in 1H 2022)

Nippon Building Fund Incorporation Provides Distribution Guidance for Period Ending December 31, 2022

Nippon Building Fund Incorporation to Report Second Half, 2022 Results on Feb 15, 2023

Upcoming dividend of JP¥11,500 per share

No independent directors

SMFL MIRAI Partners Company, Limited agreed to acquire 50% stake in Shin-Kawasaki Mitsui Building from Nippon Building Fund Incorporation (TSE:8951) for ¥24 billion.

Full year 2022 earnings released: EPS: JP¥28,129 (vs JP¥24,561 in FY 2021)

Nippon Building Fund Incorporation to Report First Half, 2022 Results on Aug 15, 2022

Upcoming dividend of JP¥13,000 per share

No independent directors

Nippon Building Fund Incorporation Announces Retirement of Yoshiyuki Tanabe as Director, Effective March 31, 2022

First half 2022 earnings: Revenues and EPS in line with analyst expectations

Nippon Building Fund Incorporation Provides Distribution Guidance for Period Ending June 30, 2021

Nippon Building Fund Incorporation Provides Earnings Guidance for the Period Ending June 30,2022 and December 31, 2022

Nippon Building Fund Incorporation to Report Fiscal Year 2021 Results on Feb 15, 2022

An unknown buyer agreed to acquire NBF Niigata Telecom Building from Nippon Building Fund Incorporation (TSE:8951) for approximately 4000.

Upcoming dividend of JP¥11,500 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Nippon Building Fund Incorporation (TSE:8951) acquired additional 15% stake in Yokohama ST Building from Toda Corporation (TSE:1860) for ¥3.2 billion.

An unknown buyer agreed to acquire Nakanosakaue Sunbright Twin, Sun Mullion NBF Tower and NBF Unix Bldg from Nippon Building Fund Incorporation (TSE:8951) for ¥59.3 billion.

Nippon Building Fund Incorporation (TSE:8951) signed an contract to acquire Iidabashi Grand Bloom from Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥77.6 billion.

Upcoming dividend of JP¥11,350 per share

First half 2021 earnings released: EPS JP¥11,524 (vs JP¥11,011 in 1H 2020)

First half 2021 earnings released: EPS JP¥11,524 (vs JP¥11,011 in 1H 2020)

New 90-day high: JP¥633,000

Nippon Building Fund Incorporation, Annual General Meeting, Mar 09, 2021

New 90-day high: JP¥604,000

Nippon Building Fund Incorporation and Nippon Building Fund Management Ltd. to Lease Shinjuku Mitsui Building to Mitsui Fudosan Co., Ltd

Nippon Building Fund Incorporation (TSE:8951) agreed to acquire additional 8.62% stake in NBF Ogawamachi Building from multiple individuals for ¥480 million.

Nippon Building Fund Incorporation (TSE:8951) agreed to acquire Shinjuku Mitsui Building and Gran Tokyo South Tower from Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥220 billion.

Nippon Building Fund Incorporation (TSE:8951) entered into agreement to acquire Osaki Bright Tower and two other properties from Mitsui Fudosan Co., Ltd. (TSE:8801) for ¥40.22 billion.

Tosei Corporation (TSE:8923) signed a contract to acquire NBF Shinkawa Building from Nippon Building Fund Incorporation (TSE:8951) for ¥11.9 billion.

Shareholder Returns

Price Volatility

About the Company

Nippon Building Fund Inc. Fundamentals Summary

26.3x

10.8x

Earnings & Revenue

Dividends

4.1%

154%