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Tokyu REIT TSE:8957 Stock Report

Last Price


Market Cap







19 Jun, 2022


Company Financials
8957 fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance4/6
Financial Health3/6

8957 Stock Overview

TOKYU REIT, Inc. was incorporated to invest in real estate on June 20, 2003 under the Law Concerning Investment Trusts and Investment Corporations of Japan (Law No.

Tokyu REIT Competitors













Price History & Performance

Summary of all time highs, changes and price drops for Tokyu REIT
Historical stock prices
Current Share PriceJP¥184,500.00
52 Week HighJP¥209,700.00
52 Week LowJP¥171,800.00
1 Month Change-1.23%
3 Month Change0%
1 Year Change-5.24%
3 Year Change-0.32%
5 Year Change34.08%
Change since IPO76.72%

Recent News & Updates

Shareholder Returns

8957JP REITsJP Market

Return vs Industry: 8957 exceeded the JP REITs industry which returned -8.8% over the past year.

Return vs Market: 8957 exceeded the JP Market which returned -7.2% over the past year.

Price Volatility

Is 8957's price volatile compared to industry and market?
8957 volatility
8957 Average Weekly Movement2.4%
REITs Industry Average Movement2.5%
Market Average Movement4.1%
10% most volatile stocks in JP Market8.4%
10% least volatile stocks in JP Market2.3%

Stable Share Price: 8957 is less volatile than 75% of JP stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: 8957's weekly volatility (2%) has been stable over the past year.

About the Company

2003n/aKazuyoshi Kashiwazaki

TOKYU REIT, Inc. was incorporated to invest in real estate on June 20, 2003 under the Law Concerning Investment Trusts and Investment Corporations of Japan (Law No. 198 of 1952, as amended), or the Investment Trust Law. Such corporations are commonly referred to as Japanese Real Estate Investment Trusts, or J-REITs.

Tokyu REIT Fundamentals Summary

How do Tokyu REIT's earnings and revenue compare to its market cap?
8957 fundamental statistics
Market CapJP¥180.37b
Earnings (TTM)JP¥10.61b
Revenue (TTM)JP¥15.00b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
8957 income statement (TTM)
Cost of RevenueJP¥7.83b
Gross ProfitJP¥7.17b
Other Expenses-JP¥3.44b

Last Reported Earnings

Jan 31, 2022

Next Earnings Date


Earnings per share (EPS)10.85k
Gross Margin47.80%
Net Profit Margin70.73%
Debt/Equity Ratio79.3%

How did 8957 perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio

Does 8957 pay a reliable dividends?

See 8957 dividend history and benchmarks
When do you need to buy 8957 by to receive an upcoming dividend?
Tokyu REIT dividend dates
Ex Dividend DateJul 28 2022
Dividend Pay DateOct 17 2022
Days until Ex dividend38 days
Days until Dividend pay date119 days

Does 8957 pay a reliable dividends?

See 8957 dividend history and benchmarks
We’ve recently updated our valuation analysis.


Is 8957 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 8957?

Other financial metrics that can be useful for relative valuation.

8957 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue17.9x
Enterprise Value/EBITDA30.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 8957's PE Ratio compare to its peers?

8957 PE Ratio vs Peers
The above table shows the PE ratio for 8957 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.3x

Price-To-Earnings vs Peers: 8957 is good value based on its Price-To-Earnings Ratio (17x) compared to the peer average (21.3x).

Price to Earnings Ratio vs Industry

How does 8957's PE Ratio compare vs other companies in the Japanese REITs Industry?

Price-To-Earnings vs Industry: 8957 is good value based on its Price-To-Earnings Ratio (17x) compared to the JP REITs industry average (25.4x)

Price to Earnings Ratio vs Fair Ratio

What is 8957's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

8957 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 8957's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of 8957 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 8957 (¥184500) is trading below our estimate of fair value (¥214048.2)

Significantly Below Fair Value: 8957 is trading below fair value, but not by a significant amount.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 8957's PEG Ratio to determine if it is good value.

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Future Growth

How is Tokyu REIT forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score


Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tokyu REIT has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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  • Examine whether Tokyu REIT is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Tokyu REIT performed over the past 5 years?

Past Performance Score


Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 8957 has a large one-off gain of ¥4.7B impacting its January 31 2022 financial results.

Growing Profit Margin: 8957's current net profit margins (70.7%) are higher than last year (47.4%).

Past Earnings Growth Analysis

Earnings Trend: 8957's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: 8957's earnings growth over the past year (29.9%) exceeds its 5-year average (13.5% per year).

Earnings vs Industry: 8957 earnings growth over the past year (29.9%) exceeded the REITs industry 5.1%.

Return on Equity

High ROE: 8957's Return on Equity (8.9%) is considered low.

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Financial Health

How is Tokyu REIT's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 8957's short term assets (¥7.8B) do not cover its short term liabilities (¥18.8B).

Long Term Liabilities: 8957's short term assets (¥7.8B) do not cover its long term liabilities (¥89.0B).

Debt to Equity History and Analysis

Debt Level: 8957's net debt to equity ratio (74.7%) is considered high.

Reducing Debt: 8957's debt to equity ratio has reduced from 82.1% to 79.3% over the past 5 years.

Debt Coverage: 8957's debt is well covered by operating cash flow (47.9%).

Interest Coverage: 8957's interest payments on its debt are well covered by EBIT (8.3x coverage).

Balance Sheet

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What is Tokyu REIT current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Upcoming Dividend Payment

TodayJun 20 2022Ex Dividend DateJul 28 2022Dividend Pay DateOct 17 202281 days from Ex DividendBuy in the next 38 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: 8957's dividend (4.26%) is higher than the bottom 25% of dividend payers in the JP market (1.71%).

High Dividend: 8957's dividend (4.26%) is in the top 25% of dividend payers in the JP market (3.76%)

Stability and Growth of Payments

Stable Dividend: 8957's dividends per share have been stable in the past 10 years.

Growing Dividend: 8957's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: At its current payout ratio (91.3%), 8957's payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (29.9%), 8957's dividend payments are well covered by cash flows.

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How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Kazuyoshi Kashiwazaki (59 yo)



Mr. Kazuyoshi Kashiwazaki is Representative Director, CEO and President of Tokyu REIT, Inc. since May 1,2015. • April 1985 - Entered Tokyu Corporation (The “Corporation”), Railway Operation Division, Rail...

Leadership Team

Experienced Management: 8957's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.

Board Members

Experienced Board: 8957's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Tokyu REIT, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Tokyu REIT, Inc.
  • Ticker: 8957
  • Exchange: TSE
  • Founded: 2003
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: JP¥180.367b
  • Shares outstanding: 977.60k
  • Website:


  • Tokyu REIT, Inc.
  • 1-12-1 Dogenzaka
  • Shibuya-ku
  • Tokyo
  • 150-0043
  • Japan


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/19 00:00
End of Day Share Price2022/06/17 00:00
Annual Earnings2022/01/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.