Reported Earnings • May 26
First half 2026 earnings released: EPS: JP¥2,878 (vs JP¥2,996 in 1H 2025) First half 2026 results: EPS: JP¥2,878 (down from JP¥2,996 in 1H 2025). Revenue: JP¥15.0b (down 1.3% from 1H 2025). Net income: JP¥6.87b (down 4.8% from 1H 2025). Profit margin: 46% (down from 48% in 1H 2025). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 1.2% p.a. on average during the next 2 years, while revenues in the Residential REITs industry in Asia are expected to grow by 6.3%. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 22
Daiwa Securities Living Investment Corporation announces Semi-Annual dividend, payable on December 15, 2026 Daiwa Securities Living Investment Corporation announced Semi-Annual dividend of JPY 2510.0000 per share payable on December 15, 2026, ex-date on September 29, 2026 and record date on September 30, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥2,600 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 16 June 2026. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.8%). Announcement • Mar 03
Daiwa Securities Living Investment Corporation to Report Fiscal Year 2026 Results on May 21, 2026 Daiwa Securities Living Investment Corporation announced that they will report fiscal year 2026 results at 9:00 AM, Tokyo Standard Time on May 21, 2026 Announcement • Jan 23
Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Gran Casa Sumiyoshi II for ¥1.4 billion. Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Gran Casa Sumiyoshi II for ¥1.4 billion on January 22, 2026. A cash consideration of ¥1.44 billion will be paid by Daiwa Securities Living Investment Corporation. As part of consideration, ¥1.44 billion is paid towards assets of Gran Casa Sumiyoshi II. The transaction will be financed through cash on hand of ¥1.44 billion.
The expected completion of the transaction is March 31, 2026. Declared Dividend • Jan 10
Final dividend of JP¥2,600 announced Shareholders will receive a dividend of JP¥2,600. Ex-date: 30th March 2026 Payment date: 16th June 2026 Dividend yield will be 4.6%, which is higher than the industry average of 3.9%. Announcement • Jan 09
Daiwa Securities Living Investment Corporation announces Semi-Annual dividend, payable on June 16, 2026 Daiwa Securities Living Investment Corporation announced Semi-Annual dividend of JPY 2600.0000 per share payable on June 16, 2026, ex-date on March 30, 2026 and record date on March 31, 2026. Price Target Changed • Dec 25
Price target increased by 8.4% to JP¥119,500 Up from JP¥110,250, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of JP¥114,900. Stock is up 30% over the past year. The company is forecast to post earnings per share of JP¥4,866 for next year compared to JP¥5,755 last year. Reported Earnings • Nov 25
Full year 2025 earnings released: EPS: JP¥5,755 (vs JP¥5,003 in FY 2024) Full year 2025 results: EPS: JP¥5,755 (up from JP¥5,003 in FY 2024). Revenue: JP¥29.9b (up 8.8% from FY 2024). Net income: JP¥13.8b (up 15% from FY 2024). Profit margin: 46% (up from 44% in FY 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Residential REITs industry in Asia are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Oct 24
Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Trust Beneficiary Interests of Season Flats Kamata West for ¥1.0 billion. Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Trust Beneficiary Interests of Season Flats Kamata West for ¥1.0 billion on October 23, 2025. Funds for Acquisition will use cash on hand. The name of the property will be changed to “Gran Casa Kamata West” on October 27, 2025.
The expected completion of the transaction is October 27, 2025. Announcement • Sep 17
Daiwa Securities Living Investment Corporation to Report First Half, 2026 Results on Nov 20, 2025 Daiwa Securities Living Investment Corporation announced that they will report first half, 2026 results on Nov 20, 2025 Declared Dividend • Jun 17
First half dividend of JP¥2,670 announced Shareholders will receive a dividend of JP¥2,670. Ex-date: 29th September 2025 Payment date: 16th December 2025 Dividend yield will be 5.6%, which is higher than the industry average of 3.9%. New Risk • May 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. Reported Earnings • May 28
First half 2025 earnings released: EPS: JP¥2,996 (vs JP¥2,425 in 1H 2024) First half 2025 results: EPS: JP¥2,996 (up from JP¥2,425 in 1H 2024). Revenue: JP¥15.2b (up 14% from 1H 2024). Net income: JP¥7.21b (up 24% from 1H 2024). Profit margin: 48% (up from 44% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Mar 21
An undisclosed buyer agreed to acquire willDo Taiko dori/willDo Temmacho from Daiwa Securities Living Investment Corporation (TSE:8986) for ¥2.2 million. An undisclosed buyer agreed to acquire willDo Taiko dori/willDo Temmacho from Daiwa Securities Living Investment Corporation (TSE:8986) for ¥2.2 million on March 19, 2025.
For the period ending December 31, 2024, willDo Taiko dori/willDo Temmacho reported total revenue of ¥68.1 million.
The expected completion of the transaction is April 8, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥2,600 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 16 June 2025. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (4.4%). Announcement • Mar 19
Daiwa Securities Living Investment Corporation Announces Executive Changes Daiwa Securities Living Investment Corporation Daiwa Securities Living Investment Corporation (the Investment Corporation) gives notice that Daiwa Real Estate Asset Management Co. Ltd. (the "Asset Manager"), to which the Investment Corporation entrusts the management of its assets, decided on the change of key employees at the board of directors' meeting held on March 19, 2025. Change of Key Employee Title: Head of DRP Investment Management Department, General Manager. Newly appointed (as of April 1, 2025): Shoichi Ichikawa. Former (as of March 31, 2025): Daisuke Tanaka. This change will be reported to relevant authorities pursuant to the Financial Instruments and Exchange Law, Building Lots and Buildings Transaction Business Law, and other applied laws and regulations. Announcement • Mar 14
Daiwa Securities Living Investment Corporation to Report Fiscal Year 2025 Results on May 22, 2025 Daiwa Securities Living Investment Corporation announced that they will report fiscal year 2025 results at 9:00 AM, Tokyo Standard Time on May 22, 2025 Declared Dividend • Jan 16
Final dividend of JP¥2,600 announced Shareholders will receive a dividend of JP¥2,600. Ex-date: 28th March 2025 Payment date: 16th June 2025 Dividend yield will be 5.7%, which is higher than the industry average of 3.9%. New Risk • Nov 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 2.0% per year for the foreseeable future. Reported Earnings • Nov 23
Full year 2024 earnings released: EPS: JP¥5,003 (vs JP¥4,579 in FY 2023) Full year 2024 results: EPS: JP¥5,003 (up from JP¥4,579 in FY 2023). Revenue: JP¥27.4b (up 11% from FY 2023). Net income: JP¥12.0b (up 16% from FY 2023). Profit margin: 44% (up from 42% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥2,400 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 16 December 2024. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.8%). Announcement • Sep 03
Daiwa Securities Living Investment Corporation to Report Q2, 2025 Results on Nov 20, 2024 Daiwa Securities Living Investment Corporation announced that they will report Q2, 2025 results on Nov 20, 2024 Buy Or Sell Opportunity • Jul 01
Now 78% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.4% to JP¥103,300. The fair value is estimated to be JP¥466,988, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 0.3% per annum. Earnings are also forecast to decline by 2.9% per annum over the same time period. Buy Or Sell Opportunity • Jun 25
Now 21% overvalued Over the last 90 days, the stock has fallen 2.5% to JP¥104,800. The fair value is estimated to be JP¥86,816, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings are also forecast to decline by 3.3% per annum over the same time period. New Risk • Jun 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Reported Earnings • May 24
First half 2024 earnings released: EPS: JP¥2,425 (vs JP¥2,137 in 1H 2023) First half 2024 results: EPS: JP¥2,425 (up from JP¥2,137 in 1H 2023). Revenue: JP¥13.3b (up 12% from 1H 2023). Net income: JP¥5.81b (up 20% from 1H 2023). Profit margin: 44% (up from 41% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥2,300 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 17 June 2024. Trailing yield: 4.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (3.8%). Announcement • Mar 03
Daiwa Securities Living Investment Corporation to Report Fiscal Year 2024 Results on May 22, 2024 Daiwa Securities Living Investment Corporation announced that they will report fiscal year 2024 results on May 22, 2024 Declared Dividend • Jan 27
Final dividend of JP¥2,300 announced Shareholders will receive a dividend of JP¥2,300. Ex-date: 28th March 2024 Payment date: 17th June 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.8%. New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.6% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (6.5% increase in shares outstanding). Reported Earnings • Nov 24
Full year 2023 earnings released Full year 2023 results: Revenue: JP¥24.7b (up 8.7% from FY 2022). Net income: JP¥10.4b (up 12% from FY 2022). Profit margin: 42% (up from 41% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Residential REITs industry in Asia. Announcement • Nov 24
Daiwa Securities Living Investment Corporation, Annual General Meeting, Dec 26, 2023 Daiwa Securities Living Investment Corporation, Annual General Meeting, Dec 26, 2023, at 10:00 Tokyo Standard Time. Location: 17th Floor, GranTokyo North Tower 1-9-1 Marunouchi, Chiyoda-ku Tokyo Japan Agenda: To consider Amendments to the Articles of Incorporation; to consider Appointment of One Executive Director; to consider Appointment of One Substitute Executive Director; to consider Appointment of Two Supervisory Directors; and to consider other issues. Announcement • Nov 03
Daiwa Securities Living Investment Corporation has completed a Follow-on Equity Offering in the amount of ¥14.12648 billion. Daiwa Securities Living Investment Corporation has completed a Follow-on Equity Offering in the amount of ¥14.12648 billion.
Security Name: Units
Security Type: Common Stock
Securities Offered: 139,047
Price\Range: ¥101595
Discount Per Security: ¥3283 New Risk • Oct 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.1% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥2,230 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 15 December 2023. Trailing yield: 3.8%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (3.6%). Announcement • Sep 20
Daiwa Securities Living Investment Corporation Announces Executive Changes Daiwa Securities Living Investment Corporation to which the Investment Corporation entrusts the management of its assets, decided on changes in responsibilities of director and key employees at the board of directors'meeting held September 19, 2023. Change in Responsibilities of Director (as of October 1, 2023) - Yukiko Takeuchi as Vice President and Representative Director and Head of Private Fund Management Division and Deputy General Manager of Corporate Division and Head of Sustainability Promotion Office from his former responsibilities of Vice President and Representative Director and Head of Private Fund Management Division and Deputy General Manager of Corporate Division and Head of Private Fund Management Dept. and Head of Sustainability Promotion Office. Taisuke Mazaki as Compliance Officer effective October 1, 2023 former employee Masaki Akimoto. Kazuya Iwashita as Head of Private Fund Management Dept. October 1, 2023. Taisuke Mazaki: Apr. 1992 - Joined Daiwa Securities Co. Ltd. (currently, Daiwa Securities Group Inc.).; Jun. 2005 - Fixed Income Sales Dept., Daiwa Securities SMBC Co. Ltd. (currently, Daiwa Securities Co. Ltd.); Apr. 2008 - FICC Sales Dept. (I); Oct. 2009 - FICC Bond Trading Dept.; Jun. 2011 - Debt Syndicate Dept., Daiwa Securities Capital Markets Co. Ltd. (currently, Daiwa Securities Co. Ltd.); Apr. 2016 - Compliance Department, Daiwa Securities Co. Ltd. and Compliance Department, Daiwa Securities Group Inc.; Apr. 2022 - On loan to Compliance Officer, Daiwa Securities Realty Co. Ltd. from Daiwa Securities Co. Ltd. (current position); Oct. 2023 - On loan to Compliance Officer and Head of Compliance & Risk Management Dept., Daiwa Real Estate Asset Management Co. Ltd. from Daiwa Securities Realty Co. Ltd. (scheduled). Kazuya Iwashita: Apr. 1993 Joined Toyo Trust and Banking Co. Ltd. (currently, Mitsubishi UFJ Trust and Banking Corporation); Dec. 2003 Joined GE Real Estate Co., Ltd.; Jan. 2016 Joined Mi-Casa Asset Management Inc. (current: Daiwa Real Estate Asset Management Co. Ltd.); Oct. 2018 Senior Manager, Finance Department, Daiwa Real Estate Asset Management Co. Ltd.; Jun. 2019 Deputy General Manager, Finance Department; May 2020 Deputy General Manager, Private Fund Management Department and Deputy General Manager, Finance Department; Oct. 2020 Deputy General Manager, Private Fund Management Department (current position); Oct. 2023 Head of Private Fund Management Dept. and General Manager of Sustainability Promotion Office (scheduled). New Risk • Jul 10
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.1% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (2.5% increase in shares outstanding). New Risk • Jun 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Board Change • Mar 28
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). CEO & President of Mi-Casa Asset Management Inc Yutaka Higashino is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Nov 23
Full year 2022 earnings released: EPS: JP¥4,207 (vs JP¥4,197 in FY 2021) Full year 2022 results: EPS: JP¥4,207 (up from JP¥4,197 in FY 2021). Revenue: JP¥22.7b (up 6.6% from FY 2021). Net income: JP¥9.27b (up 4.3% from FY 2021). Profit margin: 41% (in line with FY 2021). Net asset value (NAV) per share: JP¥74,932 (flat on FY 2021). The current share price is 57% higher than NAV per share. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). CEO & President of Mi-Casa Asset Management Inc Yutaka Higashino is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥2,180 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 15 December 2022. Trailing yield: 3.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (3.6%). Announcement • Sep 20
Daiwa Securities Living Investment Corporation to Report First Half, 2023 Results on Nov 21, 2022 Daiwa Securities Living Investment Corporation announced that they will report first half, 2023 results on Nov 21, 2022 Announcement • Sep 10
Daiwa Securities Living Investment Corporation Revises Earnings Guidance for the Fiscal Period Ending March 31, 2023 Daiwa Securities Living Investment Corporation revised earnings guidance for the fiscal period ending March 31, 2023. For the period, the company expects revised operating revenue of JPY 11,723 million, operating income of JPY 5,573 million, net income of JPY 4,816 million and net income per unit of JPY 2,130 compared to previously expected operating revenue of JPY 11,327 million, operating income of JPY 5,363 million, net income of JPY 4,653 million and net income per unit of JPY 2,110. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). CEO & President of Mi-Casa Asset Management Inc Yutaka Higashino is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥2,180 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 14 June 2022. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (3.7%). Price Target Changed • Dec 07
Price target increased to JP¥135,333 Up from JP¥126,000, the current price target is provided by 1 analyst. New target price is 20% above last closing price of JP¥112,900. Stock is up 22% over the past year. The company posted earnings per share of JP¥4,197 last year. Reported Earnings • Nov 19
Full year 2021 earnings released: EPS JP¥4,197 (vs JP¥5,082 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥21.3b (up 7.0% from FY 2020). Net income: JP¥8.89b (down 5.3% from FY 2020). Profit margin: 42% (down from 47% in FY 2020). The decrease in margin was driven by higher expenses. Net asset value (NAV) per share: JP¥73,793 (flat on FY 2020). The current share price is 52% higher than NAV per share. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥2,160 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 15 December 2021. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.0%). In line with average of industry peers (3.4%). Announcement • Aug 24
Daiwa Securities Living Investment Corporation (TSE:8986) concluded an agreement to acquire Kuramae Project for ¥1.6 billion. Daiwa Securities Living Investment Corporation (TSE:8986) concluded an agreement to acquire Kuramae Project for ¥1.6 billion on August 23, 2021. The transaction will be funded by own funds or loans. The transaction is expected to be completed by March 31, 2023. Tanizawa Sogo Appraisal Co., Ltd. acted as appraiser in the transaction. Reported Earnings • Jun 26
First half 2021 earnings released: EPS JP¥2,118 (vs JP¥1,987 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: JP¥10.5b (up 27% from 1H 2020). Net income: JP¥4.46b (up 37% from 1H 2020). Profit margin: 43% (up from 39% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Announcement • Jun 23
Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Gran Casa Itabashi East for approximately ¥ 960 million. Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Gran Casa Itabashi East for approximately ¥ 960 million on June 22, 2021. The deal will be financed from own funds. The deal will be completed on June 23, 2021. Price Target Changed • Jun 08
Price target increased to JP¥136,000 Up from JP¥121,667, the current price target is provided by 1 analyst. New target price is 14% above last closing price of JP¥119,600. Stock is up 22% over the past year. Price Target Changed • Jun 01
Price target increased to JP¥126,000 Up from JP¥115,333, the current price target is provided by 1 analyst. New target price is 13% above last closing price of JP¥111,900. Stock is up 13% over the past year. Reported Earnings • May 22
First half 2021 earnings released: EPS JP¥2,118 (vs JP¥1,987 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: JP¥10.5b (up 27% from 1H 2020). Net income: JP¥4.46b (up 37% from 1H 2020). Profit margin: 43% (up from 39% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Announcement • May 21
Daiwa Securities Living Investment Corporation Provides Earnings Guidance from April 1, 2021, to September 30, 2021 and October 1, 2021, to March 31, 2022 Daiwa Securities Living Investment Corporation provided earnings guidance from April 1, 2021, to September 30, 2021 and October 1, 2021, to March 31, 2022. For the period, the company expects operating revenue of ¥10,813 million, Operating profit of ¥5,060 million, Profit of ¥4,393 million or ¥2,160 per share.
For the period October 1, 2021, to March 31, 2022, the company expects operating revenue of ¥10,880 million, Operating profit of ¥5,104 million, Profit of ¥4,429 million or ¥2,160 per share. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥2,160 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 08 June 2021. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (2.7%). In line with average of industry peers (3.7%). Announcement • Mar 05
Daiwa Securities Living Investment Corporation to Report Fiscal Year 2021 Results on May 20, 2021 Daiwa Securities Living Investment Corporation announced that they will report fiscal year 2021 results on May 20, 2021 Is New 90 Day High Low • Feb 24
New 90-day high: JP¥104,200 The company is up 14% from its price of JP¥91,200 on 26 November 2020. The Japanese market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 16% over the same period. Announcement • Dec 24
Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Hulic Residence for ¥2.6 billion. Daiwa Securities Living Investment Corporation (TSE:8986) agreed to acquire Hulic Residence for ¥2.6 billion on December 23, 2020. Daiwa Securities Living Investment Corporation decided to borrow ¥1.2 billion for transaction financing. The transaction is expected to complete on December 28, 2020. Reported Earnings • Dec 20
Full year 2020 earnings released: EPS JP¥5,082 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: JP¥19.9b (up 19% from FY 2019). Net income: JP¥9.39b (up 44% from FY 2019). Profit margin: 47% (up from 39% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 5% per year. Announcement • Nov 20
Daiwa Securities Living Investment Corporation Announces Revised Earnings Guidance for the Period Ending March 2021 Daiwa Securities Living Investment Corporation announced revised earnings guidance for the period ending March 2021. For the period, the company announced revised operating revenue guidance of JPY 10,463 million against previously reported guidance of JPY 10,139 million. Operating income guidance has been revised from JPY 4,897 million to JPY 5,065 million. Ordinary income guidance has been revised from JPY 4,259 million to JPY 4,402 million. Net income guidance has been revised from JPY 4,259 million to JPY 4,401 million. Net income per unit guidance has been revised from JPY 2,071 million to JPY 2,065 million. Announcement • Sep 19
Daiwa Securities Living Investment Corporation (TSE:8986) entered into a purchase agreement to acquire Reone Nihonbashi Hamacho from J-REX Corporation Co., Ltd. for ¥930 million. Daiwa Securities Living Investment Corporation (TSE:8986) entered into a purchase agreement to acquire Reone Nihonbashi Hamacho from J-REX Corporation Co., Ltd. for ¥930 million on September 18, 2020. Consideration will be paid in lump-sum at the time of acquisition. Transaction will be funded from own funds of Daiwa Securities Living Investment Corporation. Name of Reone Nihonbashi Hamacho will be changed to Gran Casa Nihonbashi Hamacho at the end of October 2020. Transaction is expected to close on September 30, 2020. Tanizawa Sogo Appraisal Co., Ltd. acted as appraiser in the transaction. Announcement • Sep 06
Daiwa Securities Living Investment Corporation to Report Fiscal Year 2020 Results on Nov 19, 2020 Daiwa Securities Living Investment Corporation announced that they will report fiscal year 2020 results on Nov 19, 2020 Announcement • Jul 31
An undisclosed buyers completed the acquisition of 10 properties from Japan Rental Housing Investments Inc. (TSE:8986). An undisclosed buyers agreed to acquire 10 properties from Japan Rental Housing Investments Inc. (TSE:8986) for ¥4.5 billion on April 11, 2019. Under the terms, an undisclosed buyers agreed to acquire willDo Ishizuecho for approximately ¥490 million, willDo Sasaguchi for approximately ¥280 million, Ark Heim Niigata for approximately ¥1 billion, Johanna Mansion for approximately ¥430 million, Joyful Sayama for ¥220 million, Lumiere Hachioji for ¥420 million, willDo Honchiba for approximately ¥490 million, Maison Flora for approximately ¥490 million, willDo Tenmabashi for approximately ¥350 million and willDo Sakaisuji honmachi for ¥310 million. In a related transaction, Japan Rental Housing Investments Inc. agreed to acquire a property on a date after completion of the property. The acquisition will be funded through own funds or loans. The acquisition is expected to close on April 25, 2019. The proceeds from the disposition will be kept as cash on hand and allocated to part of funds for future acquisition of specified assets and associated expenses as well as funds for redemption of investment corporation bonds or repayment of borrowings. Japan Real Estate Institute acted as an appraiser in the transaction.
An undisclosed buyers completed the acquisition of 10 properties from Japan Rental Housing Investments Inc. (TSE:8986) on April 25, 2019. Announcement • Jul 30
Japan Rental Housing Investments Inc. (TSE:8986) completed the acquisition of Gran Casa Urayasu Japan Rental Housing Investments Inc. (TSE:8986) signed a purchase agreement to acquire Gran Casa Urayasu for approximately ¥890 million June 28, 2019. The consideration will be paid in lump-sum at the time of acquisition. The transaction will be funded using own funds or loans. Under the Purchase Agreement, if the contract is cancelled due to Japan Rental Housing Investments Inc’s failure to perform the obligations specified in the contract, Japan Rental Housing Investments Inc. shall promptly pay ¥80 million as a penalty. The transaction is expected to complete on August 27, 2019. The transaction is not likely to have a significant adverse effect on finances and distributions of Japan Rental Housing Investments Inc. The transaction will have only a slight impact on the asset management condition in the fiscal period ending September 30, 2019 and the fiscal period ending March 31, 2020. DAIWA REAL ESTATE APPRAISAL CO.,LTD. acted as the appraiser in the transaction.
Japan Rental Housing Investments Inc. (TSE:8986) completed the acquisition of Gran Casa Urayasu in July, 2019 
