Ichigo Office REIT Investment Corporation
Stock Price Chart
2026/01/16 UpdatedPrice Trend
2026/01/16 UpdatedPrice & Trading Details
2026/01/16 UpdatedPRICE
TRADING
Analyst Recommendations 1 analysts
Updated 2026/01/11Shareholder Composition
Updated 2026/01/11Dividend History 1Years Growth
Updated 2026/01/11| Year | Dividend | Change |
|---|---|---|
| 2025 | ¥6,045 | +23.6% |
| 2024 | ¥4,891 | -22.8% |
| 2023 | ¥6,339 | +39.0% |
| 2022 | ¥4,560 | +5.6% |
| 2021 | ¥4,317 | - |
Financial Performance
2026/01/11 UpdatedRevenue & Profit
Margins
Cash Flow
Financial Health
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | ¥15,569M | ¥16,476M | ¥20,296M | ¥17,291M |
| Gross Profit | ¥9,840M | ¥10,363M | ¥13,941M | ¥10,758M |
| Operating Income | ¥7,886M | ¥8,212M | ¥11,104M | ¥9,086M |
| Pretax Income | ¥7,289M | ¥7,587M | ¥10,456M | ¥8,519M |
| Net Income | ¥6,322M | ¥6,692M | ¥9,486M | ¥7,405M |
| EPS | - | ¥4,421.94 | ¥6,268.06 | ¥4,820.68 |
| Operating Margin | 50.65% | 49.84% | 54.71% | 52.54% |
| Balance Sheet | ||||
| Total Assets | ¥227,653M | ¥229,967M | ¥231,001M | ¥244,755M |
| Total Equity | ¥102,422M | ¥102,012M | ¥102,000M | ¥106,375M |
| Total Liabilities | ¥125,231M | ¥127,955M | ¥129,002M | ¥138,380M |
| Cash | ¥9,421M | ¥8,697M | ¥6,486M | ¥6,858M |
| Interest-bearing Debt | ¥111,253M | ¥113,111M | ¥114,907M | ¥123,757M |
| Equity Ratio | 44.99% | 44.36% | 44.16% | 43.46% |
| D/E Ratio | 1.09 | 1.11 | 1.13 | 1.16 |
| Cash Flow | ||||
| Operating CF | ¥8,518M | ¥9,795M | ¥17,058M | ¥12,232M |
| Investing CF | -¥5,072M | -¥5,188M | -¥11,539M | -¥17,192M |
| Financing CF | -¥6,246M | -¥5,244M | -¥7,700M | ¥5,814M |
| Free CF | ¥3,342M | ¥4,546M | ¥5,579M | -¥5,277M |
| Efficiency | ||||
| ROE | 6.17% | 6.56% | 9.30% | 6.96% |
| ROA | 2.78% | 2.91% | 4.11% | 3.03% |
Latest News (5 items)
-
Average Analyst Rating: none
Average Target Price: ¥108,250
Rating Score: - (Based on 1 analysts)
※1=Strong Buy, 5=Strong Sell
Ichigo Office REIT Posts Slight Occupancy Dip but Lifts Rents with Value-Add Leasing - TipRanks ↗
Company Information
About
Ichigo Office (8975) is a specialized office REIT that focuses on mid-size offices, an asset class that offers both return stability and upside potential. Ichigo Office seeks to drive higher earnings and sustainable growth for its shareholders by increasing the value of its assets through a broad array of value-add activities, including tailored tenant services, structural building improvements, and targeted tenant leasing. Ichigo Office is managed by Ichigo Investment Advisors, the asset management subsidiary of Ichigo, a major Japanese real estate owner/operator. Ichigo Investment Advisors works to grow value on behalf of shareholders by deploying its deep experience and know-how in developing, operating, and managing Japanese real estate. The mid-size offices in which we invest produce stable cashflows, supporting stable dividends for shareholders. Also, this economically-sensitive asset class provides upside for shareholders via the possibility of higher rent income as the Japanese economy shows signs of emerging from multiple decades of deflation. Furthermore, because the market for mid-size offices in Japan is relatively inefficient and has less participation by other major real estate companies, who tend to focus on larger assets, there is a significant opportunity to add value and increase the profitability of the assets we acquire.