Ichigo Office REIT Investment Corporation
Stock Price Chart
2026/03/02 UpdatedPrice Trend
2026/03/02 UpdatedPrice & Trading Details
2026/03/02 UpdatedPRICE
TRADING
Analyst Recommendations 1 analysts
Updated 2026/03/01Shareholder Composition
Updated 2026/03/01Dividend History 1Years Growth
Updated 2026/03/01| 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
2026/03/01 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 IR Information
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Notice Regarding Treasury Unit Acquisition Status
During the period from February 17 to February 28, 2026, Ichigo Office REIT Investment Corporation acquired 3,145 treasury units for a total amount of 310,405,600 yen.
Read more -
Notice of Executive Personnel Changes in the Asset Management Company
Ichigo Investment Advisors Co., Ltd. renewed its executive structure as of March 1, 2026, appointing Michihiko Sakaguchi as the new Head of the Office REIT Investment Management Department among other key personnel decisions.
Read more -
Notice of Resolution on Acquisition and Cancellation of Treasury Investment Units
Ichigo Office REIT Investment Corporation will acquire up to 12,000 treasury investment units with an acquisition price total cap of 1 billion yen from February 17, 2026, to April 17, 2026, and all acquired treasury units are scheduled to be...
Read more -
Supplementary Materials Regarding the Initiatives Announced on February 16, 2026
Plan to acquire up to 12,000 treasury investment units with a total acquisition price capped at 1 billion yen from February 17 to April 17, 2026. Previously acquired 16,969 units and canceled them in October 2025.
Read more
Latest News (5 items)
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Average Analyst Rating: none
Average Target Price: ¥111,250
Rating Score: - (Based on 1 analysts)
※1=Strong Buy, 5=Strong Sell
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.