Ichigo Office REIT Investment Corporation

2026/01/16 Updated
Market Cap: $965.5M (¥153.0B)
Stock Price: $620.90 (¥98,400)
Exchange Rate: 1 USD = ¥158.48

Stock Price Chart

2026/01/16 Updated
16.26
PER (Price Earnings Ratio)
vs Industry Avg: +6.7
1.45
PBR (Price to Book Ratio)
vs Industry Avg: +0.2
4.66%
Dividend Yield
vs Industry Avg: +1.71%

Price Trend

2026/01/16 Updated
Short-term
5-Day MA
+0.49%
Near-term
25-Day MA
+1.19%
Mid-term
75-Day MA
+2.83%
Long-term
200-Day MA
+8.62%

Price & Trading Details

2026/01/16 Updated

PRICE

Previous Close ¥97,700
Open ¥97,700
High ¥98,800
Low ¥97,400
Close ¥98,400

TRADING

Volume 2,991
Average Volume 3,099
Turnover ¥3億
Min. Purchase ¥9,840,000

Analyst Recommendations 1 analysts

Updated 2026/01/11
Strong Buy
0
Buy
1
1
Hold
0
Sell
0
Strong Sell
0
Target Price (Mean)
¥108,250
None
¥116,500
High
¥108,250
Median
¥100,000
Low
+11% vs Current Price
This information is based on market data from third-party data providers and is for reference only. Investment decisions are your own responsibility.

Shareholder Composition

Updated 2026/01/11
12.8%
Insider Holdings
64.3%
Institutional
22.8%
Public Float
93
Institutional Holders
Insider Holdings 12.8%
Institutional 64.3%
Public Float 22.8%

Dividend History 1Years Growth

Updated 2026/01/11
-%
Dividend Yield
¥6,045
Annual Dividend
+23.6%
YoY Growth
1.0%
Payout Ratio
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 Updated

Revenue & 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%

Company Information

English Name Ichigo Office REIT Investment Corporation
Japanese Name いちごオフィスリート投資法人
Stock Code 8975.T (JPX)
Sector / Industry Real Estate / REIT - Office

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.

Data provided by Yahoo Finance