Ichigo Office REIT Investment Corporation
Stock Price Chart
2026/09/25 10:48 UpdatedPrice Trend
2026/09/25 10:48 UpdatedPrice & Trading Details
2026/09/25 10:48 UpdatedPRICE
TRADING
Analyst Recommendations 2 analysts
Updated 2026/09/01Earnings Calendar
Updated 2026/09/01Shareholder Composition
Updated 2026/09/01Dividend History
Updated 2026/09/27| Year | Dividend | Change |
|---|---|---|
| 2026 | ¥2,376 | -60.7% |
| 2025 | ¥6,045 | +23.6% |
| 2024 | ¥4,891 | -22.8% |
| 2023 | ¥6,339 | +39.0% |
| 2022 | ¥4,560 | - |
Financial Performance
2026/09/27 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
-
Notice of Upward Revision of Operating Status and distribution forecast for the October 2026 Period
Acquired three properties, recording expected disposal gains of approximately 2.50 billion yen. Upward revision to operating revenue of about 16.6 billion yen, ordinary income of about 11.0 billion yen, and net income attributable to owners of the parent of about...
Read more -
Notice of Fund Borrowing
Total new borrowing of 5,546 million yen decided. Variable-rate portion of 2,546 million yen at 1.98164% with maturity 2033/04/25; another bank loan of 1,000 million yen at 1.79164% with maturity 2030/03/25; fixed-rate loan of 1,000 million yen at 2.80000% with...
Read more -
Notice of Asset Transfer
To strengthen the portfolio composition focused on mid-sized office properties, assets of Ichigo Shibuya Boulevard Street Building, Ichigo Kamata Building, and Ichigo Sagamihara Building will be transferred. Expected transfer gain of about 2.501 billion yen, transfer to domestic general business...
Read more -
Notice of Fund Loan
As of today, September 25, a loan of 9,812 million yen has been decided. The purpose is to allocate funds to repay existing borrowings. The total loan amount is 9,812 million yen, with interest rates varying by deal, and it...
Read more -
Notice of Acquisition Status, Completion of Acquisition and Cancellation of Investment Units
In September 2026, 3,636 investment units were acquired, total amount not 341,195,700 yen but 341,195,700 yen; cumulatively 15,777 units were acquired with total amount 1,499,918,200 yen. Cancels are 15,777 units, representing 1.03% of issued investment units. Cancellation date: September 30,...
Read more
Latest News (5 items)
-
Average Analyst Rating: none
Average Target Price: ¥108,250
Rating Score: 2.00 (Based on 2 analysts)
※1=Strong Buy, 5=Strong Sell
Company Information
About
Ichigo Office REIT Investment Corporation 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.