Ichigo Office REIT Investment Corporation
Stock Price Chart
2026/08/13 UpdatedPrice Trend
2026/08/13 UpdatedPrice & Trading Details
2026/08/13 UpdatedPRICE
TRADING
Analyst Recommendations 2 analysts
Updated 2026/08/01Earnings Calendar
Updated 2026/08/01Shareholder Composition
Updated 2026/08/01Dividend History
Updated 2026/08/09| 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
2026/08/09 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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News release on Portfolio Occupancy Rate速報値 as of end July 2026
As of the end of July, portfolio occupancy rate速報値 is 97.5% for all properties, 98.1% for the six central wards, and for the four major cities it declined by 0.1 percentage points. Occupancy improved due to new leases. The number...
Read more -
Notice of Share Purchase of Investment Units
The number of investment units acquired is 3,718 units, with a total amount of 359,571,600 yen. The acquisition period was from July 21, 2026 to July 31, 2026 (execution basis), and the acquisition method was broker’s discretionary trading. The maximums...
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【Ichigo Office Reit Investment Corporation】 Executive Personnel Changes and Resolutions | July 2026
Ichigo Office Reit Investment Corporation was approved at the July 25, 2026 General Meeting of Unitholders for the appointment of officers and amendments to the Articles of Incorporation. Tsutomu Kiyama was appointed as an Executive Officer. These are important personnel...
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【Ichigo】Decision on Share Buyback and Cancellation|July 2026
Ichigo Office Lease Investment Corporation has announced the decision to acquire (up to 20,000 shares totaling 1.5 billion yen) and cancel treasury shares (scheduled for October 30, 2026) on July 17, 2026, presenting a strategy to maximize unitholder value.
Read more -
Notice of Asset Transfer Completion|July 2026
Ichigo Office Reit Investment Corporation completed the transfer of four properties contracted on June 10, 2026, on July 17, 2026. The total transfer price is approximately ¥1,422,000 million.
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Latest News (5 items)
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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.