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Tokaido REIT, Inc. logo

Tokaido REIT, Inc.

2989.T

JPXReal EstateREIT - Diversified

Open in GoAI

Latest quote

¥98,400

+¥500 · +0.51%

Aug 24, 3:30 PM JST

2989.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Tokaido REIT, Inc. specializes in acquiring and managing industrial real estate assets. This firm, established in 2021, operates from its main office in Tokyo, Japan.

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
JP
CEO
Yoichi Egawa
Listed since
Jun 22, 2021

Market position

52-week range

Current ¥98,400

Open
¥98,400
Previous close
¥97,900
Volume
1.66K
1.09× average
Average volume
1.52K
Average daily volume
Market cap
37.97B JPY
Beta
0.2
Market reference 1
50-day average
¥101,312
-2.87% below average
200-day average
¥108,532.5
-9.34% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
65.27B JPY
EV / EBITDA
22.84×
Earnings yield
5.53%
Free cash flow yield
0.27%

Profitability & efficiency

Return on equity
5.97%
Return on assets
2.92%
Return on invested capital
3.48%

Financial health

Current ratio
0.29×
Altman Z-score
0.86
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends75%65%54%43%Gross margin, FY2022: 60.50%Gross margin, FY2023: 62.15%Gross margin, FY2024: 67.86%Gross margin, FY2025: 72.41%Operating margin, FY2022: 56.19%Operating margin, FY2023: 57.96%Operating margin, FY2024: 57.83%Operating margin, FY2025: 54.89%Net margin, FY2022: 50.61%Net margin, FY2023: 49.85%Net margin, FY2024: 48.78%Net margin, FY2025: 46.05%FY2022FY2023FY2024FY2025
Gross margin FY2022 60.50%. Gross margin FY2023 62.15%. Gross margin FY2024 67.86%. Gross margin FY2025 72.41%. Operating margin FY2022 56.19%. Operating margin FY2023 57.96%. Operating margin FY2024 57.83%. Operating margin FY2025 54.89%. Net margin FY2022 50.61%. Net margin FY2023 49.85%. Net margin FY2024 48.78%. Net margin FY2025 46.05%.

Income trends

Revenue

4.3B JPY+21.56%

Operating income

2.36B JPY+15.37%

Net income

1.98B JPY+14.76%
Income trends across reported periods4.62B JPY3.35B JPY2.08B JPY802.61M JPYRevenue, FY2022: 2.22B JPYRevenue, FY2023: 2.76B JPYRevenue, FY2024: 3.54B JPYRevenue, FY2025: 4.3B JPYOperating income, FY2022: 1.24B JPYOperating income, FY2023: 1.6B JPYOperating income, FY2024: 2.05B JPYOperating income, FY2025: 2.36B JPYNet income, FY2022: 1.12B JPYNet income, FY2023: 1.38B JPYNet income, FY2024: 1.73B JPYNet income, FY2025: 1.98B JPYFY2022FY2023FY2024FY2025
Revenue FY2022 2.22B JPY. Revenue FY2023 2.76B JPY. Revenue FY2024 3.54B JPY. Revenue FY2025 4.3B JPY. Operating income FY2022 1.24B JPY. Operating income FY2023 1.6B JPY. Operating income FY2024 2.05B JPY. Operating income FY2025 2.36B JPY. Net income FY2022 1.12B JPY. Net income FY2023 1.38B JPY. Net income FY2024 1.73B JPY. Net income FY2025 1.98B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022
Revenue4.3B JPY3.54B JPY2.76B JPY2.22B JPY
Cost of goods sold2.03B JPY1.14B JPY1.05B JPY893.18M JPY
Gross profit3.12B JPY2.4B JPY1.72B JPY1.34B JPY
Selling, general, and administrative32.5M JPY263.3M JPY207.05M JPY32M JPY
Operating expenses754.31M JPY354.96M JPY115.91M JPY893M JPY
Interest income3.62M JPY−142.39M JPY19K JPY16K JPY
Interest expense239.34M JPY177.61M JPY——
Depreciation and amortization476.62M JPY388.39M JPY288.81M JPY157.73M JPY
Operating income2.36B JPY2.05B JPY1.6B JPY1.24B JPY
Net income1.98B JPY1.73B JPY1.38B JPY1.12B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
56%
5 beats, 3 misses, 1 met estimate
Average EPS surprise
-32.92%
9 comparable reports
Latest EPS result
3,325
Estimate 3,319 · Beat by 0.18%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3,522.483,370.283,218.083,065.88Q1 '23BeatQ3 '23BeatQ1 '24BeatQ3 '24MetQ1 '25MissQ3 '25BeatQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Mar 17, 2023: actual 3,211, estimate 3,201.36, surprise +0.30%, Beat. Q3 2023, reported Sep 15, 2023: actual 3,341, estimate 3,201.36, surprise +4.36%, Beat. Q1 2024, reported Mar 15, 2024: actual 3,351, estimate 3,340.21, surprise +0.32%, Beat. Q3 2024, reported Sep 17, 2024: actual 3,284, estimate 3,284, surprise 0.00%, Met estimate. Q1 2025, reported Mar 18, 2025: actual 3,335, estimate 3,387, surprise -1.54%, Miss. Q3 2025, reported Sep 16, 2025: actual 3,384, estimate 3,300, surprise +2.55%, Beat. Q1 2026, reported Mar 16, 2026: actual 3,325, estimate 3,319, surprise +0.18%, Beat. Q3 2026, reported Sep 16, 2026: actual —, estimate 3,209, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates2.41B1.95B1.49B1.04BQ1 '23BeatQ3 '23MissQ1 '24MissQ3 '24MetQ1 '25BeatQ3 '25BeatQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Mar 17, 2023: actual 1.15B JPY, estimate 1.13B JPY, surprise +1.50%, Beat. Q3 2023, reported Sep 15, 2023: actual 1.62B JPY, estimate 1.63B JPY, surprise -0.86%, Miss. Q1 2024, reported Mar 15, 2024: actual 1.64B JPY, estimate 1.65B JPY, surprise -0.30%, Miss. Q3 2024, reported Sep 17, 2024: actual 1.9B JPY, estimate 1.9B JPY, surprise 0.00%, Met estimate. Q1 2025, reported Mar 18, 2025: actual 2.01B JPY, estimate 2B JPY, surprise +0.70%, Beat. Q3 2025, reported Sep 16, 2025: actual 2.31B JPY, estimate 2.29B JPY, surprise +0.92%, Beat. Q1 2026, reported Mar 16, 2026: actual 2.32B JPY, estimate 2.31B JPY, surprise +0.09%, Beat. Q3 2026, reported Sep 16, 2026: actual —, estimate 2.31B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥6,689

2025 complete year+19.1% since 2022

2026 partial: ¥6,556

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jul 30, 2026

¥3,230

Semi-Annual

Record Jul 31, 2026 · Payment Jul 30, 2026

Dividend

Ex-dividend Jan 29, 2026

¥3,326

Semi-Annual

Record Jan 31, 2026 · Payment Apr 24, 2026

Dividend

Ex-dividend Jul 30, 2025

¥3,354

Semi-Annual

Record Jul 31, 2025 · Payment Oct 24, 2025

Dividend

Ex-dividend Jan 30, 2025

¥3,335

Semi-Annual

Record Jan 31, 2025 · Payment Apr 24, 2025

Dividend

Ex-dividend Jul 30, 2024

¥3,284

Semi-Annual

Record Jul 31, 2024 · Payment Oct 24, 2024

Dividend

Ex-dividend Jan 30, 2024

¥3,351

Semi-Annual

Record Jan 31, 2024 · Payment Apr 24, 2024

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ETFs holding 2989.T

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Global ex-U.S. Real Estate ETF logoVanguard Global ex-U.S. Real Estate ETFVNQI
Market value
793.29K
Weight
0.02%
AUM
3.9B USD
Expense ratio
0.12%
Price / 1D
$45.80+0.20%
Dimensional - Global Real Estate ETF logoDimensional - Global Real Estate ETFDFGR
Market value
436.64K
Weight
0.01%
AUM
3.85B USD
Expense ratio
0.22%
Price / 1D
$29.62+0.54%
Avantis Real Estate ETF logoAvantis Real Estate ETFAVRE
Market value
55.39K
Weight
0.01%
AUM
877.49M USD
Expense ratio
0.17%
Price / 1D
$48.51+0.52%

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