One REIT, Inc. logo

One REIT, Inc.

3290.T

JPXReal EstateREIT - Diversified

Latest quote

¥77,700

+¥700 · +0.91%

Aug 24, 3:30 PM JST

3290.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

One REIT, Inc. owns Mizuho REIT Management Co., Ltd. (hereinafter referred to as the Asset Management Company). The firm is a member of the Mizuho Financial Group, as its asset management company, and sets middle-sized office buildings as its focal investment target while incorporating other office buildings, etc., aiming to construct a portfolio that both ensures stable income in the medium to long term and exhibits growth potential. Furthermore, One REIT strives for further growth with the aim of maximizing unitholder value under the basic policies of (continuous growth of distributions) and (disciplined external growth while considering the portfolio and financial structure), alongside obtaining various support in terms of property acquisition, management, and financial aspects from our sponsor, Mizuho Trust & Banking Co., Ltd., which has an abundant track record in the Japanese real estate market. One REIT was incorporated, pursuant to the Act on Investment Trusts and Investment Corporations, on June 25, 2013, with the Asset Management Company as the organizer and listed on the J-REIT section of the Tokyo Stock Exchange (securities code: 3290) on October 9, 2013. With public offerings, etc. that have followed, the total number of investment units issued and outstanding as of the end of the period under review stands at 268,468. One REIT, Inc. was incorporated in 2013 in Japan.

Industry
REIT - Diversified
Sector
Real Estate
Headquarters
JP
CEO
Norio Takei
Listed since
Oct 9, 2013
Employees
123

Market position

52-week range

Current ¥77,700

Open
¥77,700
Previous close
¥77,000
Volume
2.03K
0.59× average
Average volume
3.44K
Average daily volume
Market cap
18.64B JPY
Beta
0.38
Market reference 1
50-day average
¥76,320
+1.81% above average
200-day average
¥83,059
-6.45% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
133.62B JPY
P/E (TTM)
14.23×
P/B (TTM)
1.01×
P/S (TTM)
1.14×
EV / EBITDA
20.93×
Earnings yield
6.38%
Free cash flow yield
5.70%
Dividend yield
6.64%

Profitability & efficiency

Gross margin
39.31%
Operating margin
33.69%
Net margin
26.80%
Return on equity
7.43%
Return on assets
3.40%
Return on invested capital
4.01%

Financial health

Debt / equity
1.06×
Current ratio
Altman Z-score
0.6
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends66%56%46%37%Gross margin, FY2021: 63.14%Gross margin, FY2022: 57.94%Gross margin, FY2023: 54.50%Gross margin, FY2024: 54.84%Gross margin, FY2025: 59.84%Operating margin, FY2021: 46.40%Operating margin, FY2022: 49.96%Operating margin, FY2023: 46.37%Operating margin, FY2024: 46.68%Operating margin, FY2025: 51.81%Net margin, FY2021: 40.61%Net margin, FY2022: 43.25%Net margin, FY2023: 39.72%Net margin, FY2024: 39.33%Net margin, FY2025: 44.58%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 63.14%. Gross margin FY2022 57.94%. Gross margin FY2023 54.50%. Gross margin FY2024 54.84%. Gross margin FY2025 59.84%. Operating margin FY2021 46.40%. Operating margin FY2022 49.96%. Operating margin FY2023 46.37%. Operating margin FY2024 46.68%. Operating margin FY2025 51.81%. Net margin FY2021 40.61%. Net margin FY2022 43.25%. Net margin FY2023 39.72%. Net margin FY2024 39.33%. Net margin FY2025 44.58%.

Income trends

Revenue

10.33B JPY+11.92%

Operating income

5.35B JPY+24.21%

Net income

4.61B JPY+26.86%
Income trends across reported periods11B JPY8.32B JPY5.64B JPY2.96B JPYRevenue, FY2021: 8.95B JPYRevenue, FY2022: 8.9B JPYRevenue, FY2023: 9.23B JPYRevenue, FY2024: 9.23B JPYRevenue, FY2025: 10.33B JPYOperating income, FY2021: 4.15B JPYOperating income, FY2022: 4.45B JPYOperating income, FY2023: 4.28B JPYOperating income, FY2024: 4.31B JPYOperating income, FY2025: 5.35B JPYNet income, FY2021: 3.63B JPYNet income, FY2022: 3.85B JPYNet income, FY2023: 3.67B JPYNet income, FY2024: 3.63B JPYNet income, FY2025: 4.61B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 8.95B JPY. Revenue FY2022 8.9B JPY. Revenue FY2023 9.23B JPY. Revenue FY2024 9.23B JPY. Revenue FY2025 10.33B JPY. Operating income FY2021 4.15B JPY. Operating income FY2022 4.45B JPY. Operating income FY2023 4.28B JPY. Operating income FY2024 4.31B JPY. Operating income FY2025 5.35B JPY. Net income FY2021 3.63B JPY. Net income FY2022 3.85B JPY. Net income FY2023 3.67B JPY. Net income FY2024 3.63B JPY. Net income FY2025 4.61B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue10.33B JPY9.23B JPY9.23B JPY8.9B JPY8.95B JPY
Cost of goods sold4.15B JPY4.79B JPY4.2B JPY3.74B JPY3.3B JPY
Gross profit6.18B JPY5.06B JPY5.03B JPY5.16B JPY5.65B JPY
Selling, general, and administrative650.75M JPY641.38M JPY634.48M JPY602.53M JPY553.85M JPY
Operating expenses830.73M JPY753.53M JPY750.84M JPY710.58M JPY1.5B JPY
Interest income16.66M JPY−224.59M JPY201K JPY101K JPY93K JPY
Interest expense547.82M JPY450.85M JPY535.47M JPY328M JPY
Depreciation and amortization1.23B JPY1.2B JPY1.2B JPY1.12B JPY1.01B JPY
Operating income5.35B JPY4.31B JPY4.28B JPY4.45B JPY4.15B JPY
Net income4.61B JPY3.63B JPY3.67B JPY3.85B JPY3.63B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
-0.76%
11 comparable reports
Latest EPS result
2,386
Estimate 2,247 · Beat by 6.19%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3,1982,7172,2361,755Q2 '23BeatQ4 '23BeatQ2 '24BeatQ4 '24BeatQ2 '25BeatQ4 '25BeatQ2 '26BeatQ4 '26Estimate
Q2 2023, reported Apr 14, 2023: actual 2,280.67, estimate 2,202.33, surprise +3.56%, Beat. Q4 2023, reported Oct 16, 2023: actual 2,273.67, estimate 2,165.33, surprise +5.00%, Beat. Q2 2024, reported Apr 15, 2024: actual 2,230.33, estimate 2,196.33, surprise +1.55%, Beat. Q4 2024, reported Oct 15, 2024: actual 2,278.33, estimate 2,140.33, surprise +6.45%, Beat. Q2 2025, reported Apr 14, 2025: actual 2,644.33, estimate 2,602.33, surprise +1.61%, Beat. Q4 2025, reported Oct 15, 2025: actual 3,075, estimate 2,997, surprise +2.60%, Beat. Q2 2026, reported Apr 14, 2026: actual 2,386, estimate 2,247, surprise +6.19%, Beat. Q4 2026, reported Oct 15, 2026: actual —, estimate 1,878, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates5.55B5.13B4.72B4.31BQ2 '23BeatQ4 '23MissQ2 '24MissQ4 '24BeatQ2 '25BeatQ4 '25BeatQ2 '26BeatQ4 '26Estimate
Q2 2023, reported Apr 14, 2023: actual 4.6B JPY, estimate 4.52B JPY, surprise +1.73%, Beat. Q4 2023, reported Oct 16, 2023: actual 4.64B JPY, estimate 4.67B JPY, surprise -0.62%, Miss. Q2 2024, reported Apr 15, 2024: actual 4.58B JPY, estimate 4.61B JPY, surprise -0.76%, Miss. Q4 2024, reported Oct 15, 2024: actual 4.66B JPY, estimate 4.65B JPY, surprise +0.17%, Beat. Q2 2025, reported Apr 14, 2025: actual 5B JPY, estimate 4.99B JPY, surprise +0.24%, Beat. Q4 2025, reported Oct 15, 2025: actual 5.33B JPY, estimate 5.31B JPY, surprise +0.51%, Beat. Q2 2026, reported Apr 14, 2026: actual 4.69B JPY, estimate 4.62B JPY, surprise +1.45%, Beat. Q4 2026, reported Oct 15, 2026: actual —, estimate 5.04B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

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

¥5,182

2025 complete year+2.6% since 2021

2026 partial: ¥2,386

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Aug 28, 2026

¥2,440

Semi-Annual

Record Aug 31, 2026 · Payment Aug 28, 2026

Dividend

Ex-dividend Feb 26, 2026

¥2,386

Semi-Annual

Record Feb 28, 2026 · Payment May 19, 2026

Dividend

Ex-dividend Aug 28, 2025

¥8,329

Semi-Annual

Record Aug 31, 2025 · Payment Nov 19, 2025

Dividend

Ex-dividend Feb 27, 2025

¥7,217

Semi-Annual

Record Feb 28, 2025 · Payment May 19, 2025

Dividend

Ex-dividend Aug 29, 2024

¥6,835

Semi-Annual

Record Aug 31, 2024 · Payment Nov 19, 2024

Dividend

Ex-dividend Feb 28, 2024

¥6,691

Semi-Annual

Record Feb 29, 2024 · Payment May 20, 2024

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