GoAI
Get started
Invincible Investment Corporation logo

Invincible Investment Corporation

8963.T

JPXReal EstateREIT - Hotel & Motel

Open in GoAI

Latest quote

¥61,300

+¥700 · +1.16%

Aug 24, 2:36 PM JST

8963.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Invincible Investment Corporation (INV) commenced operations in January 2002, established according to the provisions of the Investment Trust and Investment Corporation Act. While the company first appeared on the Osaka Securities Exchange in May 2004, a request for its delisting was filed in August 2007. Prior to that, in August 2006, INV successfully joined the Tokyo Stock Exchange's Real Estate Investment and Trust Securities Section, identifiable by its ticker symbol 8963.

Industry
REIT - Hotel & Motel
Sector
Real Estate
Headquarters
JP
CEO
Naoki Fukuda
Listed since
Aug 1, 2006

Market position

Day range

Current ¥61,300

52-week range

Current ¥61,300

Open
¥60,800
Previous close
¥60,600
Volume
39.79K
1.13× average
Average volume
35.27K
Average daily volume
Market cap
468.73B JPY
Beta
0.26
Market reference 1
50-day average
¥60,882
+0.69% above average
200-day average
¥63,177
-2.97% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
801.66B JPY
P/E (TTM)
15.09×
P/B (TTM)
1.32×
P/S (TTM)
7.47×
EV / EBITDA
17.03×
Earnings yield
6.31%
Free cash flow yield
-0.09%
Dividend yield
6.66%

Profitability & efficiency

Gross margin
41.71%
Operating margin
58.47%
Net margin
49.48%
Return on equity
8.76%
Return on assets
4.38%
Return on invested capital
5.15%

Financial health

Debt / equity
0.98×
Current ratio
0.85×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends85%47%8%-31%Gross margin, FY2021: 22.23%Gross margin, FY2022: 53.57%Gross margin, FY2023: 72.40%Gross margin, FY2024: 75.51%Gross margin, FY2025: 41.60%Operating margin, FY2021: -1.02%Operating margin, FY2022: 42.69%Operating margin, FY2023: 66.06%Operating margin, FY2024: 69.37%Operating margin, FY2025: 58.13%Net margin, FY2021: -21.17%Net margin, FY2022: 31.06%Net margin, FY2023: 57.43%Net margin, FY2024: 60.05%Net margin, FY2025: 49.48%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 22.23%. Gross margin FY2022 53.57%. Gross margin FY2023 72.40%. Gross margin FY2024 75.51%. Gross margin FY2025 41.60%. Operating margin FY2021 -1.02%. Operating margin FY2022 42.69%. Operating margin FY2023 66.06%. Operating margin FY2024 69.37%. Operating margin FY2025 58.13%. Net margin FY2021 -21.17%. Net margin FY2022 31.06%. Net margin FY2023 57.43%. Net margin FY2024 60.05%. Net margin FY2025 49.48%.

Income trends

Revenue

62.77B JPY+34.43%

Operating income

36.49B JPY+12.66%

Net income

31.06B JPY+10.76%
Income trends across reported periods69.3B JPY43.16B JPY17.02B JPY−9.12B JPYRevenue, FY2021: 12.21B JPYRevenue, FY2022: 19.61B JPYRevenue, FY2023: 34.73B JPYRevenue, FY2024: 46.69B JPYRevenue, FY2025: 62.77B JPYOperating income, FY2021: −124.23M JPYOperating income, FY2022: 8.37B JPYOperating income, FY2023: 22.95B JPYOperating income, FY2024: 32.39B JPYOperating income, FY2025: 36.49B JPYNet income, FY2021: −2.59B JPYNet income, FY2022: 6.09B JPYNet income, FY2023: 19.95B JPYNet income, FY2024: 28.04B JPYNet income, FY2025: 31.06B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 12.21B JPY. Revenue FY2022 19.61B JPY. Revenue FY2023 34.73B JPY. Revenue FY2024 46.69B JPY. Revenue FY2025 62.77B JPY. Operating income FY2021 −124.23M JPY. Operating income FY2022 8.37B JPY. Operating income FY2023 22.95B JPY. Operating income FY2024 32.39B JPY. Operating income FY2025 36.49B JPY. Net income FY2021 −2.59B JPY. Net income FY2022 6.09B JPY. Net income FY2023 19.95B JPY. Net income FY2024 28.04B JPY. Net income FY2025 31.06B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue62.77B JPY46.69B JPY34.73B JPY19.61B JPY12.21B JPY
Cost of goods sold36.65B JPY11.43B JPY9.59B JPY9.11B JPY9.5B JPY
Gross profit26.11B JPY35.26B JPY25.15B JPY10.5B JPY2.71B JPY
Selling, general, and administrative3B JPY2.57B JPY2.12B JPY1.85B JPY2.35B JPY
Operating expenses−10.38B JPY2.87B JPY2.2B JPY2.13B JPY519.29M JPY
Interest income1.83B JPY6.26M JPY238K JPY−1.07B JPY1.28M JPY
Interest expense5.16B JPY2.54B JPY1.21B JPY1.16B JPY1.28B JPY
Depreciation and amortization10.84B JPY9.33B JPY7.96B JPY7.52B JPY7.74B JPY
Operating income36.49B JPY32.39B JPY22.95B JPY8.37B JPY−124.23M JPY
Net income31.06B JPY28.04B JPY19.95B JPY6.09B JPY−2.59B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
91%
10 beats, 1 miss, 0 met estimates
Average EPS surprise
+22.26%
11 comparable reports
Latest EPS result
2,182
Estimate 2,150 · Beat by 1.49%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2,293.471,754.691,215.91677.13Q1 '23BeatQ3 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25BeatQ3 '25MissQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Feb 25, 2023: actual 832.45, estimate 788.6, surprise +5.56%, Beat. Q3 2023, reported Aug 25, 2023: actual 1,462.03, estimate 1,446.5, surprise +1.07%, Beat. Q1 2024, reported Feb 26, 2024: actual 1,638.82, estimate 1,606.3, surprise +2.02%, Beat. Q3 2024, reported Aug 26, 2024: actual 1,914, estimate 1,870, surprise +2.35%, Beat. Q1 2025, reported Feb 24, 2025: actual 1,980.39, estimate 1,970, surprise +0.53%, Beat. Q3 2025, reported Aug 25, 2025: actual 1,878.94, estimate 1,885, surprise -0.32%, Miss. Q1 2026, reported Feb 26, 2026: actual 2,182, estimate 2,150, surprise +1.49%, Beat. Q3 2026, reported Aug 31, 2026: actual —, estimate 1,896.32, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates49.47B36.36B23.25B10.14BQ1 '23MissQ3 '23BeatQ1 '24MissQ3 '24BeatQ1 '25BeatQ3 '25BeatQ1 '26BeatQ3 '26Estimate
Q1 2023, reported Feb 25, 2023: actual 11.93B JPY, estimate 12.07B JPY, surprise -1.16%, Miss. Q3 2023, reported Aug 25, 2023: actual 15.91B JPY, estimate 15.79B JPY, surprise +0.82%, Beat. Q1 2024, reported Feb 26, 2024: actual 18.82B JPY, estimate 18.87B JPY, surprise -0.26%, Miss. Q3 2024, reported Aug 26, 2024: actual 46.69B JPY, estimate 20.84B JPY, surprise +124.05%, Beat. Q1 2025, reported Feb 24, 2025: actual 29.44B JPY, estimate 25.29B JPY, surprise +16.42%, Beat. Q3 2025, reported Aug 25, 2025: actual 30.12B JPY, estimate 25.3B JPY, surprise +19.04%, Beat. Q1 2026, reported Feb 26, 2026: actual 28.59B JPY, estimate 28.45B JPY, surprise +0.50%, Beat. Q3 2026, reported Aug 31, 2026: actual —, estimate 26.25B JPY, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Stock split

Effective Jan 27, 2010

5:1

8963.T peers

Mitsubishi Estate Co., Ltd. logo

8802.T

Mitsubishi Estate Co., Ltd.

¥3,730

+1.17%

Mitsui Fudosan Co., Ltd. logo

8801.T

Mitsui Fudosan Co., Ltd.

¥1,519.5

+1.44%

Sumitomo Realty & Development Co., Ltd. logo

8830.T

Sumitomo Realty & Development Co., Ltd.

¥3,398

+1.77%

Daiwa House Industry Co., Ltd. logo

1925.T

Daiwa House Industry Co., Ltd.

¥4,705

+0.34%

Hulic Co., Ltd. logo

3003.T

Hulic Co., Ltd.

¥1,794

+0.79%

Nippon Building Fund Incorporation logo

8951.T

Nippon Building Fund Incorporation

¥130,100

+1.32%

ETFs holding 8963.T

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

Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
42.64M
Weight
0.01%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Developed Markets ETF logoVanguard FTSE Developed Markets ETFVEA
Market value
27.38M
Weight
0.01%
AUM
315B USD
Expense ratio
0.03%
Price / 1D
$73.42+0.80%
iShares Core MSCI EAFE ETF logoiShares Core MSCI EAFE ETFIEFA
Market value
22.8M
Weight
0.01%
AUM
195.14B USD
Expense ratio
0.07%
Price / 1D
$100.85+0.86%
Vanguard Global ex-U.S. Real Estate ETF logoVanguard Global ex-U.S. Real Estate ETFVNQI
Market value
10.7M
Weight
0.27%
AUM
3.9B USD
Expense ratio
0.12%
Price / 1D
$45.71+0.04%
iShares MSCI EAFE Small-Cap ETF logoiShares MSCI EAFE Small-Cap ETFSCZ
Market value
10.06M
Weight
0.08%
AUM
13.28B USD
Expense ratio
0.40%
Price / 1D
$86.60+0.70%
iShares Global REIT ETF logoiShares Global REIT ETFREET
Market value
7.64M
Weight
0.15%
AUM
5.06B USD
Expense ratio
0.14%
Price / 1D
$28.02-0.21%
Schwab International Equity ETF logoSchwab International Equity ETFSCHF
Market value
6.66M
Weight
0.01%
AUM
69.7B USD
Expense ratio
0.03%
Price / 1D
$28.46+0.85%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
6.42M
Weight
0.01%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.69+0.82%

Continue in GoAI

Research 8963.T

research.disclaimer