Japan Logistics Fund, Inc. logo

Japan Logistics Fund, Inc.

8967.T

JPXReal EstateREIT - Industrial

Latest quote

¥95,900

+¥700 · +0.74%

Aug 24, 3:30 PM JST

8967.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

The Japan Logistics Fund (JLF) is notable as the first J-REIT dedicated solely to logistics properties. Its investment portfolio consists of real estate and other assets used for logistics facilities, primarily located in the Tokyo Metropolitan, Kinki, Chubu, and Kyushu areas. Formed on February 22, 2005, under the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951), JLF was conceptualized by Mitsui & Co., Logistics Partners Ltd. It subsequently began trading on the REIT section of the Tokyo Stock Exchange on May 9, 2005, using the security code 8967.

Industry
REIT - Industrial
Sector
Real Estate
Headquarters
JP
CEO
Seiichi Suzuki
Listed since
Sep 29, 2005
Employees
33

Market position

Day range

Current ¥95,900

52-week range

Current ¥95,900

Open
¥96,000
Previous close
¥95,200
Volume
8.33K
1.37× average
Average volume
6.08K
Average daily volume
Market cap
263.36B JPY
Beta
0.34
Market reference 1
50-day average
¥96,166
-0.28% below average
200-day average
¥99,039.5
-3.17% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
387.96B JPY
P/E (TTM)
21.09×
P/B (TTM)
1.87×
P/S (TTM)
10.62×
EV / EBITDA
22.7×
Earnings yield
4.50%
Free cash flow yield
6.65%
Dividend yield
4.86%

Profitability & efficiency

Gross margin
48.67%
Operating margin
54.13%
Net margin
50.42%
Return on equity
8.87%
Return on assets
4.56%
Return on invested capital
4.98%

Financial health

Debt / equity
0.86×
Current ratio
0.83×
Altman Z-score
1.69
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends65%58%52%45%Gross margin, FY2021: 62.64%Gross margin, FY2022: 52.71%Gross margin, FY2023: 63.38%Gross margin, FY2024: 55.72%Gross margin, FY2025: 58.39%Operating margin, FY2021: 52.49%Operating margin, FY2022: 51.32%Operating margin, FY2023: 53.00%Operating margin, FY2024: 54.06%Operating margin, FY2025: 56.88%Net margin, FY2021: 47.86%Net margin, FY2022: 46.89%Net margin, FY2023: 48.80%Net margin, FY2024: 49.99%Net margin, FY2025: 53.02%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 62.64%. Gross margin FY2022 52.71%. Gross margin FY2023 63.38%. Gross margin FY2024 55.72%. Gross margin FY2025 58.39%. Operating margin FY2021 52.49%. Operating margin FY2022 51.32%. Operating margin FY2023 53.00%. Operating margin FY2024 54.06%. Operating margin FY2025 56.88%. Net margin FY2021 47.86%. Net margin FY2022 46.89%. Net margin FY2023 48.80%. Net margin FY2024 49.99%. Net margin FY2025 53.02%.

Income trends

Revenue

23.59B JPY+9.95%

Operating income

13.42B JPY+15.67%

Net income

12.51B JPY+16.61%
Income trends across reported periods25.04B JPY19.22B JPY13.4B JPY7.58B JPYRevenue, FY2021: 18.88B JPYRevenue, FY2022: 20.3B JPYRevenue, FY2023: 20.86B JPYRevenue, FY2024: 21.45B JPYRevenue, FY2025: 23.59B JPYOperating income, FY2021: 9.91B JPYOperating income, FY2022: 10.42B JPYOperating income, FY2023: 11.06B JPYOperating income, FY2024: 11.6B JPYOperating income, FY2025: 13.42B JPYNet income, FY2021: 9.04B JPYNet income, FY2022: 9.52B JPYNet income, FY2023: 10.18B JPYNet income, FY2024: 10.72B JPYNet income, FY2025: 12.51B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 18.88B JPY. Revenue FY2022 20.3B JPY. Revenue FY2023 20.86B JPY. Revenue FY2024 21.45B JPY. Revenue FY2025 23.59B JPY. Operating income FY2021 9.91B JPY. Operating income FY2022 10.42B JPY. Operating income FY2023 11.06B JPY. Operating income FY2024 11.6B JPY. Operating income FY2025 13.42B JPY. Net income FY2021 9.04B JPY. Net income FY2022 9.52B JPY. Net income FY2023 10.18B JPY. Net income FY2024 10.72B JPY. Net income FY2025 12.51B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue23.59B JPY21.45B JPY20.86B JPY20.3B JPY18.88B JPY
Cost of goods sold9.81B JPY9.5B JPY7.64B JPY7.65B JPY7.05B JPY
Gross profit13.77B JPY11.95B JPY13.22B JPY10.7B JPY11.83B JPY
Selling, general, and administrative91.55M JPY141M JPY1.96B JPY115.72M JPY1.73B JPY
Operating expenses357.18M JPY356M JPY2.17B JPY2.08B JPY1.92B JPY
Interest income3.5M JPY55K JPY1.78M JPY
Interest expense754.23M JPY844.22M JPY734.44M JPY
Depreciation and amortization3.66B JPY3.75B JPY3.76B JPY3.82B JPY3.74B JPY
Operating income13.42B JPY11.6B JPY11.06B JPY10.42B JPY9.91B JPY
Net income12.51B JPY10.72B JPY10.18B JPY9.52B JPY9.04B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
-0.19%
11 comparable reports
Latest EPS result
2,332
Estimate 2,335 · Miss by 0.13%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2,485.62,197.421,909.251,621.07Q1 '23BeatQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25MissQ3 '25MissQ1 '26MissQ3 '26Estimate
Q1 2023, reported Mar 14, 2023: actual 1,745, estimate 1,743, surprise +0.11%, Beat. Q3 2023, reported Sep 13, 2023: actual 1,716.67, estimate 1,719.17, surprise -0.15%, Miss. Q1 2024, reported Mar 15, 2024: actual 1,736.33, estimate 1,741, surprise -0.27%, Miss. Q3 2024, reported Sep 11, 2024: actual 1,905.33, estimate 1,923.95, surprise -0.97%, Miss. Q1 2025, reported Mar 12, 2025: actual 1,943, estimate 1,953.33, surprise -0.53%, Miss. Q3 2025, reported Sep 12, 2025: actual 2,214, estimate 2,250, surprise -1.60%, Miss. Q1 2026, reported Mar 17, 2026: actual 2,332, estimate 2,335, surprise -0.13%, Miss. Q3 2026, reported Sep 15, 2026: actual —, estimate 2,390, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates19.2B15.92B12.65B9.37BQ1 '23BeatQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25MissQ3 '25BeatQ1 '26MissQ3 '26Estimate
Q1 2023, reported Mar 14, 2023: actual 10.16B JPY, estimate 10.11B JPY, surprise +0.48%, Beat. Q3 2023, reported Sep 13, 2023: actual 10.14B JPY, estimate 18.46B JPY, surprise -45.08%, Miss. Q1 2024, reported Mar 15, 2024: actual 10.15B JPY, estimate 10.15B JPY, surprise -0.01%, Miss. Q3 2024, reported Sep 11, 2024: actual 10.71B JPY, estimate 13.51B JPY, surprise -20.70%, Miss. Q1 2025, reported Mar 12, 2025: actual 10.74B JPY, estimate 10.77B JPY, surprise -0.30%, Miss. Q3 2025, reported Sep 12, 2025: actual 11.65B JPY, estimate 11.63B JPY, surprise +0.22%, Beat. Q1 2026, reported Mar 17, 2026: actual 11.93B JPY, estimate 12B JPY, surprise -0.56%, Miss. Q3 2026, reported Sep 15, 2026: actual —, estimate 11.97B JPY, surprise —, Comparison unavailable.

Corporate actions

Corporate action history

Stock split

Effective Jan 30, 2025

3:1

Stock split

Effective Jan 29, 2014

5:1

8967.T peers

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

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