
Ichigo Office REIT Investment Corporation
8975.TJPXReal EstateREIT - Office
Latest quote
¥94,800
+¥800 · +0.85%
8975.T company overview
Regular session · JST · Market data may be delayed.
Company profile
Company websiteIchigo Office (8975) is a specialized Real Estate Investment Trust dedicated to investing in mid-sized office properties. This particular asset class offers a compelling blend of stable returns and potential for capital appreciation. The company's objective is to enhance shareholder earnings and foster sustainable growth by actively increasing the value of its real estate portfolio. This is achieved through a range of proactive asset management strategies, including providing tailored services to tenants, executing structural building enhancements, and strategically managing tenant leasing. Management of Ichigo Office is conducted by Ichigo Investment Advisors, the dedicated asset management subsidiary of Ichigo, a leading Japanese real estate owner and operator. This entity applies its extensive experience and profound knowledge in the development, operation, and administration of Japanese properties to generate value for shareholders. The mid-sized offices within the portfolio consistently produce stable cash flows, thereby ensuring reliable dividend distributions to investors. Furthermore, this asset class, sensitive to economic cycles, presents an upside opportunity for shareholders through the potential for higher rental income, particularly as the Japanese economy exhibits signs of recovery from decades of deflation. A distinct advantage arises from the Japanese mid-sized office market's relative inefficiency and the limited involvement of other major real estate companies, who typically prioritize larger assets. This market dynamic creates significant scope for adding value and boosting the profitability of acquired properties.
- Industry
- REIT - Office
- Sector
- Real Estate
- Headquarters
- JP
- CEO
- Takuma Hasegawa
- Listed since
- Oct 12, 2005
Market position
52-week range
Current ¥94,800
- Open
- ¥94,800
- Previous close
- ¥94,000
- Volume
- 3.12K
- 0.82× average
- Average volume
- 3.82K
- Average daily volume
- Market cap
- 144.83B JPY
- Beta
- 0.16
- Market reference 1
- 50-day average
- ¥93,794
- +1.07% above average
- 200-day average
- ¥94,511.5
- +0.31% above average
Financials
Financial snapshot
Latest / TTMValuation & yield
- Enterprise value
- 243.49B JPY
- P/E (TTM)
- 18.72×
- P/B (TTM)
- 1.41×
- P/S (TTM)
- 6.95×
- EV / EBITDA
- 18.56×
- Earnings yield
- 6.40%
- Free cash flow yield
- 10.79%
- Dividend yield
- 5.37%
Profitability & efficiency
- Gross margin
- 39.06%
- Operating margin
- 46.32%
- Net margin
- 37.44%
- Return on equity
- 8.92%
- Return on assets
- 3.82%
- Return on invested capital
- 4.64%
Financial health
- Debt / equity
- 1.23×
- Current ratio
- 1.22×
Financial statements
Margin trends
Profitability as a percentage of reported revenue.
Income trends
Revenue
Operating income
Net income
| Metric (JPY) | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 26.92B JPY | 17.29B JPY | 20.29B JPY | 16.48B JPY | 15.57B JPY |
| Cost of goods sold | 16.41B JPY | 6.53B JPY | 6.35B JPY | 6.11B JPY | 5.73B JPY |
| Gross profit | 10.51B JPY | 10.76B JPY | 13.94B JPY | 10.36B JPY | 9.84B JPY |
| Selling, general, and administrative | 1.39B JPY | 1.47B JPY | 2.49B JPY | 2B JPY | 1.82B JPY |
| Operating expenses | −655.51M JPY | 1.67B JPY | 2.84B JPY | 2.15B JPY | 1.95B JPY |
| Interest income | 31.61M JPY | 2.13M JPY | 230K JPY | 222K JPY | 228K JPY |
| Depreciation and amortization | 1.98B JPY | 1.96B JPY | 1.92B JPY | 1.8B JPY | 1.76B JPY |
| Operating income | 11.14B JPY | 9.09B JPY | 11.1B JPY | 8.21B JPY | 7.89B JPY |
| Net income | 9.35B JPY | 7.4B JPY | 9.49B JPY | 6.69B JPY | 6.32B JPY |
Company facts updated Aug 24, 2026.
Earnings
- Latest fiscal-year EPS
- 6,039.88
- FY2025 · +24.87% year over year
- Latest fiscal-year revenue
- 26.92B JPY
- FY2025 · +55.69% year over year
Annual EPS trend
Reported history and fiscal-year consensus
Annual revenue trend
Reported history and fiscal-year consensus
Corporate actions
Annual dividends per share
Cash distributions grouped by calendar year; partial years are marked.
¥6,045
2025 complete year+40.0% since 2021
2026 partial: ¥2,376
¥4,317
2,021
¥4,560
2,022
¥6,339
2,023
¥4,891
2,024
¥6,045
2,025
¥2,376
2,026*
* Partial calendar year in the available dividend history.
Corporate action history
| Action | Ex-dividend date | Details | Record date | Payment date |
|---|---|---|---|---|
DividendUpcoming | Oct 29, 2026 | ¥5,683Semi-Annual | Oct 31, 2026 | Oct 29, 2026 |
Dividend | Apr 28, 2026 | ¥2,376Semi-Annual | Apr 30, 2026 | Jul 22, 2026 |
Dividend | Oct 30, 2025 | ¥2,715Semi-Annual | Oct 31, 2025 | Jan 21, 2026 |
Dividend | Apr 28, 2025 | ¥3,330Semi-Annual | Apr 30, 2025 | Jul 22, 2025 |
Dividend | Oct 30, 2024 | ¥2,692Semi-Annual | Oct 31, 2024 | Jan 21, 2025 |
Dividend | Apr 26, 2024 | ¥2,199Semi-Annual | Apr 30, 2024 | Jul 22, 2024 |
Ex-dividend Oct 29, 2026
¥5,683
Semi-Annual
Record Oct 31, 2026 · Payment Oct 29, 2026
Ex-dividend Apr 28, 2026
¥2,376
Semi-Annual
Record Apr 30, 2026 · Payment Jul 22, 2026
Ex-dividend Oct 30, 2025
¥2,715
Semi-Annual
Record Oct 31, 2025 · Payment Jan 21, 2026
Ex-dividend Apr 28, 2025
¥3,330
Semi-Annual
Record Apr 30, 2025 · Payment Jul 22, 2025
Ex-dividend Oct 30, 2024
¥2,692
Semi-Annual
Record Oct 31, 2024 · Payment Jan 21, 2025
Ex-dividend Apr 26, 2024
¥2,199
Semi-Annual
Record Apr 30, 2024 · Payment Jul 22, 2024
8975.T peers
ETFs holding 8975.T
Funds reporting this stock among their holdings, ordered by reported position size.
State Street SPDR Portfolio Developed World ex-US ETFSPDW9.24M0.02%41.92B USD0.03%$51.80-0.42%
Vanguard Total International Stock ETFVXUS8.53M0.00%646.2B USD0.05%$87.20-0.58%
iShares Core MSCI EAFE ETFIEFA6.1M0.00%195.14B USD0.07%$100.67-0.18%
Vanguard FTSE Developed Markets ETFVEA5.38M0.00%315B USD0.03%$73.06-0.49%
Vanguard Global ex-U.S. Real Estate ETFVNQI2.24M0.06%3.9B USD0.12%$45.80+0.20%
Vanguard FTSE All-World ex-US Small-Cap ETFVSS2.06M0.01%13.6B USD0.06%$158.95-0.69%
iShares MSCI EAFE Small-Cap ETFSCZ2.05M0.02%13.28B USD0.40%$86.50-0.12%
iShares Core MSCI Total International Stock ETFIXUS1.84M0.00%60.91B USD0.07%$97.40-0.56%
State Street SPDR Portfolio Developed World ex-US ETFSPDW- Market value
- 9.24M
- Weight
- 0.02%
- AUM
- 41.92B USD
- Expense ratio
- 0.03%
- Price / 1D
- $51.80-0.42%
Vanguard Total International Stock ETFVXUS- Market value
- 8.53M
- Weight
- 0.00%
- AUM
- 646.2B USD
- Expense ratio
- 0.05%
- Price / 1D
- $87.20-0.58%
iShares Core MSCI EAFE ETFIEFA- Market value
- 6.1M
- Weight
- 0.00%
- AUM
- 195.14B USD
- Expense ratio
- 0.07%
- Price / 1D
- $100.67-0.18%
Vanguard FTSE Developed Markets ETFVEA- Market value
- 5.38M
- Weight
- 0.00%
- AUM
- 315B USD
- Expense ratio
- 0.03%
- Price / 1D
- $73.06-0.49%
Vanguard Global ex-U.S. Real Estate ETFVNQI- Market value
- 2.24M
- Weight
- 0.06%
- AUM
- 3.9B USD
- Expense ratio
- 0.12%
- Price / 1D
- $45.80+0.20%
Vanguard FTSE All-World ex-US Small-Cap ETFVSS- Market value
- 2.06M
- Weight
- 0.01%
- AUM
- 13.6B USD
- Expense ratio
- 0.06%
- Price / 1D
- $158.95-0.69%
iShares MSCI EAFE Small-Cap ETFSCZ- Market value
- 2.05M
- Weight
- 0.02%
- AUM
- 13.28B USD
- Expense ratio
- 0.40%
- Price / 1D
- $86.50-0.12%
iShares Core MSCI Total International Stock ETFIXUS- Market value
- 1.84M
- Weight
- 0.00%
- AUM
- 60.91B USD
- Expense ratio
- 0.07%
- Price / 1D
- $97.40-0.56%
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