Daiwa Office Investment Corporation

8976.T

JPXReal EstateREIT - Office

Open in GoAI

Latest quote

¥306,000

−¥3,000 · -0.97%

Company profile

Daiwa Office Investment Corporation, a Real Estate Investment Trust, specializes in acquiring and overseeing office properties located within the five central wards of Tokyo.

Daiwa Office Investment Corporation

8976.T

JPXReal EstateREIT - Office

Open in GoAI

Latest quote

¥306,000

−¥3,000 · -0.97%

Sep 8, 9:48 AM JST

Latest quote

¥306,000

−¥3,000 · -0.97%

Regular session · JST · Market data may be delayed.

Company profile

Company website

Daiwa Office Investment Corporation, a Real Estate Investment Trust, specializes in acquiring and overseeing office properties located within the five central wards of Tokyo.

Industry: REIT - Office
Sector: Real Estate
Headquarters: JP
CEO: Daisuke Eki
Listed since: Oct 19, 2005
Employees: 124

Market position

Day range

Current ¥306,000

¥303,500¥307,000

52-week range

Current ¥306,000

¥303,500¥391,000

Open: ¥307,000
Previous close: ¥309,000
Volume: 1.8K; 0.97× average
Average volume: 1.86K; Average daily volume
Market cap: 286.03B JPY
Beta: 0.14; Market reference 1
50-day average: ¥329,020; -7.00% below average
200-day average: ¥346,227.5; -11.62% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 537.54B JPY
P/E (TTM): 18.58×
P/B (TTM): 1.18×
P/S (TTM): 7.13×
EV / EBITDA: 26.54×
Earnings yield: 4.10%
Free cash flow yield: 6.23%
Dividend yield: 5.11%

Profitability & efficiency

Gross margin: 38.98%
Operating margin: 44.30%
Net margin: 38.44%
Return on equity: 5.96%
Return on assets: 2.96%
Return on invested capital: 3.41%

Financial health

Debt / equity: 0.98×
Current ratio: 1.21×
Altman Z-score: 1.04
Piotroski F-score: 7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

37.51B JPY+30.30%

Operating income

16.48B JPY+11.01%

Net income

14.45B JPY+7.99%

Financial statements: Income statement
Metric (JPY)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	37.51B JPY	28.79B JPY	28.7B JPY	28.37B JPY	28.94B JPY
Cost of goods sold	23.31B JPY	13.47B JPY	11.55B JPY	10.6B JPY	10.6B JPY
Gross profit	14.19B JPY	15.31B JPY	17.15B JPY	17.77B JPY	18.34B JPY
Selling, general, and administrative	2.62B JPY	195.31M JPY	2.46B JPY	2.51B JPY	2.54B JPY
Operating expenses	−2.29B JPY	467.22M JPY	2.74B JPY	2.78B JPY	2.85B JPY
Interest income	11.02M JPY	202.14M JPY	29K JPY	29K JPY	30K JPY
Interest expense	—	1.12B JPY	868.59M JPY	846.12M JPY	878.3M JPY
Depreciation and amortization	3.77B JPY	3.75B JPY	3.59B JPY	3.58B JPY	3.63B JPY
Operating income	16.48B JPY	14.84B JPY	14.41B JPY	14.99B JPY	15.49B JPY
Net income	14.45B JPY	13.38B JPY	13.29B JPY	14.01B JPY	14.35B JPY

Company facts updated Sep 8, 2026.

Earnings

EPS beat rate: 55%; 6 beats, 5 misses, 0 met estimates
Average EPS surprise: -0.12%; 11 comparable reports
Latest EPS result: 8,629.54; Estimate 8,592.2 · Beat by 0.43%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate

Latest fiscal-year EPS: 15,342; FY2025 · +9.08% year over year
Latest fiscal-year revenue: 37.51B JPY; FY2025 · +30.30% year over year
Next fiscal-year EPS consensus: 15,398.22; FY2026 · 3 analysts
Next fiscal-year revenue consensus: 30B JPY; FY2026 · 3 analysts

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Corporate actions

Annual dividends per share

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

¥14,940

2025 complete year+6.7% since 2021

2026 partial: ¥7,630

¥14,000

2,021

¥13,850

2,022

¥13,700

2,023

¥13,700

2,024

¥14,940

2,025

¥7,630

2,026*

* Partial calendar year in the available dividend history.

Corporate action history

Action	Ex-dividend date	Details	Record date	Payment date
DividendUpcoming	Nov 27, 2026	¥7,170Semi-Annual	Nov 30, 2026	Nov 27, 2026
Dividend	May 28, 2026	¥7,630Semi-Annual	May 31, 2026	Aug 14, 2026
Dividend	Nov 27, 2025	¥8,020Semi-Annual	Nov 30, 2025	Feb 13, 2026
Dividend	May 29, 2025	¥6,920Semi-Annual	May 31, 2025	Aug 14, 2025
Dividend	Nov 28, 2024	¥6,850Semi-Annual	Nov 30, 2024	Feb 14, 2025
Dividend	May 30, 2024	¥13,700Semi-Annual	May 31, 2024	Aug 15, 2024

DividendUpcoming

Ex-dividend Nov 27, 2026

¥7,170

Semi-Annual

Record Nov 30, 2026 · Payment Nov 27, 2026

Dividend

Ex-dividend May 28, 2026

¥7,630

Semi-Annual

Record May 31, 2026 · Payment Aug 14, 2026

Dividend

Ex-dividend Nov 27, 2025

¥8,020

Semi-Annual

Record Nov 30, 2025 · Payment Feb 13, 2026

Dividend

Ex-dividend May 29, 2025

¥6,920

Semi-Annual

Record May 31, 2025 · Payment Aug 14, 2025

Dividend

Ex-dividend Nov 28, 2024

¥6,850

Semi-Annual

Record Nov 30, 2024 · Payment Feb 14, 2025

Dividend

Ex-dividend May 30, 2024

¥13,700

Semi-Annual

Record May 31, 2024 · Payment Aug 15, 2024

8976.T peers

8802.T

Mitsubishi Estate Co., Ltd.

¥3,664

-0.79%

8801.T

Mitsui Fudosan Co., Ltd.

¥1,493

-1.13%

8830.T

Sumitomo Realty & Development Co., Ltd.

¥3,211

-0.83%

1925.T

Daiwa House Industry Co., Ltd.

¥4,634

-1.34%

3003.T

Hulic Co., Ltd.

¥1,738

-1.70%

8951.T

Nippon Building Fund Incorporation

¥122,500

-1.37%

ETFs holding 8976.T

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

ETFMarket valueWeightAUMExpense ratioPrice / 1D

Vanguard Total International Stock ETFVXUS15.93M0.00%646.2B USD0.05%$88.41+0.50%

Vanguard FTSE Developed Markets ETFVEA10.93M0.00%315B USD0.03%$73.76+0.44%

iShares Core MSCI EAFE ETFIEFA7.2M0.00%196.63B USD0.07%$101.08+0.13%

Vanguard Global ex-U.S. Real Estate ETFVNQI5.33M0.14%3.9B USD0.12%$45.27+0.18%

iShares MSCI EAFE Small-Cap ETFSCZ3.8M0.03%13.23B USD0.40%$87.57+0.10%

iShares Global REIT ETFREET2.83M0.06%4.93B USD0.14%$27.40-0.45%

iShares Core MSCI Total International Stock ETFIXUS2.63M0.00%61.15B USD0.07%$98.71+0.57%

Vanguard FTSE All-World ex-US ETFVEU2.54M0.00%95.9B USD0.04%$86.41+0.54%

Vanguard Total International Stock ETFVXUS

Market value: 15.93M
Weight: 0.00%
AUM: 646.2B USD
Expense ratio: 0.05%
Price / 1D: $88.41+0.50%

Vanguard FTSE Developed Markets ETFVEA

Market value: 10.93M
Weight: 0.00%
AUM: 315B USD
Expense ratio: 0.03%
Price / 1D: $73.76+0.44%

iShares Core MSCI EAFE ETFIEFA

Market value: 7.2M
Weight: 0.00%
AUM: 196.63B USD
Expense ratio: 0.07%
Price / 1D: $101.08+0.13%

Vanguard Global ex-U.S. Real Estate ETFVNQI

Market value: 5.33M
Weight: 0.14%
AUM: 3.9B USD
Expense ratio: 0.12%
Price / 1D: $45.27+0.18%

iShares MSCI EAFE Small-Cap ETFSCZ

Market value: 3.8M
Weight: 0.03%
AUM: 13.23B USD
Expense ratio: 0.40%
Price / 1D: $87.57+0.10%

iShares Global REIT ETFREET

Market value: 2.83M
Weight: 0.06%
AUM: 4.93B USD
Expense ratio: 0.14%
Price / 1D: $27.40-0.45%

iShares Core MSCI Total International Stock ETFIXUS

Market value: 2.63M
Weight: 0.00%
AUM: 61.15B USD
Expense ratio: 0.07%
Price / 1D: $98.71+0.57%

Vanguard FTSE All-World ex-US ETFVEU

Market value: 2.54M
Weight: 0.00%
AUM: 95.9B USD
Expense ratio: 0.04%
Price / 1D: $86.41+0.54%

Continue in GoAI

Research 8976.T

AI-generated and delayed market data for informational and educational purposes only. Not investment advice.

Regular session · JST · Market data may be delayed.

Company profile

Company website

Daiwa Office Investment Corporation, a Real Estate Investment Trust, specializes in acquiring and overseeing office properties located within the five central wards of Tokyo.

Industry: REIT - Office
Sector: Real Estate
Headquarters: JP
CEO: Daisuke Eki
Listed since: Oct 19, 2005
Employees: 124

Market position

Day range

Current ¥306,000

¥303,500¥307,000

52-week range

Current ¥306,000

¥303,500¥391,000

Open: ¥307,000
Previous close: ¥309,000
Volume: 1.8K; 0.97× average
Average volume: 1.86K; Average daily volume
Market cap: 286.03B JPY
Beta: 0.14; Market reference 1
50-day average: ¥329,020; -7.00% below average
200-day average: ¥346,227.5; -11.62% below average

Company profile

Daiwa Office Investment Corporation, a Real Estate Investment Trust, specializes in acquiring and overseeing office properties located within the five central wards of Tokyo.

Regular session · JST · Market data may be delayed.

Company profile

Company website

Daiwa Office Investment Corporation, a Real Estate Investment Trust, specializes in acquiring and overseeing office properties located within the five central wards of Tokyo.

Industry: REIT - Office
Sector: Real Estate
Headquarters: JP
CEO: Daisuke Eki
Listed since: Oct 19, 2005
Employees: 124

Market position

Day range

Current ¥306,000

¥303,500¥307,000

52-week range

Current ¥306,000

¥303,500¥391,000

Open: ¥307,000
Previous close: ¥309,000
Volume: 1.8K; 0.97× average
Average volume: 1.86K; Average daily volume
Market cap: 286.03B JPY
Beta: 0.14; Market reference 1
50-day average: ¥329,020; -7.00% below average
200-day average: ¥346,227.5; -11.62% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 537.54B JPY
P/E (TTM): 18.58×
P/B (TTM): 1.18×
P/S (TTM): 7.13×
EV / EBITDA: 26.54×
Earnings yield: 4.10%
Free cash flow yield: 6.23%
Dividend yield: 5.11%

Profitability & efficiency

Gross margin: 38.98%
Operating margin: 44.30%
Net margin: 38.44%
Return on equity: 5.96%
Return on assets: 2.96%
Return on invested capital: 3.41%

Financial health

Debt / equity: 0.98×
Current ratio: 1.21×
Altman Z-score: 1.04
Piotroski F-score: 7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

37.51B JPY+30.30%

Operating income

16.48B JPY+11.01%

Net income

14.45B JPY+7.99%

Financial statements: Income statement
Metric (JPY)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	37.51B JPY	28.79B JPY	28.7B JPY	28.37B JPY	28.94B JPY
Cost of goods sold	23.31B JPY	13.47B JPY	11.55B JPY	10.6B JPY	10.6B JPY
Gross profit	14.19B JPY	15.31B JPY	17.15B JPY	17.77B JPY	18.34B JPY
Selling, general, and administrative	2.62B JPY	195.31M JPY	2.46B JPY	2.51B JPY	2.54B JPY
Operating expenses	−2.29B JPY	467.22M JPY	2.74B JPY	2.78B JPY	2.85B JPY
Interest income	11.02M JPY	202.14M JPY	29K JPY	29K JPY	30K JPY
Interest expense	—	1.12B JPY	868.59M JPY	846.12M JPY	878.3M JPY
Depreciation and amortization	3.77B JPY	3.75B JPY	3.59B JPY	3.58B JPY	3.63B JPY
Operating income	16.48B JPY	14.84B JPY	14.41B JPY	14.99B JPY	15.49B JPY
Net income	14.45B JPY	13.38B JPY	13.29B JPY	14.01B JPY	14.35B JPY

Company facts updated Sep 8, 2026.

Earnings

EPS beat rate: 55%; 6 beats, 5 misses, 0 met estimates
Average EPS surprise: -0.12%; 11 comparable reports
Latest EPS result: 8,629.54; Estimate 8,592.2 · Beat by 0.43%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate

Latest fiscal-year EPS: 15,342; FY2025 · +9.08% year over year
Latest fiscal-year revenue: 37.51B JPY; FY2025 · +30.30% year over year
Next fiscal-year EPS consensus: 15,398.22; FY2026 · 3 analysts
Next fiscal-year revenue consensus: 30B JPY; FY2026 · 3 analysts

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast

Corporate actions

Annual dividends per share

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

¥14,940

2025 complete year+6.7% since 2021

2026 partial: ¥7,630

¥14,000

2,021

¥13,850

2,022

¥13,700

2,023

¥13,700

2,024

¥14,940

2,025

¥7,630

2,026*

* Partial calendar year in the available dividend history.

Corporate action history

Action	Ex-dividend date	Details	Record date	Payment date
DividendUpcoming	Nov 27, 2026	¥7,170Semi-Annual	Nov 30, 2026	Nov 27, 2026
Dividend	May 28, 2026	¥7,630Semi-Annual	May 31, 2026	Aug 14, 2026
Dividend	Nov 27, 2025	¥8,020Semi-Annual	Nov 30, 2025	Feb 13, 2026
Dividend	May 29, 2025	¥6,920Semi-Annual	May 31, 2025	Aug 14, 2025
Dividend	Nov 28, 2024	¥6,850Semi-Annual	Nov 30, 2024	Feb 14, 2025
Dividend	May 30, 2024	¥13,700Semi-Annual	May 31, 2024	Aug 15, 2024

DividendUpcoming

Ex-dividend Nov 27, 2026

¥7,170

Semi-Annual

Record Nov 30, 2026 · Payment Nov 27, 2026

Dividend

Ex-dividend May 28, 2026

¥7,630

Semi-Annual

Record May 31, 2026 · Payment Aug 14, 2026

Dividend

Ex-dividend Nov 27, 2025

¥8,020

Semi-Annual

Record Nov 30, 2025 · Payment Feb 13, 2026

Dividend

Ex-dividend May 29, 2025

¥6,920

Semi-Annual

Record May 31, 2025 · Payment Aug 14, 2025

Dividend

Ex-dividend Nov 28, 2024

¥6,850

Semi-Annual

Record Nov 30, 2024 · Payment Feb 14, 2025

Dividend

Ex-dividend May 30, 2024

¥13,700

Semi-Annual

Record May 31, 2024 · Payment Aug 15, 2024

8976.T peers

8802.T

Mitsubishi Estate Co., Ltd.

¥3,664

-0.79%

8801.T

Mitsui Fudosan Co., Ltd.

¥1,493

-1.13%

8830.T

Sumitomo Realty & Development Co., Ltd.

¥3,211

-0.83%

1925.T

Daiwa House Industry Co., Ltd.

¥4,634

-1.34%

3003.T

Hulic Co., Ltd.

¥1,738

-1.70%

8951.T

Nippon Building Fund Incorporation

¥122,500

-1.37%

ETFs holding 8976.T

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

ETFMarket valueWeightAUMExpense ratioPrice / 1D

Vanguard Total International Stock ETFVXUS15.93M0.00%646.2B USD0.05%$88.41+0.50%

Vanguard FTSE Developed Markets ETFVEA10.93M0.00%315B USD0.03%$73.76+0.44%

iShares Core MSCI EAFE ETFIEFA7.2M0.00%196.63B USD0.07%$101.08+0.13%

Vanguard Global ex-U.S. Real Estate ETFVNQI5.33M0.14%3.9B USD0.12%$45.27+0.18%

iShares MSCI EAFE Small-Cap ETFSCZ3.8M0.03%13.23B USD0.40%$87.57+0.10%

iShares Global REIT ETFREET2.83M0.06%4.93B USD0.14%$27.40-0.45%

iShares Core MSCI Total International Stock ETFIXUS2.63M0.00%61.15B USD0.07%$98.71+0.57%

Vanguard FTSE All-World ex-US ETFVEU2.54M0.00%95.9B USD0.04%$86.41+0.54%

Vanguard Total International Stock ETFVXUS

Market value: 15.93M
Weight: 0.00%
AUM: 646.2B USD
Expense ratio: 0.05%
Price / 1D: $88.41+0.50%

Vanguard FTSE Developed Markets ETFVEA

Market value: 10.93M
Weight: 0.00%
AUM: 315B USD
Expense ratio: 0.03%
Price / 1D: $73.76+0.44%

iShares Core MSCI EAFE ETFIEFA

Market value: 7.2M
Weight: 0.00%
AUM: 196.63B USD
Expense ratio: 0.07%
Price / 1D: $101.08+0.13%

Vanguard Global ex-U.S. Real Estate ETFVNQI

Market value: 5.33M
Weight: 0.14%
AUM: 3.9B USD
Expense ratio: 0.12%
Price / 1D: $45.27+0.18%

iShares MSCI EAFE Small-Cap ETFSCZ

Market value: 3.8M
Weight: 0.03%
AUM: 13.23B USD
Expense ratio: 0.40%
Price / 1D: $87.57+0.10%

iShares Global REIT ETFREET

Market value: 2.83M
Weight: 0.06%
AUM: 4.93B USD
Expense ratio: 0.14%
Price / 1D: $27.40-0.45%

iShares Core MSCI Total International Stock ETFIXUS

Market value: 2.63M
Weight: 0.00%
AUM: 61.15B USD
Expense ratio: 0.07%
Price / 1D: $98.71+0.57%

Vanguard FTSE All-World ex-US ETFVEU

Market value: 2.54M
Weight: 0.00%
AUM: 95.9B USD
Expense ratio: 0.04%
Price / 1D: $86.41+0.54%

Continue in GoAI

Research 8976.T

AI-generated and delayed market data for informational and educational purposes only. Not investment advice.

Daiwa Office Investment Corporation

8976.T company overview

Company profile

Daiwa Office Investment Corporation

8976.T company overview

Company profile

Market position

Financials

Financial snapshot

Valuation & yield

Profitability & efficiency

Financial health

Financial statements

Margin trends

Income trends

Earnings

EPS: actual versus estimate

Revenue: actual versus estimate

Corporate actions

Annual dividends per share

Corporate action history

8976.T peers

ETFs holding 8976.T

Continue in GoAI

8976.T company overview

Company profile

Market position

8976.T company overview

Company profile

8976.T company overview

Company profile

Market position

8976.T company overview

Company profile

Market position

Financials

Financial snapshot

Valuation & yield

Profitability & efficiency

Financial health

Financial statements

Margin trends

Income trends

Earnings

EPS: actual versus estimate

Revenue: actual versus estimate

Corporate actions

Annual dividends per share

Corporate action history

8976.T peers

ETFs holding 8976.T

Continue in GoAI