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    REIT - Retail
Nomura Real Estate Master Fund, Inc.

Nomura Real Estate Master Fund, Inc.

3462.T
Nomura Real Estate Master Fund, Inc.JP flagTokyo Stock Exchange
148,700.00
JPY
-1,100.00
- -
690.91BMarket Cap
Nomura Real Estate Master Fund, Inc.
3462.T
(Tokyo Stock Exchange)

Recent

price

148,700.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
- -
11,193.87
12,267.95
- -
17,416.3
16,215.62
16,246.74
15,973.34
16,029.83
16,233.33
17,736.6
18,094.91
18,687.26
Revenue per Share
- -
5,369.01
4,706.89
- -
5,226.03
5,038.54
5,243.38
5,357.32
5,397.6
5,487.96
6,509.89
6,566.05
6,906.48
Basic EPS, GAAP
- -
2,685.5
-11,123.51
- -
5,502.13
178.18
-5,317.04
-1,226.3
4,101.36
2,630.68
7,089.86
7,382.18
7,987.21
Free Cash Flow per Basic Share
- -
3,638.09
4,938.35
- -
5,331.84
5,709.43
5,405.06
6,109.91
6,645.62
6,531.29
6,611.28
6,884.97
7,006.95
Dividend per Share
- -
99,204.48
98,971.37
- -
42,391.8
45,514.85
51,312.64
55,290.16
54,616.16
54,842.12
55,531.01
56,308.87
56,552.16
Book Value per Share
95,203.84
96,897.69
96,663.1
- -
108,043.34
111,003.36
114,180.34
114,948.65
113,631.3
112,826.87
113,081.38
113,303.27
113,656.62
Tangible Book Value per Share
2
2
2
- -
4
4
4
5
5
5
5
5
5
Basic Weighted Avg Shares
- -
18,641
20,429
- -
72,855
68,951
72,046
74,505
75,584
76,543
83,632
84,457
86,828
Sales/Revenue/Turnover
- -
53.55
44.23
- -
37.03
38.43
39.31
40.11
39.84
39.43
41.9
41.58
42.5
Operating Margin (%)
- -
3,036
3,447
- -
14,865
14,887
15,296
15,769
16,315
16,594
16,699
16,783
16,825
Depreciation Expense
- -
8,941
7,838
- -
21,861
21,424
23,252
24,988
25,451
25,877
30,695
30,647
32,090
Net Income, GAAP
- -
0.02
0.03
- -
0.01
0.01
0.01
0.03
0.01
0.02
0.01
- -
- -
Effective Tax Rate (%)
- -
47.96
38.37
- -
30.01
31.07
32.27
33.54
33.67
33.81
36.7
36.29
36.96
Profit Margin (%)
2,233
14,612
11,075
8,552
2,768
2,460
-6,137
4,877
-2,461
-29,761
-9,444
-36,114
-24,944
Working Capital
61,893
80,307
102,122
351,976
429,984
433,495
439,389
456,752
462,711
453,029
471,446
449,930
456,626
LT Debt
162,372
165,201
164,813
479,311
556,649
571,837
600,911
625,506
619,901
615,128
614,690
606,202
603,146
Total Equity
- -
4.1
3.47
- -
2.79
2.5
2.6
2.65
2.64
2.66
3.09
3.1
3.27
Return on Invested Capital (%)
- -
6.04
3.39
- -
4.19
3.77
3.83
3.83
3.76
3.79
4.38
4.37
4.6
Return on Capital (%)
- -
10.82
4.75
- -
12.47
11.55
11.04
10.3
9.88
10.03
11.8
11.68
12.21
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

•

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
21.52%
-0.72%
-0.5%
Free Cash Flow
- -
-58.73%
7.71%
Net Income, GAAP
- -
5.34%
4.71%
Sales/Revenue/Turnover
- -
3.16%
2.81%
Total Cash Common Dividend
- -
2.77%
1.31%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
84,457
2025
- -
- -
- -
- -
86,828
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
6,566.05
2025
- -
- -
- -
- -
6,906.48
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
6,884.97
2025
- -
- -
- -
- -
7,006.95
2026
- -
- -
- -
- -
- -
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Business
Nomura Real Estate Master Fund, Inc. (3462.T) is a diversified real estate investment trust (REIT) that invests in income-generating properties including office buildings, retail facilities, residential properties, logistics facilities, hotels and other commercial assets; its portfolio comprises 285 properties primarily concentrated in the Greater Tokyo Area with total acquisition costs of approximately JPY 1,099 billion as of September 2025 and an occupancy rate of 99.0% as of October 2025. Established on October 1, 2015 through a consolidation-type merger of the former Nomura Real Estate Master Fund Corporation, Nomura Real Estate Office Fund, Inc. and Nomura Real Estate Residential Fund, Inc., and listed on the Tokyo Stock Exchange the following day, the REIT is headquartered at 1-1-1 Shibaura, Minato-ku, Tokyo and externally managed by Nomura Real Estate Asset Management Co., Ltd., a wholly-owned subsidiary of Nomura Real Estate Holdings, Inc. The fund targets stable medium- to long-term income and sustainable asset growth for unitholders through a diversified strategy leveraging the Nomura Real Estate Group's leasing value chain, rigorous asset management and strategic portfolio optimization focused on urban areas with strong tenant demand. Recent developments include the acquisition of the hotel property &HOTEL HAKATA in Fukuoka for JPY 3.8 billion in June 2025, expanding its hotel portfolio to eight properties valued at JPY 28.3 billion or 2.6% of total assets; the acquisition of H1O Nihonbashi Kobunecho office property in March 2025; the disposition of four residential properties including PROUD FLAT Asakusa Tresage and PRIME URBAN Senzoku totaling JPY 2.7 billion in March-April 2025 to reallocate capital to higher-yield assets; issuance of investment corporation bonds including green bonds and securing a JPY 40 billion commitment line agreement in 2025; and ongoing debt financing activities such as green loans to support portfolio growth amid steady increases in assets under management reported in Nomura Real Estate Holdings' fiscal year ended March 31, 2025.