1. Japan Stocks

  2. •

    Real Estate

  3. •

    REIT - Diversified
Frontier Real Estate Investment Corporation

Frontier Real Estate Investment Corporation

8964.T
Frontier Real Estate Investment CorporationJP flagTokyo Stock Exchange
80,400.00
JPY
-400.00
- -
217.48BMarket Cap
Frontier Real Estate Investment Corporation
8964.T
(Tokyo Stock Exchange)

Recent

price

80,400.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
7,098.53
8,157.38
8,343.35
8,034.95
8,476.75
8,020.36
8,094.13
8,123.76
8,302.24
- -
8,360.48
8,428.19
- -
8,341.44
- -
8,807.21
Revenue per Share
3,353.67
3,707.68
3,885.72
3,770.65
4,159.1
3,810.92
3,781.98
4,033.6
4,095.1
- -
4,222.51
4,346.04
- -
4,380.66
- -
4,358.2
Basic EPS, GAAP
-10,405.91
-1,807.7
-6,097.08
-265.07
2,509.2
-1,654.94
1,988.61
4,116.34
1,049.84
- -
2,783.23
-2,414.84
- -
1,984.17
- -
1,550.83
Free Cash Flow per Basic Share
3,076.24
3,665.62
3,567.11
3,571.04
3,922.4
3,812.94
3,878.04
3,983.73
4,067.11
- -
4,270.69
4,117.24
- -
4,445.59
- -
4,399.25
Dividend per Share
56,111.99
56,113.11
63,700.39
61,891.73
61,126.18
61,048.3
61,087.14
61,138.55
61,165.66
- -
61,942.19
66,356.93
- -
64,404.52
- -
64,470.26
Book Value per Share
57,932.62
57,972.99
63,700.71
61,929.44
61,261.42
61,260.59
61,162.46
61,213.94
61,241.22
- -
61,942.18
65,724.67
- -
63,856.02
- -
64,295
Tangible Book Value per Share
2
2
2
2
2
2
2
2
2
- -
3
3
- -
3
- -
3
Basic Weighted Avg Shares
13,771
15,825
17,499
19,636
21,023
19,890
20,074
20,147
20,590
21,054
21,454
22,157
22,955
22,564
24,450
23,824
Sales/Revenue/Turnover
52.75
51.39
51.85
51.81
53.27
51.73
51.03
52.77
52.76
50.78
53.03
54.15
55.08
55.08
55.89
53.25
Operating Margin (%)
3,249
3,877
4,093
4,506
4,369
4,365
4,314
4,190
4,160
3,929
4,040
4,167
4,001
3,798
3,931
4,006
Depreciation Expense
6,506
7,193
8,150
9,215
10,315
9,451
9,380
10,003
10,156
10,131
10,835
11,425
12,073
11,850
12,932
11,789
Net Income, GAAP
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.01
0.01
0.01
Effective Tax Rate (%)
47.24
45.45
46.57
46.93
49.06
47.52
46.72
49.65
49.33
48.12
50.51
51.57
52.59
52.52
52.89
49.48
Profit Margin (%)
-13,762
-12,825
-4,216
10,079
4,726
-4,097
-2,679
-7,179
-2,769
- -
-2,938
-1,545
- -
-320
603
-1,169
Working Capital
30,520
42,400
50,180
58,500
57,560
64,500
72,400
69,200
82,400
- -
106,400
111,900
- -
115,200
114,700
122,700
LT Debt
112,390
112,468
133,603
151,349
151,935
151,929
151,691
151,812
151,879
- -
158,949
174,447
- -
174,392
175,650
175,580
Total Equity
4.78
4.7
4.77
4.81
5.04
4.55
4.38
4.47
4.5
8.71
8.23
4.18
8.49
8.16
4.49
4.11
Return on Invested Capital (%)
4.86
4.78
4.79
4.78
5.03
4.55
4.32
4.47
4.44
8.69
8.23
4.16
8.46
8.15
4.48
4.12
Return on Capital (%)
6.56
6.61
6.72
6.47
6.81
6.24
6.19
6.6
6.7
13.36
13.63
6.85
13.84
13.6
7.41
6.75
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
- -
- -
-0.04%
Free Cash Flow
-157.46%
-111.85%
-70.51%
Net Income, GAAP
2.37%
1.91%
-8.84%
Sales/Revenue/Turnover
1.86%
2.19%
-2.56%
Total Cash Common Dividend
2.39%
1.77%
1.95%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
22,564
2024
- -
- -
- -
- -
24,450
2025
- -
- -
- -
- -
23,824

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4,380.66
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
4,358.2

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4,445.59
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
4,399.25
Similar Companies
Argosy Property Limited (IGPYF)
PS Business Parks, Inc. (PSB)
Gladstone Commercial Corporation (GOODO)
Reit 1 Ltd (RETDF)
Xior Student Housing N.V. (XIOR.BR)
MIRAI Corporation (3476.T)
Business
Frontier Real Estate Investment Corporation (8964.T) operates as a Japan real estate investment trust specializing in retail facilities; it acquires, owns and manages a diversified portfolio of commercial properties including shopping centers, large-scale retail facilities, outlet malls, supermarkets and urban retail buildings located primarily in metropolitan areas and regional cities across Japan. The company invests in properties such as AEON MALL Nagoya Dome-mae, AEON Style Shinagawa Seaside, You Me Town Hiroshima, Mitsui Outlet Park Iruma, Mitsui Shopping Park LaLaport Iwata, Mitsui Shopping Park LaLaport Shin-Misato, Mitsui Shopping Park LaLaport Izumi, Summit Store outlets, Costco Wholesale land interests, Kohnan stores, Don Quijote Fukuoka Tenjin, GINZA GLASSE, Ikebukuro Square, Shinsaibashi Square, SAKAE GLOBE and recent additions Yaoko Sagamihara Hikarigaoka Store and Yaoko Nishiomiya Store, totaling 41 properties with an aggregate acquisition price of 364,788 million yen as of the latest portfolio update. Sponsored by Mitsui Fudosan Co., Ltd. since March 2008 following an initial sponsorship by Japan Tobacco, Frontier Real Estate Investment Corporation maintains its headquarters in Tokyo and listed on the Tokyo Stock Exchange's J-REIT market in August 2004, with asset management provided by Mitsui Fudosan Frontier REIT Management Inc. Recent developments include the extension of a 2 billion yen commitment line with Mizuho Trust & Banking Co., Ltd. by one year to December 13, 2029 announced in November 2025; acquisitions of Yaoko Sagamihara Hikarigaoka Store in May 2024, Yaoko Nishiomiya Store in July 2024, Shin-Kawasaki Square in December 2023 and Mitsui Shopping Park LaLaport Izumi in October 2023, reflecting ongoing portfolio expansion in suburban retail assets. The company targets stable earnings and steady asset growth over the medium to long term through Mitsui Fudosan's development pipeline and operational expertise, serving major tenants like AEON Retail, Mitsui Fudosan, Summit Inc., Costco Wholesale Japan and Kohnan Shoji.