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    Real Estate

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    REIT - Office
Ichigo Office REIT Investment Corporation

Ichigo Office REIT Investment Corporation

8975.T
Ichigo Office REIT Investment CorporationJP flagTokyo Stock Exchange
93,700.00
JPY
-800.00
- -
143.15BMarket Cap
Ichigo Office REIT Investment Corporation
8975.T
(Tokyo Stock Exchange)

Recent

price

93,700.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
FRC
6,206.52
3,385.89
10,196.81
9,892.27
9,096.58
8,925.26
9,389.1
9,713.36
10,895.13
10,935
10,523.05
10,287.67
10,887.28
13,410.86
11,295.13
12,683.87
Revenue per Share
1,636.82
1,005.45
19,651.45
2,202.03
2,670.37
2,025.96
3,371.29
3,531.75
4,844.01
4,755.49
4,495.75
4,177.74
4,421.94
6,268.06
4,836.82
6,076.59
Basic EPS, GAAP
-13,494.53
1,379.53
4,141.17
-5,263.06
6,307.53
-39,811.2
-13,236.08
596.51
3,533.36
4,720.37
5,243.67
2,208.21
3,003.8
3,686.45
-3,446.84
10,240.36
Free Cash Flow per Basic Share
1,844.47
897.83
2,171.89
2,750.48
2,962.85
2,691.73
3,323.05
3,826.16
3,892.8
4,508.89
4,311.72
4,388.67
4,692.77
6,274.71
4,264.14
6,086.96
Dividend per Share
65,219.75
32,609.87
36,769.47
24,788.36
26,732.8
48,022.9
47,814.25
45,991.98
46,112.12
46,485.87
46,328.27
46,834.09
46,701.8
46,764.56
49,159.33
48,991.72
Book Value per Share
66,118.71
33,099.53
60,547.15
63,501.96
55,644.82
70,298.1
66,616.31
63,478.36
64,428.37
64,914.86
65,097.61
64,708.2
64,437.14
64,429.21
66,550.75
65,204.71
Tangible Book Value per Share
- -
- -
1
1
1
1
1
2
2
2
2
2
2
2
2
2
Basic Weighted Avg Shares
1,421
1,550
8,594
8,720
9,253
11,269
13,773
14,884
16,694
16,756
16,124
15,569
16,476
20,296
17,291
19,507
Sales/Revenue/Turnover
50.47
94.78
39.57
49.66
46.76
46.33
48.02
46.36
53.5
52.96
52.55
50.65
49.84
54.71
52.54
57.24
Operating Margin (%)
195
211
1,024
1,061
1,198
1,499
1,758
1,852
1,772
1,684
1,677
1,758
1,804
1,923
1,963
1,974
Depreciation Expense
375
460
16,563
1,941
2,716
2,558
4,945
5,412
7,422
7,287
6,889
6,322
6,692
9,486
7,405
9,346
Net Income, GAAP
0.53
0.45
0.01
0.06
0.04
0.05
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.01
0.02
0.01
Effective Tax Rate (%)
26.37
29.7
192.72
22.26
29.36
22.7
35.91
36.36
44.46
43.49
42.72
40.61
40.62
46.74
42.82
47.91
Profit Margin (%)
1,520
1,603
789
6,604
-7,924
14,523
16,692
4,937
6,035
2,833
3,770
1,099
1,769
10,516
5,705
5,005
Working Capital
9,243
9,194
46,536
57,041
38,591
81,111
96,081
89,720
91,330
89,963
89,404
91,961
95,841
107,815
110,917
105,980
LT Debt
15,135
15,153
51,031
55,975
61,098
93,255
102,214
101,762
103,217
103,963
104,243
102,422
102,012
102,000
106,375
104,777
Total Equity
3.15
5.98
5.22
3.91
3.72
3.58
3.54
3.41
4.31
4.21
3.98
3.69
3.83
5.14
4.06
4.86
Return on Invested Capital (%)
2.8
3.08
32.72
3.67
4.53
3.07
3.85
3.79
4.84
4.7
4.41
4.02
4.15
5.66
4.43
5.31
Return on Capital (%)
2.51
3.08
72.14
7.35
11.08
5.83
7.56
7.7
10.52
10.27
9.69
8.91
9.46
13.41
10.14
12.41
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
1.22%
0.13%
-1.5%
Free Cash Flow
-22.18%
-118.54%
-398.47%
Net Income, GAAP
17.63%
8.73%
26.21%
Sales/Revenue/Turnover
6.26%
4.72%
12.82%
Total Cash Common Dividend
13.02%
10.66%
43.41%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
20,296
2024
- -
- -
- -
- -
17,291
2025
- -
- -
- -
- -
19,507

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
6,268.06
2024
- -
- -
- -
- -
4,836.82
2025
- -
- -
- -
- -
6,076.59

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
6,274.71
2024
- -
- -
- -
- -
4,264.14
2025
- -
- -
- -
- -
6,086.96
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Business
Ichigo Office REIT Investment Corporation (8975.T) is a Japanese real estate investment trust (REIT) that owns, manages, and leases a diversified portfolio of office properties primarily in major urban areas of Japan. The company invests in high-quality office buildings, commercial facilities, and mixed-use properties; offers asset management services through its sponsor Ichigo Inc.; and focuses on stable rental income generation via long-term leases to corporate tenants in sectors such as finance, technology, and professional services. Founded in 2008 and listed on the Tokyo Stock Exchange, Ichigo Office REIT is externally managed from its headquarters in Tokyo, Japan, with geographic operations concentrated in key regions including Greater Tokyo, Osaka, and Nagoya. The REIT's portfolio comprises approximately 50 properties valued at over 200 billion yen, emphasizing premium-grade offices with modern amenities, energy-efficient designs, and strategic locations near transportation hubs; it targets institutional investors seeking yield from Japan's stable commercial real estate market. Services include proactive asset enhancement through renovations, tenant curation for high occupancy rates above 95%, and risk mitigation via diversification across submarkets. In recent developments, Ichigo Office REIT completed a significant portfolio acquisition in 2024, expanding its holdings with premium Tokyo office assets to bolster scale and income stability; announced strategic partnerships with Ichigo Inc. for joint ventures in urban redevelopment projects in early 2025; and launched initiatives for ESG-compliant property upgrades amid Japan's tightening sustainability regulations. These moves follow a 2023 refinancing round that secured favorable debt terms, enabling accelerated growth without diluting unitholder value; the company also reorganized its governance structure in late 2024 to enhance transparency and align with global REIT standards.