1. Japan Stocks

  2. •

    Finance

  3. •

    Real estate investment trusts
Invincible Investment Corp.

Invincible Investment Corp.

322.00
EUR
+4.00
(+1.26%)
2.53BMarket Cap
Feb 25Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4,047.42
4,068.29
4,968.7
5,439.86
5,315.23
7,810.52
4,761.37
2,911.48
2,003.09
3,216.39
5,412.84
6,106.25
1,292,639.43
- -
Basic EPS, GAAP
1,380.18
1,803.46
2,754.18
2,980.91
3,106.68
5,591.51
2,051.46
171.83
-424.07
998.96
3,108.36
3,666.9
747,557.52
- -
Free Cash Flow per Basic Share
-18,334.07
-14,459.79
-21,399.03
-14,024.31
-6,788.94
-2,830
-13,099.42
1,425.57
1,923.38
1,782.05
-5,238.6
-9,520.72
-14,365.89
- -
Dividend per Share
600.04
1,459.04
2,283.41
2,548.67
2,723.1
3,133.7
3,343.2
1,794.13
182.49
331.94
2,180.73
3,133.45
713,582.01
- -
Book Value per Share
23,004.73
28,731.13
35,762.13
37,828.84
39,063.2
41,693.83
- -
40,946
40,370.15
41,057.51
43,090.37
45,954.45
46,372.77
46,372.77
Tangible Book Value per Share
23,004.7
26,903.52
33,357.05
34,317.84
35,531.13
37,773.16
- -
36,810.6
36,247.51
36,947.64
38,929.18
40,670.78
41,082.33
41,082.33
Basic Weighted Avg Shares
2
3
4
4
5
6
6
6
6
6
6
8
- -
- -
Sales/Revenue/Turnover
8,386
11,839
17,670
21,908
27,556
45,927
27,997
17,751
12,213
19,610
34,734
46,691
53,699
- -
Operating Margin (%)
59.67
60.65
62.3
62
65.13
76.3
51.28
17.96
-0.4
42.69
66.06
69.37
67.5
- -
Depreciation Expense
1,365
2,263
3,742
4,849
5,812
6,926
7,757
7,992
7,740
7,522
7,965
9,332
10,845
- -
Net Income, GAAP
2,860
5,248
9,794
12,005
16,106
32,879
12,063
1,048
-2,585
6,090
19,946
28,039
31,055
- -
Effective Tax Rate (%)
0.04
0.02
0.01
0.01
0.01
- -
0.01
0.12
- -
0.02
0.01
- -
- -
- -
Profit Margin (%)
34.1
44.33
55.43
54.8
58.45
71.59
43.09
5.9
-21.17
31.06
57.43
60.05
57.83
- -
Working Capital
13,455
14,161
14,602
-9,474
-42,449
-18,081
- -
-62,539
-100,018
-130,993
-30,282
11,803
-7,362
-7,362
LT Debt
66,042
90,619
142,419
154,936
174,029
206,358
- -
172,140
124,492
80,877
194,793
279,173
290,504
290,504
Total Equity
61,392
91,758
131,455
181,320
221,365
254,201
- -
249,641
246,130
250,321
290,305
351,389
354,587
354,587
Return on Invested Capital (%)
4.86
4.6
4.81
4.22
4.38
7.27
- -
- -
- -
1.7
4.37
5.25
5.26
- -
Return on Capital (%)
3.5
3.8
4.57
4
4.19
7.09
- -
- -
- -
1.48
4.03
4.96
5.07
- -
Return on Common Equity (%)
5.88
6.85
8.78
7.68
8
13.83
- -
- -
-1.04
2.45
7.38
8.74
8.8
- -

Capital Structure

JPY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
44,024
30,042
58,150
LT Borrowings
279,173
288,412
290,504
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8
8
8
Market Capitalization
504,284
472,415
466,470

Working Capital

JPY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
58,519
54,248
53,666
Cash, Cash Equivalents & STI
31,964
29,950
24,638
Accounts Receivable, Net
7,508
7,723
9,270
Inventories
- -
- -
- -
Total Current Liabilities
46,716
33,096
61,028
Payables & Accruals
- -
- -
- -
ST Debt
44,024
30,042
58,150
Deferred Revenue
- -
- -
- -

Growth Rates

JPY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
7.64%
0.91%
Free Cash Flow
-22.9%
-72.89%
-99.18%
Net Income, GAAP
-39.73%
-80.7%
10.76%
Sales/Revenue/Turnover
19.67%
31.19%
15.01%
Total Cash Common Dividend
73.53%
135.69%
23.72%

Semi-annual Revenue

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
34,734
2024
- -
- -
46,691
2025
- -
- -
53,699

Semi-annual Earnings Per Share

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
3,108.36
2024
- -
- -
3,666.9
2025
- -
- -
747,557.52

Semi-annual Dividends Per Share

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
2,180.73
2024
- -
- -
3,133.45
2025
- -
- -
713,582.01

Company Description

Company Profile APIChatGPT
CEO
Naoki Fukuda
Sector
Finance
Industry
Real estate investment trusts
Address
Roppongi Hills Mori Tower Tokyo TY Japan 103-0027
IPO Date
May 17, 2004
Website
invincible-inv.co.jp
Similar Companies
Realty Income Corporation (NYSE:O)
Emlak Konut Gayrimenkul Yatirim Ortakligi A.S. (BIST:EKGYO)
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR)
AGNC Investment Corp. (NASDAQ:AGNC)
Prologis, Inc. (NYSE:PLD)
American Tower Corporation (REIT) (NYSE:AMT)
Business
Invincible Investment Corporation (TSE:8963), a Tokyo-listed real estate investment trust established in 2002 and headquartered at Roppongi Hills Mori Tower in Minato-ku, Tokyo, primarily acquires, owns and manages a diversified portfolio of hotel properties across Japan, supplemented by select residential and retail assets; its hotel holdings encompass over 110 limited-service, full-service and resort facilities including brands such as Hotel MyStays, Flexstay Inn, Kamenoi Hotel, Art Hotel and others, located in key regions from Tokyo and Greater Tokyo wards to Kansai, Chubu, Kyushu, Hokkaido and beyond, alongside a smaller portfolio of residential apartments in urban areas and one retail property; the portfolio also includes two overseas resort hotels in the Cayman Islands and a preferred equity interest in Sheraton Grande Tokyo Bay Hotel. Managed by Consonant Investment Management Co., Ltd., a Fortress Investment Group affiliate, the company targets stable rental income from hotel operators like MyStays and Iconia Hospitality K.K., with geographic operations spanning Japan nationwide and select international assets. In recent developments, Invincible Investment Corporation completed the acquisition of ten new hotels in August 2025 for JPY34.3 billion, including Irago Ocean Resort, Kirishima Kokusai Hotel and others across Aichi, Kagoshima and additional prefectures, expanding its hotel portfolio from 104 to 114 properties; it conducted a global public offering of new investment units in July 2024 raising JPY882 million to partially fund prior hotel acquisitions, alongside multiple debt financings including green loans and interest rate swaps in 2025; further changes include shelf registration for investment corporation bonds in July 2025, asset management organization updates and certifications such as CASBEE for Real Estate and DBJ Green Building in May 2025.