1. Japan Stocks

  2. •

    Real Estate

  3. •

    Real Estate - Services
Ichigo Inc.

Ichigo Inc.

ICHIF
Ichigo Inc.US flagOther OTC
2.40
USD
- -
- -
947.45MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
76.25
85.75
99.44
217.52
116.05
169.21
179.86
127.88
121.46
147.96
183.77
191.84
- -
184.64
Basic EPS, GAAP
9.83
13.58
25.86
29.65
28.12
31.14
16.88
10.48
13.81
20.44
26.89
34.86
- -
18.05
Free Cash Flow per Basic Share
-13.65
-90.53
-102.65
19.57
11.48
11.94
0.18
-5.11
4.15
-22.35
-37.52
-77.07
- -
-32.27
Dividend per Share
0.97
1.09
1.29
2.99
5.04
6.02
7.03
6.87
6.89
6.95
7.89
8.94
- -
8.92
Book Value per Share
81.1
87.75
112.1
138.36
162.59
189.48
202.57
208.48
220.16
237.55
261.75
248.69
- -
- -
Tangible Book Value per Share
104.6
112.19
139.64
162.24
182.07
204.3
204.09
221.33
231.77
243.35
252.69
276.26
- -
- -
Basic Weighted Avg Shares
460
498
500
502
498
494
486
480
469
460
450
436
402
437
Sales/Revenue/Turnover
35,101
42,705
49,699
109,253
57,846
83,540
87,360
61,368
56,934
68,093
82,747
83,576
- -
80,623
Operating Margin (%)
11.15
19.18
39.9
19.94
37.89
31.46
31.73
25.17
27.55
28.33
23.91
30.44
- -
22.17
Depreciation Expense
443
704
931
919
1,126
1,950
2,804
4,918
5,793
5,516
4,956
4,951
- -
3,709
Net Income, GAAP
4,526
6,761
12,925
14,894
14,018
15,373
8,201
5,027
6,473
9,409
12,108
15,187
- -
7,883
Effective Tax Rate (%)
- -
4.75
6.85
26.35
29.45
31.77
44.76
33.69
30.23
32.16
31.32
29.24
- -
31.98
Profit Margin (%)
12.89
15.83
26.01
13.63
24.23
18.4
9.39
8.19
11.37
13.82
14.63
18.17
- -
9.78
Working Capital
78,173
127,470
192,526
202,796
215,365
195,685
93,328
98,397
101,937
108,857
101,584
166,855
- -
- -
LT Debt
50,304
96,413
150,602
160,555
176,474
183,175
196,721
203,742
195,481
195,875
185,614
243,542
- -
- -
Total Equity
50,841
58,375
72,165
83,442
92,724
102,858
101,607
110,254
112,191
114,391
116,278
122,704
- -
- -
Return on Invested Capital (%)
- -
5.85
9.29
6.47
5.73
6.14
4.93
3.16
3.34
4.03
4.01
4.85
- -
6.91
Return on Capital (%)
- -
6.22
7.5
6.61
5.98
5.9
2.82
2.04
2.41
3.26
3.9
4.61
- -
5.07
Return on Common Equity (%)
14.28
16.69
25.92
23.73
18.62
17.61
8.55
5.07
6.37
8.85
10.66
13.43
- -
13.67

Capital Structure

FRC

•

in mil. unless spec.
May'25
Aug'25
Nov'25
ST Debt
32,978
28,653
- -
LT Borrowings
213,719
220,511
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
438
438
- -
Market Capitalization
215,972
198,377
137,375

Working Capital

FRC

•

in mil. unless spec.
May'25
Aug'25
Nov'25
Total Current Assets
172,321
166,495
- -
Cash, Cash Equivalents & STI
59,961
38,726
- -
Accounts Receivable, Net
2,981
2,877
- -
Inventories
104,512
120,680
- -
Total Current Liabilities
40,298
35,941
- -
Payables & Accruals
- -
- -
- -
ST Debt
32,978
28,653
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
- -
Free Cash Flow
- -
- -
- -
Net Income, GAAP
- -
- -
- -
Sales/Revenue/Turnover
- -
- -
- -
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,152
16,344
11,923
44,328
82,747
2025
25,096
11,199
- -
- -
83,576
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.21
15.55
2.42
- -
26.89
2025
8.18
4.05
- -
- -
34.86
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7.72
0.12
- -
- -
7.89
2025
8.76
0.11
- -
- -
8.94
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Takuma Hasegawa
Full Time Employees
552
Sector
Real Estate
Industry
Real Estate - Services
Address
The Imperial Hotel Tower Tokyo Japan 100-0011
IPO Date
Apr 11, 2013
Website
ichigo.gr.jp
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Business
Ichigo Inc. (TSE: 2337) operates as a diversified Japanese investment company focused on real estate, asset management, and green infrastructure. The company provides asset management services for real estate investment trusts (REITs) including Ichigo Office REIT Investment Corporation and Ichigo Green Infrastructure Investment Corporation; hotel and resort operations under the Hotel Folk brand; real estate brokerage, leasing, and development; renewable energy projects such as solar power generation; and venture capital investments through Ichigo Trust. Ichigo targets institutional and retail investors, corporate clients, and end-users in the real estate, hospitality, and sustainable energy sectors across Japan, with primary operations in Tokyo and regional presence nationwide. Founded in 1998, Ichigo is headquartered in Tokyo, Japan, and maintains subsidiaries like Ichigo Hotel Management Co., Ltd. and Ichigo Green Partners Co., Ltd. In recent developments, Ichigo expanded its green infrastructure segment through the listing of Ichigo Green Infrastructure Investment Corporation on the Tokyo Stock Exchange in 2022 and continued growth in solar and biomass energy projects; acquired additional hotel properties and real estate assets to bolster its hospitality and development pipeline in 2024-2025; formed strategic alliances for renewable energy development, including partnerships with local governments for large-scale solar farms; and reported record asset under management surpassing 1 trillion yen amid Japan's push for sustainable investments. These initiatives reflect Ichigo's strategic shift toward ESG-focused growth, complementing its core real estate operations with high-growth alternative assets. The company continues to pursue opportunistic acquisitions and fundraisings to capitalize on market recovery post-pandemic.

Company News

APIChat

  • seekingalpha.com

    Ichigo Inc. (ICHIF) Q4 2026 Earnings Call Prepared Remarks Transcript

  • seekingalpha.com

    Ichigo Inc. (ICHIF) Q3 2026 Earnings Call Transcript

  • seekingalpha.com

    Ichigo Inc. (ICHIF) Q2 2026 Earnings Call Transcript