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    REIT - Office
Nippon Building Fund Incorporation

Nippon Building Fund Incorporation

NBFJF
Nippon Building Fund IncorporationUS flagOther OTC
842.92
USD
- -
- -
7.43BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
Revenue per Share
5,365.77
9,860.12
9,806.52
10,130.43
11,123.98
10,496.2
11,000.46
11,039.78
11,532.95
11,725.24
11,097.11
11,883.05
11,630.64
Basic EPS, GAAP
1,918.4
3,072.54
3,112.25
3,587.62
3,936.53
4,040.98
4,382.08
4,505.3
5,155
5,384.28
4,567.81
5,409.9
4,994.92
Free Cash Flow per Basic Share
5,198.38
5,302.8
3,302.06
884.13
9,294.81
1,211.98
1,146
-42.14
-21,056.85
-2,978.01
3,095.54
6,521.51
-2,104.35
Dividend per Share
1,684.66
3,260.14
3,093.64
3,286.19
3,598.4
3,803.18
4,168.99
4,267.68
4,477.38
5,003.76
4,599.97
4,915.87
4,914.51
Book Value per Share
74,788.32
75,066.7
75,085.35
75,303.96
75,610.13
75,587.06
75,732.7
90,600.41
79,289.06
81,635.86
81,430.2
81,800.95
82,817.6
Tangible Book Value per Share
69,852.49
70,580
70,594.15
70,885.1
71,228.05
71,470.65
71,689.74
86,683.51
76,034.18
78,983.51
78,844.62
79,342.24
82,808.13
Basic Weighted Avg Shares
7
7
7
7
7
7
7
7
8
8
9
9
9
Sales/Revenue/Turnover
37,135
69,612
69,234
71,521
78,535
74,103
77,663
80,339
96,549
99,583
94,380
101,065
99,766
Operating Margin (%)
44.16
39.14
39.07
41.41
40.32
42.92
43.33
44.15
47.42
48.61
43.87
48.2
46.4
Depreciation Expense
6,930
14,326
14,256
14,245
14,438
14,164
14,444
14,349
14,824
15,646
15,847
15,783
15,522
Net Income, GAAP
13,277
21,692
21,972
25,329
27,792
28,529
30,938
32,786
43,155
45,729
38,849
46,011
42,846
Effective Tax Rate (%)
0.01
0.01
0.01
0.01
- -
0.01
0.01
- -
- -
- -
- -
- -
- -
Profit Margin (%)
35.75
31.16
31.74
35.41
35.39
38.5
39.84
40.81
44.7
45.92
41.16
45.53
42.95
Working Capital
-22,703
-49,256
-59,892
-56,686
-27,801
-53,968
-52,060
74,798
-28,773
-56,990
-51,020
-45,148
-54,627
LT Debt
399,125
370,375
355,625
373,875
365,125
357,000
377,500
414,500
509,500
517,500
536,500
528,300
558,900
Total Equity
519,198
534,156
534,288
536,413
538,795
540,468
541,975
666,621
672,291
706,521
706,247
710,444
729,182
Return on Invested Capital (%)
1.81
2.82
2.82
3.08
3.29
3.32
3.48
3.37
3.9
3.86
3.2
3.75
3.48
Return on Capital (%)
1.81
2.82
2.83
3.09
3.31
3.34
3.5
3.37
3.92
3.88
3.23
3.79
3.53
Return on Common Equity (%)
2.76
4.14
4.15
4.77
5.22
5.35
5.79
5.49
6.52
6.74
5.61
6.63
6.09

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
3.36%
1.83%
2.64%
Free Cash Flow
5,775.87%
11,415.36%
-132.54%
Net Income, GAAP
7.62%
6.82%
-6.88%
Sales/Revenue/Turnover
3.96%
4.78%
-1.29%
Total Cash Common Dividend
7.04%
6.77%
0.83%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
94,380
2024
- -
- -
- -
- -
101,065
2025
- -
- -
- -
- -
99,766

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4,567.81
2024
- -
- -
- -
- -
5,409.9
2025
- -
- -
- -
- -
4,994.92

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
4,599.97
2024
- -
- -
- -
- -
4,915.87
2025
- -
- -
- -
- -
4,914.51

Company Description

APIChat
CEO
Daisuke Yamashita
Sector
Real Estate
Industry
REIT - Office
Address
Muromachi Furukawa Mitsui Building Tokyo Japan 103-0022
IPO Date
Feb 22, 2013
Website
nbf-m.com
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Business
Nippon Building Fund Inc. (NBF) operates as Japan's largest office-specialized J-REIT, acquiring, owning, managing and leasing a portfolio of 70 primarily large office buildings valued at 1,519.0 billion yen with a 98.6% occupancy rate; its properties consist mainly of modern corporate offices located in central Tokyo's five central wards and surrounding Greater Tokyo areas, with additional investments in regional urban centers including Hokkaido, Fukushima, Niigata, Aichi, Hiroshima and Osaka; rental revenue derives predominantly from tenants in service, electrical equipment and information-communications sectors. Sponsored primarily by Mitsui Fudosan Co., Ltd. and externally managed by Nippon Building Fund Management Ltd., NBF targets medium- to long-term asset growth and stable distributions through conservative financial strategies, including an LTV ratio of 36-46%, long-term fixed-rate borrowings exceeding 80% and top credit ratings of AA+ from JCR, AA from R&I and A+ from S&P. Founded on March 16, 2001 and headquartered at Muromachi Furukawa Mitsui Building, 16th Floor, 3-1 Nihonbashi Muromachi 2-chome, Chuo-ku, Tokyo 103-0022, Japan, the company listed on the Tokyo Stock Exchange Real Estate Investment Trust Securities Market on September 10, 2001 under ticker 8951 (OTC: NBFJF). Recent developments include a five-for-one investment unit split effective October 1, 2024; acquisition of Frontier Musashikosugi N Building and S Building for 29.0 billion yen completed July 2, 2025; acquisition of CONNECT SAPPORO (renamed NBF CONNECT SAPPORO on December 1, 2025) for 13,800 million yen and disposition of NBF Sapporo Minami Nijo Bldg. for 1,900 million yen announced September 30, 2025, yielding a 217 million yen profit; and multiple debt financings in November 2025 and July 2025 to support portfolio optimization.

Company News

APIChat

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