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KDX Realty Investment Corporation

KDX Realty Investment Corporation

140,100.00
JPY
+1,200.00
(+0.86%)
688.28BMarket Cap
Jun 22Next Earn
KDX Realty Investment Corporation
TSE:8972
(Tokyo Stock Exchange)

Recent

price

140,100.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
JPY
17,583
7,494.83
8,420.66
8,587.72
8,747.85
8,684.95
8,599.27
8,934.8
9,111.51
8,821.31
9,330.93
9,139.19
9,405.24
11,643.59
19,135.76
19,490.11
- -
Revenue per Share
5,538.95
2,339.39
2,421.08
2,544.74
2,370.36
3,014.77
2,907.31
2,883.38
3,596.19
3,507.26
3,934.01
3,770.67
3,786.9
4,725.56
12,108.8
8,375.57
- -
Basic EPS, GAAP
-6,208.69
-7,002.73
-13,896.29
-1,808.53
-21,161.42
-1,258.1
661.84
5,178.36
-4,391.97
2,769.97
-845.01
5,403.14
-338.81
6,875.41
-4,447.08
11,312.53
- -
Free Cash Flow per Basic Share
4,996.09
2,116.18
2,368.29
2,373.85
2,155.09
2,546.1
2,625.42
2,886.97
3,105.84
3,396.93
3,506.04
3,845.89
3,509.02
4,333.17
7,221.65
8,114.41
- -
Dividend per Share
145,292.63
65,552.46
65,603.54
65,774.4
63,675.94
65,424.37
65,705.51
65,713.54
66,892.72
66,881.78
67,286.96
67,251.89
67,643.27
136,442.22
155,874.26
156,542.18
156,542.18
Book Value per Share
144,986.08
65,395.32
65,447.18
65,618.82
63,550.99
65,315.32
65,595.35
65,515.2
66,706.12
66,695.96
67,101.95
67,067.46
67,457.44
136,071.5
153,995.09
154,644.98
154,644.98
Tangible Book Value per Share
1
2
2
2
3
3
3
3
3
3
3
3
3
3
4
4
4
Basic Weighted Avg Shares
16,426
17,181
19,304
19,686
23,823
27,871
27,854
28,941
30,244
30,240
31,987
31,330
32,157
33,946
78,061
78,724
- -
Sales/Revenue/Turnover
46.11
47.35
44.57
43.9
39.09
44.77
42.69
39.94
46.28
46.3
48.38
47.4
46.05
46.39
51.86
49.81
- -
Operating Margin (%)
2,918
2,850
3,200
3,359
3,849
4,440
4,506
4,584
4,655
4,791
4,995
5,116
5,220
5,192
9,869
10,143
- -
Depreciation Expense
5,174
5,363
5,550
5,834
6,455
9,675
9,417
9,340
11,937
12,023
13,486
12,926
12,948
13,777
49,396
33,831
- -
Net Income, GAAP
0.04
0.05
0.05
0.05
0.04
0.03
0.03
0.03
0.02
0.02
0.02
0.02
0.02
0.03
- -
- -
- -
Effective Tax Rate (%)
31.5
31.21
28.75
29.63
27.1
34.71
33.81
32.27
39.47
39.76
42.16
41.26
40.26
40.59
63.28
42.97
- -
Profit Margin (%)
-27,352
-16,822
-11,905
-37,290
-31,136
-14,152
-10,227
195
1,019
-2,248
-12,112
-4,107
12,556
3,628
-23,576
-37,739
-37,739
Working Capital
61,017
77,864
119,381
103,758
141,650
140,800
150,900
153,550
163,300
161,250
166,250
168,600
200,350
183,350
478,360
458,270
458,270
LT Debt
135,732
150,272
150,390
150,781
180,845
211,915
212,825
212,851
229,314
229,276
230,665
230,545
229,562
231,523
635,859
632,305
632,305
Total Equity
3.27
3.25
3.11
2.92
2.78
3.3
3.06
2.95
3.48
3.39
3.65
3.44
3.39
3.51
4.51
3.29
- -
Return on Invested Capital (%)
3.07
2.98
2.79
2.68
2.57
3.13
2.92
2.83
3.39
3.31
3.58
3.38
3.31
3.44
6.6
3.26
- -
Return on Capital (%)
3.94
3.75
3.69
3.87
3.89
4.93
4.43
4.39
5.4
5.24
5.86
5.61
5.63
5.98
11.39
5.34
- -
Return on Common Equity (%)

Capital Structure

JPY

•

in mil. unless spec.
Oct'24
Apr'25
Oct'25
ST Debt
70,040
90,660
107,160
LT Borrowings
478,360
467,270
458,270
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4
4
4
Market Capitalization
591,908
600,225
688,279

Working Capital

JPY

•

in mil. unless spec.
Oct'24
Apr'25
Oct'25
Total Current Assets
59,187
64,553
82,448
Cash, Cash Equivalents & STI
24,856
32,628
49,663
Accounts Receivable, Net
1,016
920
1,169
Inventories
- -
- -
- -
Total Current Liabilities
82,763
102,355
120,187
Payables & Accruals
- -
- -
- -
ST Debt
70,040
90,660
107,160
Deferred Revenue
- -
- -
- -

Growth Rates

JPY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.32%
34.89%
-0.56%
Free Cash Flow
-317.16%
-643.68%
-351.88%
Net Income, GAAP
26.67%
45.89%
-31.51%
Sales/Revenue/Turnover
15.11%
27.39%
0.85%
Total Cash Common Dividend
19.09%
30.09%
11.26%

Semi-annual Revenue

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
33,946
2024
- -
- -
78,061
2025
- -
- -
78,724

Semi-annual Earnings Per Share

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
4,725.56
2024
- -
- -
12,108.8
2025
- -
- -
8,375.57

Semi-annual Dividends Per Share

JPY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
4,333.17
2024
- -
- -
7,221.65
2025
- -
- -
8,114.41
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Business
KDX Realty Investment Corporation (8972.T), a Japan-based real estate investment trust sponsored by Kenedix, Inc. and managed by Kenedix Real Estate Fund Management, Inc., invests primarily in a diversified portfolio of income-producing properties across office buildings, residential properties, retail facilities, logistics facilities, hotels, and healthcare facilities; its portfolio comprises 343 properties with a total acquisition price of 1,191.7 billion yen as of October 1, 2025, including 88 office buildings valued at 417.6 billion yen, 134 residential properties at 312.2 billion yen, 60 retail facilities at 278.8 billion yen, 13 logistics facilities at 37.6 billion yen, 6 hotels at 56.0 billion yen, and 42 healthcare facilities at 89.2 billion yen, concentrated mainly in the Tokyo 23 wards, other Tokyo Metropolitan Area locations, and regional urban areas such as ordinance-designated cities. Founded in 2005 as Kenedix Realty Investment Corporation and listed on the Tokyo Stock Exchange's Real Estate Investment Trust Market (securities code 8972) in July 2005, the company is headquartered at 2-1-6 Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan, and operates with fiscal periods ending April 30 and October 31 each year. Originally focused on mid-sized office buildings after converting from a diversified REIT in 2006 and renaming to Kenedix Office Investment Corporation in 2014, it underwent a major strategic shift on November 1, 2023, through an absorption-type merger with Kenedix Residential Next Investment Corporation and Kenedix Retail REIT Corporation, adopting its current name and expanding into a multi-asset class J-REIT with assets under management exceeding 1.1 trillion yen as of late 2024. Recent portfolio optimization includes the acquisition of a warehouse in Japan's Chubu region from sponsor Kenedix for 12.4 billion yen and divestitures of 13 properties, including offices, residences, and the Resora Obu Shopping Terrace mall for 6.5 billion yen, with transactions completing in early 2025; the company also secured 12.4 billion yen in green and social loans along with additional 4.8 billion yen in financing to support ongoing asset reshuffling and growth initiatives. KDX Realty targets stable earnings and sustainable asset expansion through sponsor-supported acquisitions, maintaining a portfolio occupancy rate of 99.2% and declaring distributions such as 4,105 yen per unit ex-dividend October 30, 2025, with financial results for the period ended October 31, 2025, scheduled for announcement on December 17, 2025.