Stock 8975 ICHIGO OFFICE REIT INVESTMENT CORPORATION
Add to a list
To use this feature you must be a member
Log inSign up

Financials Ichigo Office REIT Investment Corporation

Equities

8975

JP3046300004

Commercial REITs

Market Closed - Japan Exchange
Other stock markets
 11:30:00 10/05/2024 am IST 		5-day change 1st Jan Change
84,000 JPY -1.18% Intraday chart for Ichigo Office REIT Investment Corporation +1.82% +1.82%
30/04 Ichigo Office REIT Investment Revises Forecast Upwards on Gain on Disposal of Properties MT
26/04 Ichigo Office REIT Investment Secures Fixed Rates for 2 Billion Loans In Swap Deal MT

Valuation

Fiscal Period: October 2018 2019 2020 2021 2022 2023
Capitalization 1 1,41,890 1,70,237 1,03,429 1,30,604 1,26,971 1,28,485
Enterprise Value (EV) 1 2,38,167 2,68,623 2,00,519 2,32,437 2,31,386 2,36,907
P/E ratio 19.1 x 23.4 x 15 x 20.7 x 19 x 13.5 x
Yield - - - - 5.44% -
Capitalization / Revenue 8.5 x 10.2 x 6.41 x 8.39 x 7.71 x 6.33 x
EV / Revenue 14.3 x 16 x 12.4 x 14.9 x 14 x 11.7 x
EV / EBITDA 22.3 x 25.4 x 19.8 x 24.1 x 23.1 x 18.2 x
EV / FCF 42.3 x -33.9 x 204 x -78.3 x 33.1 x -
FCF Yield 2.36% -2.95% 0.49% -1.28% 3.03% -
Price to Book 1.37 x 1.64 x 0.99 x 1.28 x 1.24 x 1.26 x
Nbr of stocks (in thousands) 1,532 1,532 1,532 1,513 1,513 1,513
Reference price 2 92,600 1,11,100 67,500 86,300 83,900 84,900
Announcement Date 28/01/19 28/01/20 28/01/21 27/01/22 01/02/23 29/01/24
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October 2018 2019 2020 2021 2022 2023
Net sales 1 16,694 16,755 16,124 15,568 16,476 20,295
EBITDA 1 10,703 10,573 10,151 9,643 10,016 13,025
EBIT 1 8,931 8,874 8,474 7,885 8,212 11,104
Operating Margin 53.5% 52.96% 52.56% 50.65% 49.84% 54.71%
Earnings before Tax (EBT) 1 7,422 7,287 6,888 6,322 6,693 9,486
Net income 1 7,422 7,286 6,888 6,322 6,692 9,485
Net margin 44.46% 43.49% 42.72% 40.61% 40.62% 46.74%
EPS 2 4,843 4,755 4,495 4,165 4,422 6,268
Free Cash Flow 1 5,631 -7,934 981.5 -2,970 7,000 -
FCF margin 33.73% -47.35% 6.09% -19.07% 42.48% -
FCF Conversion (EBITDA) 52.61% - 9.67% - 69.89% -
FCF Conversion (Net income) 75.87% - 14.25% - 104.6% -
Dividend per Share - - - - 4,560 -
Announcement Date 28/01/19 28/01/20 28/01/21 27/01/22 01/02/23 29/01/24
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 8,451 8,304 8,261 7,864 7,725 7,844 8,676 7,801 12,380 7,915 7,925 7,959 7,975 7,957
EBITDA - - - - 4,794 4,850 5,331 - - - - - - -
EBIT 1 4,511 4,363 4,381 4,093 3,923 3,963 4,437 3,776 7,189 3,915 3,752 3,859 3,832 3,864
Operating Margin 53.37% 52.54% 53.04% 52.05% 50.79% 50.52% 51.14% 48.4% 58.07% 49.46% 47.34% 48.49% 48.05% 48.57%
Earnings before Tax (EBT) 1 3,733 3,555 3,576 3,314 3,122 3,201 3,692 3,002 6,391 3,096 2,968 3,055 3,022 3,041
Net income 1 3,732 3,554 3,576 3,313 3,122 3,201 3,691 3,001 6,390 3,096 2,967 3,054 3,022 3,040
Net margin 44.16% 42.8% 43.29% 42.13% 40.41% 40.81% 42.54% 38.47% 51.62% 39.11% 37.44% 38.37% 37.89% 38.21%
EPS 2 2,435 2,319 2,333 2,162 2,050 2,114 2,438 1,983 4,222 2,045 1,961 2,018 1,997 2,009
Dividend per Share 2 2,255 2,150 2,163 2,230 2,132 2,185 2,508 2,052 4,224 2,115 2,030 2,088 2,066 2,079
Announcement Date 14/06/19 13/12/19 15/06/20 14/12/20 14/06/21 14/12/21 14/06/22 15/12/22 14/06/23 29/01/24 - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: October 2018 2019 2020 2021 2022 2023
Net Debt 1 96,277 98,386 97,090 1,01,833 1,04,414 1,08,422
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 8.995 x 9.306 x 9.564 x 10.56 x 10.42 x 8.324 x
Free Cash Flow 1 5,631 -7,934 982 -2,970 7,000 -
ROE (net income / shareholders' equity) 7.24% 7.03% 6.62% 6.12% 6.55% 9.3%
ROA (Net income/ Total Assets) 2.54% 2.48% 2.34% 2.17% 2.24% 3.01%
Assets 1 2,92,095 2,94,105 2,94,491 2,91,592 2,98,325 3,15,025
Book Value Per Share 2 67,361 67,848 68,030 67,678 67,407 67,399
Cash Flow per Share 2 6,084 6,571 7,998 6,225 5,747 4,285
Capex 1 7,890 2,673 498 666 1,390 2,662
Capex / Sales 47.26% 15.95% 3.09% 4.28% 8.44% 13.12%
Announcement Date 28/01/19 28/01/20 28/01/21 27/01/22 01/02/23 29/01/24
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Quarterly earnings - Rate of surprise

Company calendar

Sector Office REITs

1st Jan change Capi.
ICHIGO OFFICE REIT INVESTMENT CORPORATION Stock Ichigo Office REIT Investment Corporation
+1.82% 816M
NIPPON BUILDING FUND INC. Stock Nippon Building Fund Inc.
-2.62% 6.49B
DEXUS Stock DEXUS
-7.16% 5.05B
JAPAN REAL ESTATE INVESTMENT CORPORATION Stock Japan Real Estate Investment Corporation
-9.25% 4.84B
KDX REALTY INVESTMENT CORPORATION Stock KDX Realty Investment Corporation
-1.87% 4.16B
EMBASSY OFFICE PARKS REIT Stock Embassy Office Parks REIT
+8.68% 4B
KILROY REALTY CORPORATION Stock Kilroy Realty Corporation
-14.61% 3.99B
SL GREEN REALTY CORP. Stock SL Green Realty Corp.
+15.67% 3.39B
INMOBILIARIA COLONIAL SOCIMI, S.A. Stock Inmobiliaria Colonial SOCIMI, S.A.
-11.53% 3.32B
SOCIÉTÉ FONCIÈRE LYONNAISE Stock Société Foncière Lyonnaise
+0.30% 3.1B
Office REITs
  1. Stock Market
  2. Equities
  3. 8975 Stock
  4. Financials Ichigo Office REIT Investment Corporation
-40% Limited Time Offer: Our subscriptions help you unlock hidden opportunities.
SIGN UP NOW