Ichigo Office REIT Investment Corporation (8975.T)
Tokyo, JP
Ichigo Office (8975) is a specialized Real Estate Investment Trust dedicated to investing in mid-sized office properties. This particular asset class offers a compelling blend of stable returns and potential for capital appreciation. The company's objective is to enhance shareholder earnings and foster sustainable growth by actively increasing the value of its real estate portfolio. This is achieved through a range of proactive asset management strategies, including providing tailored services to tenants, executing structural building enhancements, and strategically managing tenant leasing. Management of Ichigo Office is conducted by Ichigo Investment Advisors, the dedicated asset management subsidiary of Ichigo, a leading Japanese real estate owner and operator. This entity applies its extensive experience and profound knowledge in the development, operation, and administration of Japanese properties to generate value for shareholders. The mid-sized offices within the portfolio consistently produce stable cash flows, thereby ensuring reliable dividend distributions to investors. Furthermore, this asset class, sensitive to economic cycles, presents an upside opportunity for shareholders through the potential for higher rental income, particularly as the Japanese economy exhibits signs of recovery from decades of deflation. A distinct advantage arises from the Japanese mid-sized office market's relative inefficiency and the limited involvement of other major real estate companies, who typically prioritize larger assets. This market dynamic creates significant scope for adding value and boosting the profitability of acquired properties.
No mergers or acquisitions recorded for this company.
| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +2.02% | -2.47% | +5.09% | -5.22% | -6.87% | -5.71% | -0.33% | +2.48% | -6.78% | +11.69% | +49.20% |
Revenue flow
Revenue by geography
Revenue by segment
Revenue composition
By product
By geography
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
| Rating | 2026-04 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 1 | 0 |
| Hold | 1 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
-
Revenue growth+55.7% Q2'26: +23.1% (vs Q2'24)
-
EPS growth+24.9% Q2'26: +7.6% (vs Q2'24)
-
FCF margin— Q2'26: -16.9% (vs Q2'24)
-
EBIT margin— Q2'26: +46.3% (vs Q2'24)
-
ROIC— Q2'26: +8.9% (vs Q2'24)
-
Share dilution+0.5% Q2'26: +1.4% (vs Q2'24)
-
Debt / EBITDA9.50× Q2'26: 5.65× (vs Q2'24)
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
| Metric |
Oct 2022 actual |
Oct 2023 actual |
Oct 2024 actual |
Oct 2025 actual |
Oct 2026 1 Rev. Ana. 1 EPS Ana. |
Oct 2027 1 Rev. Ana. 1 EPS Ana. |
Oct 2028 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|---|---|---|---|---|
| Revenue |
16.48B
est: 20.18B (-18.4%)
|
20.29B
est: 16.14B (+25.8%)
|
17.29B
est: 9.23B (+87.4%)
|
26.92B
est: 19.24B (+39.9%)
|
18.08B
18.08B – 18.08B
-6.0% YoY
|
19.11B
19.11B – 19.11B
+5.7% YoY
|
19.78B
19.78B – 19.78B
+3.5% YoY
|
| EBITDA |
10.02B
est: 12.53B (-20.1%)
|
13.03B
est: 9.56B (+36.2%)
|
10.48B
est: 5.47B (+91.7%)
|
13.12B
est: 11.40B (+15.1%)
|
10.71B
10.71B – 10.71B
-6.0% YoY
|
11.33B
11.33B – 11.33B
+5.7% YoY
|
11.72B
11.72B – 11.72B
+3.5% YoY
|
| EBIT |
8.21B
est: 10.37B (-20.8%)
|
11.10B
est: 7.93B (+39.9%)
|
8.52B
est: 4.54B (+87.7%)
|
11.14B
est: 9.46B (+17.8%)
|
8.89B
8.89B – 8.89B
-6.0% YoY
|
9.40B
9.40B – 9.40B
+5.7% YoY
|
9.73B
9.73B – 9.73B
+3.5% YoY
|
| Net Income |
6.69B
est: 9.50B (-29.6%)
|
9.49B
est: 6.75B (+40.4%)
|
7.40B
est: 4.03B (+83.8%)
|
9.35B
est: 8.93B (+4.6%)
|
7.62B
7.62B – 7.62B
-14.7% YoY
|
8.06B
8.06B – 8.06B
+5.8% YoY
|
8.29B
8.29B – 8.29B
+2.8% YoY
|
| SGA |
2.00B
est: 2.22B (-10.0%)
|
2.49B
est: 1.61B (+54.9%)
|
1.47B
est: 918.73M (+60.2%)
|
1.39B
est: 1.92B (-27.3%)
|
1.80B
1.80B – 1.80B
-6.0% YoY
|
1.90B
1.90B – 1.90B
+5.7% YoY
|
1.97B
1.97B – 1.97B
+3.5% YoY
|
| EPS |
4,421.94
est: 6,205.43 (-28.7%)
|
6,268.06
est: 4,391.53 (+42.7%)
|
4,836.82
est: 2,620.00 (+84.6%)
|
6,039.88
est: 5,808.00 (+4.0%)
|
4,956.00
4,956.00 – 4,956.00
-14.7% YoY
|
5,242.00
5,242.00 – 5,242.00
+5.8% YoY
|
5,391.00
5,391.00 – 5,391.00
+2.8% YoY
|
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-06-17 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-16 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-15 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-12 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-11 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-10 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-09 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-08 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-05 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-04 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-03 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-02 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-06-01 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-29 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-28 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-27 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-26 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-25 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-22 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-21 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-20 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-19 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-18 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-15 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-14 | B+ | 3/5 | 5/5 | 4/5 | 4/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-13 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-12 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 2/5 | 2/5 | 2/5 |
| 2026-05-11 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 2/5 | 3/5 | 2/5 |
| 2026-05-08 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 2/5 | 3/5 | 2/5 |
| 2026-05-07 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 2/5 | 3/5 | 2/5 |
| 2026-05-01 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-30 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-28 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-27 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-24 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-23 | A- | 4/5 | 5/5 | 3/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-22 | A- | 4/5 | 5/5 | 3/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-21 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-20 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-17 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-16 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
| 2026-04-15 | A- | 4/5 | 5/5 | 4/5 | 5/5 | 1/5 | 3/5 | 3/5 |
Owner Earnings
Ownership Overview
Ownership breakdown not available.
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional history not available.
Top holders not available.
Insider Activity
No insider activity available.
Insider history not available.
No recent insider transactions.
Executive team
Executive compensation
Executive compensation not available.
No CEO compensation history available.
Proxy statements
No proxy statements available for this company yet.
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Shinji Tsuchiya | General Manager of Investment Management Division - Japan Office Advisors Inc | — | — |
| Takafumi Kagiyama | Executive Director | — | — |
| Takuma Hasegawa | President | — | male |
| Tetsuya Takeda | General Manager of Asset Management Division - Japan Office Advisors, Inc | — | — |
No data available for this company.
No Senate trading activity found for this company.
No House trading activity found for this company.
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Community Opinion for 8975.T
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

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