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Retail J-REIT owning AEON shopping malls and stores, leased back to sponsor AEON Group.
Retail J-REIT owning AEON shopping malls and stores, leased back to sponsor AEON Group.
Collects rent from shopping malls and general merchandise stores leased to AEON group companies on long contracts, typically with a fixed part and a part linked to tenants' sales. It passes most income to unitholders and grows mainly by buying more AEON properties from its sponsor.
In one line: A REIT that owns supercenters leased back to a retail giant.
Moat: narrow (regulatory licence, switching costs). Long-term leases to sponsor AEON create stable but concentrated tenant reliance.
Headquarters: Tokyo, Japan · Founded: 2013
Size AEON REIT Investment (3292.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $1.36B, the 606th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥102,100 on 6 Nov 2026.
Performance Over six months the shares fell 18.6%, against -5.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 0.9% over the last twelve months (peer median +6.3%); the operating margin is 35.4% (peer median 41.1%).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥42.8B | ¥42.8B | ¥42.5B | ¥42.2B | ¥41.0B |
| Revenue growth | — | +1% | +1% | +3% | — |
| Gross profit | ¥15.6B | ¥15.6B | ¥16.3B | ¥16.1B | ¥16.0B |
| EBITDA | ¥25.7B | ¥25.7B | ¥26.5B | ¥26.4B | ¥26.3B |
| Net income | ¥12.8B | ¥12.8B | ¥13.9B | ¥13.6B | ¥13.8B |
| Free cash flow | ¥18.0B | ¥18.0B | ¥9.07B | ¥21.6B | -¥2.47B |
| Capital expenditure | ¥5.65B | ¥5.65B | ¥17.5B | ¥4.06B | ¥25.6B |
| Total debt | n/a | ¥188B | ¥194B | ¥188B | ¥188B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| AEON REIT Investment 3292.T | $1.36B | -19% | +1% | 35% | n/a | n/a |
| Japan Metropolitan Fund Investment 8953.T | $4.87B | -8% | 0% | 41% | n/a | n/a |
| United Urban Investment 8960.T | $3.04B | -15% | -2% | 36% | n/a | n/a |
| Japan Prime Realty Investment 8955.T | $2.37B | -7% | -13% | 39% | n/a | n/a |
| Activia Properties 3279.T | $1.90B | -10% | +24% | 47% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3292.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.2% | +0.5% | lowest of 21 |
| 6-month return | -18.6% | -5.5% | 2nd lowest of 21 |
| Distance from 52-week high | -27.4% | -16.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +0.9% | +6.3% | 5th lowest of 20 |
| Operating margin | 35.4% | 41.1% | 9th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AEON REIT Investment 3292.T | Japan | $1.36B | -19% | +1% | 35% | n/a | n/a | n/a |
| Comforia Residential REIT 3282.T | Japan | $1.36B | -20% | +17% | 41% | n/a | n/a | n/a |
| Mori Hills Reit Investment 3234.T | Japan | $1.36B | -14% | -1% | 54% | n/a | n/a | n/a |
| Esr-reit 9A4U.SI | Singapore | $1.33B | -14% | +5% | 71% | n/a | n/a | n/a |
| American Assets Trust AAT | United States | $1.32B | +2% | -8% | 24% | n/a | n/a | n/a |
| CNAMC China Resources Commercial Asset Closed Infrastructure Real Estate Investment Trust 180601.SZ | China | $1.41B | -6% | n/a | n/a | n/a | n/a | n/a |
| Alexander's ALX | United States | $1.29B | +3% | +8% | 34% | n/a | n/a | n/a |
| Lendlease Global Commercial REIT JYEU.SI | Singapore | $1.44B | -3% | +4% | 67% | n/a | n/a | n/a |
| Centuria Industrial REIT CIP.AX | Australia | $1.28B | +1% | +6% | 59% | n/a | n/a | n/a |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | 46% | n/a | n/a | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 28% | n/a | n/a | n/a |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 51% | n/a | n/a | n/a |
| UMH Properties UMH | United States | $1.28B | -6% | +9% | 32% | n/a | n/a | n/a |
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 81% | n/a | n/a | n/a |
| Empire State Realty OP LP Series ES ESBA | United States | $1.46B | -6% | +2% | 16% | n/a | n/a | n/a |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 28% | n/a | n/a | n/a |
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 29% | n/a | n/a | n/a |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 64% | n/a | n/a | n/a |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 73% | n/a | n/a | n/a |
| Piedmont Realty Trust PDM | United States | $1.23B | +18% | +3% | 14% | n/a | n/a | n/a |
| Hulic Reit 3295.T | Japan | $1.23B | -17% | +5% | 38% | n/a | n/a | n/a |