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One of Japan's earliest logistics-focused J-REITs, owning warehouses nationwide, sponsored by Mitsubishi Corp-UBS Realty.
One of Japan's earliest logistics-focused J-REITs, owning warehouses nationwide, sponsored by Mitsubishi Corp-UBS Realty.
Collects rent from logistics tenants, typically on fixed-term leases, and as a J-REIT pays out most of its income to unit holders, so it grows by buying warehouses with new units and borrowing. Its asset manager is sponsored by Mitsubishi Corp and UBS Realty.
In one line: An early Japan-listed warehouse REIT.
Moat: narrow (regulatory licence, scale). First-mover scale among logistics J-REITs and sponsor's sourcing network.
Headquarters: Tokyo, Japan · Founded: 2005
Size Japan Logistics Fund (8967.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $1.52B, the 570th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥87,300 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against -5.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 3.0% over the last twelve months (peer median +4.2%); the operating margin is 53.3% (peer median 52.6%).
Valuation It trades at 21.0× forward earnings against a peer median of 15.3× (3rd most expensive of 17).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥26.6B | ¥26.6B | ¥25.8B | ¥20.2B | ¥20.3B |
| Revenue growth | — | +3% | +28% | -1% | — |
| Gross profit | ¥14.8B | ¥14.8B | ¥12.7B | ¥10.7B | ¥10.8B |
| EBITDA | ¥17.8B | ¥17.8B | ¥16.1B | ¥14.2B | ¥14.4B |
| Net income | ¥13.2B | ¥13.2B | ¥11.5B | ¥10.2B | ¥9.70B |
| Free cash flow | ¥11.6B | ¥11.6B | ¥13.4B | ¥11.5B | ¥11.9B |
| Capital expenditure | ¥6.42B | ¥6.42B | ¥4.33B | ¥3.12B | ¥2.86B |
| Total debt | n/a | ¥124B | ¥120B | ¥120B | ¥120B |
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 | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Japan Logistics Fund 8967.T | $1.52B | -8% | +3% | 53% | 21.0× | n/a |
| Glp J-reit 3281.T | $4.00B | -2% | -6% | 45% | 22.5× | n/a |
| Nippon Prologis REIT 3283.T | $4.37B | -8% | +9% | 44% | 23.2× | n/a |
| Mitsui Fudosan Logistics Park 3471.T | $2.00B | -13% | +156% | 28% | 23.1× | n/a |
| Industrial & Infrastructure Fund Investment 3249.T | $2.07B | -12% | +36% | 37% | 16.8× | 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 | 8967.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | +1.1% | 10th lowest of 21 |
| 6-month return | -8.2% | -5.5% | 8th lowest of 20 |
| Distance from 52-week high | -18.4% | -16.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +3.0% | +4.2% | 9th lowest of 19 |
| Operating margin | 53.3% | 52.6% | 10th highest of 19 |
| Forward P/E | 21.0× | 15.3× | 3rd most expensive of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Japan Logistics Fund 8967.T | Japan | $1.52B | -8% | +3% | 53% | 21.0× | n/a | n/a |
| Innovative Industrial Properties IIPR | United States | $1.51B | -4% | -4% | 47% | 13.4× | n/a | n/a |
| Killam Apartment REIT KMP-UN.TO | Canada | $1.51B | -3% | +5% | 63% | 11.0× | n/a | n/a |
| Supermarket Income REIT SUPR.L | United Kingdom | $1.54B | +4% | -7% | 81% | 13.3× | n/a | n/a |
| OUE Real Estate Investment Trust TS0U.SI | Singapore | $1.50B | -5% | +7% | 73% | 16.2× | n/a | n/a |
| MORI TRUST REIT.Inc 8961.T | Japan | $1.48B | -13% | -14% | 64% | 18.0× | n/a | n/a |
| Ingenia Communities INA.AX | Australia | $1.48B | +36% | +8% | 29% | 14.4× | n/a | n/a |
| CBL & Associates Properties CBL | United States | $1.46B | 0% | +9% | 28% | 14.6× | n/a | n/a |
| Global Net Lease GNL | United States | $1.58B | -26% | -30% | 35% | n/a | n/a | n/a |
| Charter Hall Retail REIT CQR.AX | Australia | $1.59B | +6% | +31% | 73% | 14.3× | 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 |
| Ellington Financial EFC | United States | $1.45B | -17% | +30% | 81% | 5.9× | n/a | n/a |
| Centurion Accommodation REIT 8C8U.SI | Singapore | $1.45B | -3% | -69% | 51% | 20.9× | n/a | n/a |
| LaSalle LOGIPORT REIT 3466.T | Japan | $1.45B | -10% | +71% | 28% | 17.3× | n/a | n/a |
| Emperador Properties SOCIMI YEPSA.MC | Spain | $1.44B | +14% | +7% | 46% | n/a | n/a | n/a |
| Lendlease Global Commercial REIT JYEU.SI | Singapore | $1.44B | -3% | +4% | 67% | 16.1× | n/a | n/a |
| Blackstone Digital Infrastructure Trust BXDC | United States | $1.61B | n/a | n/a | n/a | 34.9× | 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 | 24.8× | n/a | n/a |
| Safestore SAFE.L | United Kingdom | $1.67B | -13% | +7% | 55% | 14.1× | n/a | n/a |
| Mori Hills Reit Investment 3234.T | Japan | $1.36B | -14% | -1% | 54% | 18.9× | n/a | n/a |
| AEON REIT Investment 3292.T | Japan | $1.36B | -19% | +1% | 35% | n/a | n/a | n/a |