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Size Ichigo Office REIT Investment (8975.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $816M, the 833rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥85,100 on 6 Nov 2026.
Performance Over six months the shares fell 6.1%, against -8.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 17.5% over the last twelve months (peer median +9.6%); the operating margin is 46.4% (peer median 58.1%).
Valuation It trades at 10.5× forward earnings against a peer median of 14.3× (3rd cheapest of 18).
Next results Next results expected around 16 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥20.8B | ¥26.9B | ¥17.3B | ¥28.0B | ¥17.3B |
| Revenue growth | — | +56% | -38% | +62% | — |
| Gross profit | ¥10.4B | ¥12.5B | ¥9.38B | ¥12.7B | ¥8.51B |
| EBITDA | ¥11.6B | ¥13.1B | ¥11.0B | ¥13.0B | ¥10.0B |
| Net income | ¥7.80B | ¥9.35B | ¥7.40B | ¥9.49B | ¥6.69B |
| Free cash flow | ¥3.32B | ¥15.7B | -¥5.28B | ¥5.58B | ¥4.55B |
| Capital expenditure | ¥8.53B | ¥2.59B | ¥17.5B | ¥11.5B | ¥5.25B |
| Total debt | n/a | ¥125B | ¥124B | ¥115B | ¥113B |
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.
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 | 8975.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.1% | -0.9% | 4th lowest of 21 |
| 6-month return | -6.1% | -8.5% | 9th highest of 21 |
| Distance from 52-week high | -15.3% | -18.2% | 8th highest of 21 |
| Revenue growth (TTM) | -17.5% | +9.6% | 2nd lowest of 19 |
| Operating margin | 46.4% | 58.1% | 8th lowest of 20 |
| Forward P/E | 10.5× | 14.3× | 3rd cheapest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ichigo Office REIT Investment 8975.T | Japan | $816M | -6% | -18% | 46% | 10.5× | n/a | n/a |
| Aspen APZ.AX | Australia | $802M | +6% | +31% | 34% | 24.1× | n/a | n/a |
| Hoshino Resorts REIT 3287.T | Japan | $831M | -11% | +44% | 39% | 16.4× | n/a | n/a |
| Arena REIT ARF.AX | Australia | $801M | -13% | +7% | 98% | 13.8× | n/a | n/a |
| UI Boustead REIT UIBU.SI | Singapore | $831M | -5% | n/a | n/a | 13.5× | n/a | n/a |
| Far East Hospitality Trust Q5T.SI | Singapore | $831M | -10% | +6% | 75% | 16.1× | n/a | n/a |
| LOTTE REIT 330590.KS | South Korea | $792M | -16% | +13% | 67% | 24.4× | n/a | n/a |
| Indus Infra Trust INDUSINVIT.NS | India | $842M | +3% | +41% | 74% | n/a | n/a | n/a |
| Summit Hotel Properties INN | United States | $845M | +27% | +2% | 10% | n/a | n/a | n/a |
| CTO Realty Growth CTO | United States | $783M | 0% | +16% | 25% | 50.1× | n/a | n/a |
| NIPPON REIT Investment 3296.T | Japan | $852M | -18% | +42% | 26% | 14.5× | n/a | n/a |
| Vital Infrastructure Property Trust VITL-UN.TO | Canada | $853M | -15% | -28% | 50% | n/a | n/a | n/a |
| Helios Re Socimi SCHLR.MC | Spain | $779M | 0% | n/a | 76% | 22.2× | n/a | n/a |
| CapitaLand China Trust AU8U.SI | Singapore | $860M | -7% | -10% | 59% | 12.8× | n/a | n/a |
| Postal Realty Trust PSTL | United States | $863M | -5% | +22% | 38% | 30.8× | n/a | n/a |
| Slate Grocery REIT SGR-UN.TO | Canada | $763M | +8% | +2% | 58% | 12.4× | n/a | n/a |
| Starhill Global Real Estate Investment Trust P40U.SI | Singapore | $884M | -13% | 0% | 68% | 11.4× | n/a | n/a |
| Safehold SAFE | United States | $750M | -30% | +13% | 74% | 6.5× | n/a | n/a |
| Stoneweg Europe Stapled Trust SEB.SI | Singapore | $889M | -12% | -2% | 57% | 9.4× | n/a | n/a |
| Star Asia Investment 3468.T | Japan | $895M | -7% | +17% | 41% | 14.3× | n/a | n/a |
| Aims Apac REIT O5RU.SI | Singapore | $904M | -10% | +6% | 65% | 12.6× | n/a | n/a |