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Residential J-REIT owning rental apartments nationwide, sponsored by Daiwa Securities Group.
Residential J-REIT owning rental apartments nationwide, sponsored by Daiwa Securities Group.
Pays most of its rental income out to unitholders, as J-REITs must pass most earnings on to qualify for tax relief. An external manager that belongs to the Daiwa group runs the trust for fees, and the sponsor offers it first look at properties it sells.
In one line: A Japan-listed apartment REIT tied to a securities group.
Moat: narrow (regulatory licence, distribution). Sponsor Daiwa Securities Group's sourcing network feeds nationwide apartment acquisitions.
Headquarters: Tokyo, Japan · Founded: 2010
Size Daiwa Securities Living Investment (8986.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $1.22B, the 652nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥80,900 on 6 Nov 2026.
Performance Over six months the shares fell 24.6%, against -8.6% for the median peer and +1.8% for the Japan market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 41.7% over the last twelve months (peer median +4.6%); the operating margin is 29.1% (peer median 38.9%).
Valuation It trades at 14.3× forward earnings against a peer median of 18.9× (5th cheapest of 16).
Next results Next results expected around 26 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥54.4B | ¥40.8B | ¥37.2B | ¥33.4B | ¥22.7B |
| Revenue growth | — | +10% | +11% | +47% | — |
| Gross profit | ¥17.0B | ¥17.2B | ¥14.8B | ¥12.8B | ¥11.3B |
| EBITDA | ¥21.4B | ¥21.7B | ¥19.3B | ¥17.3B | ¥15.9B |
| Net income | ¥13.5B | ¥13.8B | ¥12.0B | ¥10.4B | ¥9.27B |
| Free cash flow | ¥18.8B | ¥15.4B | -¥28.4B | ¥1.32B | -¥3.85B |
| Capital expenditure | ¥24.6B | ¥14.4B | ¥57.0B | ¥23.3B | ¥18.3B |
| Total debt | n/a | ¥205B | ¥205B | ¥188B | ¥182B |
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 |
|---|---|---|---|---|---|---|
| Daiwa Securities Living Investment 8986.T | $1.22B | -25% | +42% | 29% | 14.3× | n/a |
| Advance Residence Investment 3269.T | $2.42B | -18% | -4% | 45% | 22.7× | n/a |
| Comforia Residential REIT 3282.T | $1.36B | -20% | +17% | 41% | n/a | n/a |
| Nomura Real Estate Master Fund 3462.T | $3.66B | -23% | -18% | 36% | 20.5× | 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 | 8986.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.0% | -0.4% | 3rd lowest of 21 |
| 6-month return | -24.6% | -8.6% | 2nd lowest of 21 |
| Distance from 52-week high | -31.9% | -18.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +41.7% | +4.6% | highest of 20 |
| Operating margin | 29.1% | 38.9% | 6th lowest of 20 |
| Forward P/E | 14.3× | 18.9× | 5th cheapest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Daiwa Securities Living Investment 8986.T | Japan | $1.22B | -25% | +42% | 29% | 14.3× | n/a | n/a |
| Mitsui Fudosan Retail Fund Investment 8964.T | Japan | $1.23B | -16% | -6% | 53% | 14.1× | n/a | n/a |
| Hulic Reit 3295.T | Japan | $1.23B | -17% | +5% | 38% | 17.6× | n/a | n/a |
| Piedmont Realty Trust PDM | United States | $1.23B | +18% | +3% | 14% | n/a | n/a | n/a |
| Fortune Real Estate Investment Trust 0778.HK | Hong Kong | $1.19B | -11% | -9% | 64% | 15.7× | n/a | n/a |
| UMH Properties UMH | United States | $1.28B | -6% | +9% | 32% | 105.9× | n/a | n/a |
| Centuria Industrial REIT CIP.AX | Australia | $1.28B | +1% | +6% | 59% | 15.6× | n/a | n/a |
| Alexander's ALX | United States | $1.29B | +3% | +8% | 34% | n/a | n/a | n/a |
| American Assets Trust AAT | United States | $1.32B | +2% | -8% | 24% | 59.8× | n/a | n/a |
| Esr-reit 9A4U.SI | Singapore | $1.33B | -14% | +5% | 71% | 10.6× | n/a | n/a |
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 58% | 8.6× | n/a | n/a |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | 9% | 282.2× | n/a | n/a |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 39% | 20.5× | n/a | n/a |
| Comforia Residential REIT 3282.T | Japan | $1.36B | -20% | +17% | 41% | n/a | n/a | n/a |
| AEON REIT Investment 3292.T | Japan | $1.36B | -19% | +1% | 35% | n/a | n/a | n/a |
| Mori Hills Reit Investment 3234.T | Japan | $1.36B | -14% | -1% | 54% | 18.9× | n/a | n/a |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 70% | 11.6× | n/a | n/a |
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 58% | n/a | n/a | n/a |
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 24% | 44.1× | n/a | n/a |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 29% | 33.1× | 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 |