Who are Japan Excellent's main competitors?

Named competitors: KDX Realty Investment Corp (8972.T), Daiwa Office Investment Corp (8976.T), Mori Hills REIT (3234.T). The cockpit's measured peer set (industry) also includes SK REIT (395400.KS), CapitaLand India Trust (CY6U.SI), Storage King (SKG.AX), Waypoint REIT (WPR.AX), Heiwa Real Estate REIT (8966.T), Altareit (AREIT.PA).

Is Japan Excellent expensive compared with its peers?

On forward p/e it trades at 16.0× against a peer median of 15.3×, 8th most expensive of 17 in its peer set.

How has Japan Excellent stock performed?

Over six months to 6 Nov 2026 the shares returned -13.5% against -15.3% for the median peer; over one year -15.7%.

← CockpitCompetitor Analysis › 8987.T Japan Excellent, Inc.Open in the cockpit ↗

Japan Excellent, Inc.8987.TCompetitor analysis, valuation and peers

Japan · JPY·Real Estate›Real Estate Investment Trusts

Office-focused J-REIT sponsored by Kanden Realty & Development, the Kansai Electric Power group's real estate arm.

≈ A regional-utility-backed office REITMomentum weak 28

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.04B

US dollars, full cap

Free float

79%

of shares outstanding

$/day

$1.99M

20-day average traded

Fwd P/E

16.0×

forward earnings

ROIC−WACC

n/a

WACC 5.0%

Hurdle

n/a

no reverse DCF

Next earnings

104 days

18 Feb 2027

Close · JPY¥123,800

1D-1.8%

1W-0.2%

1M-2.3%

3M-13.4%

6M-13.5%

YTD-16.9%

1Y-15.7%

ATR %1.5%

52w lowhigh20.9% off high

What Japan Excellent does

Office-focused J-REIT sponsored by Kanden Realty & Development, the Kansai Electric Power group's real estate arm.

In one line: A regional-utility-backed office REIT.

Products and services

Office properties

Customers

Corporate office tenants
Unitholders

Where it sits in the supply chain

Real estate
J-REIT
Office

What could go right

Stable office income

What could go wrong

Interest-rate sensitivity
Office demand uncertainty

Moat: narrow (regulatory licence, distribution). Sponsor Kanden Realty's utility-group ties give access to Kansai-region office assets.

Headquarters: Tokyo, Japan · Founded: 2006

Named competitors

Japan Excellent at a glance

Size Japan Excellent (8987.T) is a Japan Real Estate company (Real Estate Investment Trusts) with a market value of $1.04B, the 717th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥123,800 on 6 Nov 2026.

Performance Over six months the shares fell 13.5%, against -15.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 21 in its peer set.

Growth Revenue fell 17.8% over the last twelve months (peer median +3.9%); the operating margin is 31.5% (peer median 45.6%).

Valuation It trades at 16.0× forward earnings against a peer median of 15.3× (8th most expensive of 17).

Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Japan Excellent against the median of its 20 peers (local-currency closes).

Japan Excellent financials

Reported figures in JPY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	¥33.1B	¥31.4B	¥37.8B	¥45.5B	¥27.1B
Revenue growth	—	-17%	-17%	+68%	—
Gross profit	¥11.0B	¥10.9B	¥9.67B	¥9.55B	¥9.18B
EBITDA	¥14.0B	¥13.9B	¥13.0B	¥12.9B	¥12.7B
Net income	¥8.75B	¥8.80B	¥7.94B	¥7.93B	¥7.60B
Free cash flow	¥5.43B	-¥2.12B	¥11.8B	¥11.4B	¥7.06B
Capital expenditure	¥17.3B	¥21.8B	¥16.3B	¥22.7B	¥9.60B
Total debt	n/a	¥128B	¥130B	¥129B	¥129B

Quarterly statements and history in the cockpit →

Japan Excellent competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Japan Excellent is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Japan Excellent is the large dot.

Japan Excellent competitors and peer comparison

Head to head with its named competitors (8987.T vs 8972.T vs 8976.T vs 3234.T)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Japan Excellent 8987.T	$1.04B	-13%	-18%	32%	16.0×	n/a
KDX Realty Investment 8972.T	$3.47B	-16%	+3%	39%	16.3×	n/a
Daiwa Office Investment 8976.T	$1.74B	-12%	+24%	44%	19.2×	n/a
Mori Hills Reit Investment 3234.T	$1.36B	-14%	-1%	54%	18.9×	n/a

How Japan Excellent compares with its peers

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.

Japan Excellent against its 20 peers (data as of 6 Nov 2026)
Measure	8987.T	Peer median	Rank in peer set
1-month return	-2.3%	-1.1%	7th lowest of 21
6-month return	-13.5%	-15.3%	10th highest of 21
Distance from 52-week high	-20.9%	-22.7%	9th highest of 21
Revenue growth (TTM)	-17.8%	+3.9%	3rd lowest of 21
Operating margin	31.5%	45.6%	6th lowest of 21
Forward P/E	16.0×	15.3×	8th most expensive of 17

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Japan Excellent 8987.T	Japan	$1.04B	-13%	-18%	32%	16.0×	n/a	n/a
SK REIT 395400.KS	South Korea	$1.04B	-30%	+15%	89%	14.8×	n/a	n/a
CapitaLand India Trust CY6U.SI	Singapore	$1.03B	-15%	-2%	43%	9.4×	n/a	n/a
Storage King SKG.AX	Australia	$1.05B	-17%	0%	45%	20.9×	n/a	n/a
Waypoint REIT WPR.AX	Australia	$1.05B	-2%	-1%	100%	12.9×	n/a	n/a
Heiwa Real Estate REIT 8966.T	Japan	$1.06B	-15%	+24%	45%	15.8×	n/a	n/a
Altareit AREIT.PA	France	$1.06B	-9%	-20%	-2%	n/a	n/a	n/a
NTT UD REIT Investment 8956.T	Japan	$1.06B	-16%	+14%	29%	33.1×	n/a	n/a
Easterly Government Properties DEA	United States	$1.06B	-4%	+11%	24%	44.1×	n/a	n/a
Cpi Fim OPG.WA	Poland	$1.00B	-16%	-35%	62%	n/a	n/a	n/a
Medical Properties Trust MPT	United States	$1.08B	-65%	+11%	58%	n/a	n/a	n/a
Growthpoint Properties Australia GOZ.AX	Australia	$1.09B	-2%	0%	70%	11.6×	n/a	n/a
TOKYU REIT 8957.T	Japan	$1.10B	-6%	+10%	39%	20.5×	n/a	n/a
Ho Bee Land H13.SI	Singapore	$978M	-13%	+5%	52%	11.4×	n/a	n/a
National Healthcare Properties NHP	United States	$1.11B	+8%	-1%	9%	282.2×	n/a	n/a
Centerspace CSR	United States	$963M	-15%	+15%	42%	n/a	n/a	n/a
Ladder Capital LADR	United States	$1.12B	-13%	+2%	58%	8.6×	n/a	n/a
Wereldhave WHA.AS	Netherlands	$956M	-15%	+10%	64%	10.1×	n/a	n/a
Ntt Dc REIT NTDU.SI	Singapore	$955M	-9%	-8%	9%	166.0×	n/a	n/a
Orchid Island Capital ORC	United States	$953M	-30%	+83%	64%	4.9×	n/a	n/a
Mitsubishi Estate Logistics REIT Investment 3481.T	Japan	$952M	-17%	-4%	46%	18.6×	n/a	n/a

Questions

Who are Japan Excellent's main competitors?: Named competitors: KDX Realty Investment Corp (8972.T), Daiwa Office Investment Corp (8976.T), Mori Hills REIT (3234.T). The cockpit's measured peer set (industry) also includes SK REIT (395400.KS), CapitaLand India Trust (CY6U.SI), Storage King (SKG.AX), Waypoint REIT (WPR.AX), Heiwa Real Estate REIT (8966.T), Altareit (AREIT.PA).
Is Japan Excellent expensive compared with its peers?: On forward p/e it trades at 16.0× against a peer median of 15.3×, 8th most expensive of 17 in its peer set.
How has Japan Excellent stock performed?: Over six months to 6 Nov 2026 the shares returned -13.5% against -15.3% for the median peer; over one year -15.7%.