Live News • Jun 22
KDX Realty Investment Approves 50,000 Unit Buyback With Cancellation Set by 2026 KDX Realty Investment has approved a unit buyback program for up to 50,000 investment units, with all repurchased units scheduled to be canceled by the end of the fiscal period ending October 31, 2026.
The buyback is framed by KDX Realty Investment as a way to use available cash and balance sheet capacity to improve capital efficiency and potentially lift per-unit figures for remaining investors once units are canceled.
Units most recently traded at ¥150,700, with the price down about 14.1% year to date, setting the buyback against a weaker recent trading backdrop.
A buyback of this type can matter because canceling units concentrates future cash flows and distributions across fewer securities, although it also depends on how much capital is ultimately deployed and what alternative uses of that capital might have been. New Risk • Jun 19
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 159% Cash payout ratio: 124% Dividend yield: 5.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 159% Cash payout ratio: 124% Reported Earnings • Jun 19
Full year 2026 earnings released: FFO per share: JP¥5.1k (vs JP¥10,146 in FY 2025) Full year 2026 results: FFO per share: JP¥5.1k (down from JP¥10,146 in FY 2025). Revenue: JP¥79.7b (up 1.9% from FY 2025). Funds from operations (FFO): JP¥20.7b (down 50% from FY 2025). FFO margin: 26% (down from 53% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Announcement • Apr 22
KDX Realty Investment Corporation to Report Fiscal Year 2026 Results on Jun 17, 2026 KDX Realty Investment Corporation announced that they will report fiscal year 2026 results on Jun 17, 2026 Upcoming Dividend • Apr 21
Upcoming dividend of JP¥4,166 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 21 July 2026. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (4.9%). Announcement • Mar 27
Ichigo Estate Co., Ltd. agreed to acquire Shin-toshin Maruzen Building from KDX Realty Investment Corporation (TSE:8972) for ¥2.1 billion. Ichigo Estate Co., Ltd. agreed to acquire Shin-toshin Maruzen Building from KDX Realty Investment Corporation (TSE:8972) for ¥2.1 billion on March 26, 2026. A cash consideration of ¥2.07 billion will be paid by Ichigo Estate Co., Ltd. The proceeds have been paid by cash on hand.
The expected completion of the transaction is April 3, 2026. Declared Dividend • Feb 26
First half dividend of JP¥4,166 announced Shareholders will receive a dividend of JP¥4,166. Ex-date: 28th April 2026 Payment date: 21st July 2026 Dividend yield will be 4.8%, which is higher than the industry average of 4.5%. Announcement • Feb 25
KDX Realty Investment Corporation announces Semi-Annual dividend, payable on July 21, 2026 KDX Realty Investment Corporation announced Semi-Annual dividend of JPY 4166.0000 per share payable on July 21, 2026, ex-date on April 28, 2026 and record date on April 30, 2026. Reported Earnings • Feb 03
First half 2026 earnings released: FFO per share: JP¥5.1k (vs JP¥4.97 in 1H 2025) First half 2026 results: FFO per share: JP¥5.1k (up from JP¥4.97 in 1H 2025). Revenue: JP¥39.9b (up 1.2% from 1H 2025). Funds from operations (FFO): JP¥20.7b (up JP¥20.7b from 1H 2025). FFO margin: 52% (up from 0.1% in 1H 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. New Risk • Jan 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.9% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (43% net profit margin). Reported Earnings • Dec 18
First half 2026 earnings released: EPS: JP¥4,203 (vs JP¥4,169 in 1H 2025) First half 2026 results: EPS: JP¥4,203. Revenue: JP¥39.9b (up 1.2% from 1H 2025). Net income: JP¥17.0b (flat on 1H 2025). Profit margin: 43% (in line with 1H 2025). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the REITs industry in Japan. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥4,105 per share Eligible shareholders must have bought the stock before 30 October 2025. Payment date: 21 January 2026. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (4.7%). Announcement • Aug 23
An undisclosed buyer agreed to acquire Leopalace Flat Shin-sakae from KDX Realty Investment Corporation (TSE:8972) for ¥4.4 billion. An undisclosed buyer agreed to acquire Leopalace Flat Shin-sakae from KDX Realty Investment Corporation (TSE:8972) for ¥4.4 billion on August 22, 2025. A cash consideration of ¥4.42 billion will be paid by the buyer. The use of proceeds will be used as cash on hands.
The expected completion of the transaction is August 29, 2025. Declared Dividend • Jul 19
Final dividend of JP¥4,105 announced Shareholders will receive a dividend of JP¥4,105. Ex-date: 30th October 2025 Payment date: 21st January 2026 Dividend yield will be 5.2%, which is higher than the industry average of 4.5%. Reported Earnings • Jun 19
Full year 2025 earnings released: EPS: JP¥8,323 (vs JP¥13,363 in FY 2024) Full year 2025 results: EPS: JP¥8,323 (down from JP¥13,363 in FY 2024). Revenue: JP¥78.3b (up 42% from FY 2024). Net income: JP¥33.9b (down 13% from FY 2024). Profit margin: 43% (down from 70% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 1.5% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jun 17
An undisclosed buyer agreed to acquire COMBOX Komyoike from KDX Realty Investment Corporation (TSE:8972) for ¥5.8 billion. An undisclosed buyer agreed to acquire COMBOX Komyoike from KDX Realty Investment Corporation (TSE:8972) for ¥5.8 billion on June 17, 2025. A cash consideration of ¥5.83 billion will be paid by the buyer. As part of consideration, ¥5.83 billion is paid towards assets of COMBOX Komyoike.
For the period ending December 31, 2024, COMBOX Komyoike reported total revenue of ¥430.35 million and net income of ¥360.25 million.
The expected completion of the transaction is June 30, 2025.
Daiwa Real Estate Appraisal Co., Ltd. acted as Appraiser in the transaction. Announcement • Apr 22
KDX Realty Investment Corporation to Report Fiscal Year 2025 Results on Jun 17, 2025 KDX Realty Investment Corporation announced that they will report fiscal year 2025 results on Jun 17, 2025 Upcoming Dividend • Apr 21
Upcoming dividend of JP¥3,930 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 17 July 2025. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (4.0%). In line with average of industry peers (5.2%). Declared Dividend • Mar 17
First half dividend of JP¥3,930 announced Shareholders will receive a dividend of JP¥3,930. Ex-date: 28th April 2025 Payment date: 17th July 2025 Dividend yield will be 5.4%, which is higher than the industry average of 4.5%. Announcement • Mar 15
KDX Realty Investment Corporation announces Semi-Annual dividend, payable on July 17, 2025 KDX Realty Investment Corporation announced Semi-Annual dividend of JPY 3930.0000 per share payable on July 17, 2025, ex-date on April 28, 2025 and record date on April 30, 2025. Reported Earnings • Feb 05
First half 2025 earnings released: FFO per share: JP¥5.0 (vs JP¥5,066 in 1H 2024) First half 2025 results: FFO per share: JP¥5.0 (down from JP¥5,066 in 1H 2024). Revenue: JP¥39.4b (up 137% from 1H 2024). Funds from operations (FFO): JP¥20.4m (down 100% from 1H 2024). FFO margin: 0.1% (down from 52% in 1H 2024). Revenue is expected to fall by 1.4% p.a. on average during the next 3 years compared to a 2.8% decline forecast for the REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 20% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Large one-off items impacting financial results. Announcement • Dec 17
KDX Realty Investment Corporation (TSE:8972) announces an Equity Buyback for 53,000 shares, representing 1.3% for ¥6,000 million. KDX Realty Investment Corporation (TSE:8972) announces a share repurchase program. Under the program, the company will repurchase up to 53,000 units, representing 1.3% of its issued share capital (excluding own investment units) for ¥6,000 million. The purpose of the program is to improve capital efficiency and a return to unitholders, and to improve unitholder value over the medium to long term. The repurchased shares will be cancelled. The program will be valid till February 28, 2025. As of December 16, 2024, the company had 4,079,309 units (excluding own investment units) and 0 own units. Announcement • Nov 22
KDX Realty Investment Corporation to Report Q2, 2025 Results on Dec 16, 2024 KDX Realty Investment Corporation announced that they will report Q2, 2025 results on Dec 16, 2024 Upcoming Dividend • Oct 23
Upcoming dividend of JP¥3,924 per share Eligible shareholders must have bought the stock before 30 October 2024. Payment date: 20 January 2025. Trailing yield: 5.2%. Within top quartile of Japanese dividend payers (3.8%). In line with average of industry peers (5.3%). Reported Earnings • Jul 28
Full year 2024 earnings released: FFO per share: JP¥4.7k (vs JP¥10,285 in FY 2023) Full year 2024 results: FFO per share: JP¥4.7k (down from JP¥10,285 in FY 2023). Revenue: JP¥55.3b (up 65% from FY 2023). Funds from operations (FFO): JP¥13.7b (down 22% from FY 2023). FFO margin: 25% (down from 52% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Jun 20
Final dividend of JP¥3,924 announced Shareholders will receive a dividend of JP¥3,924. Ex-date: 30th October 2024 Payment date: 20th January 2025 Dividend yield will be 5.1%, which is higher than the industry average of 4.5%. Reported Earnings • Jun 20
Full year 2024 earnings released: EPS: JP¥13,363 (vs JP¥8,029 in FY 2023) Full year 2024 results: EPS: JP¥13,363 (up from JP¥8,029 in FY 2023). Revenue: JP¥55.3b (up 65% from FY 2023). Net income: JP¥39.0b (up 185% from FY 2023). Profit margin: 70% (up from 41% in FY 2023). Revenue is forecast to decline by 3.3% p.a. on average during the next 2 years, while revenues in the REITs industry in Japan are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 23
KDX Realty Investment Corporation to Report Q4, 2024 Results on Jun 18, 2024 KDX Realty Investment Corporation announced that they will report Q4, 2024 results on Jun 18, 2024 Upcoming Dividend • Apr 19
Upcoming dividend of JP¥3,800 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 16 July 2024. Trailing yield: 4.9%. Within top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (4.6%). Price Target Changed • Apr 02
Price target increased by 14% to JP¥191,750 Up from JP¥167,750, the current price target is an average from 8 analysts. New target price is 21% above last closing price of JP¥158,800. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of JP¥10,809 for next year compared to JP¥10,825 last year. Announcement • Mar 22
KDX Realty Investment Corporation (TSE:8972) announces an Equity Buyback for 81,500 shares, representing 1.97% for ¥10,000 million. KDX Realty Investment Corporation (TSE:8972) announces a share repurchase program. Under the program, the company will repurchase up to 81,500 investment units, representing 1.97% of its total shares outstanding excluding proprietary investment units, for a total of ¥10,000 million. The purpose of repurchase program is to improve capital efficiency and return returns to investors. The repurchase program is valid till April 22, 2024. As of March 22, 2024, the company has 4,142,897 investment units outstanding excluding proprietary investment units and has 0 own investment units. Announcement • Mar 08
KDX Realty Investment Corporation (TSE:8972) agreed to acquire remaining 30% stake in Trust Beneficiary Interests of iias Kasugai for ¥6.1 billion from unknown seller. KDX Realty Investment Corporation (TSE:8972) agreed to acquire remaining 30% stake in Trust Beneficiary Interests of iias Kasugai for ¥6.1 billion from unknown seller on March 8, 2024. The consideration to be settled in cash. Scheduled Acquisition Date is on March 25, 2024 Declared Dividend • Feb 18
Final dividend of JP¥3,800 announced Shareholders will receive a dividend of JP¥3,800. Ex-date: 26th April 2024 Payment date: 16th July 2024 Dividend yield will be 7.8%, which is higher than the industry average of 4.5%. Reported Earnings • Feb 04
Full year 2023 earnings released: FFO per share: JP¥6.9k (vs JP¥6,606 loss in FY 2022) Full year 2023 results: FFO per share: JP¥6.9k (up from JP¥6,606 loss in FY 2022). Revenue: JP¥33.9b (up 5.6% from FY 2022). Funds from operations (FFO): JP¥8.72b (up JP¥17.2b from FY 2022). FFO margin: 26% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 16
First half 2024 earnings released: EPS: JP¥3,873 (vs JP¥3,784 in 1H 2023) First half 2024 results: EPS: JP¥3,873 (up from JP¥3,784 in 1H 2023). Revenue: JP¥16.7b (up 2.4% from 1H 2023). Net income: JP¥6.57b (up 1.9% from 1H 2023). Profit margin: 40% (in line with 1H 2023). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. New Risk • Nov 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 144% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 138% Cash payout ratio: 136% Earnings are forecast to decline by an average of 5.7% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (144% increase in shares outstanding). Price Target Changed • Oct 30
Price target decreased by 10.0% to JP¥163,750 Down from JP¥181,875, the current price target is an average from 5 analysts. New target price is 6.2% above last closing price of JP¥154,200. Stock is down 8.9% over the past year. The company is forecast to post earnings per share of JP¥6,707 for next year compared to JP¥8,028 last year. Upcoming Dividend • Oct 23
Upcoming dividend of JP¥7,600 per share at 4.6% yield Eligible shareholders must have bought the stock before 30 October 2023. Payment date: 22 January 2024. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (4.2%). Reported Earnings • Aug 03
Full year 2023 earnings released: FFO per share: JP¥10.3k (vs JP¥9,891 in FY 2022) Full year 2023 results: FFO per share: JP¥10.3k (up from JP¥9,891 in FY 2022). Revenue: JP¥33.6b (up 8.5% from FY 2022). Funds from operations (FFO): JP¥8.78b (up 3.5% from FY 2022). FFO margin: 26% (down from 27% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 1.5% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Office REITs industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Jun 14
Full year 2023 earnings released Full year 2023 results: Revenue: JP¥33.6b (up 8.5% from FY 2022). Net income: JP¥13.7b (up 10% from FY 2022). Profit margin: 41% (in line with FY 2022). Revenue is expected to fall by 1.8% p.a. on average during the next 2 years compared to a 2.0% decline forecast for the Office REITs industry in Japan. Announcement • Jun 12
Kenedix Office Investment Corporation to Report Q4, 2023 Results on Jun 13, 2023 Kenedix Office Investment Corporation announced that they will report Q4, 2023 results on Jun 13, 2023 Upcoming Dividend • Apr 20
Upcoming dividend of JP¥7,250 per share at 4.8% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 18 July 2023. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (4.5%). Board Change • Mar 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Executive Director Hiroaki Momoi was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 31
First half 2023 earnings released: FFO per share: JP¥10.3k (vs JP¥9,891 in 1H 2022) First half 2023 results: FFO per share: JP¥10.3k (up from JP¥9,891 in 1H 2022). Revenue: JP¥16.3b (up 8.2% from 1H 2022). Funds from operations (FFO): JP¥8.78b (up 3.5% from 1H 2022). FFO margin: 54% (down from 56% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 15
First half 2023 earnings released: EPS: JP¥7,567 (vs JP¥6,896 in 1H 2022) First half 2023 results: EPS: JP¥7,567 (up from JP¥6,896 in 1H 2022). Revenue: JP¥16.3b (up 8.2% from 1H 2022). Net income: JP¥6.45b (up 9.2% from 1H 2022). Profit margin: 40% (in line with 1H 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Executive Director Hikaru Teramoto was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥14,290 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 20 January 2023. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (3.8%). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Executive Director Hikaru Teramoto was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 20
Upcoming dividend of JP¥14,000 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 19 July 2022. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.5%). In line with average of industry peers (3.7%). Reported Earnings • Dec 16
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: JP¥13,792 (down from JP¥17,060 in 1H 2021). Revenue: JP¥15.0b (down 10% from 1H 2021). Net income: JP¥5.91b (down 19% from 1H 2021). Profit margin: 39% (down from 44% in 1H 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Upcoming Dividend • Oct 21
Upcoming dividend of JP¥14,000 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 20 January 2022. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (3.4%). Reported Earnings • Aug 04
Full year 2021 earnings released: FFO JP¥40,631 per share (vs JP¥39,465 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: JP¥33.0b (up 9.0% from FY 2020). Funds from operations (FFO): JP¥17.4b (up 3.0% from FY 2020). FFO margin: 53% (down from 56% in FY 2020). The decrease in margin was driven by higher expenses. Net asset value (NAV) per share: JP¥539,034 (flat on FY 2020). The current share price is 45% higher than NAV per share. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 4% per year. Reported Earnings • Jun 16
Full year 2021 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥33.0b (up 9.0% from FY 2020). Net income: JP¥14.3b (up 19% from FY 2020). Profit margin: 43% (up from 40% in FY 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 21
Upcoming dividend of JP¥15,180 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 17 July 2021. Trailing yield: 3.6%. Within top quartile of Japanese dividend payers (2.8%). In line with average of industry peers (3.5%). Is New 90 Day High Low • Mar 06
New 90-day high: JP¥720,000 The company is up 9.0% from its price of JP¥662,000 on 04 December 2020. The Japanese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the REITs industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: JP¥691,000 The company is up 8.0% from its price of JP¥641,000 on 29 September 2020. The Japanese market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 1.0% over the same period. Reported Earnings • Dec 16
First half 2021 earnings released: EPS JP¥17,060 The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: JP¥16.7b (up 11% from 1H 2020). Net income: JP¥7.31b (up 25% from 1H 2020). Profit margin: 44% (up from 39% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 11
New 90-day high: JP¥675,000 The company is up 11% from its price of JP¥607,000 on 11 September 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is flat over the same period. Price Target Changed • Dec 01
Price target lowered to JP¥698,375 Down from JP¥764,625, the current price target is provided by 1 analyst. The new target price is 6.9% above the current share price of JP¥653,000. As of last close, the stock is down 20% over the past year. Announcement • Nov 21
Kenedix Office Investment Corporation to Report Fiscal Year 2020 Results on Dec 14, 2020 Kenedix Office Investment Corporation announced that they will report fiscal year 2020 results on Dec 14, 2020 
