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Last ¥89,300 JPY
Change Today +2,200 / 2.53%
Volume 2.9K
8975 On Other Exchanges
Symbol
Exchange
Tokyo
OTC US
As of 2:00 AM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

ichigo real estate investmen (8975) Snapshot

Open
¥87,100
Previous Close
¥87,100
Day High
¥89,400
Day Low
¥86,900
52 Week High
01/15/15 - ¥103,700
52 Week Low
08/8/14 - ¥69,200
Market Cap
126.5B
Average Volume 10 Days
2.3K
EPS TTM
¥2,007
Shares Outstanding
1.4M
EX-Date
10/28/15
P/E TM
44.5x
Dividend
¥3,340
Dividend Yield
3.53%
Current Stock Chart for ICHIGO REAL ESTATE INVESTMEN (8975)

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ichigo real estate investmen (8975) Details

Ichigo Real Estate Investment Corporation, a real estate investment trust, invests primarily in and manages medium-sized office buildings in Japan. It operates properties located in the Tokyo metropolitan area, Kansai area, Nagoya, Fukuoka, Sapporo, Sendai, Hiroshima, and other urban areas. The company was formerly known as JAPAN OFFICE Investment Corporation and changed its name to Ichigo Real Estate Investment Corporation in March 2011. Ichigo Real Estate Investment Corporation was founded in 2005 and is based in Tokyo, Japan.

Founded in 2005

ichigo real estate investmen (8975) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

ichigo real estate investmen (8975) Key Developments

Ichigo Real Estate Investment Corporation Proposes Amendments to its Articles of Incorporation

Ichigo Real Estate Investment Corporation decided at its board meeting held on July 17, 2015, to submit amendments to its Articles of Incorporation at the Ichigo REIT shareholder meeting scheduled for September 5, 2015. The new Articles of Incorporation will become effective by resolution at the shareholder meeting. A partial amendment to the Articles of Incorporation is proposed in response to the Tokyo Stock Exchange-listed Ichigo REIT's (8975) planned transition from a multi-asset class REIT to a specialized office REIT, as well as to reflect revisions to laws and regulations and changes in the structure of the REIT's asset management fee. Ichigo REIT has strategically refocused its portfolio on mid-size office assets. Consistent with this strategy, Ichigo REIT will transition to a specialized office REIT that focuses on offices, and the REIT's name will be changed to Ichigo Office REIT in Article 1. To make the transition to a specialized office REIT, Article 30 Paragraph 1 will be amended to state that in accordance with the investment policy of Ichigo REIT, it shall invest in real estate that are mainly used as offices and real estate-backed securities pertaining to such real estate, and omit residential facilities, retail and commercial facilities, and hotels. Provisions in Article 30 Paragraph 4 will be deleted to reflect the amendment of the Act on Special Measures Concerning Taxation (Ordinance of the Ministry of Finance No.15 of 1957, as amended). Article 31 Paragraph 2 will be amended in accordance to the amendment to Article 3 of the Ordinance for Enforcement of the Act on Investment Trusts and Investment Corporations (Order of the Prime Minister's Office No. 129 of 2000, as amended). In accordance to the amendments to the definition of specified assets in the Order referenced in (d) above, a relevant asset will be added to Article 31 Paragraph 4 Item (8). Article 37 Paragraph 2 will be amended to reflect the amendment of Act on Special Measures Concerning Taxation (Act No.26 of 1957, as amended) to enable Ichigo REIT to make dividend distributions in excess of earnings for the purpose of lowering the REIT's tax burden. Article 39 Paragraph 3 will be amended to clarify treatment of administrative operations related to the issuance of new shares. The Attachment, Management Fee Paid to the Asset Management Company, will be amended to reduce the current Management Fee II that can move around based upon changes in the depreciation amount of the REIT's assets, and to add a new sub-set of Management Fee II that is linked to changes in the REIT's total dividend.

Ichigo Real Estate Investment Corporation, Board Meeting, Jul 14, 2015

Ichigo Real Estate Investment Corporation, Board Meeting, Jul 14, 2015. Agenda: To submit amendments to its Articles of Incorporation at the company's shareholder meeting scheduled for September 5, 2015.

Ichigo Real Estate Investment Corporation Announces Dividend for the Six Months Ended of April 2015, Payable on July 22, 2015; Provides Dividend Guidance for the Six Months of October 2015; Reports Unaudited Earnings Results for the Period Ended from November 1, 2014 to April 30, 2015; Provides Earnings Guidance for the Period Ending from May 1, 2015 to October 31, 2015

Ichigo Real Estate Investment Corporation announced the dividend of JPY 1,603 for the six months ended of April 2015. The dividend will be payable on July 22, 2015. The company provided dividend Guidance of JPY 1,670 for the six months of October 2015. The company reported unaudited earnings results for the period ended from November 1, 2014 to April 30, 2015. For the period, the company reported total operating revenue of JPY 5,020,788,000, operating profit was JPY 2,267,958,000, income before income taxes was JPY 705,082,000, and net income was JPY 704,477,000 or JPY 634. Net cash provided by operating activities was JPY 18,531,926,000. Purchase of property, plant, and equipment was JPY 31,609,000 and purchase of property, plant, and equipment in trust was JPY 27,029,280,000. The company provided earnings guidance for the period ending from May 1, 2015 to October 31, 2015. For the period, the company expects operating revenue of JPY 6,175 million, operating income to be JPY 2,843 million and net income to be JPY 1,828 million.

 

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Industry Average

Valuation 8975 Industry Range
Price/Earnings 45.2x
Price/Sales 9.7x
Price/Book 1.4x
Price/Cash Flow 8.2x
TEV/Sales NM Not Meaningful
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