Ichigo Office REIT Investment Corporation [8975.T]
TOKYO, Jun 17 (Pulse News Wire) – Ichigo Office REIT Investment Corporation (8975.T) reported strong results for its fiscal quarter ending April 2026, exceeding initial forecasts. Operating profit reached ¥4.467 billion, up 109% compared to the previous period.
Revenue increased by ¥8.699 billion due to higher rental income from properties such as Shibuya-Dogenzaka and Shinagawa-Koen-dori. Additionally, the company achieved a net operating income (NOI) of ¥5.939 billion, marking a record high. The company also sold four properties—Ichigo Hamazomon Building, Ichigo Nishikitaibashi Building, Ichigo Kudandai Building, and Ichigo Ningyocho Building—at prices significantly above their book values, generating total gains of ¥5.866 billion.
These sales contributed to a substantial increase in distributable cash flow per share (DPU) to ¥2,274 per share, surpassing the initial forecast by 13%. Looking ahead, Ichigo Office expects continued growth driven by rent increases and capital expenditures aimed at enhancing asset value. The firm plans to allocate funds towards future growth opportunities, ensuring sustained profitability and shareholder returns.
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