We initiate coverage on Mitsui Fudosan, one of Japan's largest real estate developers by revenue. The group generates the majority of its earnings from the leasing of its office, retail, and logistics properties, as well as the sale of condominiums and residential housing developments.
Tokyo office rents outperform due to tight supply and strong demand. Higher rental reversion and occupancy lift recurring earnings and property values.
Interest rates rise faster than expected, increasing funding costs and lowering property values.
|
Metric
|
8801
|
8830
|
8802
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.21 | 14.90 | 22.92 |
Price/Book Value | 1.22 | 1.19 | 1.59 |
Price/Sales | 1.50 | 2.80 | 2.52 |
Price/Cash Flow | 13.28 | 11.29 | 12.75 |
|
Metric
|
8801
|
8830
|
8802
|
|---|---|---|---|
Quick Ratio | 0.10 | 0.09 | 1.28 |
Current Ratio | 1.76 | 1.31 | 1.93 |
Interest Coverage | 6.11 | 12.13 | 7.30 |
|
Metric
|
8801
|
8830
|
8802
|
|---|---|---|---|
Return on Assets (Normalized) | — | — | — |
Return on Equity (Normalized) | — | — | — |
Return on Invested Capital (Normalized) | — | — | — |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| Mitsubishi Estate Co Ltd ADR
MITEY
| — | LOCK|F& | $27B | |||
| Mitsubishi Estate Co Ltd
MITEF
| — | LOCK|!& | $27B | |||
| Mitsui Fudosan Co Ltd ADR
MTSFY
| — | LOCK|@^ | $25B | |||
| Mitsui Fudosan Co Ltd
MTSFF
| — | LOCK|jc | $25B | |||
| Henderson Land Development Co Ltd
HLDVF
| — | LOCK|Q^X | $16B | |||
| Henderson Land Development Co Ltd ADR
HLDCY
| — | LOCK|srQ | $16B | |||
| Swiss Prime Site AG
SWPRF
| — | LOCK|@>msf | $11B | |||
| SM Prime Holdings Inc
SPHXF
| — | LOCK|wH | $7B | |||
| Daito Trust Construction Co Ltd ADR
DIFTY
| — | LOCK|&pV | $7B | |||
| Daito Trust Construction Co Ltd
DITTF
| — | LOCK|X^ | $7B |
United States