Japan Real Estate Investment (TSE:8952) EBIT: 円39,884 Mil (TTM As of Mar. 2026)


TSE:8952 Japan Real Estate Investment Corp TSE:8952
64 GF Score
Price 円118,000.00
GF Value 円111,805.74
Valuation Fairly Valued
! 6 Warning Signs
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What is Japan Real Estate Investment EBIT?

Japan Real Estate Investment TSE:8952 +1.72% 64 EBIT is 円39,884 Mil as of Mar. 2026. GuruFocus rates TSE:8952 with a GF Score™ of 64/100 and a GF Value™ of 円111,805.74 (Fairly Valued). The stock has 6 warning signs investors should review.

Japan Real Estate Investment's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was 円20,589 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was 円39,884 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Japan Real Estate Investment's annualized ROC % for the quarter that ended in Mar. 2026 was 3.50%. Japan Real Estate Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.91%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Japan Real Estate Investment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 2.98%.


Japan Real Estate Investment  (TSE:8952) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Japan Real Estate Investment's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=41189.396 * ( 1 - 1.69% )/( (1131011.67 + 1179825.224)/ 2 )
=40493.2952076/1155418.447
=3.50 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1076614.782 - 7926.455 - ( 21967.274 - max(0, 93026.295 - 30702.952+21967.274))
=1131011.67

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1122234.052 - 7857.442 - ( 25533.589 - max(0, 100341.268 - 34892.654+25533.589))
=1179825.224

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Japan Real Estate Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=41178.986/( ( (1033793.827 + max(-2590.617, 0)) + (1074686.413 + max(-2282.203, 0)) )/ 2 )
=41178.986/( ( 1033793.827 + 1074686.413 )/ 2 )
=41178.986/1054240.12
=3.91 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(661.865 + 0 + 8073.813) - (7926.455 + 0 + 3399.84)
=-2590.617

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(859.257 + 0 + 8499.808) - (7857.442 + 0 + 3783.826)
=-2282.203

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Japan Real Estate Investment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=39883.83/1337122.026
=2.98 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Japan Real Estate Investment EBIT Related Terms


Japan Real Estate Investment EBIT Historical Data

* Premium members only.

The historical data trend for Japan Real Estate Investment's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Japan Real Estate Investment EBIT Chart

Japan Real Estate Investment Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 34,803.55 35,152.40 34,977.47 40,900.03 40,170.33

Japan Real Estate Investment Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 20,282.60 20,617.43 20,875.99 19,294.34 20,589.49

TSE:8952 vs BXP, ARE, VNO: EBIT Comparison

For the REIT - Office subindustry, Japan Real Estate Investment's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Japan Real Estate Investment EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Japan Real Estate Investment's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Japan Real Estate Investment's EV-to-EBIT falls into.


TSE:8952
64GF Score
Japan Real Estate Investment Corp TSE:8952
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Japan Real Estate Investment EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円39,884 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of 円39,884 Mil mean?
Japan Real Estate Investment (TSE:8952) has a EBIT of 円39,884 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Japan Real Estate Investment.
Is Japan Real Estate Investment's EBIT too high?
Japan Real Estate Investment's current EBIT is 円39,884 Mil. Overall, Japan Real Estate Investment has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Japan Real Estate Investment's EBIT compare to BXP and ARE?
Japan Real Estate Investment's EBIT of 円39,884 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a REITs company?
A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Japan Real Estate Investment. Japan Real Estate Investment's current EBIT is 円39,884 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Real Estate Investment stock overvalued right now?
Based on GuruFocus' analysis, Japan Real Estate Investment (TSE:8952) is currently considered Fairly Valued. The stock's GF Value™ is 円111,805.74, compared to a current price of 円118,000.00 — trading 5.5% above its estimated fair value. The current EBIT is 円39,884 Mil. Japan Real Estate Investment's overall GF Score™ is 64/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Japan Real Estate Investment (TSE:8952), the current EBIT is 円39,884 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Japan Real Estate Investment (TSE:8952) Overvalued in 2026?

Based on GuruFocus' analysis, Japan Real Estate Investment stock appears to be overvalued. The current stock price of 円118,000.00 is trading 5.5% above its estimated GF Value™ of 円111,805.74. GuruFocus considers Japan Real Estate Investment to be Fairly Valued.

Key valuation signals for TSE:8952:

  • EBIT: 円39,884 Mil
  • GF Value™: 円111,805.74 vs. price of 円118,000.00 (5.5% above fair value)
  • GF Score™: 64/100 with 6 warning signs

No single metric tells the full story. See the TSE:8952 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Japan Real Estate Investment Business Description

Industry Real EstateREITs
Other Exchanges JUA:Germany
Address OTEMACHI Park Building 1-1-1 Otemachi, Chiyoda-ku, Tokyo, JPN, 100-0004
Japan Real Estate Investment Corp, or J-REIT, is a Japanese real estate investment trust that invests in, owns, and leases office properties. The vast majority of the company's real estate portfolio is located within Tokyo's 23 wards and the Tokyo metropolitan area in terms of total value. Within this area, J-REIT's offices reside within the Tokyo central business district. The company derives nearly all of its income in the form of rental revenue from the leasing of its office properties. While J-REIT tenants hail from a diverse assortment of industries, firms from the service, information services, electric devices, and financial services industries are its customers.
64GF Score

Get the complete analysis for TSE:8952

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円118,000.00
Price
円111,805.74
GF Value