Japan Excellent (TSE:8987) Dividend Payout Ratio: 0.90 (As of Dec. 2025) — Near Median


TSE:8987 Japan Excellent Inc TSE:8987
68 GF Score
Price 円140,200.00
GF Value 円128,675.78
Valuation Fairly Valued
! 9 Warning Signs
View Full Analysis

What is Japan Excellent Dividend Payout Ratio?

Japan Excellent TSE:8987 +0.50% 68 Dividend Payout Ratio is 0.90 as of Dec. 2025, which is 7% below its 10-year median of 0.97. GuruFocus rates TSE:8987 with a GF Score™ of 68/100 and a GF Value™ of 円128,675.78 (Fairly Valued). The stock has 9 warning signs investors should review. Among 713 REITs companies, Japan Excellent ranks better than 59.05% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Japan Excellent's Dividend Payout Ratio for the months ended in Dec. 2025 was 0.90.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Japan Excellent Inc is 0.91, which seems too high.

The historical rank and industry rank for Japan Excellent's Dividend Payout Ratio or its related term are showing as below:

TSE:8987' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.83   Med: 0.97   Max: 1.05
Current: 0.91

During the past 13 years, the highest Dividend Payout Ratio of Japan Excellent was 1.05. The lowest was 0.83. And the median was 0.97.

TSE:8987's Dividend Payout Ratio is ranked better than
59.05% of 713 companies
in the REITs industry
Industry Median: 0.99 vs TSE:8987: 0.91

As of today (2026-07-06), the Dividend Yield % of Japan Excellent is 4.36%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Japan Excellent was 6.19%. The lowest was 2.34%. And the median was 4.04%.

Japan Excellent's Dividends per Share for the months ended in Dec. 2025 was 円3,036.00.

During the past 12 months, Japan Excellent's average Dividends Per Share Growth Rate was 9.10% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 3.10% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 0.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 1.60% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Japan Excellent was 15.00% per year. The lowest was -9.60% per year. And the median was 1.30% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Japan Excellent (TSE:8987) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Japan Excellent Dividend Payout Ratio Related Terms

Japan Excellent Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Japan Excellent's Dividend Payout Ratio 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 Excellent Dividend Payout Ratio Chart

Japan Excellent Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Dividend Payout Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.00 0.99 0.94 0.94 0.91

Japan Excellent Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Dividend Payout Ratio 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 0.93 0.91 0.98 0.91 0.90

TSE:8987 vs BXP, ARE, VNO: Dividend Payout Ratio Comparison

For the REIT - Office subindustry, Japan Excellent's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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 Excellent Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Japan Excellent's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Japan Excellent's Dividend Payout Ratio falls into.


TSE:8987
68GF Score
Japan Excellent Inc TSE:8987
Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Japan Excellent Dividend Payout Ratio Calculation

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period.

Japan Excellent's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (A: Dec. 2025 )/ EPS without NRI (A: Dec. 2025 )
=6142/ 6775.508
=0.91

Japan Excellent's Dividend Payout Ratio for the quarter that ended in Dec. 2025 is calculated as

Dividend Payout Ratio=Dividends per Share (Q: Dec. 2025 )/ EPS without NRI (Q: Dec. 2025 )
=3036/ 3371.592
=0.90

* 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 Dividend Payout Ratio →
What does a Dividend Payout Ratio of 0.90 mean?
Japan Excellent (TSE:8987) has a Dividend Payout Ratio of 0.90 as of Dec. 2025. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Japan Excellent and its competitors. This is near median its historical median of 0.97. Over the past decade, Japan Excellent's Dividend Payout Ratio has ranged from 0.83 to 1.05. According to the industry distribution chart, Japan Excellent ranks #292 out of 713 companies in the REITs industry, placing it in the top 41%.
Is Japan Excellent's Dividend Payout Ratio too high?
Japan Excellent's current Dividend Payout Ratio of 0.90 is near median its 10-year median of 0.97. Over the past 10 years, this metric has ranged from a low of 0.83 to a high of 1.05. The REITs industry median Dividend Payout Ratio is 0.99. Japan Excellent's value of 0.90 is 9.1% below this industry median. Based on the distribution chart, Japan Excellent ranks #292 out of 713 companies in the REITs industry, which is above the industry midpoint. Overall, Japan Excellent has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Japan Excellent's Dividend Payout Ratio compare to BXP and ARE?
According to the REITs industry distribution chart, Japan Excellent ranks #292 out of 713 companies for Dividend Payout Ratio. This puts Japan Excellent in the upper half of its industry. The industry median Dividend Payout Ratio is 0.99. Japan Excellent's value of 0.90 is 9.1% below this benchmark. Historically, Japan Excellent's own Dividend Payout Ratio has ranged from 0.83 to 1.05 over the past decade. While the company's 10-year median is 0.97 vs. the industry median of 0.99, Japan Excellent has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Dividend Payout Ratio for a REITs company?
The median Dividend Payout Ratio among REITs companies is 0.99, based on 713 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Japan Excellent's current Dividend Payout Ratio of 0.90 is 9.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Dividend Payout Ratio mean?
A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Japan Excellent and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Excellent's current Dividend Payout Ratio is 0.90, which is near median its own 10-year median of 0.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Excellent stock overvalued right now?
Based on GuruFocus' analysis, Japan Excellent (TSE:8987) is currently considered Fairly Valued. The stock's GF Value™ is 円128,675.78, compared to a current price of 円140,200.00 — trading 9% above its estimated fair value. The current Dividend Payout Ratio is 0.90, which is near median its 10-year median of 0.97 and 9.1% below the REITs industry median of 0.99. Japan Excellent's overall GF Score™ is 68/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Dividend Payout Ratio calculated?
Dividend Payout Ratio is calculated from a company's financial statements. For Japan Excellent (TSE:8987), the current Dividend Payout Ratio is 0.90 as of Dec. 2025. 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 Excellent (TSE:8987) Overvalued in 2026?

Based on GuruFocus' analysis, Japan Excellent stock appears to be overvalued. The current stock price of 円140,200.00 is trading 9% above its estimated GF Value™ of 円128,675.78. GuruFocus considers Japan Excellent to be Fairly Valued.

Key valuation signals for TSE:8987:

  • Dividend Payout Ratio: 0.90 (near median its 10-year median of 0.97)
  • GF Value™: 円128,675.78 vs. price of 円140,200.00 (9% above fair value)
  • GF Score™: 68/100 with 9 warning signs
  • Industry Position: 9.1% below the REITs median (#292 of 713)

No single metric tells the full story. See the TSE:8987 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Japan Excellent Business Description

Industry Real EstateREITs
Address 1-9-20 Akasaka, Minato-ku, Tokyo, JPN, 107-0052
Japan Excellent Inc is a real estate investment trust. It mainly invests in office buildings located in major metropolitan areas and pursues to create a portfolio that produces stable growth of income by acquiring properties. The company's portfolio of assets is managed by Japan Excellent Asset Management Co., Ltd.
68GF Score

Get the complete analysis for TSE:8987

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

円140,200.00
Price
円128,675.78
GF Value