Industrial & Infrastructure Fund Investment Corporation (JP:3249)
:3249
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Industrial & Infrastructure Fund Investment Corporation
(3249)
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Rating:64Neutral
Price Target:
¥147,018
▼(-4.66% Downside)
Action:Reiterated
Date:01/14/26
The score is driven primarily by solid profitability but offset by leverage, recent revenue contraction, and a volatile free-cash-flow history. Technicals are supportive due to a strong trend above major moving averages, though overbought signals add near-term risk. Valuation is helped by a strong dividend yield but constrained by a ~22 P/E.
Positive Factors
High profitability margins
Consistently high gross/EBIT/net margins (~44–46%) indicate the REIT extracts strong operating cash from rents, improving its ability to cover distributions and reinvest. Durable margin strength provides a multi-month to multi-year buffer versus cyclical rent swings and expense shocks.
Negative Factors
Elevated leverage
Debt around 1.15x equity leaves limited financial flexibility if interest rates rise or refinancing markets tighten. For a capital-intensive REIT, this levered structure increases refinancing and covenant risk and reduces the margin for error on acquisitions and tenant stress over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Consistently high gross/EBIT/net margins (~44–46%) indicate the REIT extracts strong operating cash from rents, improving its ability to cover distributions and reinvest. Durable margin strength provides a multi-month to multi-year buffer versus cyclical rent swings and expense shocks.
Read all positive factors
Industrial & Infrastructure Fund Investment Corporation (3249) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥347.41B
Dividend Yield4.52%
Average Volume (3M)8.64K
Price to Earnings (P/E)17.2
Beta (1Y)0.26
Revenue Growth7.40%
EPS Growth14.49%
CountryJP
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)8000.12
Shares Outstanding2,528,461
10 Day Avg. Volume8,179
30 Day Avg. Volume8,637
Financial Highlights & Ratios
PEG Ratio31.56
Price to Book (P/B)1.26
Price to Sales (P/S)7.78
P/FCF Ratio25.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)7,529.66
Revenue Forecast (FY)¥36.40B
Industrial & Infrastructure Fund Investment Corporation Business Overview & Revenue Model
Company Description
Industrial and Infrastructure Fund Investment Corporation ("IIF") is the first J-REIT focused on acquiring and operating both industrial and infrastructure properties in Japan-properties that play a vital role in the Japanese economy, and for whic...
How the Company Makes Money
The company makes money primarily by earning rental income from its investment properties. Revenue is generated through lease payments paid by tenants under property lease agreements, which may include base rent and, where applicable, additional r...
Industrial & Infrastructure Fund Investment Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2022 | Jul 2021 | Jul 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 54.10B | 39.82B | 39.23B | 39.16B | 29.24B | 22.03B |
| Gross Profit | 20.36B | 18.20B | 21.78B | 18.27B | 18.10B | 15.09B |
| EBITDA | 27.62B | 23.11B | 22.55B | 19.26B | 18.41B | 15.29B |
| Net Income | 20.26B | 17.49B | 15.93B | 13.36B | 13.28B | 10.89B |
Balance Sheet | ||||||
| Total Assets | 566.19B | 555.12B | 555.44B | 433.41B | 407.43B | 342.22B |
| Cash, Cash Equivalents and Short-Term Investments | 28.48B | 17.24B | 25.58B | 35.31B | 40.15B | 13.13B |
| Total Debt | 291.23B | 282.28B | 282.28B | 212.28B | 194.38B | 170.58B |
| Total Liabilities | 318.58B | 309.01B | 309.23B | 237.72B | 217.31B | 187.12B |
| Stockholders Equity | 247.61B | 246.11B | 246.20B | 195.69B | 190.12B | 155.11B |
Cash Flow | ||||||
| Free Cash Flow | 9.44B | 12.20B | -94.95B | -2.35B | -20.89B | -13.64B |
| Operating Cash Flow | 33.75B | 28.72B | 29.10B | 19.42B | 28.78B | 14.12B |
| Investing Cash Flow | -30.63B | -19.77B | -139.49B | -21.87B | -45.69B | -26.83B |
| Financing Cash Flow | -6.81B | -18.81B | 104.34B | 2.35B | 45.40B | 16.14B |
Industrial & Infrastructure Fund Investment Corporation Technical Analysis
Negative
154200.00
Price Trends
144218.00
Negative
147302.07
Negative
141974.02
Negative
Market Momentum
-1958.79
Positive
32.64
Neutral
45.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3249, the sentiment is Negative. The current price of 154200 is above the 20-day moving average (MA) of 140490.00, above the 50-day MA of 144218.00, and above the 200-day MA of 141974.02, indicating a bearish trend. The MACD of -1958.79 indicates Positive momentum. The RSI at 32.64 is Neutral, neither overbought nor oversold. The STOCH value of 45.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3249.
Industrial & Infrastructure Fund Investment Corporation Peers Comparison
UnderperformOutperform
Sector (55)
JP:3249
Industrial & Infrastructure Fund Investment Corporation
137,400.00
24,492.15
21.69%
JP:3279
Activia Properties
131,300.00
19,231.17
17.16%
JP:3468
Star Asia Investment Corp.
53,500.00
360.86
0.68%
JP:3471
Mitsui Fudosan Logistics Park, Inc.
103,200.00
8,559.91
9.04%
JP:3487
CRE Logistics REIT, Inc
140,800.00
-2,268.98
-1.59%
JP:8984
Daiwa House REIT Investment Corporation
117,200.00
4,244.69
3.76%
Industrial & Infrastructure Fund Investment Corporation Corporate Events
IIF Secures ¥3.4 Billion Short-Term Loan to Fund Recent Property Acquisitions
Apr 22, 2026
Industrial Infrastructure Fund Investment Corporation has arranged a new unsecured, unguaranteed borrowing of ¥3.4 billion from Mizuho Trust Banking, with a 0.9-year term and a floating rate based on one-month JBA yen TIBOR plus a margin. T...
IIF expands Proterial partnership with acquisition of Kansai logistics land
Apr 22, 2026
Industrial Infrastructure Fund Investment Corporation will acquire land with leasehold interests for two logistics and steel processing bases in Sakai, Osaka, and Nishinomiya, Hyogo, from Proterial Group for a total of ¥3.9 billion. The prop...
Industrial & Infrastructure Fund REIT refinances ¥2.45 billion in long-term debt
Mar 25, 2026
Industrial Infrastructure Fund Investment Corporation has arranged new long-term floating-rate loans totaling ¥2.45 billion from The Fukui Bank, Mizuho Bank, and The Bank of Fukuoka. The borrowings, all unsecured and unguaranteed with eight-...
IIF Acquires Two Yamato Logistics Centers to Drive Growth and Asset Value
Mar 19, 2026
Industrial Infrastructure Fund Investment Corporation has acquired two domestic logistics facilities from Yamato Group in Nagoya, Aichi, and Susono, Shizuoka, marking its first corporate real estate project with one of Japan’s leading logis...
IIF Extends ¥10 Billion Commitment-Type Term Loan to 2030
Mar 13, 2026
Industrial Infrastructure Fund Investment Corporation has extended the term of an existing commitment-type term loan facility, originally established on March 17, 2025, to secure a more flexible and stable capital-raising framework. The maximum f...
IIF Sets Fixed Interest Rates on New Refinancing Loans
Mar 11, 2026
Industrial Infrastructure Fund Investment Corporation has finalized the interest rates on a previously announced refinancing package, securing fixed-rate loans to support its capital structure. The REIT will borrow ¥1 billion from Developmen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.