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Frontier Real Estate Investment Corporation
(8964)
Select Model
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Rating:64Neutral
Price Target:
¥85,707.00
▼(-8.82% Downside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by financial performance: strong profitability is being offset by weakening revenue trends, rising leverage, and notably weaker 2025 cash flow quality. Valuation is supportive due to the high dividend yield, but technicals remain cautious with the price below key longer-term moving averages and below-neutral RSI.
Positive Factors
High net margins
Sustained high operating and net margins provide durable earnings quality for a diversified REIT. Strong margins help absorb occupancy or rental volatility, support stable distributions and internal reinvestment, and give management room to defend cash returns over multiple quarters.
Negative Factors
Sharp revenue decline
Sustained top-line contraction pressures long-term income for a retail-focused REIT; falling revenue reduces margin headroom and limits funds available for maintenance, acquisitions, and distributions. If rental income and occupancy trends don't stabilize, earnings and cash flows will remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
High net margins
Sustained high operating and net margins provide durable earnings quality for a diversified REIT. Strong margins help absorb occupancy or rental volatility, support stable distributions and internal reinvestment, and give management room to defend cash returns over multiple quarters.
Read all positive factors
Frontier Real Estate Investment Corporation (8964) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥214.24B
Dividend Yield5.58%
Average Volume (3M)4.31K
Price to Earnings (P/E)18.0
Beta (1Y)0.14
Revenue Growth-5.60%
EPS Growth-3.93%
CountryJP
Employees21
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)4398.09
Shares Outstanding2,705,000
10 Day Avg. Volume3,454
30 Day Avg. Volume4,307
Financial Highlights & Ratios
PEG Ratio-2.41
Price to Book (P/B)1.43
Price to Sales (P/S)10.56
P/FCF Ratio59.97
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)4,571.2
Revenue Forecast (FY)¥25.63B
Frontier Real Estate Investment Corporation Business Overview & Revenue Model
Company Description
Frontier Real Estate Investment Corporation was established pursuant to the Investment Trust. As the Investment Corporation Act of Japan (Act No. 198 of 1951, including subsequent amendments; the Investment Trust Act) by Mitsui Fudosan Frontier RE...
How the Company Makes Money
null...
Frontier Real Estate Investment Corporation Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.45B | 23.82B | 24.45B | 29.08B | 25.76B | 22.16B |
| Gross Profit | 9.16B | 8.98B | 15.22B | 12.74B | 12.95B | 13.41B |
| EBITDA | 17.26B | 16.69B | 17.54B | 16.26B | 16.64B | 16.09B |
| Net Income | 11.90B | 11.79B | 12.93B | 11.85B | 12.07B | 11.43B |
Balance Sheet | ||||||
| Total Assets | 360.39B | 343.93B | 333.31B | 336.33B | 329.73B | 330.06B |
| Cash, Cash Equivalents and Short-Term Investments | 13.38B | 18.32B | 12.86B | 17.62B | 17.54B | 8.10B |
| Total Debt | 153.70B | 137.70B | 127.70B | 130.10B | 123.20B | 123.40B |
| Total Liabilities | 184.82B | 168.39B | 157.66B | 161.94B | 155.16B | 155.61B |
| Stockholders Equity | 175.58B | 175.54B | 175.65B | 174.39B | 174.57B | 174.45B |
Cash Flow | ||||||
| Free Cash Flow | -7.32B | 4.19B | 14.23B | 5.37B | 18.64B | -6.35B |
| Operating Cash Flow | 16.19B | 16.36B | 21.14B | 21.15B | 19.28B | 15.02B |
| Investing Cash Flow | -24.05B | -12.62B | -7.78B | -16.36B | -1.52B | -23.78B |
| Financing Cash Flow | 4.10B | -1.90B | -14.07B | -5.13B | -12.15B | 10.51B |
Frontier Real Estate Investment Corporation Technical Analysis
Negative
94000.00
Price Trends
80462.28
Negative
81250.29
Negative
84840.23
Negative
Market Momentum
-594.30
Positive
41.96
Neutral
53.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8964, the sentiment is Negative. The current price of 94000 is above the 20-day moving average (MA) of 80200.00, above the 50-day MA of 80462.28, and above the 200-day MA of 84840.23, indicating a bearish trend. The MACD of -594.30 indicates Positive momentum. The RSI at 41.96 is Neutral, neither overbought nor oversold. The STOCH value of 53.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8964.
Frontier Real Estate Investment Corporation Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥151.37B | 11.55 | ― | 4.70% | 41.54% | 6.84% | |
66 Neutral | ¥395.92B | 20.56 | 7.08% | 4.36% | -13.45% | -0.93% | |
66 Neutral | ¥326.51B | 20.67 | 5.91% | 4.18% | 23.60% | 16.04% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥611.53B | 17.99 | 5.37% | 4.64% | 3.41% | 1.19% | |
64 Neutral | ¥214.24B | 17.96 | ― | 4.67% | -5.60% | -3.93% | |
60 Neutral | ¥518.08B | 18.99 | 7.25% | 4.46% | -1.59% | 7.45% |
* Real Estate Sector Average
JP:8964
Frontier Real Estate Investment Corporation
79,100.00
-4,843.09
-5.77%
JP:3279
Activia Properties
137,900.00
7,296.34
5.59%
JP:8955
Japan Prime Realty Investment
98,300.00
-2,438.98
-2.42%
JP:8960
United Urban Investment
162,600.00
-6,995.45
-4.12%
JP:8972
Kenedix Office Investment Corporation
151,500.00
-9,168.63
-5.71%
JP:3296
NIPPON REIT Investment Corp
83,100.00
-10,534.79
-11.25%
Frontier Real Estate Investment Corporation Corporate Events
Mitsui Fudosan Retail Fund Rolls Over ¥2 Billion Short-Term Loan Without Changing Debt Level
Aug 6, 2026
Mitsui Fudosan Retail Fund Investment Corporation has arranged a new short-term, unsecured and unguaranteed loan of ¥2,000 million from The Bank of Fukuoka, Ltd., with a fixed interest rate of 1.20127% and a maturity date of September 10, 202...
Mitsui Fudosan Retail Fund REIT Extends Key Bank Commitment Line
Jul 24, 2026
Mitsui Fudosan Retail Fund Investment Corporation has extended the maturity of its ¥5 billion unsecured commitment line with Sumitomo Mitsui Banking Corporation by one year to August 31, 2029. The facility, originally established in 2015, is ...
Mitsui Fudosan Retail Fund Rolls Over ¥2 Billion Short-Term Loan With No Change in Debt Balance
Jul 8, 2026
Mitsui Fudosan Retail Fund Investment Corporation has arranged a new short-term unsecured, unguaranteed loan of ￥2,000 million from The Bank of Fukuoka, Ltd., to be drawn down on July 10, 2026, at a fixed interest rate of 1.18755% until Aug...
Frontier REIT to Acquire Prime Harajuku Retail Property for ¥1.8 Billion
Jun 23, 2026
Frontier Real Estate Investment Corporation will acquire the Jingu Mae 4-chome Building, a three-story retail property in Tokyo’s Jingu Mae district, for ¥1.8 billion, with closing scheduled for July 30, 2026. The asset, located near ma...
Frontier REIT Refinances ¥2 Billion in Long-Term Debt Without Changing Overall Leverage
Jun 18, 2026
Frontier Real Estate Investment Corporation has arranged new unsecured, unguaranteed long-term loans totaling ¥2 billion from Mitsui Sumitomo Insurance Company and The Chiba Bank, both maturing in June 2032 and carrying interest linked to the...
Frontier REIT Rolls Over ¥2 Billion Short-Term Loan Without Changing Debt Levels
Jun 9, 2026
Frontier Real Estate Investment Corporation has arranged a new unsecured, unguaranteed short-term loan of ¥2 billion from The Bank of Fukuoka, Ltd., with a fixed interest rate of 1.12691% and a maturity date of July 10, 2026. The proceeds wil...
Frontier REIT to Rebrand as Mitsui Fudosan Retail Fund in July
May 26, 2026
Frontier Real Estate Investment Corporation will change its name to Mitsui Fudosan Retail Fund Investment Corporation on July 1, 2026, following approval at its March 2026 general meeting of unitholders. The asset manager, currently Mitsui Fudosan...
Frontier REIT Rolls Over ¥2 Billion Short-Term Loan With No Change in Debt Level
May 7, 2026
Frontier Real Estate Investment Corporation has arranged a new short-term unsecured, unguaranteed loan of ¥2 billion from The Bank of Fukuoka, Ltd., to be drawn down on May 11, 2026, at a fixed interest rate of 0.93936% and maturing on June 1...
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.