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Starts Proceed Investment Corporation (8979) AI Stock Analysis
Starts Proceed Investment Corporation
(TSE/TYO:8979)
The overall score of 54 is heavily impacted by significant revenue contraction and persistent technical weakness, with the stock trending below all major moving averages. While the solid 5.15% dividend yield and strong cash conversion provide a safety net for income investors, high leverage and a lack of top-line growth keep the overall score restrained.
Starts Proceed Investment Corporation (8979) vs. iShares MSCI Japan ETF (EWJ)
- Market Cap
- JPY 45.38B
- Dividend Yield
- 6.15%
- Average Volume (3M)
- 760
- Price to Earnings (P/E)
- 18.9
- Beta (1Y)
- 0.09
- Revenue Growth
- -3.85%
- EPS Growth
- -9.62%
- Country
- Japan
- Employees
- ―
- Sector
- General
- Sector Strength
- 55
- Industry
- REIT - Residential
Starts Proceed Investment Corporation Business Overview & Revenue Model
Company Description
After three capital increases through public offering and other developments since listing on the JASDAQ Market, SPI listed on the Tokyo Stock Exchange, Inc. Real Estate Investment Trust Securities Market (Securities Code: 8979) on July 27, 2010, and...
How the Company Makes Money
The company makes money primarily by earning rental and leasing income from the real estate properties it owns (or has beneficial interests in), and by managing property-level operating costs to generate net property income. Additional earnings can c...
Starts Proceed Investment Corporation Financial Statement Overview
Summary
Presents a mixed financial picture with excellent operating cash flow conversion (OCF to Net Income ratio of 2.5), offset by a sharp 24.7% revenue decline, shrinking profit margins, and a highly leveraged balance sheet.
Income Statement
38NegativeBalance Sheet
55NeutralCash Flow
72Positive| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.98B | 7.47B | 7.53B | 7.21B | 6.57B | 6.34B |
| Gross Profit | 2.03B | 2.19B | 4.41B | 4.11B | 3.77B | 3.58B |
| EBITDA | 4.67B | 4.71B | 4.71B | 4.54B | 4.17B | 4.03B |
| Net Income | 2.41B | 2.59B | 2.79B | 2.63B | 2.50B | 2.34B |
Balance Sheet | ||||||
| Total Assets | 104.33B | 101.72B | 103.83B | 103.44B | 90.63B | 90.26B |
| Cash, Cash Equivalents and Short-Term Investments | 3.89B | 3.88B | 1.26B | 1.19B | 1.43B | 1.56B |
| Total Debt | 55.95B | 53.25B | 53.26B | 52.85B | 45.65B | 45.65B |
| Total Liabilities | 57.75B | 55.01B | 55.01B | 54.59B | 47.14B | 46.92B |
| Stockholders Equity | 46.59B | 46.70B | 48.82B | 48.85B | 43.48B | 43.34B |
Cash Flow | ||||||
| Free Cash Flow | -411.95M | 4.96B | 2.45B | -9.74B | 2.31B | 2.71B |
| Operating Cash Flow | 4.10B | 6.49B | 7.29B | 5.02B | 7.25B | 4.68B |
| Investing Cash Flow | -4.53B | -1.55B | -4.88B | -14.68B | -5.00B | -1.99B |
| Financing Cash Flow | -115.58M | -4.74B | -2.41B | 9.92B | -2.37B | -2.58B |
Starts Proceed Investment Corporation Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8979, the sentiment is Negative. The current price of 166600.00 is below the 20-day moving average (MA) of 169780.06, below the 50-day MA of 176057.19, and below the 200-day MA of 185381.99, indicating a bearish trend. The MACD of -2279.39 indicates Positive momentum. The RSI at 35.77 is Neutral, neither overbought nor oversold. The STOCH value of -21.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8979.
Starts Proceed Investment Corporation Peers Comparison
Overall Rating
JP:898674Outperform
JP:328273Outperform
JP:326965Neutral- JP:897954Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| JP:8986 | 74Outperform | JPY 193.27B | 14.37 | 7.17% | 6.35% | 41.67% | 1.13% |
| JP:3282 | 73Outperform | JPY 212.21B | 19.78 | ― | 4.77% | 17.32% | 9.81% |
| JP:3269 | 65Neutral | JPY 378.03B | 20.98 | 7.28% | 4.89% | -3.67% | 9.35% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| JP:8979 | 54Neutral | JPY 45.38B | 18.86 | ― | 6.15% | -3.85% | -9.62% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| JP:8979 | Starts Proceed Investment Corporation | 166600.00 | -24703.63 | -12.91% | |
| JP:3269 | Advance Residence Investment Corporation | 131900.00 | -28410.08 | -17.72% | |
| JP:8986 | Daiwa Securities Living Investment Corporation | 81000.00 | -23881.73 | -22.77% | |
| JP:3282 | Comforia Residential REIT, Inc. | 86800.00 | -17470.71 | -16.76% | |
| JP:3290 | One REIT. Inc. | 73500.00 | -10787.95 | -12.80% | |
| JP:3459 | Samty Residential Investment Corp. | 78000.00 | -28693.41 | -26.89% |
Starts Proceed Investment Corporation Corporate Events
Starts Proceed REIT details 41st-period results and outlines new management policy
Starts Proceed Investment Corporation reported highlights for its 41st fiscal period, covering the six months ended April 30, 2026, including financial results, distribution trends, leverage metrics and portfolio performance. The briefing detailed pr...
Starts Proceed Slightly Raises Earnings and Distribution Outlook for October 2026
Starts Proceed Investment Corporation has slightly raised its management and distribution forecasts for the fiscal period ending October 2026, reflecting an improved earnings outlook. The REIT now expects modest increases in operating revenue, income...
Starts Proceed REIT Posts Steady Results and Projects Higher Near-Term Payouts
Starts Proceed Investment Corporation reported modest performance for its 41st fiscal period ended April 30, 2026, with operating revenue edging up 0.5% to ¥3,661 million, while operating and ordinary income dipped slightly and net income declin...
Starts Proceed Investment Corporation Locks In Fixed Rate on Term Loan via Interest Rate Swap
Starts Proceed Investment Corporation has fixed the interest rate on a previously announced term loan by concluding an interest rate swap with Resona Bank, converting a floating-rate borrowing of 2,160 million yen into an effective fixed rate of 2.83...
Starts Proceed REIT Refinances ¥4.32 Billion Loan and Hedges Rate Risk
Starts Proceed Investment Corporation will refinance 4.32 billion yen of borrowings maturing on May 22, 2026 by arranging two new floating-rate term loans totaling the same amount with a syndicate of Japanese banks. The new facilities, a four-year Te...
Starts Proceed Lifts FY2026 Forecast on Real Estate Disposition Gains
Starts Proceed Investment Corporation has revised upward its management and distribution forecasts for the fiscal period ending October 2026, reflecting stronger expected performance from its domestic real estate portfolio. The REIT now projects high...
Starts Proceed to Sell Aging Tokyo Rental Asset in Portfolio Shift
Starts Proceed Investment Corporation has agreed to dispose of its trust beneficiary interest in the rental housing property Proceed Nishikasai in Tokyo for ¥1.176 billion to a domestic limited liability company, with closing scheduled for Octob...
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.
Date of analysis: Aug 04, 2026