Nippon Building Fund stock fell 1.09 percent on October 2

Published on 10/04/2026 at 19:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nippon Building Fund stock is backed by first-half 2026 net income of JPY 24,354 million, up 26.2 percent year over year. The 2H forecast is JPY 19,968 million.

NBF, JP3027670003, Illustration mit AI erstellt.

Nippon Building Fund stock (ISIN JP3027670003) was last at JPY 117,800 on the Tokyo Stock Exchange on October 2, 2026 at 3:30 p.m. JST, down 1.09 percent. The move came after the REIT's first-half 2026 results showed net income of JPY 24,354 million, an increase of 26.2 percent from the prior-year period, according to Quartr on September 7, 2026.

Revenue and income move higher

Operating revenue reached JPY 53,858 million in the six months ended June 30, 2026, up 10.9 percent year over year. Operating income rose 25.8 percent to JPY 26,694 million, while the distribution per unit increased 1.4 percent to JPY 2,489, Quartr reported on September 7, 2026.

The operating profile remains tied to office leasing in Tokyo and other Japanese cities. Quartr lists a 98.5 percent to 98.6 percent occupancy outlook, a 42.6 percent loan-to-value ratio and a 76.9 percent long-term fixed-rate debt ratio for the H1 2026 presentation.

Refinancing keeps debt in view

Nippon Building Fund announced a JPY 5.4 billion long-term borrowing and early repayment plan on September 24, 2026, with an interest rate of 1.931 percent and refinancing linked to debt due in January 2027, according to Japan IR. The loan is unsecured and unguaranteed, making the refinancing schedule and interest costs important counterweights to the stronger earnings trend.

Management's 2H 2026 forecast calls for operating revenue of JPY 50,502 million, net income of JPY 19,968 million and distributions of JPY 2,465 per unit. The 1H 2027 forecast raises those figures to JPY 51,016 million, JPY 20,363 million and JPY 2,541, respectively, according to Quartr.

Stock sits near yearly low

At JPY 117,800, the units were JPY 100 above the 52-week low of JPY 117,700 and JPY 34,500 below the 52-week high of JPY 152,300 on October 2, 2026. Trading volume was 37,450 units, and the market capitalization was JPY 1.0 trillion.