NIPPON REIT, 26% Decrease in Ordinary Profit for The Current Fiscal Year

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Wed Feb 18, 2026 4:00 pm JST Earnings

3296 NIPPON REIT Investment Corporation

Earnings Report

NIPPON REIT Investment Corporation <3296> [TSE REIT] announced its financial results after the market closed on February 18th (16:00). The ordinary profit for the fiscal year ended December 2025 increased by 9.4% from the previous period to 6.65 billion yen. However, for the fiscal year ending June 2026, the ordinary profit is expected to decrease by 26.3% from the previous period to 4.90 billion yen.

At the same time, the company increased the distribution for the previous term from 2421 yen to 2433 yen (compared to 2345 yen in the prior term), and plans to set the distribution for the current term at 2423 yen.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024	9,963	5,653	4,889	4,887	2,716.0	2,493	Feb 19, 2025	J-GAAP
Jun, 2025	11,013	6,835	6,079	6,077	3,436.0	2,345	Aug 15, 2025	J-GAAP
Dec, 2025	11,654	7,471	6,651	6,650	3,760.0	2,433	Feb 18, 2026	J-GAAP
YoY	+5.8%	+9.3%	+9.4%	+9.4%	+9.4%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2025 Guidance	11,528	7,345	6,497	6,496	3,673.4	2,421	Aug 15, 2025	J-GAAP
Dec, 2025 Results	11,654	7,471	6,651	6,650	3,760.0	2,433	Feb 18, 2026	J-GAAP
Revision Rate	+1.1%	+1.7%	+2.4%	+2.4%	+2.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun, 2025	11,013	6,835	6,079	6,077	3,436.0	2,345	Aug 15, 2025	J-GAAP
Dec, 2025	11,654	7,471	6,651	6,650	3,760.0	2,433	Feb 18, 2026	J-GAAP
Jun, 2026 Guidance	10,077	5,866	4,902	4,901	2,771.5	2,423	Feb 18, 2026	J-GAAP
YoY	-13.5%	-21.5%	-26.3%	-26.3%	-26.3%

Quarterly Results