| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 68818.31 | 38 |
| Intrinsic value (DCF) | 15276.46 | -69 |
| Graham-Dodd Method | 23869.89 | -52 |
| Graham Formula | 33478.71 | -33 |
MIRAI Corporation (3476.T) is a Tokyo-based real estate investment trust (REIT) specializing in diversified property assets, including office buildings, hotels, and retail properties. Founded in 2015, MIRAI operates under Japan's REIT tax structure, allowing it to avoid corporate income tax on distributed earnings, enhancing shareholder returns. The company's portfolio is strategically positioned in Japan's dynamic real estate market, benefiting from urbanization and commercial demand. With a market capitalization of approximately ¥81.07 billion, MIRAI focuses on income-generating properties, offering investors exposure to Japan's resilient real estate sector. Its dividend yield, supported by stable cash flows, makes it an attractive option for income-focused investors. MIRAI's disciplined capital allocation and tax-efficient structure reinforce its competitive edge in the REIT - Diversified industry.
MIRAI Corporation presents a compelling investment case due to its tax-efficient REIT structure, stable cash flows, and diversified property portfolio. The company's ¥4.64 billion net income and ¥2,557 dividend per share underscore its profitability and shareholder-friendly approach. However, its high total debt of ¥91.9 billion and negative capital expenditures (-¥13.76 billion) indicate significant leverage and ongoing investment demands. The low beta (0.165) suggests lower volatility relative to the market, appealing to risk-averse investors. While the dividend yield is attractive, investors should monitor debt levels and Japan's real estate market conditions, which could impact occupancy rates and rental income.
MIRAI Corporation competes in Japan's REIT sector with a diversified portfolio that mitigates sector-specific risks. Its tax-advantaged structure enhances distributable income, a key differentiator. However, its relatively small market cap (¥81.07 billion) limits scale compared to larger peers. The company's focus on office, hotel, and retail properties aligns with Japan's urban demand but exposes it to cyclical trends. MIRAI's competitive advantage lies in its efficient asset management and localized expertise, though it lacks the international diversification of global REITs. The high debt-to-equity ratio could constrain growth compared to less leveraged competitors. Its low beta indicates stability but may also reflect slower growth potential. MIRAI's success hinges on Japan's economic recovery and commercial real estate performance.