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Japan Residential Investment Co

18:15 on 06/01/2016

Current Price 71.75p | Bid 0.00p | Ask 0.00p | Change 0.00%

Company Overview

Japan Residential Investment Company Limited's investment objective is to provide Shareholders with stable income together with capital growth. The Company intends to invest (initially through a Tokumei Kumiai (TK)or silent partnership arrangement and subsequently if appropriate through one or more Tokutei Mokuteki Kaishas (TMKs)) in and hold Japanese residential property predominantly in major conurbations which offer attractive yields and the potential for capital growth. Up to 15 per cent. of the gross asset value (calculated at the time of investment) may be invested in commercial property, where for example a mixed portfolio of properties is acquired, although it is not the intention of the Company to actively invest in commercial property. The Company's Investment Advisor, KR Halifax Asset Management, will identify suitable properties for investment and will provide asset management services to the Group. The Investment Advisor is a sister company of Colliers Halifax and is able to utilise certain resources, including staff, of Colliers Halifax until the Placing Proceeds are fully invested. Colliers Halifax was established in Japan in 1952 and has advised on real estate transactions valued in aggregate at over Yen400 billion (£1.8 billion). Colliers Halifax is a leading real estate consultant in Japan and since 1988 has represented the Colliers International Group in Japan. The Company has five non-executive directors who have investment company and real estate experience.

Stock Details

Shares in Issue 211,966,213
Market cap £ 152.62m
Sector Equity Investment Instruments

Financial Highlights Year Ended 30/11/2014

Turnover £17.56 million
Operating Profit £17.39 million
Dividend Yield 5.00
Dividend Per Share 3.80
Dividend Cover 2.17
P/E Ratio 10.59
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Price Summary

Mid Price ? 0.00p
Bid Price ? 0.00p
Ask Price ? 0.00p
Volume ? 0
Change Today 0.00p
% Change Today 0.00%
Open 0.00p
Previous Close 71.75p
Intraday High 0.00p
Intraday Low 0.00p
52 Week High 74.00p
52 Week Low 52.00p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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