Added to YB: 2026-08-26
Pitch date: 2026-08-24
8848.T [neutral]
Leopalace21 Corporation
+0.31%
current return
Author Info
No bio for this author
Company Info
Leopalace21 Corporation, together with its subsidiaries, engages in the construction, leasing, and sale of apartments, condominiums, and residential housing in Japan.
Market Cap
JPY 203.7B
Pitch Price
JPY 641.00
Price Target
N/A
Dividend
2.34%
EV/EBITDA
4.54
P/E
9.68
EV/Sales
0.39
Sector
Real Estate Management and Development
Category
value
Yet Another 2 Interesting Opportunities - Leopalace21 Corporation
8848.T (pass): Screens cheap (8x NTM P/E, 21% FCF yield/EV) but author argues it's a value trap: 21% FCF yield isn't real since JGAAP doesn't require leases on balance sheet until April 2027, and the WeWork-for-residential model is highly leveraged financially and operationally—unlikely to sustain above single-digit P/E. Offsetting upside: takeover potential, as Warburg Pincus bought peer J.S.B (3480 JP) at a 172% premium in June 2026 and is building out Japan real estate; Hikari Tsushin is a major holder of both.
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