{"ticker": {"uuid": "03971159-326e-45c0-b834-04e6a072845c", "symbol": "8951", "name": "Nippon Building Fund Inc.", "exchange": "JPX", "asset_type": "equity"}, "latest_week": "2026-06-12", "summary": "8951 closed the latest completed week at 123,600 JPY. The 4-week return is -1.9% and the 12-week return is -13.0%. Trend Signal is inactive, Market Dynamics is -1.25.", "description": "Nippon Building Fund Inc. is an investment corporation under the Law Concerning Investment Trusts and Investment Corporations of Japan. With Mitsui Fudosan Co., Ltd., Sumitomo Mitsui Trust Bank, Limited. and Nippon Building Fund Management Ltd, (hereinafter NBFM) acting as sponsors. Registration with the Kanto Local Finance Bureau of the Ministry of Finance was completed on May 10, 2001 and NBF started acquisition of office properties on May 23, 2001. NBF is an externally managed real estate fund, formed as an investment corporation. NBFM, as NBF's asset management company, is engaged in acquiring, managing, leasing, and renovating office properties. Mitsui Fudosan Co., Ltd. currently owns 46% of NBFM while Sumitomo Life Insurance Company owns 35% and the remaining 19% is mainly owned by financial institutions. On September 10, 2001, NBF had raised approximately 50,000 million yen through an initial public offering of units. Those units are listed on the J-REIT section of the Tokyo Stock Exchange. As of June 30, 2025, NBF had ownership or beneficiary interests in 68 office properties containing approximately 1,207,586 square meters of rentable office space. As of June 30, 2025, NBF had leased office space to 1,545 tenants engaged in a variety of businesses. The occupancy rate for office properties was approximately 98.6%. Nippon Building Fund Inc. was incorporated in 2001 in Japan. Nippon Building Fund Inc. was established on March 16, 2001.", "setup_signature": "Risk-first tape", "composite_score": "33", "kpis": [{"label": "Latest Close", "value": "123,600 JPY", "hint": "2026-06-12"}, {"label": "1W Return", "value": "3.5%", "tone": "positive", "hint": "latest completed week"}, {"label": "4W Return", "value": "-1.9%", "tone": "negative", "hint": "short-term follow-through"}, {"label": "12W Return", "value": "-13.0%", "tone": "negative", "hint": "quarterly tape"}, {"label": "Trend Breadth", "value": "76.9%", "hint": "40 of 52 weeks active"}, {"label": "Volume Ratio", "value": "1.1x", "hint": "vs 13-week average"}], "classification": {"exchange": "JPX", "country": "JP", "sector": "Real Estate", "industry": "Reit - Office", "currency": "JPY", "market_cap": "1119.5B"}, "price": {"trend_line": "138,169 JPY", "fair_value": "122,622 JPY", "vs_trend": "-10.5%", "vs_fair_value": "0.8%", "high_52": "152,300 JPY", "low_52": "119,000 JPY", "drawdown": "-18.8%", "range_position": "13.8%"}, "momentum": {"returns": [{"label": "1W", "value": 3.5175879396984926, "value_label": "3.5%", "tone": "positive", "width": 10.050251256281408}, {"label": "4W", "value": -1.9047619047619049, "value_label": "-1.9%", "tone": "negative", "width": 5.4421768707483}, {"label": "12W", "value": -13.01900070372977, "value_label": "-13.0%", "tone": "negative", "width": 37.197144867799345}, {"label": "26W", "value": -12.681715780441936, "value_label": "-12.7%", "tone": "negative", "width": 36.23347365840553}, {"label": "52W", "value": -4.016086624316968, "value_label": "-4.0%", "tone": "negative", "width": 11.474533212334196}], "trend_streak": 0, "active_weeks": 40, "active_breadth": "76.9%", "peer": {"scope": "JP Real Estate", "count": 192, "rank": 16, "percentile": 92.14659685863874, "avg_weekly_return": 0.52521100533751}}, "setup": {"scores": [{"label": "Trend", "value": 42.307692307692314, "value_label": "42", "width": 42.307692307692314, "tone": "neutral", "description": "Persistence of active Trend Signal over the last year and current streak."}, {"label": "Momentum", "value": 33.90194698569083, "value_label": "34", "width": 33.90194698569083, "tone": "negative", "description": "Blend of 4-week and 12-week follow-through."}, {"label": "Dynamics", "value": 29.11384170656759, "value_label": "29", "width": 29.11384170656759, "tone": "negative", "description": "Latest Market Dynamics and whether pressure has improved over four weeks."}, {"label": "Relative Strength", "value": 0, "value_label": "0", "width": 4, "tone": "negative", "description": "Relative leadership and short-term RS change."}, {"label": "Volume", "value": 47.270133465939786, "value_label": "47", "width": 47.270133465939786, "tone": "neutral", "description": "Participation compared with the 13-week volume baseline."}, {"label": "Risk Control", "value": 47.56281226294068, "value_label": "48", "width": 47.56281226294068, "tone": "neutral", "description": "Drawdown and recent weekly volatility pressure."}], "timeline": [{"week": "27 Feb", "return": 0.7628294036061026, "return_label": "0.8%", "tone": "positive", "trend": true, "buy_signal": false, "positive_md": false, "height": 6.356911696717522}, {"week": "6 Mar", "return": -1.1699931176875429, "return_label": "-1.2%", "tone": "negative", "trend": true, "buy_signal": false, "positive_md": false, "height": 9.74994264739619}, {"week": "13 Mar", "return": 0.20891364902506965, "return_label": "0.2%", "tone": "positive", "trend": true, "buy_signal": false, "positive_md": false, "height": 4}, {"week": "20 Mar", "return": -1.250868658790827, "return_label": "-1.3%", "tone": "negative", "trend": true, "buy_signal": false, "positive_md": false, "height": 10.423905489923559}, {"week": "27 Mar", "return": -3.729767769176636, "return_label": "-3.7%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 31.081398076471967}, {"week": "3 Apr", "return": -0.5116959064327485, "return_label": "-0.5%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 4.264132553606237}, {"week": "10 Apr", "return": 0.6612784717119765, "return_label": "0.7%", "tone": "positive", "trend": false, "buy_signal": false, "positive_md": false, "height": 5.510653930933137}, {"week": "17 Apr", "return": -1.313868613138686, "return_label": "-1.3%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 10.94890510948905}, {"week": "24 Apr", "return": -1.5532544378698225, "return_label": "-1.6%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 12.94378698224852}, {"week": "1 May", "return": -1.5777610818933134, "return_label": "-1.6%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 13.148009015777612}, {"week": "8 May", "return": -1.6793893129770994, "return_label": "-1.7%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 13.994910941475828}, {"week": "15 May", "return": -2.1739130434782608, "return_label": "-2.2%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 18.115942028985508}, {"week": "22 May", "return": -3.3333333333333335, "return_label": "-3.3%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 27.77777777777778}, {"week": "29 May", "return": 4.597701149425287, "return_label": "4.6%", "tone": "positive", "trend": false, "buy_signal": false, "positive_md": false, "height": 38.314176245210724}, {"week": "5 Jun", "return": -6.279434850863422, "return_label": "-6.3%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 52.32862375719518}, {"week": "12 Jun", "return": 3.5175879396984926, "return_label": "3.5%", "tone": "positive", "trend": false, "buy_signal": false, "positive_md": false, "height": 29.313232830820773}]}, "groups": {"sector": {"scope": "JP Real Estate", "count": 100, "avg_weekly_return": 2.1487453691860634, "avg_four_week_return": -2.312247803858528, "avg_twelve_week_return": -5.414069514974471, "trend_breadth": 14.000000000000002, "positive_md_breadth": 8.0, "positive_rs_breadth": 2.0, "week_rank": 14, "four_week_rank": 44, "twelve_week_rank": 90, "top_peers": [{"id": 25041, "symbol": "3480", "name": "J.S.B.Co.,Ltd.", "exchange": "JPX", "url": "/terminal/d85969ee-112a-40c7-88a4-0c7065c61952/report/", "weekly_return": 2.0618556701030926, "weekly_return_label": "2.1%", "weekly_return_tone": "positive", "four_week_return": 31.499051233396585, "four_week_return_label": "31.5%", "four_week_return_tone": "positive", "twelve_week_return": 105.63798219584571, "twelve_week_return_label": "105.6%", "twelve_week_return_tone": "positive", "trend_active": true, "positive_md": true, "positive_rs": true}, {"id": 25012, "symbol": "3465", "name": "Ki-Star Real Estate Co.,Ltd", "exchange": "JPX", "url": "/terminal/86ab8df5-9ae2-425e-9807-00db36ec3a92/report/", "weekly_return": 7.162921348314606, "weekly_return_label": "7.2%", "weekly_return_tone": "positive", "four_week_return": 9.0, "four_week_return_label": "9.0%", "four_week_return_tone": "positive", "twelve_week_return": 20.139068879677826, "twelve_week_return_label": "20.1%", "twelve_week_return_tone": "positive", "trend_active": true, "positive_md": false, "positive_rs": false}, {"id": 31603, "symbol": "8975", "name": "Ichigo Office REIT Investment Corporation", "exchange": "JPX", "url": "/terminal/57d72905-d6aa-4c4e-a90c-7582b1181684/report/", "weekly_return": 11.058263971462544, "weekly_return_label": "11.1%", "weekly_return_tone": "positive", "four_week_return": 6.742857142857144, "four_week_return_label": "6.7%", "four_week_return_tone": "positive", "twelve_week_return": -0.07495715539935581, "twelve_week_return_label": "-0.1%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 24201, "symbol": "2780", "name": "Komehyo Holdings Co.,Ltd.", "exchange": "JPX", "url": "/terminal/ab898ed3-24ad-4c5b-8404-0e7c0df229db/report/", "weekly_return": -1.3435700575815739, "weekly_return_label": "-1.3%", "weekly_return_tone": "negative", "four_week_return": 6.528497409326425, "four_week_return_label": "6.5%", "four_week_return_tone": "positive", "twelve_week_return": 12.430531422151187, "twelve_week_return_label": "12.4%", "twelve_week_return_tone": "positive", "trend_active": true, "positive_md": true, "positive_rs": true}, {"id": 25010, "symbol": "3463", "name": "Ichigo Hotel REIT Investment Corporation", "exchange": "JPX", "url": "/terminal/04fb7644-262b-4adf-8a75-dccc120e0147/report/", "weekly_return": 0.0, "weekly_return_label": "0.0%", "weekly_return_tone": "neutral", "four_week_return": 4.659832246039143, "four_week_return_label": "4.7%", "four_week_return_tone": "positive", "twelve_week_return": -3.189655172413793, "twelve_week_return_label": "-3.2%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}]}, "industry": {"scope": "JP Reit - Office", "count": 12, "avg_weekly_return": 2.8259041271742564, "avg_four_week_return": -2.134198146402868, "avg_twelve_week_return": -8.21301254329312, "trend_breadth": 0.0, "positive_md_breadth": 0.0, "positive_rs_breadth": 0.0, "week_rank": 2, "four_week_rank": 6, "twelve_week_rank": 11, "top_peers": [{"id": 31603, "symbol": "8975", "name": "Ichigo Office REIT Investment Corporation", "exchange": "JPX", "url": "/terminal/57d72905-d6aa-4c4e-a90c-7582b1181684/report/", "weekly_return": 11.058263971462544, "weekly_return_label": "11.1%", "weekly_return_tone": "positive", "four_week_return": 6.742857142857144, "four_week_return_label": "6.7%", "four_week_return_tone": "positive", "twelve_week_return": -0.07495715539935581, "twelve_week_return_label": "-0.1%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 31605, "symbol": "8976", "name": "Daiwa Office Investment Corporation", "exchange": "JPX", "url": "/terminal/95e6815f-4db3-4118-ae73-5b50e2757fb2/report/", "weekly_return": 3.054662379421222, "weekly_return_label": "3.1%", "weekly_return_tone": "positive", "four_week_return": -0.3928054780072151, "four_week_return_label": "-0.4%", "four_week_return_tone": "negative", "twelve_week_return": -6.360715033086002, "twelve_week_return_label": "-6.4%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 31583, "symbol": "8961", "name": "MORI TRUST REIT, Inc.", "exchange": "JPX", "url": "/terminal/21b8302d-3af1-4cb5-908e-7028134447e5/report/", "weekly_return": 2.3709902370990235, "weekly_return_label": "2.4%", "weekly_return_tone": "positive", "four_week_return": -0.8108108108108109, "four_week_return_label": "-0.8%", "four_week_return_tone": "negative", "twelve_week_return": -4.052287581699346, "twelve_week_return_label": "-4.1%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 31561, "symbol": "8952", "name": "Japan Real Estate Investment Corporation", "exchange": "JPX", "url": "/terminal/9f9d4698-cc47-4e21-a734-5e764e8b9ebf/report/", "weekly_return": 3.1503150315031503, "weekly_return_label": "3.2%", "weekly_return_tone": "positive", "four_week_return": -1.2919896640826873, "four_week_return_label": "-1.3%", "four_week_return_tone": "negative", "twelve_week_return": -8.140753905222125, "twelve_week_return_label": "-8.1%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 31566, "symbol": "8954", "name": "ORIX JREIT Inc.", "exchange": "JPX", "url": "/terminal/111673b7-b823-41f6-aac5-ea5b2614149e/report/", "weekly_return": 3.14192849404117, "weekly_return_label": "3.1%", "weekly_return_tone": "positive", "four_week_return": -1.8556701030927836, "four_week_return_label": "-1.9%", "four_week_return_tone": "negative", "twelve_week_return": -6.666666666666667, "twelve_week_return_label": "-6.7%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}]}}, "dynamics": {"market_dynamics": "-1.25", "market_dynamics_tone": "negative", "md_4_change": "20.5%", "relative_strength": "-32.07", "rs_4_change": "-12.3%", "expectation": "Undecided", "expectation_probability": "47.79%"}, "volume": {"latest": "169.2K", "average_13": "150.4K", "average_52": "117.8K", "ratio_13": "1.1x", "ratio_52": "1.4x"}, "risk": {"volatility_13": "2.7%", "volatility_52": "2.2%", "downside_weeks": 23, "upside_weeks": 29, "downside_breadth": "44.2%", "average_gain": "1.4%", "average_loss": "-1.9%"}, "signals": [{"label": "Trend Signal", "value": "Inactive", "tone": "negative"}, {"label": "Market Dynamics", "value": "No fresh buy", "tone": "neutral"}, {"label": "Price vs Trend", "value": "-10.5%", "tone": "negative"}, {"label": "Volume", "value": "1.1x", "tone": "neutral"}], "opportunities": ["Price is above Fair Value, showing premium demand versus the model.", "Latest weekly return ranks in the strongest part of its sector group."], "risks": ["Trend Signal is inactive, so price action has not confirmed a constructive regime.", "Price is below the Trend Line, which keeps downside pressure in focus.", "Market Dynamics is negative, which weakens the current setup."], "watch_points": ["Trend Line remains the key weekly regime level.", "Market Dynamics is the pressure gauge to monitor for confirmation or fade.", "A volume ratio above 1.5x would show stronger participation in the next move."], "recent_rows": [{"week": "2026-06-12", "close": "123,600 JPY", "weekly_return": 3.5175879396984926, "weekly_return_label": "3.5%", "weekly_return_tone": "positive", "trend_line": "138,169 JPY", "fair_value": "122,622 JPY", "market_dynamics": "-1.25", "relative_strength": "-32.07", "volume": "169.2K", "trend_signal": "Off"}, {"week": "2026-06-05", "close": "119,400 JPY", "weekly_return": -6.279434850863422, "weekly_return_label": "-6.3%", "weekly_return_tone": "negative", "trend_line": "138,849 JPY", "fair_value": "122,473 JPY", "market_dynamics": "-1.28", "relative_strength": "-35.63", "volume": "202.3K", "trend_signal": "Off"}, {"week": "2026-05-29", "close": "127,400 JPY", "weekly_return": 4.597701149425287, "weekly_return_label": "4.6%", "weekly_return_tone": "positive", "trend_line": "139,607 JPY", "fair_value": "122,354 JPY", "market_dynamics": "-1.39", "relative_strength": "-31.82", "volume": "242.6K", "trend_signal": "Off"}, {"week": "2026-05-22", "close": "121,800 JPY", "weekly_return": -3.3333333333333335, "weekly_return_label": "-3.3%", "weekly_return_tone": "negative", "trend_line": "140,020 JPY", "fair_value": "122,170 JPY", "market_dynamics": "-1.51", "relative_strength": "-32.40", "volume": "185.1K", "trend_signal": "Off"}, {"week": "2026-05-15", "close": "126,000 JPY", "weekly_return": -2.1739130434782608, "weekly_return_label": "-2.2%", "weekly_return_tone": "negative", "trend_line": "140,570 JPY", "fair_value": "122,005 JPY", "market_dynamics": "-1.57", "relative_strength": "-28.57", "volume": "163.9K", "trend_signal": "Off"}, {"week": "2026-05-08", "close": "128,800 JPY", "weekly_return": -1.6793893129770994, "weekly_return_label": "-1.7%", "weekly_return_tone": "negative", "trend_line": "140,954 JPY", "fair_value": "121,824 JPY", "market_dynamics": "-1.64", "relative_strength": "-29.14", "volume": "90.3K", "trend_signal": "Off"}, {"week": "2026-05-01", "close": "131,000 JPY", "weekly_return": -1.5777610818933134, "weekly_return_label": "-1.6%", "weekly_return_tone": "negative", "trend_line": "141,182 JPY", "fair_value": "121,622 JPY", "market_dynamics": "-1.62", "relative_strength": "-24.74", "volume": "126.0K", "trend_signal": "Off"}, {"week": "2026-04-24", "close": "133,100 JPY", "weekly_return": -1.5532544378698225, "weekly_return_label": "-1.6%", "weekly_return_tone": "negative", "trend_line": "141,357 JPY", "fair_value": "121,421 JPY", "market_dynamics": "-1.57", "relative_strength": "-24.45", "volume": "125.7K", "trend_signal": "Off"}, {"week": "2026-04-17", "close": "135,200 JPY", "weekly_return": -1.313868613138686, "weekly_return_label": "-1.3%", "weekly_return_tone": "negative", "trend_line": "141,596 JPY", "fair_value": "121,218 JPY", "market_dynamics": "-1.51", "relative_strength": "-22.32", "volume": "131.2K", "trend_signal": "Off"}, {"week": "2026-04-10", "close": "137,000 JPY", "weekly_return": 0.6612784717119765, "weekly_return_label": "0.7%", "weekly_return_tone": "positive", "trend_line": "141,723 JPY", "fair_value": "120,986 JPY", "market_dynamics": "-1.45", "relative_strength": "-19.86", "volume": "91.1K", "trend_signal": "Off"}, {"week": "2026-04-03", "close": "136,100 JPY", "weekly_return": -0.5116959064327485, "weekly_return_label": "-0.5%", "weekly_return_tone": "negative", "trend_line": "141,851 JPY", "fair_value": "120,737 JPY", "market_dynamics": "-1.20", "relative_strength": "-15.46", "volume": "160.5K", "trend_signal": "Off"}, {"week": "2026-03-27", "close": "136,800 JPY", "weekly_return": -3.729767769176636, "weekly_return_label": "-3.7%", "weekly_return_tone": "negative", "trend_line": "141,915 JPY", "fair_value": "120,498 JPY", "market_dynamics": "-0.96", "relative_strength": "-16.01", "volume": "173.1K", "trend_signal": "Off"}, {"week": "2026-03-20", "close": "142,100 JPY", "weekly_return": -1.250868658790827, "weekly_return_label": "-1.3%", "weekly_return_tone": "negative", "trend_line": "142,015 JPY", "fair_value": "120,250 JPY", "market_dynamics": "-0.81", "relative_strength": "-13.22", "volume": "93.6K", "trend_signal": "On"}, {"week": "2026-03-13", "close": "143,900 JPY", "weekly_return": 0.20891364902506965, "weekly_return_label": "0.2%", "weekly_return_tone": "positive", "trend_line": "142,006 JPY", "fair_value": "119,967 JPY", "market_dynamics": "-0.71", "relative_strength": "-13.19", "volume": "114.9K", "trend_signal": "On"}], "chart_url": "/terminal/03971159-326e-45c0-b834-04e6a072845c/", "api_path": "/terminal/03971159-326e-45c0-b834-04e6a072845c/report/api/"}