Why did 7148.T hit limit-down today?

The stock fell to the daily limit as investors reacted to Japan’s 2026 tax outline for inheritance and gift tax. The plan would value small-lot real estate products at actual transaction prices, removing a tax advantage that helped drive demand. With that incentive at risk, the market quickly priced in lower volumes and fee income. Liquidity often shrinks on limit-down days, which can amplify the drop. Shares closed at ¥1,698, down ¥500 or 22.75% from the prior close.

How could the inheritance tax reform affect FPG’s small-lot real estate business?

If enacted, valuing fractional real estate at transaction prices would likely reduce inheritance and gift tax benefits that supported buying. Demand could slow, and fee rates or structures might face pressure. FPG plans to keep selling while reassessing product design, which could protect some economics if it aligns with the new rules. The actual impact will depend on final legislation, client behavior, and how quickly new offerings gain traction under the revised framework.

Is the dividend safe after today’s drop?

The trailing dividend is ¥130.4 per share, a 7.68% yield at ¥1,698. EPS is ¥216.28, implying a payout around 60%, which is reasonable if profits hold. Balance sheet metrics are supportive, with interest coverage near 19.7x and a current ratio around 2.9. The key risk is earnings pressure if demand for fractional products weakens. Watch upcoming guidance for confirmation of cash flow coverage and any changes to dividend policy before making income-focused decisions.

What should investors watch next for 7148.T?

Focus on three items. First, management commentary at the January 29, 2026 earnings release, including product redesign and sales momentum. Second, any official progress on the 2026 tax outline, which would clarify timing and details. Third, operating metrics such as new launches, average ticket size, fee rates, and client mix. Technical stabilization after the limit-down and liquidity recovery will also matter. Together, these signals will shape confidence in revenue durability and capital return capacity.

Global Market Insights

7148.T Stock Today: December 22 — Tax Reform Threatens Real Estate Fractionalization Perks; Shares H

ByHuzaifa Zahoor December 23, 2025December 23, 2025

FPG stock tumbled on December 22 after Japan outlined 2026 tax changes that would value small-lot real estate products at actual transaction prices. The ticker 7148.T closed limit-down at ¥1,698, down ¥500 or 22.75%. Volume rose to 514,300, above its 422,650 average. The move put FPG stock at a new 52-week low and below its 50-day and 200-day averages. Investors fear tax benefits may fade, cutting demand for fractional products that have supported sales and fees.