Investing in Japan via REITS

Japan has been a sleeping giant for awhile now. With Abeconimics, there is hope that there may be revival in Japan's fortunes, and hopefully, there is money to be made from this.

I've taken look at 2 popular REITs - (i) Saizen REIT (ii) Croesus REIT

Saizen REIT deals with residential REITs all over Japan and caters mainly to small families or singles. This REIT is also very popular with savvy investors, and AK71 also buys into this REIT.

Croesus REIT deals with retail malls in Japan and is also highly recommended. If Japan consumption increases, then one strong beneficiary of this should be mall owners. More money = more shopping = happy lessee = happy lessor.

Let's look at the finances for Saizen first:

1. PE= 13.49
2. PB= 1.09
3. Revenue = 31.39
4. Revenue / share = 0.11
5. Revenue growth QoQ = -2%
6. Gross Profit = 2.52B
7. Profit growth QoQ = 4.1%
8. Cash = 42.24 M
9. Debt = 142.05 M
10. Debt / Equity = 63.24
11. current ratio = 2.42
12. book value = 0.79
12. diviend yield: 7.2%

issues: negative retained earnings; -ve cash flow.

Let's look at the finances for Croesus:

1. PE= 17.02
2. PB= 1.54
3. Revenue = 50.92
4. Revenue / share = 0.11
5. Revenue growth QoQ = 42.4%
6. Gross Profit = 2.97B
7. Profit growth QoQ = -51.50%
8. Cash = 11.09 M
9. Debt = 377.48 M
10. Debt / Equity = 124.52
11. current ratio = 2.10
12. book value = 0.759
12. diviend yield: 8.2%

issues: -ve cash flow
other information: occupancy rate of 90.9% in 2015 as opposed to 91.8% in 2014
NAV is currently 1.13 for 2015 as opposed to 1.22 for 2014. debt ratio high at 50%

All in all, i am not sure if either reit works for me! i need to carry on reading. for now, not investing.