{
 "as_of": "2026-11-06",
 "cmr": "jp-cm-kg/TSE-REIT/3287",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# Hoshino Resorts REIT,Inc. (REITs and funds: 3287) — research page\n\nAs of 2026-11-06 · jp-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is Hoshino Resorts REIT,Inc., listed on REITs and funds, ticker 3287, LEI 353800DF2MUZWFL4IL56. The ISIN is not on the record, as GLEIF maps no ISIN to this LEI. Security type is REIT / listed fund, jurisdiction JP, and the segment is not on the record. The sector is not on the record, as the JPX line for funds, PRO Market and foreign lines carries no 33-sector code. Status: listed, not halted.\n\n## The disclosure read\n\nThe record holds 0 filings in the window 2025-11-06 to 2026-11-06, on 0 filing days, with no filing type breakdown. The median gap between filing days is not on the record, and no latest filing date or latest filing type is on the record. The record date is 2026-11-06. For the exchange peer group REITs and funds, which holds 63 issuers, the median cadence gap is not on the record, the median filings figure is 0, and the median latency is not on the record. Sector peer figures for JP are not on the record.\n\n## Auditor\n\nThe auditor is not on the record, as no source was read. The auditor's location is not on the record. Auditor changes are not on the record, as this market's register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, as this market's register has no lifecycle type map yet. The halt flag is listed, not halted.\n\n## Orderability\n\nFor the client category Qualified Institutional Investors, the outcome is not determinable, with no signal code given. The reason is that the rule states a product scope and the subject's record carries no instrument class to place within it. The rule version is acm-68000/jp/suitability-principle-fiea-article-40/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe record holds 7 research houses named on the issuer's investor-relations pages: SMBC Nikko Securities Inc., Mizuho Securities Co.,Ltd., Daiwa Securities Co. Ltd., Morgan Stanley MUFG Securities Co., Ltd., SBI SECURITIES Co.,Ltd., Morgan Stanley, and MUFG Securities Co., Ltd.\n\n## Open research\n\nNo openly published research notes were found, and none are on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began date is not on the record.\n\n## Sources\n\n7 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx (identity.exchange)\n- https://api.gleif.org/api/v1/lei-records/353800DF2MUZWFL4IL56 (identity.jurisdiction)\n- https://mcp.jp-cm-kg.ai/events/TSE-REIT/3287 (the disclosure lines)\n- https://www.jpx.co.jp/markets/equities/suspended/index.html (the halt flag)\n- https://mcp.jp-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.hoshinoresorts-reit.com/en/ir/analyst.html (coverage)\n- https://mcp.jp-cm-kg.ai/record/TSE-REIT/3287 (the record)\n",
 "market": "JP",
 "node": "jp-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the JP vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "market": "JP",
    "reason": "no source read",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "JP",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "JP",
    "state": "not_on_record"
   },
   "changes": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "jp-cm-kg/TSE-REIT/3287",
  "coverage": {
   "count": 7,
   "houses": [
    {
     "analyst": "Hiroshi Torii",
     "house": "SMBC Nikko Securities Inc.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "analyst": "Yosuke Ohata",
     "house": "Mizuho Securities Co.,Ltd.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "analyst": "Noritaka Hobo",
     "house": "Daiwa Securities Co. Ltd.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "analyst": "Takuya Sato",
     "house": "Morgan Stanley MUFG Securities Co., Ltd.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "analyst": "Koki Ozawa",
     "house": "SBI SECURITIES Co.,Ltd.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "house": "Morgan Stanley",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    },
    {
     "analyst": "Takuya Sato",
     "house": "MUFG Securities Co., Ltd.",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html",
     "result": "read: 7 of 12 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 63,
     "median_cadence_gap_days": null,
     "median_filings": 0,
     "median_latency_days": null,
     "name": "REITs and funds"
    },
    "sector": {
     "market": "JP",
     "state": "not_on_record"
    }
   },
   "by_type": {},
   "cadence_median_gap_days": null,
   "filing_days": 0,
   "filings": 0,
   "latency_days": null,
   "latest": [],
   "latest_filing_date": null,
   "note": "no disclosure line on the record for this issuer in the window",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.jp-cm-kg.ai/events/TSE-REIT/3287",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "REITs and funds"
   },
   "isin": {
    "market": "JP",
    "reason": "GLEIF maps no ISIN to this LEI",
    "state": "not_on_record"
   },
   "jurisdiction": {
    "read_by": "GLEIF LEI record (LEI per the LEI column)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/353800DF2MUZWFL4IL56",
    "state": "sourced",
    "value": "JP"
   },
   "lei": {
    "read_by": "GLEIF name-exact (English name against the legal or other names, jurisdiction JP; GLEIF golden copy 2026-09-12)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/353800DF2MUZWFL4IL56",
    "state": "sourced",
    "value": "353800DF2MUZWFL4IL56"
   },
   "name": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "Hoshino Resorts REIT,Inc."
   },
   "sector": {
    "market": "JP",
    "reason": "no 33-sector code on the JPX line (funds, PRO Market and foreign lines carry none)",
    "state": "not_on_record"
   },
   "security_type": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "REIT / listed fund"
   },
   "segment": {
    "market": "JP",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "3287"
   },
   "website": {
    "market": "JP",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "JP",
  "node": "jp-cm-kg",
  "numbers_hash": "sha256:d57e318fb2220abac885fce13d90014d48609fb517649f2b4e45819d4ccafd0f",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Qualified Institutional Investors"
   ],
   "outcomes": {
    "Qualified Institutional Investors": {
     "determinable": false,
     "reason": "the rule states a product scope and the subject's record carries no instrument class to place within it",
     "signal": null
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.jp-cm-kg.ai/book/aio.json",
    "door": "https://mcp.jp-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/jp/suitability-principle-fiea-article-40/r1",
   "section": "jp.aio.v6"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.jp-cm-kg.ai/record/TSE-REIT/3287",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.jpx.co.jp/markets/equities/suspended/index.html",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:d57e318fb2220abac885fce13d90014d48609fb517649f2b4e45819d4ccafd0f",
 "path": "/jp/TSE-REIT/3287",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is Hoshino Resorts REIT,Inc., listed on REITs and funds, ticker 3287, LEI 353800DF2MUZWFL4IL56. The ISIN is not on the record, as GLEIF maps no ISIN to this LEI. Security type is REIT / listed fund, jurisdiction JP, and the segment is not on the record. The sector is not on the record, as the JPX line for funds, PRO Market and foreign lines carries no 33-sector code. Status: listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 0 filings in the window 2025-11-06 to 2026-11-06, on 0 filing days, with no filing type breakdown. The median gap between filing days is not on the record, and no latest filing date or latest filing type is on the record. The record date is 2026-11-06. For the exchange peer group REITs and funds, which holds 63 issuers, the median cadence gap is not on the record, the median filings figure is 0, and the median latency is not on the record. Sector peer figures for JP are not on the record.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor is not on the record, as no source was read. The auditor's location is not on the record. Auditor changes are not on the record, as this market's register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, as this market's register has no lifecycle type map yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "For the client category Qualified Institutional Investors, the outcome is not determinable, with no signal code given. The reason is that the rule states a product scope and the subject's record carries no instrument class to place within it. The rule version is acm-68000/jp/suitability-principle-fiea-article-40/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The record holds 7 research houses named on the issuer's investor-relations pages: SMBC Nikko Securities Inc., Mizuho Securities Co.,Ltd., Daiwa Securities Co. Ltd., Morgan Stanley MUFG Securities Co., Ltd., SBI SECURITIES Co.,Ltd., Morgan Stanley, and MUFG Securities Co., Ltd.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found, and none are on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began date is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "7 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://api.gleif.org/api/v1/lei-records/353800DF2MUZWFL4IL56"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.jp-cm-kg.ai/events/TSE-REIT/3287"
  },
  {
   "for": "the halt flag",
   "source": "https://www.jpx.co.jp/markets/equities/suspended/index.html"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.jp-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://www.hoshinoresorts-reit.com/en/ir/analyst.html"
  },
  {
   "for": "the record",
   "source": "https://mcp.jp-cm-kg.ai/record/TSE-REIT/3287"
  }
 ],
 "title": "Hoshino Resorts REIT,Inc. (3287) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}