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Nitto Boseki Co
(3110)
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Rating:61Neutral
Price Target:
¥2,970.00
▼(-89.20% Downside)
Action:Reiterated
Date:07/06/26
The score is driven primarily by improving profitability and a stronger balance sheet, but it is held back by weak cash-flow quality (negative free cash flow and modest cash conversion in 2026). Technical indicators also weigh on the score due to a bearish trend (below key moving averages and negative MACD), while valuation is moderately supportive with a reasonable P/E but a low dividend yield.
Positive Factors
Diversified industrial materials portfolio
Nitto Boseki supplies glass fiber and other engineered materials into electronics and industrial end markets. This product and end-market diversity supports durable demand smoothing, enables product-mix optimization toward higher value-added lines, and reduces reliance on any single customer or segment over the next several months.
Negative Factors
Weak cash conversion and negative free cash flow
Operating cash generation has not reliably tracked reported profits and free cash flow turned negative again in 2026. Persistently uneven cash conversion constrains self-funded investment, dividend capacity and debt repayment, increasing reliance on external funding if capex or working capital needs rise.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified industrial materials portfolio
Nitto Boseki supplies glass fiber and other engineered materials into electronics and industrial end markets. This product and end-market diversity supports durable demand smoothing, enables product-mix optimization toward higher value-added lines, and reduces reliance on any single customer or segment over the next several months.
Read all positive factors
Nitto Boseki Co (3110) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥527.25B
Dividend Yield0.9%
Average Volume (3M)918.15K
Price to Earnings (P/E)11.5
Beta (1Y)1.69
Revenue Growth11.59%
EPS Growth248.87%
CountryJP
Employees2,793
SectorConsumer Cyclical
Sector Strength84
IndustryIndustrial Materials
Share Statistics
EPS (TTM)229.47
Shares Outstanding188,615,070
10 Day Avg. Volume726,840
30 Day Avg. Volume918,150
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)3.93
Price to Sales (P/S)5.77
P/FCF Ratio-211.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,820.00Price Target Upside-82.48% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)107.98
Revenue Forecast (FY)¥139.01B
Nitto Boseki Co Business Overview & Revenue Model
Company Description
Nitto Boseki Co., Ltd., headquartered in Tokyo, Japan, is a company with a rich history, having been founded in 1918 as Fukusima Seiren Seishi K.K. and adopting its current name in April 1923. The organization operates across multiple sectors, spe...
How the Company Makes Money
Nitto Boseki primarily makes money by manufacturing and selling industrial materials to corporate customers. Key revenue streams include (1) sales of glass fiber and glass-fiber-based materials, where revenue is generated from supplying reinforcem...
Nitto Boseki Co Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
52
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 118.23B | 109.03B | 93.25B | 87.53B | 84.05B |
| Gross Profit | 47.58B | 40.38B | 30.61B | 27.21B | 28.23B |
| EBITDA | 68.73B | 26.02B | 16.66B | 13.12B | 15.98B |
| Net Income | 41.77B | 12.84B | 7.30B | 2.77B | 6.52B |
Balance Sheet | |||||
| Total Assets | 283.04B | 223.10B | 212.11B | 185.59B | 187.29B |
| Cash, Cash Equivalents and Short-Term Investments | 62.01B | 28.55B | 23.66B | 21.59B | 18.54B |
| Total Debt | 50.68B | 52.75B | 53.14B | 46.06B | 46.21B |
| Total Liabilities | 102.65B | 87.27B | 88.40B | 76.63B | 76.65B |
| Stockholders Equity | 173.60B | 129.73B | 118.19B | 103.79B | 105.82B |
Cash Flow | |||||
| Free Cash Flow | -3.22B | 5.98B | -1.89B | 470.00M | -10.36B |
| Operating Cash Flow | 17.30B | 19.12B | 5.06B | 7.64B | 6.96B |
| Investing Cash Flow | 22.79B | -11.42B | -7.90B | 1.98B | -17.30B |
| Financing Cash Flow | -7.20B | -3.28B | 4.30B | -7.25B | -1.53B |
Nitto Boseki Co Technical Analysis
Negative
27510.00
Price Trends
3586.28
Negative
4248.08
Negative
3550.47
Negative
Market Momentum
-213.39
Negative
41.47
Neutral
30.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3110, the sentiment is Negative. The current price of 27510 is above the 20-day moving average (MA) of 3077.70, above the 50-day MA of 3586.28, and above the 200-day MA of 3550.47, indicating a bearish trend. The MACD of -213.39 indicates Negative momentum. The RSI at 41.47 is Neutral, neither overbought nor oversold. The STOCH value of 30.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3110.
Nitto Boseki Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥184.29B | 12.49 | 10.37% | 2.39% | 11.57% | 10.78% | |
72 Outperform | ¥122.70B | 20.86 | ― | 1.79% | 9.28% | 21.28% | |
65 Neutral | ¥2.02T | 21.75 | 4.57% | 1.73% | 5.82% | 47.74% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ¥527.25B | 11.54 | 27.72% | 0.99% | 11.59% | 248.87% | |
58 Neutral | ¥12.99B | 13.85 | ― | 4.80% | 20.31% | 6.98% | |
54 Neutral | ¥124.17B | 28.82 | 0.46% | 3.51% | -4.36% | 49.85% |
* Consumer Cyclical Sector Average
JP:3110
Nitto Boseki Co
2,815.00
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Nitto Boseki Co Corporate Events
Nittobo Announces Five-for-One Stock Split and Boosts Authorized Shares
May 25, 2026
Nittobo will implement a five-for-one stock split of its common shares effective July 1, 2026, aiming to lower the minimum investment amount and broaden its investor base. The number of issued shares will increase from 37,723,012 to 188,615,060, w...
Nittobo Hikes Medium-Term Profit Targets as AI-Driven Glass Demand Surges
May 12, 2026
Nittobo has sharply raised its FY2027 targets under its New Medium-Term Management Plan, lifting net sales from 135 billion yen to 155 billion yen and operating profit from 20 billion yen to 36 billion yen, while also increasing planned four-year ...
Nittobo Plans Higher Year-End Dividend, Lifting Annual Payout to 127 Yen
May 12, 2026
Nittobo has approved a year-end dividend of 99.50 yen per share for the fiscal year ended March 31, 2026, up from 78.50 yen a year earlier, bringing the total annual dividend to 127.00 yen including the interim payout. The proposed dividend, sourc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.