Nippon Sheet Glass Company Limited (JP:5202)
:5202
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Nippon Sheet Glass Company
(5202)
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Rating:48Neutral
Price Target:
¥479.00
▼(-6.45% Downside)
Action:Reiterated
Date:05/12/26
The score is mainly held back by financial risk (very high leverage with thin and inconsistent net profitability and volatile free cash flow) and weak technical trend signals (price below key moving averages with negative MACD). A relatively low P/E provides some valuation support but does not fully offset the balance-sheet and momentum concerns.
Positive Factors
Diversified End Markets
NSG’s presence across architectural, automotive and specialty glass creates durable revenue channels tied to construction, OEM vehicle programs and niche industrial customers. This diversification supports resilience to single-market downturns and enables product mix shifts toward higher-value sales.
Negative Factors
High Leverage
Total debt remains very large relative to equity and the capital structure is highly geared. High leverage increases sensitivity to earnings swings and interest-rate moves, raising refinancing and liquidity risk and constraining long-term strategic flexibility and investment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified End Markets
NSG’s presence across architectural, automotive and specialty glass creates durable revenue channels tied to construction, OEM vehicle programs and niche industrial customers. This diversification supports resilience to single-market downturns and enables product mix shifts toward higher-value sales.
Read all positive factors
Nippon Sheet Glass Company (5202) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥67.59B
Dividend YieldN/A
Average Volume (3M)1.17M
Price to Earnings (P/E)10.6
Beta (1Y)1.28
Revenue Growth4.65%
EPS GrowthN/A
CountryJP
Employees24,880
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)44.51
Shares Outstanding142,340,470
10 Day Avg. Volume1,641,370
30 Day Avg. Volume1,170,496
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.31
Price to Sales (P/S)0.05
P/FCF Ratio-26.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)53.37
Revenue Forecast (FY)¥877.47B
Nippon Sheet Glass Company Business Overview & Revenue Model
Company Description
Nippon Sheet Glass Company, Limited (NSG Group) is a leading global glass manufacturer headquartered in Japan. The company operates primarily in the architectural, automotive, and technical glass sectors, providing a wide range of products includi...
How the Company Makes Money
NSG primarily makes money by manufacturing and selling glass and glass-related products across three main business areas. (1) Architectural/Building glass: revenue is generated from sales of flat glass and higher value-added processed products (e....
Nippon Sheet Glass Company Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
32
Negative
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 879.46B | 840.40B | 832.54B | 763.52B | 600.57B |
| Gross Profit | 195.54B | 167.83B | 180.48B | 171.82B | 135.43B |
| EBITDA | 87.28B | 63.78B | 90.02B | 40.92B | 62.28B |
| Net Income | 4.42B | -13.83B | 10.63B | -33.76B | 4.13B |
Balance Sheet | |||||
| Total Assets | 1.12T | 1.04T | 1.02T | 959.40B | 946.49B |
| Cash, Cash Equivalents and Short-Term Investments | 57.56B | 65.31B | 51.18B | 69.31B | 60.46B |
| Total Debt | 547.17B | 522.73B | 500.56B | 491.54B | 499.69B |
| Total Liabilities | 931.98B | 901.05B | 865.16B | 834.53B | 777.13B |
| Stockholders Equity | 151.22B | 108.06B | 124.28B | 97.04B | 145.29B |
Cash Flow | |||||
| Free Cash Flow | -1.82B | 0.00 | 3.87B | 9.39B | 10.58B |
| Operating Cash Flow | 40.03B | 0.00 | 58.77B | 48.51B | 45.06B |
| Investing Cash Flow | -38.97B | -42.44B | -43.51B | -34.65B | -22.79B |
| Financing Cash Flow | -14.66B | 8.51B | -48.08B | -7.89B | -20.82B |
Nippon Sheet Glass Company Technical Analysis
Negative
512.00
Price Trends
478.48
Negative
537.09
Negative
529.55
Negative
Market Momentum
-2.26
Positive
35.87
Neutral
13.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5202, the sentiment is Negative. The current price of 512 is above the 20-day moving average (MA) of 479.15, above the 50-day MA of 478.48, and below the 200-day MA of 529.55, indicating a bearish trend. The MACD of -2.26 indicates Positive momentum. The RSI at 35.87 is Neutral, neither overbought nor oversold. The STOCH value of 13.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5202.
Nippon Sheet Glass Company Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥10.89T | 27.69 | 8.97% | 1.38% | 9.20% | 90.68% | |
74 Outperform | ¥556.13B | 9.24 | 8.58% | 2.62% | 8.21% | 72.79% | |
70 Outperform | ¥805.67B | 49.00 | 7.20% | 2.41% | 3.37% | -62.36% | |
68 Neutral | ¥5.30T | 11.55 | 6.98% | 2.98% | 5.28% | 12.66% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ¥1.75T | 10.14 | 8.34% | 2.03% | 4.53% | 65.12% | |
48 Neutral | ¥67.59B | 10.65 | -8.11% | ― | 4.65% | ― |
* Consumer Cyclical Sector Average
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Nippon Sheet Glass Company Corporate Events
Nippon Sheet Glass Lifts FY2026 Profit on One-Off Tax Gain Despite Weaker Operations
May 11, 2026
Nippon Sheet Glass reported that revenue for the fiscal year ending March 2026 exceeded its previous forecast, driven mainly by stronger-than-expected sales prices in its European architectural segment and North American automotive business, as we...
NSG Group Unveils FY2026 Results and Strategic Outlook
May 11, 2026
NSG Group released its annual results for the financial year ended 31 March 2026, outlining performance for the FY2026/3 period. The company also presented its forecast for the year ending March 2027, signaling management’s outlook and plann...
Nippon Sheet Glass Returns to Profit but Keeps Dividends at Zero as Outlook Softens
May 11, 2026
Nippon Sheet Glass reported FY2026 revenue of ¥879.5 billion, up 4.6%, with operating profit surging 74.7% to ¥28.8 billion and a swing to a ¥4.4 billion profit attributable to owners, reversing a loss in the prior year. The company...
Nippon Sheet Glass Revises Details of Capital Restructuring and Control Change
Mar 31, 2026
Nippon Sheet Glass has issued a correction to its previously announced capital restructuring involving a third-party share allotment, share consolidation, and changes to its parent company and largest shareholder. The company now states that, foll...
Nippon Sheet Glass Revises Valuation Inputs in Capital Restructuring Plan
Mar 24, 2026
Nippon Sheet Glass has issued a partial correction to its March 24 announcement detailing a major capital restructuring that includes a third-party share allotment, debt-equity swap, share consolidation, and changes in its parent company and large...
Nippon Sheet Glass to Eliminate Class A Shares in Major Equity Conversion
Mar 24, 2026
Nippon Sheet Glass has received requests from all holders of its non-voting Class A shares to convert their holdings into common shares, triggering the acquisition and cancellation of all 22,644 Class A shares. In exchange, the company will issue ...
NSG Group Executives Take Voluntary Pay Cuts Amid Fundamental Initiatives
Mar 24, 2026
NSG Group, the global glass manufacturer based in Tokyo, has announced that its top executives, including President and CEO Munehiro Hosonuma, will voluntarily reduce their salaries. The move is presented as a demonstration of commitment to stakeh...
NSG Group to Go Private with Apollo-Backed Recapitalization and Major Debt Cut
Mar 24, 2026
Nippon Sheet Glass Company said it will receive a 165 billion yen capital injection from Apollo Funds via a third-party allotment of new shares, while key existing investors plan to convert preferred shares and back the plan at the annual meeting....
Apollo-backed recapitalization to take Nippon Sheet Glass private and overhaul capital structure
Mar 24, 2026
Nippon Sheet Glass plans a major recapitalization that will see funds managed by Apollo Global Management acquire control through a ¥165 billion third-party share allotment and subsequent share consolidation, making Apollo’s vehicle the...
Nippon Sheet Glass Confirms It Is Weighing Delisting-Linked Restructuring
Mar 23, 2026
Nippon Sheet Glass has acknowledged that a media report about a potential restructuring via delisting, backed by over 300 billion yen in financial support from Apollo and a consortium of banks, is mostly accurate. The company confirmed it is consi...
Nippon Sheet Glass to Swap Class A Shares for 1.5 Million Common Shares
Feb 27, 2026
Nippon Sheet Glass has disclosed that Japan Industrial Solutions Fund II, a holder of its non-voting Class A shares, has exercised its right to request the acquisition of part of those shares in exchange for common stock. As a result, the company ...
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.