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Nippon Electric Glass Co Ltd (JP:5214)
:5214

Nippon Electric Glass Co (5214) AI Stock Analysis

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JP:5214

Nippon Electric Glass Co

(5214)

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Outperform 76 (OpenAI - 5.2)
Rating:76Outperform
Price Target:
¥6,983.00
▼(-1.16% Downside)
Action:UpgradedDate:02/08/26
The score is driven primarily by improving financial performance alongside a conservatively leveraged balance sheet, complemented by strong technical momentum with price well above key moving averages. Offsetting factors are earnings and cash-flow cyclicality and a valuation that is reasonable but not clearly cheap.
Positive Factors
Conservative Leverage
A low and stable debt-to-equity (~0.19–0.24 into 2025) gives the company durable financial flexibility to absorb cyclical downturns, fund targeted capex for specialty glass capacity, and preserve investment optionality without relying heavily on external financing over the medium term.
Improved Profitability
Rebounding margins (net ~9.5%, EBITDA ~21.7% in 2025) reflect pricing power and a higher-value specialty product mix. Sustained margin improvement supports internal R&D and capacity investment, strengthening competitive positioning in electronics and industrial glass markets over multiple cycles.
Recent Free Cash Flow
Material operating cash flow and positive free cash flow in 2025 provide durable internal funding for maintenance and growth capex, working-capital needs, and shareholder returns. Strong FCF enhances resilience and the ability to invest in higher-margin specialty products.
Negative Factors
Cyclicality of Cash Flows
The business shows pronounced cyclical swings in operating and free cash flow, including negative OCF/FCF in 2023. Reliance on volatile downstream electronics demand and working-capital swings reduces predictability of cash returns and complicates multi-year planning for investment and distributions.
Moderate Return on Equity
ROE around 6% in 2025 signals only moderate capital efficiency. Without sustained higher margins or improved asset turnover, moderate returns constrain long-term shareholder value creation and suggest limited upside from operational leverage alone versus peers with stronger ROE.
Revenue Volatility
Top-line growth is uneven, with a rebound in 2025 but a sharp 2023 decline. Exposure to cyclical end markets and sensitivity to product mix mean revenue predictability is weak, complicating capacity planning and potentially pressuring margins during demand troughs.

Nippon Electric Glass Co (5214) vs. iShares MSCI Japan ETF (EWJ)

Nippon Electric Glass Co Business Overview & Revenue Model

Company DescriptionNippon Electric Glass Co., Ltd. manufactures and sells specialty glass products and glassmaking machinery in Japan, China, South Korea, the United States, Europe, and internationally. The company offers glasses substrates for FPD; glasses for chemical strengthening; glass fibers; thin film coatings; and glasses for optical devices and electronic devices. The company also provides heat resistant glasses; glass tubing for lighting, and pharmaceutical and medical use; and glasses for building materials. Nippon Electric Glass Co., Ltd. was incorporated in 1944 and is headquartered in Otsu, Japan.
How the Company Makes MoneyNippon Electric Glass generates revenue primarily through the sale of its specialty glass products across multiple industries. The company's key revenue streams include the production of glass substrates for LCDs, which are essential components in display technology, and glass products used in semiconductor manufacturing. Additionally, it earns revenue from automotive glass and architectural glass solutions. Significant partnerships with major electronics and automotive manufacturers enhance its market position and contribute to its earnings. The company's emphasis on research and development allows it to innovate and introduce new products, thereby expanding its market reach and driving sales growth.

Nippon Electric Glass Co Financial Statement Overview

Summary
Financials show a strong rebound in 2024–2025 with solid profitability (2025 net margin ~9.5%, EBITDA margin ~21.7%) and renewed revenue growth (~4.4% in 2025). Balance sheet leverage is conservative (debt-to-equity ~0.20) but results and cash flows have been cyclical, with mixed cash-flow reliability across the cycle (including negative OCF/FCF in 2023).
Income Statement
74
Positive
Profitability has rebounded meaningfully after a weak 2023 (loss-making year), with 2025 showing solid operating and net profitability (net margin ~9.5% and strong EBITDA margin ~21.7%). Revenue momentum has also improved, rising ~4.4% in 2025 after modest growth in 2024, though the multi-year trend is volatile (notably the 2023 revenue decline). Key risk is earnings cyclicality: results swung from strong profits (2021–2022) to a sharp downturn (2023) and then recovered (2024–2025).
Balance Sheet
82
Very Positive
Leverage appears conservative and improving, with debt-to-equity consistently around ~0.19–0.24 and ending 2025 at ~0.20, supported by a large equity base. Returns on equity recovered to ~6.0% in 2025 from depressed levels in 2023–2024, but overall returns remain moderate rather than high. The main watch item is that asset and equity levels have been relatively stable while profitability has been uneven, reinforcing the cyclical nature of the business.
Cash Flow
68
Positive
Cash generation is positive in the most recent years (operating cash flow ~52bn and free cash flow ~23bn in 2025), and 2024 also showed strong free cash flow. However, cash flow reliability is mixed across the cycle: 2023 saw negative operating and free cash flow, and 2022 had negative free cash flow despite positive operating cash flow. Additionally, recent cash conversion is only moderate, with free cash flow running at ~44% of net income in 2025, suggesting working-capital/capex swings can materially impact shareholder cash returns.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue298.31B311.40B299.24B279.97B324.63B292.03B
Gross Profit65.28B79.50B54.32B33.21B85.57B82.25B
EBITDA43.31B67.50B53.80B9.84B54.29B59.14B
Net Income-8.02B29.62B12.09B-26.19B28.17B27.90B
Balance Sheet
Total Assets658.93B701.41B695.16B703.92B747.91B698.13B
Cash, Cash Equivalents and Short-Term Investments112.19B120.71B123.96B75.40B107.15B134.97B
Total Debt99.94B97.39B111.27B118.34B103.53B94.82B
Total Liabilities195.59B205.23B207.60B213.79B219.00B198.39B
Stockholders Equity459.73B492.37B484.02B487.05B524.34B495.07B
Cash Flow
Free Cash Flow0.0023.08B35.06B-30.45B-28.44B34.82B
Operating Cash Flow0.0052.03B52.20B-1.36B31.56B69.88B
Investing Cash Flow0.00-10.40B42.60B-20.78B-57.16B-31.75B
Financing Cash Flow0.00-45.27B-48.83B-11.57B-5.87B-29.18B

Nippon Electric Glass Co Technical Analysis

Technical Analysis Sentiment
Positive
Last Price7065.00
Price Trends
50DMA
6385.89
Positive
100DMA
5940.06
Positive
200DMA
4926.10
Positive
Market Momentum
MACD
96.97
Negative
RSI
68.56
Neutral
STOCH
97.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5214, the sentiment is Positive. The current price of 7065 is above the 20-day moving average (MA) of 6380.80, above the 50-day MA of 6385.89, and above the 200-day MA of 4926.10, indicating a bullish trend. The MACD of 96.97 indicates Negative momentum. The RSI at 68.56 is Neutral, neither overbought nor oversold. The STOCH value of 97.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5214.

Nippon Electric Glass Co Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
¥570.26B17.99-0.30%2.16%1.90%-105.45%
75
Outperform
¥1.19T33.1114.01%1.08%19.45%41.03%
64
Neutral
¥31.67B-633.18-9.50%-170.30%
62
Neutral
$517.85B41.366.61%2.35%-9.06%-35.95%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
60
Neutral
¥28.93B17.093.48%2.38%3.53%10.37%
56
Neutral
¥63.58B64.52-0.07%4.00%0.12%-105.94%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JP:5214
Nippon Electric Glass Co
7,065.00
3,578.04
102.61%
JP:4186
Tokyo Ohka Kogyo Co
9,635.00
6,171.68
178.20%
JP:6728
ULVAC
10,515.00
5,269.10
100.44%
JP:7915
Nissha Co.Ltd.
1,354.00
-32.08
-2.31%
JP:5218
Ohara Inc.
1,188.00
152.06
14.68%
JP:7746
Okamoto Glass Co., Ltd.
1,088.00
917.00
536.26%

Nippon Electric Glass Co Corporate Events

Nippon Electric Glass Releases FY2025 Results and Updates on EGP2028 Plan
Feb 8, 2026

Nippon Electric Glass Co., Ltd. announced its financial results for fiscal year 2025, providing investors and stakeholders with an overview of the company’s recent performance. The disclosure sets the baseline for assessing how its specialty glass business is progressing in a changing demand environment.

The company also presented business and dividend forecasts for fiscal year 2026, outlining expectations for future operations and shareholder returns. In addition, it reported on the progress of its medium-term business plan EGP2028, signaling how current initiatives align with longer-term strategic goals and industry positioning.

The most recent analyst rating on (JP:5214) stock is a Buy with a Yen7919.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

Nippon Electric Glass Launches Up to ¥20 Billion Share Buyback Under EGP2028 Plan
Feb 6, 2026

Nippon Electric Glass Co., Ltd. has authorized a share repurchase program as part of its medium-term management plan “EGP2028,” aimed at strengthening capital efficiency and boosting shareholder returns. The board approved the buyback of up to 4 million common shares, representing 5.32% of outstanding shares excluding treasury stock, for a total amount of up to 20 billion yen via market purchases on the Tokyo Stock Exchange between February 9 and December 23, 2026, a move that is likely to support the share price, optimize the company’s capital structure, and signal management’s confidence to investors given its existing sizable treasury stock position.

The most recent analyst rating on (JP:5214) stock is a Buy with a Yen7100.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

Nippon Electric Glass Lifts 2025 Year-End Dividend Forecast, Boosting Annual Payout
Feb 6, 2026

Nippon Electric Glass has raised its forecast for the year-end dividend for the fiscal year ending December 31, 2025, increasing the planned payout by ¥5 to ¥80 per share, which will lift the total annual dividend to ¥150 per share, up ¥20 from the previous year’s ¥130. Management said the decision reflects its assessment of current operating results and financial position and is consistent with its policy of maintaining stable dividends while gradually expanding shareholder returns under its medium-term plan, balancing payouts with internal reserves to support future growth.

The most recent analyst rating on (JP:5214) stock is a Buy with a Yen7100.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

Nippon Electric Glass Posts Strong 2025 Profit Rebound, Lifts Dividend but Guides Lower for 2026
Feb 6, 2026

Nippon Electric Glass reported consolidated net sales of ¥311.4 billion for the fiscal year ended December 31, 2025, up 4.1% year on year, with operating profit surging more than fourfold to ¥34.1 billion and profit attributable to owners of parent jumping 144.9% to ¥29.6 billion. Profitability improved sharply, with operating margin rising to 11.0% and return on equity to 6.1%, while the equity ratio edged up to 70.2% and cash and cash equivalents remained robust at over ¥120 billion despite significant dividend and financing outflows. Reflecting the earnings recovery, the company raised its annual dividend to ¥150 per share for 2025 and forecasts a further increase to ¥160 in 2026, even as it projects modest top-line growth and a decline in operating and ordinary profit for 2026, suggesting expectations of a more challenging operating environment or normalization after a strong 2025. These results and guidance highlight a stronger financial base and continued shareholder returns, but also signal more moderate profit prospects ahead, which investors and other stakeholders will be watching closely.

The most recent analyst rating on (JP:5214) stock is a Buy with a Yen7100.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

Nippon Electric Glass Reshapes Board and Audit Line-Up Ahead of 2026 Shareholders’ Meeting
Dec 26, 2025

Nippon Electric Glass announced boardroom and audit committee changes to take effect following shareholder approval at the Ordinary General Meeting on March 27, 2026, appointing Shiga University economics professor and executive vice president Katsura Nakano as a new outside director and certified public accountant Yuichiro Katsura as a new outside corporate auditor, while current outside director Hiroyuki Ito and outside corporate auditor Yukihiro Yagura will retire. The updated governance structure, which details the distribution of responsibilities among directors, corporate auditors, and executive officers across key business lines such as glass fiber, electronic products, display glass, thin films, and consumer glass, underscores the company’s focus on strengthening oversight, specialized expertise, and operational leadership as it manages its diversified global glass businesses.

The most recent analyst rating on (JP:5214) stock is a Hold with a Yen5833.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

Nippon Electric Glass Announces Executive Restructuring for 2026
Nov 27, 2025

Nippon Electric Glass Co., Ltd. announced changes in its executive officers, effective January 1, 2026. These changes include new appointments and retirements, which are part of the company’s strategic realignment to enhance its operational efficiency and market competitiveness. The restructuring is expected to impact various business segments, including consumer glass products and glass fiber, positioning the company for future growth and improved stakeholder engagement.

The most recent analyst rating on (JP:5214) stock is a Buy with a Yen6300.00 price target. To see the full list of analyst forecasts on Nippon Electric Glass Co stock, see the JP:5214 Stock Forecast page.

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.Date of analysis: Feb 08, 2026