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NHK Spring Co., Ltd.
(5991)
Select Model
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Rating:69Neutral
Price Target:
¥4,066.00
▲(61.51% Upside)
Action:Downgraded
Date:08/17/26
The score is primarily supported by solid financial performance—especially a conservatively levered, strengthening balance sheet and multi-year revenue growth—tempered by volatility in profits and free cash flow. Technical indicators are mixed with neutral momentum, and valuation is moderate-to-elevated given the P/E, with only modest support from the dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial flexibility for investment and resilience through industry downturns. Debt reduction also lowers balance-sheet risk while supporting the company’s ability to fund ongoing operations.
Negative Factors
Earnings volatility
Recent profit deterioration and uneven margins reduce confidence in earnings durability. Persistent sensitivity to product mix, utilization, and automotive demand could limit the company’s ability to convert revenue growth into consistently expanding profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial flexibility for investment and resilience through industry downturns. Debt reduction also lowers balance-sheet risk while supporting the company’s ability to fund ongoing operations.
Read all positive factors
NHK Spring Co., Ltd. (5991) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥752.16B
Dividend Yield1.78%
Average Volume (3M)1.25M
Price to Earnings (P/E)21.7
Beta (1Y)1.19
Revenue Growth3.12%
EPS Growth-15.85%
CountryJP
Employees18,121
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)137.47
Shares Outstanding231,066,150
10 Day Avg. Volume1,303,700
30 Day Avg. Volume1,251,866
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)1.14
Price to Sales (P/S)0.60
P/FCF Ratio13.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,470.00Price Target Upside77.56% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)234
Revenue Forecast (FY)¥864.15B
NHK Spring Co., Ltd. Business Overview & Revenue Model
Company Description
NHK Spring Co., Ltd., a global enterprise established in 1936 and headquartered in Yokohama, Japan, specializes in manufacturing and supplying a diverse array of products for the automotive, data communications, industrial, and lifestyle sectors. ...
How the Company Makes Money
NHK Spring makes money mainly by manufacturing and selling components, with revenue largely driven by volumes shipped to OEM customers and contracted supply programs. Key revenue streams generally include: (1) Suspension/Chassis-related products: ...
NHK Spring Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
83
Very Positive
Cash Flow
68
Positive
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 816.88B | 801.70B | 766.93B | 693.25B | 586.90B |
| Gross Profit | 113.74B | 113.06B | 89.42B | 80.84B | 73.80B |
| EBITDA | 81.37B | 89.33B | 85.68B | 59.45B | 78.76B |
| Net Income | 27.86B | 48.17B | 39.19B | 21.54B | 32.00B |
Balance Sheet | |||||
| Total Assets | 728.71B | 708.50B | 700.21B | 618.42B | 598.50B |
| Cash, Cash Equivalents and Short-Term Investments | 108.40B | 97.23B | 103.22B | 72.95B | 92.13B |
| Total Debt | 64.47B | 72.29B | 51.09B | 51.77B | 50.87B |
| Total Liabilities | 282.76B | 285.32B | 279.63B | 252.56B | 259.65B |
| Stockholders Equity | 430.54B | 407.68B | 405.02B | 349.22B | 322.62B |
Cash Flow | |||||
| Free Cash Flow | 37.60B | 13.55B | 33.39B | -12.89B | 11.13B |
| Operating Cash Flow | 77.45B | 55.71B | 66.71B | 13.66B | 34.51B |
| Investing Cash Flow | -41.61B | -47.78B | -10.35B | -41.76B | 4.99B |
| Financing Cash Flow | -26.95B | -23.63B | -21.00B | -11.55B | -27.66B |
NHK Spring Co., Ltd. Technical Analysis
Positive
2517.50
Price Trends
3782.26
Negative
3348.11
Positive
3012.36
Positive
Market Momentum
-25.54
Negative
52.76
Neutral
66.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5991, the sentiment is Positive. The current price of 2517.5 is below the 20-day moving average (MA) of 3589.75, below the 50-day MA of 3782.26, and below the 200-day MA of 3012.36, indicating a neutral trend. The MACD of -25.54 indicates Negative momentum. The RSI at 52.76 is Neutral, neither overbought nor oversold. The STOCH value of 66.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5991.
NHK Spring Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥186.47B | 7.87 | 12.23% | 2.87% | 11.33% | 23.30% | |
69 Neutral | ¥752.16B | 21.73 | ― | 2.60% | 3.12% | -15.85% | |
65 Neutral | ¥94.24B | 7.71 | ― | 1.61% | 1.06% | 720.59% | |
63 Neutral | ¥400.43B | 18.86 | 4.95% | 3.70% | 7.17% | 12.68% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ¥682.35B | 35.36 | 1.57% | 2.96% | 4.64% | 106.98% | |
49 Neutral | ¥237.70B | 164.10 | ― | 1.93% | 3.50% | -77.77% |
* Consumer Cyclical Sector Average
JP:5991
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NHK Spring Co., Ltd. Corporate Events
NHK Spring Posts Strong First-Quarter Profit and Keeps Full-Year Outlook Intact
Aug 6, 2026
NHK Spring reported consolidated net sales of ¥216.2 billion for the first quarter of the fiscal year ending March 31, 2027, an 8.1% increase from a year earlier, with operating profit of ¥14.4 billion and ordinary profit of ¥15.7 b...
NHK Spring Loses One of Its Major Shareholders After Stake Sale
Jun 29, 2026
NHK Spring Co., Ltd. reported a change in its shareholder structure after a major shareholder, Mitsubishi UFJ Trust and Banking Corporation’s retirement benefit trust account for Daido Steel Co., Ltd., reduced its holdings. The trust sold 2,...
NHK Spring Revises FY2026 Results After Retirement Benefit Accounting Error
May 25, 2026
NHK Spring Co., Ltd. has corrected certain figures in its consolidated financial results for the fiscal year ended March 31, 2026, after identifying errors in accounting treatments related to retirement benefits. The revised statements show change...
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.