NHK Spring Co., Ltd. (JP:5991)
:5991
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NHK Spring Co., Ltd.
(5991)
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Rating:78Outperform
Price Target:
¥3,357.00
▲(33.35% Upside)
Action:Reiterated
Date:05/12/26
The score is driven primarily by solid underlying financial strength led by a conservatively levered, strengthening balance sheet and improved profitability versus earlier years, tempered by volatility in earnings and free cash flow. Technicals are supportive with the stock trading above key moving averages and positive momentum indicators. Valuation is also favorable with a low P/E and a moderate dividend yield.
Positive Factors
Balance-sheet strength
Sustained low leverage, falling debt in 2026 and steadily growing equity provide durable financial flexibility. That stronger capital base supports resilience through automotive cycles, funds capex or working capital needs, and reduces refinancing risk, enabling steady long-term operations and strategic optionality.
Negative Factors
Earnings and FCF volatility
Marked year-to-year swings in net income and free cash flow undermine predictability of returns and make multi-year planning harder. Volatility likely ties to cyclical auto demand, raw-material pass-through and program timing, raising execution and forecasting risk for capital allocation and stakeholder expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Sustained low leverage, falling debt in 2026 and steadily growing equity provide durable financial flexibility. That stronger capital base supports resilience through automotive cycles, funds capex or working capital needs, and reduces refinancing risk, enabling steady long-term operations and strategic optionality.
Read all positive factors
NHK Spring Co., Ltd. (5991) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥692.20B
Dividend Yield2.6%
Average Volume (3M)1.25M
Price to Earnings (P/E)45.4
Beta (1Y)1.02
Revenue Growth1.89%
EPS Growth-39.75%
CountryJP
Employees17,739
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)203.03
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
¥3,120.00Price Target Upside23.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)229.08
Revenue Forecast (FY)¥845.52B
NHK Spring Co., Ltd. Business Overview & Revenue Model
Company Description
NHK Spring Co., Ltd. provides automobile, data communications, and industry and lifestyle products in Japan and internationally. The company operates through four segments: Automotive Suspension Springs; Automotive Seating; Precision Springs and C...
How the Company Makes Money
NHK Spring makes money primarily by manufacturing and selling springs and related functional components to OEM customers and tiered suppliers, with automotive end-markets representing its main demand driver. Its revenue model is largely product-sa...
NHK Spring Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
83
Very Positive
Cash Flow
68
Positive
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 807.87B | 816.88B | 801.70B | 766.93B | 693.25B | 586.90B |
| Gross Profit | 112.80B | 113.74B | 113.06B | 89.42B | 80.84B | 73.80B |
| EBITDA | 80.15B | 45.78B | 81.48B | 63.32B | 57.38B | 49.66B |
| Net Income | 42.09B | 27.86B | 48.17B | 39.19B | 21.54B | 32.00B |
Balance Sheet | ||||||
| Total Assets | 701.61B | 728.71B | 708.50B | 700.21B | 618.42B | 598.50B |
| Cash, Cash Equivalents and Short-Term Investments | 117.14B | 108.40B | 97.23B | 103.22B | 72.95B | 92.13B |
| Total Debt | 97.50B | 64.27B | 72.29B | 51.09B | 51.77B | 50.87B |
| Total Liabilities | 288.69B | 282.76B | 285.32B | 279.63B | 252.56B | 259.65B |
| Stockholders Equity | 397.65B | 430.54B | 407.68B | 405.02B | 349.22B | 322.62B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 37.60B | 13.55B | 33.39B | -12.89B | 11.13B |
| Operating Cash Flow | 0.00 | 77.45B | 55.71B | 66.71B | 13.66B | 34.51B |
| Investing Cash Flow | 0.00 | -41.61B | -47.78B | -10.35B | -41.76B | 4.99B |
| Financing Cash Flow | 0.00 | -26.95B | -23.63B | -21.00B | -11.55B | -27.66B |
NHK Spring Co., Ltd. Technical Analysis
Positive
2517.50
Price Trends
2802.58
Positive
2779.53
Positive
2511.85
Positive
Market Momentum
168.99
Negative
61.38
Neutral
46.07
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 3123.50, below the 50-day MA of 2802.58, and above the 200-day MA of 2511.85, indicating a bullish trend. The MACD of 168.99 indicates Negative momentum. The RSI at 61.38 is Neutral, neither overbought nor oversold. The STOCH value of 46.07 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥692.20B | 45.41 | ― | 2.60% | 1.89% | -39.75% | |
70 Outperform | ¥95.38B | 24.87 | ― | 1.61% | 0.65% | 569.87% | |
66 Neutral | ¥643.19B | -13.88 | 3.35% | 3.18% | 2.15% | -6.81% | |
64 Neutral | ¥200.80B | 6.35 | 13.11% | 2.87% | 9.86% | 119.04% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ¥403.46B | -20.09 | 3.70% | 3.42% | 4.24% | 39.02% | |
55 Neutral | ¥403.84B | 135.95 | ― | 1.93% | <0.01% | -83.75% |
* Consumer Cyclical Sector Average
JP:5991
NHK Spring Co., Ltd.
3,366.00
1,835.13
119.87%
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NHK Spring Co., Ltd. Corporate Events
NHK Spring Balances Profit Slump With Steady Dividends and Overseas Expansion
May 11, 2026
NHK Spring reported a 1.9% increase in consolidated net sales to ¥816.9 billion for the fiscal year ended March 31, 2026, but operating profit fell 12.2% and ordinary profit declined 10.0%, with profit attributable to owners of the parent plu...
NHK Spring Books Asset Impairments but Delivers Higher Non-Consolidated Profit
May 11, 2026
NHK Spring reported consolidated net sales of ¥816.9 billion for the year ended March 31, 2026, slightly above its prior forecast, but profits fell short as net income attributable to owners dropped to ¥27.9 billion. The shortfall was dr...
NHK Spring Board Rejects Governance-Related Shareholder Proposals
May 11, 2026
NHK Spring Co., Ltd. has received shareholder proposals from LONGCHAMP SICA V to amend its Articles of Incorporation regarding the composition of external directors and the record dates for annual general meetings. After deliberation on May 11, 20...
NHK Spring Posts Higher Profits, Keeps Forecasts and Dividend Plan Intact
Feb 12, 2026
NHK Spring reported consolidated net sales of ¥596.4 billion for the nine months ended December 31, 2025, with operating profit of ¥31.4 billion and profit attributable to owners of parent of ¥25.2 billion, marking significant year-...
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.