Nomura Micro Science Co., Ltd. (6254) AI Stock Analysis

• Market Cap: ¥139.42B
• Dividend Yield: 2.86%
• Average Volume (3M): 755.66K
• Price to Earnings (P/E): 12.2
• Beta (1Y): 1.53
• Revenue Growth: 89.90%
• EPS Growth: 190.48%
• Country: JP
• Employees: 545
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): N/A
• Shares Outstanding: 40,608,000
• 10 Day Avg. Volume: 795,700
• 30 Day Avg. Volume: 755,656
• PEG Ratio: 0.33
• Price to Book (P/B): 2.45
• Price to Sales (P/S): 0.94
• P/FCF Ratio: -4.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥2,800.00
• Price Target Upside: -20.34% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: ¥3,501.00 ▼(-0.40% Downside)
• Action: Reiterated Date: 01/16/26
• Date: Action: Reiterated 01/16/26

Overall score is driven primarily by strong income-statement performance and an attractive valuation (low P/E with a dividend). The main risk tempering the score is weak cash-flow generation (negative operating and free cash flow), while technicals remain bullish but show overbought signals that could pressure the stock in the near term.

Positive Factors

Revenue Growth

Sustained, large revenue expansion indicates durable demand for UPW and industrial water systems. High growth supports scale, improves fixed-cost absorption, and underpins future recurring-service opportunities as installed bases expand in precision industries.

Margin Improvement

Improving gross and net margins plus solid EBIT/EBITDA point to structural operational efficiency gains. This enhances cash generation potential per revenue dollar, supports reinvestment capacity and resilience versus input cost swings over the medium term.

Recurring Services & Consumables

A business model combining EPC projects with recurring after-sales services and consumables creates predictable annuity-like revenue. Installed-base services lengthen customer relationships and raise lifetime value, smoothing cyclicality from project timing.

Negative Factors

Weak Cash Flow Generation

Persistent negative operating and free cash flow constrains internal funding for capex, working capital, and dividends. Even with improvement, deficit cash conversion risks reliance on external financing and limits strategic flexibility over coming quarters.

Rising Debt Levels

An uptick in total debt raises leverage and interest obligations, which can pressure margins and ROE if revenue growth slows. Higher debt reduces runways for opportunistic investment and heightens refinancing and liquidity risk in tighter credit conditions.

Cyclical End-Market Exposure

Concentration in semiconductor and electronics capex makes revenue and new-project bookings sensitive to customer investment cycles. Large EPC projects amplify cash and backlog volatility, so downturns in end-market capex can materially depress near-to-medium term revenue and margins.

Nomura Micro Science Co., Ltd. Business Overview & Revenue Model

Company Description

Nomura Micro Science Co., Ltd. engages in the design, installation, and sale of water treatment technologies in Japan, South Korea, Taiwan, China, and the United States. The company offers water treatment plants and equipment, including pure and ultra-pure water systems, pharmaceutical water production systems, wastewater treatment systems, and water reclamation systems. It also provides pretreatment systems, heat regenerative type membrane filtration equipment, coagulating sedimentation equipment, flocculation filtration, gravity filtration, and pressure filtration equipment, electrodeionization, ion exchange systems, reverse osmosis (RO) systems, vacuum and membrane degasifier, pure steam generators, package type purified water production systems, WFI production systems, ozone and hydrogen water production systems, and anti-static equipment. In addition, it offers return contamination monitor, H2O2 monitor, nuclepore membrane, filter cartridge, and piping and environmental materials; and site supply of pure water, and water analysis and evaluation services on a contract basis. The company serves electronics, pharmaceutical, biotechnology, food, environment and energy, and analysis industries. Nomura Micro Science Co., Ltd. was founded in 1969 and is headquartered in Atsugi, Japan.

How the Company Makes Money

Nomura Micro Science generates revenue primarily through the sale of its micro-precision components and systems to a diverse range of industries. Key revenue streams include direct sales to manufacturers in the electronics and telecommunications sectors, as well as partnerships with medical device companies for custom micro-engineered solutions. The company also engages in research and development collaborations, which may lead to additional funding and revenue opportunities through grants or joint ventures. Significant partnerships with leading technology firms enhance its market presence and contribute to its earnings by providing access to new markets and customers.

Nomura Micro Science Co., Ltd. Financial Statement Overview

Summary

Strong revenue growth and improving profit margins (solid EBIT/EBITDA) support a high score. Balance sheet is generally stable with moderate leverage and strong ROE, but rising debt warrants monitoring. Cash flow is the key drag, with negative operating cash flow and free cash flow despite improvement from 2024 to 2025.

Income Statement

Nomura Micro Science Co., Ltd. has exhibited strong revenue growth, with a notable increase in total revenue from 2024 to 2025. Gross profit and net profit margins have improved, indicating enhanced operational efficiency and profitability. The EBIT and EBITDA margins are solid, reflecting effective cost management and a healthy earnings profile.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, suggesting a balanced approach to leveraging. The return on equity is strong, driven by rising net income and shareholder equity. The equity ratio indicates a stable financial structure, though the increase in total debt in recent years warrants attention.

Cash Flow

The cash flow analysis reveals challenges, with negative free cash flow and operating cash flow over the recent periods. However, there is a significant improvement in free cash flow from 2024 to 2025. The company needs to address cash flow generation to ensure sustainable growth.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	101.13B	96.36B	73.02B	49.60B	31.90B	30.36B
Gross Profit	22.16B	21.11B	15.41B	10.37B	7.66B	7.13B
EBITDA	17.90B	16.95B	11.72B	7.70B	4.78B	3.77B
Net Income	10.25B	10.20B	7.98B	5.81B	3.29B	2.62B
Balance Sheet
Total Assets	103.87B	116.78B	70.60B	41.92B	27.09B	24.76B
Cash, Cash Equivalents and Short-Term Investments	18.89B	17.33B	12.14B	14.12B	10.08B	9.86B
Total Debt	47.98B	53.20B	22.40B	3.47B	2.69B	2.63B
Total Liabilities	68.92B	79.77B	41.68B	20.52B	11.16B	11.57B
Stockholders Equity	34.95B	37.01B	28.92B	21.40B	15.93B	13.19B
Cash Flow
Free Cash Flow	0.00	-22.31B	-19.02B	3.65B	771.34M	5.80B
Operating Cash Flow	0.00	-18.73B	-18.66B	4.68B	1.13B	5.96B
Investing Cash Flow	0.00	-2.74B	386.99M	64.81M	134.01M	-433.48M
Financing Cash Flow	0.00	27.18B	17.45B	-24.90M	-881.82M	-937.84M

Nomura Micro Science Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3515.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6254, the sentiment is Positive. The current price of 3515 is above the 20-day moving average (MA) of 3429.50, above the 50-day MA of 3319.40, and above the 200-day MA of 3017.48, indicating a bullish trend. The MACD of 30.69 indicates Negative momentum. The RSI at 54.31 is Neutral, neither overbought nor oversold. The STOCH value of 91.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6254.

Nomura Micro Science Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6284	77 Outperform	¥133.17B	17.51	―	3.24%	18.70%	33.93%
6490	76 Outperform	¥203.34B	22.58	―	2.50%	-2.46%	-10.72%
6482	74 Outperform	¥25.46B	27.46	―	2.77%	-4.47%	-24.47%
6254	73 Outperform	¥139.42B	12.20	―	2.86%	89.90%	190.48%
6340	71 Outperform	¥101.82B	11.48	―	2.64%	8.65%	-23.00%
6486	70 Outperform	¥163.34B	20.47	―	3.88%	1.70%	18.50%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Nomura Micro Science Co., Ltd. Corporate Events

Nomura Micro Science Posts Strong Nine-Month Earnings and Confirms Full-Year Outlook

Nomura Micro Science reported strong consolidated results for the nine months ended December 31, 2025, with net sales rising 28.9% year on year to ¥41.0 billion and profit attributable to owners of parent jumping 38.7% to ¥2.9 billion. Earnings per share also improved, while total assets remained above ¥100 billion and the equity ratio strengthened, reflecting a solid financial base.

The company kept its full-year forecast for fiscal 2026 unchanged, projecting net sales of ¥60.0 billion and profit attributable to owners of parent of ¥3.8 billion, implying substantial year-on-year growth. Dividend guidance remains intact at a total of ¥70 per share for the current fiscal year, signaling management’s confidence in earnings sustainability and providing continued income visibility for shareholders.

The most recent analyst rating on (JP:6254) stock is a Buy with a Yen3886.00 price target. To see the full list of analyst forecasts on Nomura Micro Science Co., Ltd. stock, see the JP:6254 Stock Forecast page.

Nomura Micro Science Extends Repayment Deadlines on Major U.S.-Dollar Loans

Nomura Micro Science Co., Ltd. has postponed the repayment dates on existing U.S. dollar-denominated loans tied to a large water treatment systems project in the United States. The decision, approved by its board on February 13, 2026, is intended to better align debt obligations with the group’s current cash flow position and ongoing working capital requirements.

The company kept all other loan terms unchanged, including lenders, interest rate structure, and lump-sum repayment at maturity, while extending the due date from February 27, 2026, to July 10, 2026, on borrowings of up to 200 million dollars and a separate 135 million dollar facility. Management expects the impact on fiscal 2026 performance to be minor, suggesting the move is a tactical liquidity adjustment rather than a sign of material financial stress for stakeholders.

The most recent analyst rating on (JP:6254) stock is a Buy with a Yen3886.00 price target. To see the full list of analyst forecasts on Nomura Micro Science Co., Ltd. stock, see the JP:6254 Stock Forecast page.

Nomura Micro Science Delivers Strong Nine-Month Earnings but Guides for Softer Full-Year

Nomura Micro Science reported strong consolidated results for the nine months ended December 31, 2025, with net sales rising 28.9% year-on-year to ¥41.0 billion and profit attributable to owners of parent jumping 38.7% to ¥2.9 billion, lifting earnings per share to ¥75.43. The balance sheet also improved, as total assets reached ¥109.7 billion and the equity ratio climbed to 34.6%, while the company maintained its dividend plan with an annual forecast of ¥70 per share for the fiscal year ending March 31, 2026.

Despite the robust nine-month performance, Nomura Micro Science is guiding for a sharp year-on-year decline in full-year results due to an exceptionally strong prior year, forecasting fiscal 2026 net sales of ¥60.0 billion and profit attributable to owners of parent of ¥3.8 billion, both down more than 37%. The unchanged guidance and dividend forecast signal management’s confidence in cash flow stability, but also suggest a normalization in demand and profitability that investors will watch closely as the company navigates its cyclical markets.

The most recent analyst rating on (JP:6254) stock is a Buy with a Yen3886.00 price target. To see the full list of analyst forecasts on Nomura Micro Science Co., Ltd. stock, see the JP:6254 Stock Forecast page.

Nomura Micro Science Delays Loan Repayments for U.S. Water Treatment Project

Nomura Micro Science Co., Ltd. has decided to revise the repayment dates on U.S. dollar-denominated loans tied to working capital for a large water treatment systems project handled by its U.S. subsidiary. The move reflects the group’s current cash flow considerations and aims to better align debt maturity with project funding requirements.

The company obtained consent from its lenders, including Resona Bank, MUFG Bank and Sumitomo Mitsui Banking Corporation, to push back repayment on a maximum of USD 200 million and a separate USD 135 million loan from February 27, 2026 to July 10, 2026. Nomura Micro Science stated that the impact of the rescheduled repayments on its fiscal 2026 performance will be minor, suggesting limited near-term earnings or balance sheet pressure for stakeholders.

The most recent analyst rating on (JP:6254) stock is a Buy with a Yen3886.00 price target. To see the full list of analyst forecasts on Nomura Micro Science Co., Ltd. stock, see the JP:6254 Stock Forecast page.