Nihon Kohden Corporation (6849) AI Stock Analysis

• Market Cap: ¥300.00B
• Dividend Yield: 1.78%
• Average Volume (3M): 502.51K
• Price to Earnings (P/E): 21.9
• Beta (1Y): 0.73
• Revenue Growth: 4.43%
• EPS Growth: -1.39%
• Country: JP
• Employees: 5,891
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.84
• Shares Outstanding: 170,961,960
• 10 Day Avg. Volume: 647,280
• 30 Day Avg. Volume: 502,513
• PEG Ratio: -1.46
• Price to Book (P/B): 1.85
• Price to Sales (P/S): 1.48
• P/FCF Ratio: 40.78
• 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: ¥1,800.00
• Price Target Upside: -1.10% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 70 Outperform
• Price Target: ¥1,882.00 ▲(3.41% Upside)

Nihon Kohden Corporation scores well due to its strong financial performance, characterized by consistent revenue growth and a robust balance sheet. The technical analysis suggests moderate momentum, with the stock trading above key short-term moving averages. Valuation metrics indicate the stock is fairly valued, with a reasonable P/E ratio and a modest dividend yield. The absence of earnings call and corporate events data did not impact the overall score.

Nihon Kohden Corporation Business Overview & Revenue Model

Company Description

Nihon Kohden Corporation is a leading Japanese company that specializes in the development, manufacturing, and distribution of medical electronic equipment. Established in 1951 and headquartered in Tokyo, Japan, the company operates in sectors such as patient monitoring, healthcare information technology, and in vitro diagnostics. Nihon Kohden's core products include electroencephalographs, electrocardiographs, patient monitors, and other critical care devices, which are used in hospitals and medical institutions worldwide.

How the Company Makes Money

Nihon Kohden Corporation generates revenue primarily through the sale of its medical electronic equipment and related services. The company's key revenue streams include the production and distribution of patient monitoring systems, diagnostic and treatment equipment, and healthcare information technology solutions. Nihon Kohden also derives income from service contracts, maintenance agreements, and after-sales support, ensuring ongoing relationships with healthcare providers. Additionally, the company collaborates with various international partners and distributors to expand its market presence globally, contributing to its earnings from overseas sales.

Nihon Kohden Corporation Financial Statement Overview

Summary

Nihon Kohden Corporation shows a solid financial position with strong revenue growth and efficient cost management. The low leverage and high equity ratios underscore financial stability, while operational cash flows remain robust. However, declining net profit margins and free cash flow highlight areas for improvement.

Income Statement

Nihon Kohden Corporation has demonstrated strong revenue growth, with a 7.8% increase from 2023 to 2025. The company maintains a healthy gross profit margin around 50.7% in 2025, indicating efficient cost management. However, the net profit margin has slightly decreased from 7.7% in 2024 to 6.3% in 2025 due to increased expenses. The EBIT and EBITDA margins remain robust, showcasing operational efficiency.

Balance Sheet

The company exhibits a strong balance sheet with a low debt-to-equity ratio of 0.15 in 2025, reflecting prudent financial management and low leverage risk. Stockholders' equity has grown consistently, contributing to high equity ratio stability at 69.8%. Return on equity is healthy at 7.8%, although it has decreased from previous years due to lower net income.

Cash Flow

Nihon Kohden's cash flow management is commendable, with a positive operating cash flow to net income ratio of 1.08 in 2025, indicating strong cash generation from operations. The free cash flow to net income ratio has decreased, reflecting higher capital expenditures. Free cash flow has notably decreased by 24.6% in 2025 compared to 2024, pointing to increased investment activities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	229.22B	225.42B	221.99B	206.60B	205.13B	199.73B
Gross Profit	121.62B	114.30B	111.35B	105.93B	109.09B	102.23B
EBITDA	26.32B	25.91B	33.25B	28.52B	37.76B	31.64B
Net Income	13.47B	14.10B	17.03B	17.11B	23.43B	18.24B
Balance Sheet
Total Assets	247.07B	257.24B	233.23B	216.73B	210.20B	193.03B
Cash, Cash Equivalents and Short-Term Investments	44.51B	43.43B	50.43B	44.46B	60.92B	44.61B
Total Debt	26.03B	26.08B	654.00M	441.00M	359.00M	404.00M
Total Liabilities	69.54B	75.94B	52.15B	49.13B	53.82B	54.05B
Stockholders Equity	175.82B	179.55B	181.08B	167.60B	156.38B	138.98B
Cash Flow
Free Cash Flow	14.54B	8.16B	10.82B	-10.77B	22.77B	10.56B
Operating Cash Flow	21.74B	15.29B	15.61B	-2.51B	25.70B	13.95B
Investing Cash Flow	-25.18B	-25.14B	-5.21B	-7.65B	-4.30B	-2.95B
Financing Cash Flow	2.55B	2.55B	-6.97B	-7.49B	-7.30B	-3.01B

Nihon Kohden Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1820.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6849, the sentiment is Positive. The current price of 1820 is above the 20-day moving average (MA) of 1717.90, above the 50-day MA of 1680.62, and below the 200-day MA of 1845.18, indicating a neutral trend. The MACD of 24.10 indicates Negative momentum. The RSI at 69.05 is Neutral, neither overbought nor oversold. The STOCH value of 94.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6849.

Nihon Kohden Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5187	78 Outperform	¥9.18B	12.30	―	3.67%	3.38%	88.65%
6678	74 Outperform	¥16.35B	15.69	―	3.52%	-8.07%	-38.21%
6823	73 Outperform	¥32.31B	10.57	―	2.72%	7.99%	28.81%
6849	70 Outperform	¥300.00B	21.87	―	1.78%	4.43%	-1.39%
4549	63 Neutral	¥76.91B	35.04	―	2.33%	3.80%	6.68%
6523	54 Neutral	€123.43B	10.85	8.31%	4.32%	0.70%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Nihon Kohden Corporation Corporate Events

Nihon Kohden Completes Treasury Stock Disposal for Executive Remuneration

Nihon Kohden Corporation has completed the payment procedures for the disposal of 44,118 shares of treasury stock as restricted stock remuneration, following a board resolution. This move, involving a total disposal value of 75,287,367 yen, is part of the company’s strategy to align executive compensation with long-term performance, potentially impacting its governance and stakeholder relations.

The most recent analyst rating on (JP:6849) stock is a Hold with a Yen1700.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.

Nihon Kohden Announces Restricted Stock Disposal to Boost Corporate Value

Nihon Kohden Corporation has announced the disposal of treasury stock as part of a Restricted Stock Remuneration Plan. This plan aims to incentivize directors and operating officers by aligning their interests with shareholders and enhancing corporate value. The disposal involves 44,118 shares at a total value of 75,287,367 yen, with shares allocated to directors and officers based on their contributions to the company. This move is expected to strengthen the company’s governance and stakeholder alignment.

The most recent analyst rating on (JP:6849) stock is a Hold with a Yen1700.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.

Nihon Kohden to Fully Acquire Subsidiary NeuroAdvanced Corp.

Nihon Kohden Corporation announced its decision to acquire additional shares of its subsidiary, NeuroAdvanced Corp. (NAC), making it a wholly owned subsidiary. This acquisition follows a put option exercised by NeuroNewCo, LP, allowing Nihon Kohden to purchase the remaining 28.6% shares of NAC. The acquisition, scheduled for completion on July 9, 2025, will have a minor impact on the company’s consolidated results for FY2025, as NAC and its subsidiary Ad-Tech are already consolidated entities.

The most recent analyst rating on (JP:6849) stock is a Sell with a Yen1500.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.

Nihon Kohden Announces Change in Largest Shareholder

Nihon Kohden Corporation announced a change in its largest shareholder, with Sprucegrove Investment Management Ltd. now holding a reduced share of 9.76% as of May 16, 2025, down from 10.88% previously. This change, confirmed by a Report of Possession of Large Volume submitted to the Kanto Local Finance Bureau, may influence the company’s shareholder dynamics but does not immediately affect its operational outlook.

The most recent analyst rating on (JP:6849) stock is a Hold with a Yen1700.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.

Nihon Kohden Corrects Financial Highlights for FY2025

Nihon Kohden Corporation announced a correction to its Consolidated Financial Highlights for the fiscal year ended March 31, 2025, due to errors discovered post-announcement. This correction pertains to the Financial Condition section, which may impact stakeholders’ understanding of the company’s financial health and future strategy.

The most recent analyst rating on (JP:6849) stock is a Hold with a Yen1700.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.

Nihon Kohden Corrects Financial Results for FY2025

Nihon Kohden Corporation announced corrections to its consolidated financial results for the fiscal year ended March 31, 2025, due to errors in the calculation of income taxes and tax effects. The corrections resulted in adjustments to the Consolidated Balance Sheets and Non-Consolidated Balance Sheets, increasing both total assets and liabilities without affecting net assets. This announcement highlights the company’s commitment to transparency and accuracy in financial reporting, which is crucial for maintaining stakeholder trust and ensuring compliance with financial regulations.

The most recent analyst rating on (JP:6849) stock is a Hold with a Yen1700.00 price target. To see the full list of analyst forecasts on Nihon Kohden Corporation stock, see the JP:6849 Stock Forecast page.