Nihon Kohden Corporation (JP:6849)
:6849
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Nihon Kohden Corporation
(6849)
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Rating:61Neutral
Price Target:
¥1,512.00
▼(-10.16% Downside)
Action:Reiterated
Date:05/15/26
The score is mainly supported by above-average financial quality (steady growth and generally healthy cash generation), but is held back by a clearly weak technical setup (below key moving averages with negative MACD) and a relatively expensive P/E that the dividend yield only partly offsets.
Positive Factors
Steady revenue growth
Revenue has grown consistently over the period with a strong step-up in 2024. Durable top-line growth supports expanding installed base, which underpins long-term demand for devices, services and consumables and improves visibility into future sales and cash generation.
Negative Factors
Meaningful margin compression
Sustained margin erosion reduces operating leverage and ROE, making earnings growth harder to achieve even with revenue growth. If structural cost pressures or adverse product mix persist, profitability and ability to fund reinvestment or dividends could be impaired over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Revenue has grown consistently over the period with a strong step-up in 2024. Durable top-line growth supports expanding installed base, which underpins long-term demand for devices, services and consumables and improves visibility into future sales and cash generation.
Read all positive factors
Nihon Kohden Corporation (6849) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥252.33B
Dividend Yield1.92%
Average Volume (3M)516.53K
Price to Earnings (P/E)16.3
Beta (1Y)0.84
Revenue Growth4.29%
EPS Growth3.92%
CountryJP
Employees5,891
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)89.25
Shares Outstanding170,961,960
10 Day Avg. Volume572,580
30 Day Avg. Volume516,533
Financial Highlights & Ratios
PEG Ratio3.16
Price to Book (P/B)1.32
Price to Sales (P/S)1.01
P/FCF Ratio15.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)98.36
Revenue Forecast (FY)¥231.01B
Nihon Kohden Corporation Business Overview & Revenue Model
Company Description
Nihon Kohden Corporation engages in research and development, production, sale, repair, and maintenance of medical electronic equipment in Japan, Americas, Europe, rest of Asia, and internationally. The company offers physiological measuring equip...
How the Company Makes Money
Nihon Kohden makes money mainly by selling medical devices to healthcare providers (e.g., hospitals, clinics, and emergency medical services) in Japan and international markets, and by generating recurring revenue tied to its installed base. Key r...
Nihon Kohden Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 235.10B | 225.42B | 221.99B | 206.60B | 205.13B |
| Gross Profit | 118.00B | 114.30B | 108.57B | 103.27B | 106.73B |
| EBITDA | 24.60B | 24.90B | 23.45B | 24.91B | 34.48B |
| Net Income | 14.51B | 14.10B | 17.03B | 17.11B | 23.43B |
Balance Sheet | |||||
| Total Assets | 256.54B | 258.28B | 233.23B | 216.73B | 210.20B |
| Cash, Cash Equivalents and Short-Term Investments | 46.70B | 43.43B | 50.43B | 44.46B | 60.92B |
| Total Debt | 25.20B | 26.08B | 654.00M | 441.00M | 359.00M |
| Total Liabilities | 76.71B | 76.98B | 52.15B | 49.12B | 53.82B |
| Stockholders Equity | 179.72B | 179.55B | 181.08B | 167.60B | 156.38B |
Cash Flow | |||||
| Free Cash Flow | 15.33B | 8.16B | 11.98B | -9.97B | 23.25B |
| Operating Cash Flow | 21.05B | 15.29B | 15.61B | -2.51B | 25.70B |
| Investing Cash Flow | -8.29B | -25.14B | -5.21B | -7.65B | -4.30B |
| Financing Cash Flow | -11.60B | 2.55B | -6.97B | -7.49B | -7.30B |
Nihon Kohden Corporation Technical Analysis
Neutral
1683.00
Price Trends
1491.55
Positive
1593.42
Negative
1625.40
Negative
Market Momentum
-3.56
Negative
57.16
Neutral
86.48
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6849, the sentiment is Neutral. The current price of 1683 is above the 20-day moving average (MA) of 1462.33, above the 50-day MA of 1491.55, and above the 200-day MA of 1625.40, indicating a neutral trend. The MACD of -3.56 indicates Negative momentum. The RSI at 57.16 is Neutral, neither overbought nor oversold. The STOCH value of 86.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:6849.
Nihon Kohden Corporation Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥45.81B | 7.62 | ― | 2.93% | 2.24% | 16.89% | |
78 Outperform | ¥17.51B | 15.06 | ― | 3.02% | 13.43% | 7.06% | |
61 Neutral | ¥252.33B | 16.30 | ― | 1.92% | 4.29% | 3.92% | |
56 Neutral | ¥21.30B | 53.77 | ― | 3.12% | -4.77% | ― | |
55 Neutral | ¥97.06B | 27.16 | ― | 2.31% | 3.35% | 74.40% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | ¥135.72B | -169.48 | 2.42% | 3.73% | 0.78% | -95.37% |
* Healthcare Sector Average
JP:6849
Nihon Kohden Corporation
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Nihon Kohden Corporation Corporate Events
Nihon Kohden to Cancel 3 Million Treasury Shares to Streamline Capital Structure
May 14, 2026
Nihon Kohden Corporation has resolved to cancel 3,000,000 of its treasury shares, representing 1.75% of the total shares outstanding prior to the transaction. Following the cancellation, scheduled for June 18, 2026, the company will have 167,961,9...
Nihon Kohden Lifts Profit Outlook as Global Network Expands Despite Modest Sales Growth
May 14, 2026
Nihon Kohden reported consolidated net sales of ¥235.1 billion for the fiscal year ended March 31, 2026, up 4.3% year on year, while operating income fell 9.5% to ¥18.7 billion and income attributable to owners of parent edged up 2.9% to...
Nihon Kohden Reshapes Board to Strengthen Governance and Oversight
Apr 24, 2026
Nihon Kohden announced board changes following a resolution passed on April 24, 2026, with formal approval scheduled for the June 25, 2026 shareholders meeting. The company has nominated former Terumo chairman Takayoshi Mimura as a new outside dir...
Nihon Kohden Completes ¥5 Billion Share Buyback Program
Mar 25, 2026
Nihon Kohden has completed a share repurchase program authorized by its board in December 2025, acquiring 1,364,900 common shares on the Tokyo Stock Exchange between March 1 and March 24, 2026 for about 2.1 billion yen via market purchases under a...
Nihon Kohden’s Early Retirement Programs Draw 152 Applicants, Set to Cut Future Costs
Mar 4, 2026
Nihon Kohden has reported the application results for its Career Change Support Program and Next Career Support Program for employees in Japan, which were offered to staff in its Abbott-related business and to eligible older employees at the paren...
Nihon Kohden Reports Progress on Share Buyback Program
Mar 2, 2026
Nihon Kohden Corporation has reported progress on its ongoing share buyback program authorized by its board in December 2025 under Japan’s Companies Act. Between February 1 and February 28, 2026, the company repurchased 1,052,800 common shar...
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.