Nihon Kohden Corporation (JP:6849)
:6849
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Nihon Kohden Corporation
(6849)
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Rating:65Neutral
Price Target:
¥1,564.00
▼(-7.07% Downside)
Action:ReiteratedDate:02/07/26
The score is primarily supported by solid revenue growth and a strong, low-leverage balance sheet. It is held back by weaker cash-flow consistency and margin compression, along with bearish technical signals (below major moving averages and negative MACD). Valuation is fair-to-slightly expensive (P/E ~22.8) with only a modest dividend yield (~1.94%).
Positive Factors
Revenue Growth Momentum
Sustained TTM revenue growth of ~8.7% indicates ongoing demand for core monitoring and diagnostic products. Durable top-line expansion supports recurring consumable and service sales from the installed base, enabling multi-quarter revenue visibility and reinvestment in product development.
Negative Factors
Net Margin Compression
Trailing net margin near 5.4% and year-on-year compression indicate rising cost pressure or unfavorable product mix. Persisting margin erosion reduces retained earnings available for capex and dividends and weakens profitability resilience against slower demand or higher input costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained TTM revenue growth of ~8.7% indicates ongoing demand for core monitoring and diagnostic products. Durable top-line expansion supports recurring consumable and service sales from the installed base, enabling multi-quarter revenue visibility and reinvestment in product development.
Read all positive factors
Nihon Kohden Corporation (6849) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥255.67B
Dividend Yield1.92%
Average Volume (3M)516.53K
Price to Earnings (P/E)36.4
Beta (1Y)0.83
Revenue Growth4.31%
EPS Growth96.31%
CountryJP
Employees5,891
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)11.57
Shares Outstanding170,961,960
10 Day Avg. Volume572,580
30 Day Avg. Volume516,533
Financial Highlights & Ratios
PEG Ratio-1.46
Price to Book (P/B)1.85
Price to Sales (P/S)1.48
P/FCF Ratio40.78
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)94.96
Revenue Forecast (FY)¥231.54B
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 primarily by selling medical devices and related accessories and services to healthcare providers and distributors. The company’s key revenue streams typically include: (1) Capital equipment sales—one-time revenue from the...
Nihon Kohden Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 230.96B | 225.42B | 221.99B | 206.60B | 205.13B | 199.73B |
| Gross Profit | 119.81B | 114.30B | 108.57B | 103.27B | 106.73B | 100.05B |
| EBITDA | 23.83B | 24.90B | 23.45B | 24.91B | 34.48B | 31.64B |
| Net Income | 12.37B | 14.10B | 17.03B | 17.11B | 23.43B | 18.24B |
Balance Sheet | ||||||
| Total Assets | 246.76B | 258.28B | 233.23B | 216.73B | 210.20B | 193.03B |
| Cash, Cash Equivalents and Short-Term Investments | 44.00B | 43.43B | 50.43B | 44.46B | 60.92B | 44.61B |
| Total Debt | 25.55B | 26.08B | 654.00M | 441.00M | 359.00M | 404.00M |
| Total Liabilities | 74.23B | 76.98B | 52.15B | 49.12B | 53.82B | 54.04B |
| Stockholders Equity | 172.53B | 179.55B | 181.08B | 167.60B | 156.38B | 138.99B |
Cash Flow | ||||||
| Free Cash Flow | 13.18B | 8.16B | 11.98B | -9.97B | 23.25B | 11.02B |
| Operating Cash Flow | 21.47B | 15.29B | 15.61B | -2.51B | 25.70B | 13.95B |
| Investing Cash Flow | -8.38B | -25.14B | -5.21B | -7.65B | -4.30B | -2.95B |
| Financing Cash Flow | -9.07B | 2.55B | -6.97B | -7.49B | -7.30B | -3.01B |
Nihon Kohden Corporation Technical Analysis
Neutral
1683.00
Price Trends
1592.74
Negative
1618.48
Negative
1647.36
Negative
Market Momentum
-11.83
Negative
52.49
Neutral
88.16
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 1498.56, above the 50-day MA of 1592.74, and above the 200-day MA of 1647.36, indicating a neutral trend. The MACD of -11.83 indicates Negative momentum. The RSI at 52.49 is Neutral, neither overbought nor oversold. The STOCH value of 88.16 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥19.73B | 15.12 | ― | 3.02% | -4.36% | -14.92% | |
69 Neutral | ¥35.25B | 10.15 | ― | 2.93% | 6.72% | 20.01% | |
68 Neutral | ¥113.08B | 26.70 | ― | 2.31% | 4.36% | 79.43% | |
65 Neutral | ¥255.67B | 36.37 | ― | 1.92% | 4.31% | 96.31% | |
63 Neutral | ¥14.51B | 14.76 | ― | 3.12% | 3.59% | -163.08% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ¥136.36B | 28.05 | 2.42% | 3.73% | 0.04% | ― |
* Healthcare Sector Average
JP:6849
Nihon Kohden Corporation
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Nihon Kohden Corporation Corporate Events
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...
Nihon Kohden Extends Career Support Program and Books ¥2.4 Billion in Early Retirement Costs
Feb 5, 2026
Nihon Kohden has partially revised its previously announced Career Change Support Program and Next Career Support Program for employees, which target staff in Japan, including those engaged in its Abbott business and those meeting certain age and ...
Nihon Kohden Cuts FY2025 Sales and Profit Outlook on Weaker Domestic Demand
Feb 5, 2026
Nihon Kohden revised its consolidated financial forecast for the fiscal year ending March 31, 2026, cutting expected net sales to ¥235 billion from ¥240 billion and operating income to ¥20 billion from ¥24 billion, while keepin...
Nihon Kohden Cuts FY2025 Forecast as Domestic Weakness and Costs Hit Profit
Feb 5, 2026
Nihon Kohden reported consolidated results for the first nine months of FY2025 showing overall sales growth of 3.5% year on year, driven by double-digit overseas sales increases in North America, Europe, and Asia, while domestic sales fell 0.9% am...
Nihon Kohden Cuts Profit Outlook but Lifts Dividend as FY2025 Q3 Earnings Weaken
Feb 5, 2026
Nihon Kohden reported weaker results for the first nine months of FY2025, with declines in operating income, ordinary income and profit attributable to owners of the parent compared with the same period a year earlier, and a drop in equity capital...
Nihon Kohden Reports January Status of Ongoing Share Buyback Program
Feb 2, 2026
Nihon Kohden has reported the status of its ongoing share buyback program authorized by its board in December 2025, confirming that no shares were repurchased during the period from January 1 to January 31, 2026, despite approval to acquire common...
Nihon Kohden to Acquire Majority Stake in Medical IT Firm DOWELL
Jan 14, 2026
Nihon Kohden has agreed to acquire a 90.3% stake in DOWELL Co., Ltd., a Sapporo-based developer of medical information systems for physicians and nurses, making it a consolidated subsidiary, while DOWELL’s founder Yoshihiro Shindo will retai...
Nihon Kohden Reports Progress on Multi-Billion Yen Share Buyback Program
Jan 5, 2026
Nihon Kohden Corporation has disclosed the progress of its previously announced share buyback program, reporting that it repurchased 718,200 common shares for a total of 1,107,823,500 yen between December 4 and December 31, 2025, via ToSTNeT-3 tra...
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.