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Nihon Kohden Corporation
(6849)
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Rating:61Neutral
Price Target:
¥1,737.00
▲(3.21% Upside)
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
Recurring revenue from consumables & services
Nihon Kohden's business mixes durable equipment sales with recurring consumables and maintenance contracts, creating steady, predictable revenue from an installed base. That steady annuity-like cash flow smooths cycles in capital equipment purchases and supports long-term margin visibility and reinvestment.
Negative Factors
Meaningful margin compression
Sustained margin decline indicates structural cost pressure or adverse product/mix shifts. Falling operating profitability reduces retained cash for growth investments and dividends, pressures returns on equity, and makes the business more sensitive to economic or reimbursement headwinds over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue from consumables & services
Nihon Kohden's business mixes durable equipment sales with recurring consumables and maintenance contracts, creating steady, predictable revenue from an installed base. That steady annuity-like cash flow smooths cycles in capital equipment purchases and supports long-term margin visibility and reinvestment.
Read all positive factors
Nihon Kohden Corporation (6849) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥260.75B
Dividend Yield2.01%
Average Volume (3M)516.53K
Price to Earnings (P/E)17.8
Beta (1Y)0.77
Revenue Growth4.29%
EPS Growth3.92%
CountryJP
Employees6,116
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)89.25
Shares Outstanding167,961,960
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 Target
¥1,800.00Price Target Upside6.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)97.35
Revenue Forecast (FY)¥232.24B
Nihon Kohden Corporation Business Overview & Revenue Model
Company Description
Nihon Kohden Corporation, founded in 1951 and headquartered in Tokyo, Japan, is a global leader in healthcare technology. The company’s core operations encompass the research, development, manufacturing, sales, repair, and maintenance of advanced ...
How the Company Makes Money
Nihon Kohden primarily makes money by selling medical devices and the recurring items and services tied to them. The largest revenue stream is the sale of durable capital equipment (e.g., bedside/central patient monitors, defibrillators and AED-re...
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 | 26.09B | 25.90B | 33.25B | 28.52B | 37.76B |
| 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
Negative
1683.00
Price Trends
1469.48
Positive
1479.83
Positive
1576.73
Negative
Market Momentum
32.91
Positive
49.67
Neutral
31.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6849, the sentiment is Negative. The current price of 1683 is above the 20-day moving average (MA) of 1555.85, above the 50-day MA of 1469.48, and above the 200-day MA of 1576.73, indicating a neutral trend. The MACD of 32.91 indicates Positive momentum. The RSI at 49.67 is Neutral, neither overbought nor oversold. The STOCH value of 31.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6849.
Nihon Kohden Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥41.06B | 11.94 | ― | 2.93% | 2.15% | 12.47% | |
78 Outperform | ¥17.10B | 12.92 | ― | 3.02% | 13.43% | 7.14% | |
61 Neutral | ¥260.75B | 17.82 | ― | 1.92% | 4.29% | 3.92% | |
57 Neutral | ¥70.91B | 19.95 | ― | 2.28% | 2.94% | 57.05% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ¥22.70B | -102.99 | ― | 3.12% | -6.64% | 67.08% | |
47 Neutral | ¥140.05B | 285.71 | 0.33% | 3.73% | 0.78% | -95.37% |
* General Sector Average
JP:6849
Nihon Kohden Corporation
1,533.00
-103.55
-6.33%
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Nihon Kohden Corporation Corporate Events
Nihon Kohden Completes Restricted Stock Disposal for Executive Remuneration
Jul 31, 2026
Nihon Kohden has completed the payment procedures for the disposal of treasury stock used as non-performance-linked, pre-delivery restricted stock remuneration to its management. The transaction covers 60,195 common shares at 1,500 yen per share, ...
Nihon Kohden Uses Treasury Stock to Strengthen Executive Incentives
Jul 7, 2026
Nihon Kohden Corporation has approved a disposal of 60,195 shares of its treasury stock as restricted stock remuneration to four directors and fifteen operating officers, valued at 1,500 yen per share for a total of 90,292,500 yen. The shares are ...
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...
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.