Nichicon Corporation (JP:6996)
:6996
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Nichicon Corporation
(6996)
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Rating:62Neutral
Price Target:
¥3,583.00
▲(64.74% Upside)
Action:Reiterated
Date:05/28/26
The score is primarily held back by weak and volatile cash flow and margin compression despite stable earnings and a low-leverage balance sheet. Technicals are supportive due to a strong uptrend, but overbought momentum indicators raise near-term risk. Valuation is neutral, with a mid-range P/E and a modest dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a stronger equity base give Nichicon durable financial flexibility: supports capex, working capital and strategic investments without heavy refinancing needs, and provides a buffer in cyclical downturns that preserves long-term operational continuity.
Negative Factors
Weak and volatile cash generation
Sharp FCF deterioration and historical volatility constrain the company's ability to fund capex, pay dividends or pursue acquisitions from internal cash. Reliance on external financing or delayed investment decisions could hamper long-term competitiveness and execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a stronger equity base give Nichicon durable financial flexibility: supports capex, working capital and strategic investments without heavy refinancing needs, and provides a buffer in cyclical downturns that preserves long-term operational continuity.
Read all positive factors
Nichicon Corporation (6996) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥239.95B
Dividend Yield2.18%
Average Volume (3M)276.00K
Price to Earnings (P/E)40.1
Beta (1Y)1.11
Revenue Growth-3.43%
EPS Growth9.82%
CountryJP
Employees5,394
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)93.95
Shares Outstanding70,000,000
10 Day Avg. Volume316,140
30 Day Avg. Volume276,000
Financial Highlights & Ratios
PEG Ratio1.98
Price to Book (P/B)0.96
Price to Sales (P/S)0.68
P/FCF Ratio108.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,500.00Price Target Upside14.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)112.03
Revenue Forecast (FY)¥190.20B
Nichicon Corporation Business Overview & Revenue Model
Company Description
Nichicon Corporation, together with its subsidiaries, develops, produces, and sells capacitors and circuit products for electric and electronic products in Japan, the U.S.A, Asia, and internationally. It offers chip type, miniature type, and large...
How the Company Makes Money
Nichicon makes money primarily by designing, manufacturing, and selling electronic components—most notably capacitors—to equipment makers and electronics manufacturers. Its core revenue stream is product sales of capacitors (including multiple cap...
Nichicon Corporation Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
73
Positive
Cash Flow
44
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 169.72B | 175.75B | 181.64B | 184.72B | 142.20B |
| Gross Profit | 29.98B | 33.51B | 36.09B | 38.15B | 27.85B |
| EBITDA | 14.26B | 13.57B | 15.85B | 20.22B | 12.48B |
| Net Income | 6.31B | 5.88B | 8.25B | 7.82B | 7.90B |
Balance Sheet | |||||
| Total Assets | 195.57B | 192.58B | 206.94B | 192.34B | 170.11B |
| Cash, Cash Equivalents and Short-Term Investments | 24.69B | 25.62B | 29.49B | 25.67B | 18.30B |
| Total Debt | 24.77B | 26.25B | 35.99B | 33.81B | 25.56B |
| Total Liabilities | 72.05B | 78.77B | 93.09B | 90.98B | 75.45B |
| Stockholders Equity | 119.60B | 110.43B | 110.90B | 98.84B | 92.42B |
Cash Flow | |||||
| Free Cash Flow | 1.06B | 7.70B | 4.04B | -164.00M | -2.63B |
| Operating Cash Flow | 8.16B | 18.35B | 16.32B | 9.19B | 5.26B |
| Investing Cash Flow | -6.56B | -8.36B | -12.73B | -8.12B | -5.97B |
| Financing Cash Flow | -3.84B | -14.32B | -571.00M | 5.43B | -2.30B |
Nichicon Corporation Technical Analysis
Positive
2175.00
Price Trends
2333.62
Positive
2068.06
Positive
1749.31
Positive
Market Momentum
358.90
Negative
71.57
Negative
76.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6996, the sentiment is Positive. The current price of 2175 is below the 20-day moving average (MA) of 2898.45, below the 50-day MA of 2333.62, and above the 200-day MA of 1749.31, indicating a bullish trend. The MACD of 358.90 indicates Negative momentum. The RSI at 71.57 is Negative, neither overbought nor oversold. The STOCH value of 76.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6996.
Nichicon Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥15.75T | 75.03 | 8.95% | 1.88% | 5.02% | 2.02% | |
67 Neutral | ¥47.44B | 12.97 | ― | 4.53% | 5.02% | 354.47% | |
64 Neutral | ¥7.20T | 39.87 | ― | 1.41% | 13.61% | 17.01% | |
62 Neutral | ¥239.95B | 40.12 | ― | 2.18% | -3.43% | 9.82% | |
62 Neutral | ¥1.63T | 125.20 | ― | 2.57% | 4.07% | 533.21% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | ¥120.25B | 49.29 | 2.26% | ― | 11.52% | 5786.05% |
* Technology Sector Average
JP:6996
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Nichicon Corporation Corporate Events
Nichicon Raises Annual Dividend Payout, Signals Confidence in Earnings
May 19, 2026
Nichicon Corporation’s board has approved a year-end dividend of 19 yen per share for the fiscal year with a record date of March 31, 2026, matching its latest forecast and up from 18 yen per share in the previous fiscal year. The total cash...
Nichicon Lifts Dividend Despite Profit Slump and Impairment Charge
May 8, 2026
Nichicon revised its dividend policy for the fiscal year ended March 2026, raising the year-end payout forecast to 19 yen per share from 18 yen and lifting the total annual dividend to 37 yen, up 2 yen from the prior year. Management framed the mo...
Nichicon Lifts Profit and Dividend as It Forecasts Stronger Growth for Fiscal 2027
May 8, 2026
Nichicon Corporation reported consolidated net sales of ¥169.7 billion for the fiscal year ended March 31, 2026, down 3.4% year on year, but achieved a 24.1% rise in operating profit to ¥6.5 billion and a 7.4% increase in profit attribut...
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.