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Nitori Holdings Co
(9843)
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Rating:63Neutral
Price Target:
¥3,009.00
▲(25.01% Upside)
Action:Reiterated
Date:05/15/26
The score is primarily supported by solid underlying profitability and a generally sound balance sheet, but it is held back by slowed/declining recent revenue momentum and inconsistent free cash flow. Technicals are a meaningful drag due to a clear downtrend (price below key moving averages and negative MACD), while valuation is reasonable with a mid-teens P/E and a modest dividend yield.
Positive Factors
Sustained Profitability Margins
Nitori's consistently high gross (48–55%) and healthy net margins (9–13%) reflect durable unit economics and pricing power in specialty retail. These margins provide a buffer against cost swings, support reinvestment in stores and distribution, and underpin long-term earnings resilience.
Negative Factors
Top-line Deceleration
A multi-year slowdown from strong growth to modest gains and a 2026 decline signals structural demand headwinds or market saturation. Persistent top-line weakness erodes operating leverage, constrains scale benefits, and may force margin trade-offs or slower reinvestment over months to years.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Profitability Margins
Nitori's consistently high gross (48–55%) and healthy net margins (9–13%) reflect durable unit economics and pricing power in specialty retail. These margins provide a buffer against cost swings, support reinvestment in stores and distribution, and underpin long-term earnings resilience.
Read all positive factors
Nitori Holdings Co (9843) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.61T
Dividend Yield1.08%
Average Volume (3M)3.81M
Price to Earnings (P/E)18.0
Beta (1Y)-0.06
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees19,432
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)157.98
Shares Outstanding572,217,470
10 Day Avg. Volume4,226,770
30 Day Avg. Volume3,813,650
Financial Highlights & Ratios
PEG Ratio1.96
Price to Book (P/B)1.44
Price to Sales (P/S)1.56
P/FCF Ratio13.23
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)154.62
Revenue Forecast (FY)¥960.24B
Nitori Holdings Co Business Overview & Revenue Model
Company Description
Nitori Holdings Co., Ltd. operates a retail business specializing in furniture and home furnishings across multiple international markets, including Japan, China, Taiwan, and the United States, facilitated through its subsidiaries. Beyond its prim...
How the Company Makes Money
Nitori primarily makes money by selling home-furnishing and household products directly to consumers through its retail stores and online sales platforms. Its core revenue stream is retail merchandise sales across major categories such as furnitur...
Nitori Holdings Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 912.25B | 928.83B | 896.67B | 875.17B | 811.58B |
| Gross Profit | 485.41B | 473.92B | 457.40B | 420.77B | 405.49B |
| EBITDA | 201.01B | 186.83B | 188.41B | 155.33B | 168.51B |
| Net Income | 89.27B | 82.55B | 90.16B | 87.81B | 96.72B |
Balance Sheet | |||||
| Total Assets | 1.57T | 1.53T | 1.41T | 1.13T | 983.84B |
| Cash, Cash Equivalents and Short-Term Investments | 145.01B | 136.00B | 137.94B | 131.93B | 130.44B |
| Total Debt | 160.00B | 437.05B | 365.11B | 146.60B | 92.73B |
| Total Liabilities | 582.71B | 623.68B | 570.58B | 315.67B | 251.02B |
| Stockholders Equity | 988.56B | 905.73B | 840.70B | 818.10B | 732.81B |
Cash Flow | |||||
| Free Cash Flow | 107.50B | 22.95B | 57.11B | -22.54B | -15.96B |
| Operating Cash Flow | 148.91B | 144.38B | 181.16B | 91.40B | 85.56B |
| Investing Cash Flow | -55.10B | -127.86B | -133.11B | -132.54B | -119.98B |
| Financing Cash Flow | -86.50B | 1.29B | -55.38B | 36.90B | 17.73B |
Nitori Holdings Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ¥1.61T | 17.96 | 9.34% | 1.26% | ― | ― | |
63 Neutral | ¥831.06B | 23.34 | 31.08% | ― | 19.03% | 35.09% | |
62 Neutral | ¥96.30B | 8.20 | 7.95% | 3.44% | 4.35% | 37.52% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ¥117.98B | 14.65 | ― | 2.11% | 7.92% | -20.32% | |
58 Neutral | ¥563.76B | 27.39 | 2.32% | 2.31% | 6.56% | -37.24% | |
46 Neutral | ¥1.93T | -15.17 | -14.02% | ― | 10.70% | 36.82% |
* Consumer Cyclical Sector Average
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Nitori Holdings Co Corporate Events
Nitori Holdings Sees Modest Profit Dip but Projects Full-Year Growth and Steady Dividends
Aug 7, 2026
Nitori Holdings reported a slight decline in first-quarter revenue and profit, with revenue down 2.3 percent to ¥226.3 billion and profit attributable to owners of the parent slipping 1.5 percent to ¥25.8 billion. Despite softer top-line...
Nitori Holdings Refreshes Board Lineup While Maintaining Core Leadership
May 19, 2026
Nitori Holdings has announced a reshuffled executive officer lineup, nominating candidates for director positions following a Board of Directors resolution ahead of its 54th Annual General Meeting of Shareholders in June 2026. Representative Direc...
Nitori Lifts Profit on Strong Margins, Guides for Modest Growth in FY2027
May 14, 2026
Nitori Holdings reported fiscal 2026 consolidated revenue of ¥912.2 billion, down 1.8% year on year, but improved profitability with operating profit up 6.7% to ¥125.5 billion and profit attributable to owners of the parent rising 8.1% t...
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.