Nitori Holdings Co Ltd (JP:9843)
:9843
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Nitori Holdings Co
(9843)
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Rating:63Neutral
Price Target:
¥2,865.00
▲(5.95% 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
Vertically integrated business model
Nitori's SPA-like vertical integration—controlling design, procurement, distribution and retail—lets it capture supplier and distribution margin, standardize quality, and scale sourcing. Over months this durable structure supports consistent cost control, product differentiation and margin resilience.
Negative Factors
Revenue growth slowdown / recent decline
Top-line momentum has softened from strong growth in 2021–2023 to modest growth and a slight 2026 decline. This reduces operating leverage and limits scope for scale-driven margin expansion. If sustained, it constrains reinvestment, store economics and long-term earnings growth potential.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertically integrated business model
Nitori's SPA-like vertical integration—controlling design, procurement, distribution and retail—lets it capture supplier and distribution margin, standardize quality, and scale sourcing. Over months this durable structure supports consistent cost control, product differentiation and margin resilience.
Read all positive factors
Nitori Holdings Co (9843) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.49T
Dividend Yield1.11%
Average Volume (3M)3.81M
Price to Earnings (P/E)16.4
Beta (1Y)0.04
Revenue GrowthN/A
EPS GrowthN/A
CountryJP
Employees18,934
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)153.28
Revenue Forecast (FY)¥960.27B
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 Technical Analysis
Negative
2704.00
Price Trends
2466.99
Positive
2647.12
Negative
2652.82
Negative
Market Momentum
51.80
Positive
50.61
Neutral
26.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9843, the sentiment is Negative. The current price of 2704 is above the 20-day moving average (MA) of 2597.05, above the 50-day MA of 2466.99, and above the 200-day MA of 2652.82, indicating a neutral trend. The MACD of 51.80 indicates Positive momentum. The RSI at 50.61 is Neutral, neither overbought nor oversold. The STOCH value of 26.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9843.
Nitori Holdings Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ¥614.51B | 18.39 | 31.11% | ― | 13.25% | 104.75% | |
63 Neutral | ¥1.49T | 16.37 | 9.29% | 1.11% | ― | ― | |
62 Neutral | ¥91.85B | 7.90 | 6.96% | 2.98% | 3.43% | 31.33% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | ¥563.34B | 31.07 | 4.18% | 2.57% | 3.85% | -43.62% | |
54 Neutral | ¥118.29B | 14.76 | ― | 2.08% | 7.92% | -20.32% | |
46 Neutral | ¥1.61T | -13.21 | -21.14% | ― | 10.70% | 36.82% |
* Consumer Cyclical Sector Average
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Nitori Holdings Co Corporate Events
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.