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Japanese (NIKKEI) Capital Markets Industry Analysis

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies55
  • 7D6.2%
  • 3M11.7%
  • 1Y31.8%
  • YTD7.2%

Over the last 7 days, the Capital Markets industry has risen 6.2%, driven by gains from Nomura Holdings of 7.7%. During this same period, the FUNDINNOInc underperformed, falling 9.6%. In the last 12 months, the industry was up 32%. In the next few years, earnings are forecast to decline by 2.5% annually.

Industry Valuation and Performance

Has the Japanese Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026JP¥7.0tJP¥2.8tJP¥494.2b16x14.2x2.5x
Sun, 14 Dec 2025JP¥6.4tJP¥2.7tJP¥485.8b14.8x13.2x2.3x
Tue, 11 Nov 2025JP¥9.6tJP¥4.7tJP¥865.5b14x11.1x2x
Thu, 09 Oct 2025JP¥9.7tJP¥4.6tJP¥804.1b16.4x12.1x2.1x
Sat, 06 Sep 2025JP¥9.3tJP¥4.6tJP¥811.1b16.5x11.5x2x
Mon, 04 Aug 2025JP¥8.7tJP¥4.6tJP¥810.8b15x10.7x1.9x
Wed, 02 Jul 2025JP¥8.1tJP¥4.4tJP¥708.1b13.1x11.4x1.8x
Fri, 30 May 2025JP¥7.8tJP¥4.4tJP¥708.1b13.1x10.9x1.8x
Sun, 27 Apr 2025JP¥7.2tJP¥4.2tJP¥677.6b11.9x10.6x1.7x
Tue, 25 Mar 2025JP¥8.1tJP¥4.3tJP¥684.7b12x11.9x1.9x
Thu, 20 Feb 2025JP¥8.4tJP¥4.3tJP¥685.2b12.1x12.3x2x
Sat, 18 Jan 2025JP¥5.3tJP¥2.3tJP¥323.6b12.6x16.3x2.3x
Mon, 16 Dec 2024JP¥5.6tJP¥2.3tJP¥312.0b13.8x17.9x2.4x
Wed, 13 Nov 2024JP¥5.4tJP¥2.3tJP¥307.7b13.6x17.5x2.3x
Fri, 11 Oct 2024JP¥7.5tJP¥3.9tJP¥499.5b14x15x1.9x
Sun, 08 Sep 2024JP¥7.4tJP¥3.9tJP¥506.2b13.2x14.5x1.9x
Tue, 06 Aug 2024JP¥6.2tJP¥3.9tJP¥504.7b10.4x12.3x1.6x
Thu, 04 Jul 2024JP¥5.9tJP¥2.2tJP¥297.4b14.1x19.8x2.7x
Sat, 01 Jun 2024JP¥8.4tJP¥3.7tJP¥456.7b14x18.3x2.2x
Mon, 29 Apr 2024JP¥8.2tJP¥3.6tJP¥425.9b16x19.2x2.3x
Wed, 27 Mar 2024JP¥8.8tJP¥3.5tJP¥362.4b20.1x24.2x2.5x
Fri, 23 Feb 2024JP¥8.1tJP¥3.5tJP¥362.6b17.3x22.3x2.3x
Sun, 21 Jan 2024JP¥6.3tJP¥3.1tJP¥334.3b16.9x19x2.1x
Tue, 19 Dec 2023JP¥5.7tJP¥3.1tJP¥334.1b15.8x17.1x1.8x
Thu, 16 Nov 2023JP¥6.3tJP¥3.4tJP¥380.3b15.7x16.7x1.8x
Sat, 14 Oct 2023JP¥7.4tJP¥4.3tJP¥417.9b15.7x17.7x1.7x
Mon, 11 Sep 2023JP¥7.1tJP¥4.3tJP¥416.3b16.1x17.2x1.7x
Wed, 09 Aug 2023JP¥5.6tJP¥3.3tJP¥338.4b15.1x16.6x1.7x
Fri, 07 Jul 2023JP¥6.5tJP¥4.0tJP¥336.0b17.7x19.4x1.6x
Sun, 04 Jun 2023JP¥6.1tJP¥4.0tJP¥335.2b16.3x18.1x1.5x
Tue, 02 May 2023JP¥6.0tJP¥3.9tJP¥298.7b22.1x19.9x1.5x
Thu, 30 Mar 2023JP¥6.0tJP¥3.8tJP¥340.6b23x17.7x1.6x
Sat, 25 Feb 2023JP¥6.3tJP¥3.8tJP¥340.7b22.4x18.4x1.7x
Mon, 23 Jan 2023JP¥5.9tJP¥3.7tJP¥607.9b16x9.7x1.6x
Price to Earnings Ratio

9.7x


Total Market Cap: JP¥5.9tTotal Earnings: JP¥607.9bTotal Revenue: JP¥3.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Capital Markets Industry Price to Earnings3Y Average 15.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Japanese Capital Markets industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 14.2x which is lower than its 3-year average PE of 15.9x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 6.7% per year over the last three years,
  • Revenues have also declined 9.0% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Japanese Financials industry?

JP Market4.92%
Financials8.18%
Capital Markets6.19%
Investment Banking and Brokerage7.48%
Asset Management4.71%
Financial Exchanges and Data3.72%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry, which is trading close to its 3-year average PE ratio of 29.7x.
    • Analysts are expecting annual earnings growth of 2.5%, which is lower than the prior year's growth of 6.4% per year.
  • Investors are most pessimistic about the Investment Banking and Brokerage industry, which is trading below its 3-year average of 14.4x.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 3.0% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings decline by 5.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
8604 Nomura HoldingsJP¥1.49k7.7%
+JP¥311.0b		62.7%PE11.8x
8473 SBI HoldingsJP¥3.82k10.7%
+JP¥240.9b		92.3%PE8.8x
8601 Daiwa Securities GroupJP¥1.56k7.1%
+JP¥143.6b		54.7%PE13.9x
8697 Japan Exchange GroupJP¥1.80k3.7%
+JP¥65.3b		7.3%PE29.2x
5842 IntegralJP¥4.01k11.7%
+JP¥14.2b		-2.2%PE10.9x

Latest News

5842
JP¥3,825.00
Integral
7D
10.5%
1Y
-6.8%

Integral Corporation's (TSE:5842) Shares Leap 29% Yet They're Still Not Telling The Full Story

Jan 15
Integral Corporation's (TSE:5842) Shares Leap 29% Yet They're Still Not Telling The Full Story
7360
JP¥812.00
ONDECK
7D
-12.1%
1Y
-18.0%
8601
JP¥1,557.50
Daiwa Securities Group
7D
5.7%
1Y
53.4%

8601: Rising Payouts And Buybacks Will Likely Fail To Justify Elevated Pricing

Narrative update on Daiwa Securities Group Analysts have raised their fair value estimate for Daiwa Securities Group from ¥1,255.71 to ¥1,324.29. This revision reflects updated assumptions regarding long term profit margins and future P/E multiples, while the discount rate remains unchanged.
3454
JP¥1,182.00
First BrothersLtd
7D
-3.1%
1Y
17.5%
8473
JP¥3,802.00
SBI Holdings
7D
6.9%
1Y
89.4%

8473: Lower Profitability Expectations Will Drive Cautious View Despite Capital Actions

Analysts have reset their price target on SBI Holdings from ¥4,730 to ¥2,650, citing updated assumptions around revenue trends, profit margins and a higher expected P/E multiple. What's in the News Announced a private placement of 6,206,897 common shares at TWD 29 per share for gross proceeds of TWD 180,000,013, including participation from new investor Orient Europharma Co., Ltd.
8604
JP¥1,477.50
Nomura Holdings
7D
5.0%
1Y
58.5%
2127
JP¥738.80
Nihon M&A Center Holdings
7D
-0.6%
1Y
14.0%

2127: Higher Guidance And Transaction Trends Will Support Stable Long Term Earnings

Analysts have nudged their fair value estimate for Nihon M&A Center Holdings higher from ¥773 to roughly ¥812 per share, reflecting slightly different assumptions on discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Nihon M&A Center Holdings plans a board meeting on November 20, 2025 to review a notice of change in a corporate officer at a consolidated subsidiary (Key Developments).
2134
JP¥33.00
Kitahama Capital PartnersLtd
7D
-2.9%
1Y
83.3%
3113
JP¥74.00
UNIVA Oak Holdings
7D
-2.6%
1Y
-2.6%
8616
JP¥750.00
Tokai Tokyo Financial Holdings
7D
4.7%
1Y
55.6%
8609
JP¥877.00
Okasan Securities Group
7D
10.6%
1Y
45.2%
8628
JP¥906.00
Matsui Securities
7D
4.0%
1Y
12.5%
462A
JP¥960.00
FUNDINNOInc
7D
-9.4%
1Y
n/a
8697
JP¥1,779.50
Japan Exchange Group
7D
0.9%
1Y
6.7%

Japan Exchange Group, Inc.'s (TSE:8697) Shareholders Might Be Looking For Exit

Dec 16
Japan Exchange Group, Inc.'s (TSE:8697) Shareholders Might Be Looking For Exit
254A
JP¥919.00
Ai Fusion Capital Group
7D
-1.0%
1Y
2.2%
192A
JP¥1,992.00
Integroup
7D
-1.1%
1Y
-44.7%