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Japanese (NIKKEI) Capital Markets Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies55
  • 7D4.6%
  • 3M16.5%
  • 1Y41.0%
  • YTD8.7%

In the last week, the Capital Markets industry is up 4.6%, with Japan Exchange Group up 14%. This means that the industry has gained 41% over the past year. As for the next few years, earnings are forecast to decline by 7.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026JP¥11.4tJP¥5.1tJP¥1.0t14.5x11.2x2.2x
Thu, 29 Jan 2026JP¥6.6tJP¥2.8tJP¥494.3b15.8x13.3x2.4x
Sat, 27 Dec 2025JP¥6.4tJP¥2.7tJP¥487.6b15.7x13.2x2.3x
Mon, 24 Nov 2025JP¥6.3tJP¥2.8tJP¥489.4b14.1x12.8x2.3x
Wed, 22 Oct 2025JP¥9.6tJP¥4.6tJP¥804.2b16x11.9x2.1x
Fri, 19 Sep 2025JP¥9.3tJP¥4.6tJP¥811.1b16.4x11.5x2x
Sun, 17 Aug 2025JP¥9.5tJP¥4.6tJP¥811.1b16x11.7x2.1x
Tue, 15 Jul 2025JP¥8.2tJP¥4.4tJP¥715.2b13.3x11.5x1.9x
Thu, 12 Jun 2025JP¥7.8tJP¥4.4tJP¥708.1b13x11x1.8x
Sat, 10 May 2025JP¥7.4tJP¥4.3tJP¥687.6b12.4x10.7x1.7x
Mon, 07 Apr 2025JP¥6.9tJP¥4.3tJP¥676.0b10.3x10.3x1.6x
Wed, 05 Mar 2025JP¥8.2tJP¥4.3tJP¥685.2b11.8x12x1.9x
Fri, 31 Jan 2025JP¥5.5tJP¥2.3tJP¥328.5b12.9x16.6x2.3x
Sun, 29 Dec 2024JP¥5.5tJP¥2.3tJP¥312.0b13.4x17.6x2.4x
Tue, 26 Nov 2024JP¥5.3tJP¥2.3tJP¥312.2b14.3x17.1x2.3x
Thu, 24 Oct 2024JP¥7.3tJP¥3.9tJP¥499.1b12.7x14.6x1.9x
Sat, 21 Sep 2024JP¥7.4tJP¥3.9tJP¥506.2b13.4x14.7x1.9x
Mon, 19 Aug 2024JP¥7.6tJP¥3.9tJP¥506.1b12.7x15.1x2x
Wed, 17 Jul 2024JP¥7.8tJP¥3.4tJP¥417.3b14.7x18.7x2.3x
Fri, 14 Jun 2024JP¥8.2tJP¥3.7tJP¥456.7b13.8x18x2.2x
Sun, 12 May 2024JP¥8.2tJP¥3.7tJP¥457.3b14.8x17.8x2.2x
Tue, 09 Apr 2024JP¥8.4tJP¥3.5tJP¥358.9b18.5x23.5x2.4x
Thu, 07 Mar 2024JP¥8.5tJP¥3.5tJP¥362.6b17.6x23.4x2.4x
Sat, 03 Feb 2024JP¥7.5tJP¥3.4tJP¥329.9b17.4x22.6x2.2x
Mon, 01 Jan 2024JP¥5.9tJP¥3.1tJP¥334.1b15.9x17.7x1.9x
Wed, 29 Nov 2023JP¥5.8tJP¥3.1tJP¥334.1b16.2x17.4x1.9x
Fri, 27 Oct 2023JP¥7.1tJP¥4.3tJP¥418.4b15.8x17x1.7x
Sun, 24 Sep 2023JP¥7.5tJP¥4.3tJP¥418.3b16.8x18x1.8x
Tue, 22 Aug 2023JP¥6.6tJP¥4.3tJP¥416.3b14.5x15.8x1.5x
Thu, 20 Jul 2023JP¥6.7tJP¥4.0tJP¥335.7b16.9x19.9x1.7x
Sat, 17 Jun 2023JP¥6.7tJP¥4.0tJP¥335.2b17.8x20x1.7x
Mon, 15 May 2023JP¥5.9tJP¥3.9tJP¥304.3b20.1x19.4x1.5x
Wed, 12 Apr 2023JP¥5.9tJP¥3.8tJP¥338.5b22.5x17.4x1.6x
Fri, 10 Mar 2023JP¥6.3tJP¥3.8tJP¥340.7b22.8x18.6x1.7x
Price to Earnings Ratio

18.6x


Total Market Cap: JP¥6.3tTotal Earnings: JP¥340.7bTotal Revenue: JP¥3.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Capital Markets Industry Price to Earnings3Y Average 15.8x202420252026
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 11.2x which is lower than its 3-year average PE of 15.8x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 44% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

JP Market3.27%
Financials0.94%
Capital Markets4.65%
Financial Exchanges and Data13.22%
Asset Management2.85%
Investment Banking and Brokerage2.67%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry which is trading above its 3-year average PE ratio of 29.9x.
    • Analysts are expecting annual earnings growth of 2.0%, which is lower than the prior year's growth of 21.1% per year.
  • Investors are most pessimistic about the Investment Banking and Brokerage industry, which is trading below its 3-year average of 14.3x.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 24% per year.
  • In contrast, the Investment Banking and Brokerage industry is expected to see its earnings decline by 10% 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
8697 Japan Exchange GroupJP¥2.05k5.0%
+JP¥101.2b		25.4%PE30.5x
319A Next Generation Technology GroupJP¥12.78k13.3%
+JP¥13.3b		131.9%PE36.6x
8628 Matsui SecuritiesJP¥965.004.3%
+JP¥10.3b		20.8%PE19x
6080 M&A Capital PartnersLtdJP¥3.62k5.4%
+JP¥5.9b		24.6%PE24.6x
8616 Tokai Tokyo Financial HoldingsJP¥782.001.0%
+JP¥2.0b		55.5%PE14.6x

Latest News

8739
JP¥2,005.00
SPARX Group
7D
-2.9%
1Y
26.7%
319A
JP¥12,780.00
Next Generation Technology Group
7D
13.3%
1Y
131.9%
8742
JP¥544.00
Kobayashi Yoko
7D
12.2%
1Y
75.5%
8697
JP¥2,051.00
Japan Exchange Group
7D
5.0%
1Y
25.4%
8604
JP¥1,285.00
Nomura Holdings
7D
-7.2%
1Y
31.7%
9552
JP¥680.00
Quants Research Institute Holdings
7D
-10.1%
1Y
-44.7%
8601
JP¥1,543.00
Daiwa Securities Group
7D
-2.9%
1Y
49.1%

8601: Stable Forecasts And Slightly Lower P/E Will Sustain Overvaluation Concerns

Analysts have kept their price target for Daiwa Securities Group steady at ¥1,426.25, reflecting largely unchanged views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Valuation Changes Fair Value: ¥1,426.25 remains unchanged, indicating no adjustment to the assessed fair value.
8473
JP¥3,043.00
SBI Holdings
7D
-4.6%
1Y
38.4%

8473: Buybacks And Tokenized Securities Platform Will Support Future Capital Returns Stability

Analysts have nudged their 12 month price target for SBI Holdings up from ¥3,645 to ¥3,685, reflecting updated assumptions around a slightly lower discount rate, softer revenue growth and profit margins, and a higher future P/E multiple of 39.71x. What's in the News SBI Holdings reported progress on its share buyback program, repurchasing 7,784,300 shares for ¥25,974.48 million between November 21, 2025 and December 31, 2025 under the buyback announced on November 21, 2025 (Key Developments).
2127
JP¥663.00
Nihon M&A Center Holdings
7D
-4.8%
1Y
10.8%

2127: Fund Business Split And Solid Margins Will Support Earnings Upside

Analysts have nudged their price target for Nihon M&A Center Holdings slightly higher to ¥824 from ¥812, citing updated assumptions for discount rate, revenue growth, profit margin, and future P/E that together point to a modestly adjusted view of fair value. What's in the News Board meeting scheduled for February 13, 2026, to consider transferring the rights and obligations of the fund business to newly established J-Capital Inc.
5842
JP¥3,170.00
Integral
7D
-2.2%
1Y
-6.4%
8622
JP¥639.00
Mito Securities
7D
1.8%
1Y
16.0%
6080
JP¥3,615.00
M&A Capital PartnersLtd
7D
5.4%
1Y
24.6%
8616
JP¥782.00
Tokai Tokyo Financial Holdings
7D
1.0%
1Y
55.5%
6196
JP¥4,345.00
Strike CompanyLimited
7D
1.0%
1Y
41.1%
8609
JP¥907.00
Okasan Securities Group
7D
-5.0%
1Y
39.5%
8628
JP¥965.00
Matsui Securities
7D
4.3%
1Y
20.8%