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Japanese (NIKKEI) Capital Markets Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies54
  • 7D-4.5%
  • 3M1.2%
  • 1Y15.0%
  • YTD16.1%

Over the last 7 days, the Capital Markets industry has dropped 4.5%, driven by a pullback from HS Holdings of 7.2%. This takes the industry's 12 month performance to a gain of 15%. In the next few years, earnings are forecast to decline by 2.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025JP¥6.3tJP¥2.7tJP¥487.6b15.2x12.9x2.3x
Fri, 21 Nov 2025JP¥9.5tJP¥4.7tJP¥859.3b13.9x11.1x2x
Sun, 19 Oct 2025JP¥9.3tJP¥4.6tJP¥804.2b15.9x11.6x2x
Tue, 16 Sep 2025JP¥9.4tJP¥4.6tJP¥811.1b16.4x11.6x2.1x
Thu, 14 Aug 2025JP¥9.2tJP¥4.6tJP¥813.5b15.6x11.4x2x
Sat, 12 Jul 2025JP¥8.1tJP¥4.4tJP¥715.2b13.1x11.3x1.8x
Mon, 09 Jun 2025JP¥7.8tJP¥4.4tJP¥708.1b13.2x11x1.8x
Wed, 07 May 2025JP¥7.2tJP¥4.3tJP¥687.5b13.1x10.4x1.7x
Fri, 04 Apr 2025JP¥7.2tJP¥4.3tJP¥676.0b10.9x10.7x1.7x
Sun, 02 Mar 2025JP¥8.1tJP¥4.3tJP¥685.2b11.6x11.8x1.9x
Tue, 28 Jan 2025JP¥5.4tJP¥2.3tJP¥323.6b12.7x16.7x2.3x
Thu, 26 Dec 2024JP¥5.4tJP¥2.3tJP¥312.0b13.3x17.3x2.3x
Sat, 23 Nov 2024JP¥5.3tJP¥2.3tJP¥311.9b14.1x16.9x2.3x
Mon, 21 Oct 2024JP¥7.5tJP¥3.9tJP¥499.1b13x15x1.9x
Wed, 18 Sep 2024JP¥7.1tJP¥3.8tJP¥497.5b13.1x14.3x1.9x
Fri, 16 Aug 2024JP¥7.4tJP¥3.9tJP¥506.3b12.6x14.7x1.9x
Sun, 14 Jul 2024JP¥7.6tJP¥3.4tJP¥417.2b14.3x18.3x2.2x
Tue, 11 Jun 2024JP¥8.4tJP¥3.7tJP¥456.7b14.5x18.5x2.3x
Thu, 09 May 2024JP¥8.2tJP¥3.7tJP¥456.0b15x17.9x2.2x
Sat, 06 Apr 2024JP¥8.3tJP¥3.5tJP¥362.4b17.9x22.9x2.4x
Mon, 04 Mar 2024JP¥8.3tJP¥3.5tJP¥362.6b17.3x23x2.4x
Wed, 31 Jan 2024JP¥6.4tJP¥3.1tJP¥297.2b17.2x21.6x2.1x
Fri, 29 Dec 2023JP¥5.9tJP¥3.1tJP¥334.1b16x17.6x1.9x
Sun, 26 Nov 2023JP¥5.9tJP¥3.1tJP¥334.0b15.9x17.6x1.9x
Tue, 24 Oct 2023JP¥7.2tJP¥4.3tJP¥418.3b15.5x17.2x1.7x
Thu, 21 Sep 2023JP¥7.6tJP¥4.3tJP¥418.3b16.8x18.1x1.8x
Sat, 19 Aug 2023JP¥5.5tJP¥3.3tJP¥340.6b14.2x16x1.6x
Mon, 17 Jul 2023JP¥6.5tJP¥4.0tJP¥337.8b17.5x19.3x1.6x
Wed, 14 Jun 2023JP¥6.3tJP¥4.0tJP¥335.2b16.9x18.8x1.6x
Fri, 12 May 2023JP¥6.0tJP¥3.9tJP¥304.4b21.3x19.6x1.5x
Sun, 09 Apr 2023JP¥5.8tJP¥3.8tJP¥338.5b22.2x17.3x1.5x
Tue, 07 Mar 2023JP¥6.2tJP¥3.8tJP¥340.7b22.5x18.3x1.6x
Thu, 02 Feb 2023JP¥5.0tJP¥3.0tJP¥567.1b20.9x8.9x1.7x
Sat, 31 Dec 2022JP¥5.7tJP¥3.7tJP¥608.7b14.8x9.4x1.5x
Price to Earnings Ratio

9.4x


Total Market Cap: JP¥5.7tTotal Earnings: JP¥608.7bTotal Revenue: JP¥3.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Capital Markets Industry Price to Earnings3Y Average 15.8x202320242025
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 12.9x which is lower than its 3-year average PE of 15.8x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have declined 7.1% per year over the last three years,
  • Revenues have also declined 9.3% 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 Market-0.56%
Financials-1.08%
Capital Markets-4.52%
Asset Management1.52%
Investment Banking and Brokerage-4.19%
Financial Exchanges and Data-6.67%
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 29.5x.
    • Analysts are expecting annual earnings growth of 2.8%, 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 14.3x.
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 5.2% 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¥1.30k3.8%
+JP¥137.9b		42.9%PE10.3x
8473 SBI HoldingsJP¥3.42k3.1%
+JP¥68.0b		70.8%PE8x
8601 Daiwa Securities GroupJP¥1.38k2.9%
+JP¥66.3b		34.9%PE12.3x
8697 Japan Exchange GroupJP¥1.69k0.7%
+JP¥12.8b		-4.9%PE27.4x
8628 Matsui SecuritiesJP¥839.004.0%
+JP¥8.2b		4.1%PE19.8x

Latest News

8628
JP¥839.00
Matsui Securities
7D
4.0%
1Y
4.1%
8789
JP¥138.00
FinTech Global
7D
-2.8%
1Y
17.9%
8473
JP¥3,418.00
SBI Holdings
7D
3.1%
1Y
70.8%
8601
JP¥1,381.50
Daiwa Securities Group
7D
2.9%
1Y
34.9%
8604
JP¥1,297.50
Nomura Holdings
7D
3.8%
1Y
42.9%

8604: Dividend Will Rise As Earnings Multiple And Profitability Remain Steady

Analysts have raised their price target on Nomura Holdings modestly to approximately ¥1,294 from ¥1,260, citing a slightly higher assumed future price to earnings multiple while keeping growth and profitability expectations broadly unchanged. What's in the News Nomura Holdings declared a dividend of JPY 27 per share for shareholders of record as of September 30, 2025, payable on December 1, 2025 (Key Developments).
5842
JP¥3,320.00
Integral
7D
7.1%
1Y
-21.0%
7347
JP¥872.00
Mercuria Holdings
7D
-0.7%
1Y
8.1%
8617
JP¥445.00
Kosei Securities
7D
-3.7%
1Y
4.2%
8697
JP¥1,689.00
Japan Exchange Group
7D
0.7%
1Y
-4.9%

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
8699
JP¥1,208.00
HS Holdings
7D
-7.2%
1Y
40.1%

The Market Lifts HS Holdings Co., Ltd. (TSE:8699) Shares 25% But It Can Do More

Dec 12
The Market Lifts HS Holdings Co., Ltd. (TSE:8699) Shares 25% But It Can Do More
7162
JP¥216.00
ASTMAX
7D
-3.1%
1Y
-11.5%
9225
JP¥1,118.00
Bridge Consulting Group
7D
-2.8%
1Y
7.8%
8698
JP¥734.00
Monex Group
7D
4.3%
1Y
-23.0%
8609
JP¥748.00
Okasan Securities Group
7D
4.0%
1Y
18.2%
7185
JP¥3,470.00
Hirose Tusyo
7D
-0.9%
1Y
-12.6%
7360
JP¥705.00
ONDECK
7D
-8.3%
1Y
-30.8%