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Japanese (NIKKEI) Medical Equipment Industry Analysis

UpdatedSep 16, 2026
DataAggregated Company Financials
Companies36
  • 7D-2.6%
  • 3M-6.4%
  • 1Y1.9%
  • YTD-1.3%

Over the last 7 days, the Medical Equipment industry has dropped 5.0%, driven by HOYA declining 4.2%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 9.8% annually.

Industry Valuation and Performance

Has the Japanese Medical Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 16 Sep 2026JP¥17.1tJP¥6.0tJP¥703.6b16.7x24.3x2.8x
Fri, 14 Aug 2026JP¥19.5tJP¥6.0tJP¥698.5b16.8x27.8x3.2x
Sun, 12 Jul 2026JP¥17.5tJP¥5.8tJP¥628.0b16.1x27.9x3x
Tue, 09 Jun 2026JP¥17.9tJP¥5.8tJP¥629.5b14.2x28.4x3.1x
Thu, 07 May 2026JP¥17.8tJP¥5.7tJP¥634.1b14.4x28.1x3.1x
Sat, 04 Apr 2026JP¥18.2tJP¥5.7tJP¥630.9b15.3x28.9x3.2x
Mon, 02 Mar 2026JP¥18.6tJP¥5.7tJP¥631.2b15.8x29.5x3.2x
Wed, 28 Jan 2026JP¥17.7tJP¥5.8tJP¥626.8b15.7x28.2x3.1x
Fri, 26 Dec 2025JP¥17.7tJP¥5.8tJP¥626.6b15.9x28.2x3.1x
Sun, 23 Nov 2025JP¥17.7tJP¥5.8tJP¥627.1b15.8x28.3x3.1x
Tue, 21 Oct 2025JP¥17.2tJP¥5.7tJP¥623.7b15.4x27.6x3x
Thu, 18 Sep 2025JP¥17.2tJP¥5.7tJP¥624.2b16.4x27.6x3x
Sat, 16 Aug 2025JP¥16.8tJP¥5.7tJP¥624.1b16.5x26.9x2.9x
Mon, 14 Jul 2025JP¥15.9tJP¥5.7tJP¥624.7b15.5x25.5x2.8x
Wed, 11 Jun 2025JP¥16.0tJP¥5.7tJP¥621.6b15x25.8x2.8x
Fri, 09 May 2025JP¥16.6tJP¥5.7tJP¥620.9b15.5x26.8x2.9x
Sun, 06 Apr 2025JP¥15.9tJP¥5.7tJP¥627.1b14.3x25.3x2.8x
Tue, 04 Mar 2025JP¥17.1tJP¥5.7tJP¥627.2b16x27.3x3x
Thu, 30 Jan 2025JP¥19.5tJP¥5.5tJP¥563.2b16.3x34.7x3.5x
Sat, 28 Dec 2024JP¥19.2tJP¥5.5tJP¥563.2b15.8x34x3.5x
Mon, 25 Nov 2024JP¥19.1tJP¥5.5tJP¥563.1b15.6x33.9x3.4x
Wed, 23 Oct 2024JP¥19.4tJP¥5.4tJP¥515.0b17.6x37.6x3.6x
Fri, 20 Sep 2024JP¥18.3tJP¥5.4tJP¥515.7b19x35.5x3.4x
Sun, 18 Aug 2024JP¥18.5tJP¥5.4tJP¥511.4b18.4x36.1x3.4x
Tue, 16 Jul 2024JP¥19.0tJP¥5.3tJP¥492.0b15.5x38.6x3.6x
Thu, 13 Jun 2024JP¥18.9tJP¥5.4tJP¥513.4b15.7x36.7x3.5x
Sat, 11 May 2024JP¥17.8tJP¥5.3tJP¥484.0b18.1x36.7x3.3x
Mon, 08 Apr 2024JP¥17.3tJP¥5.3tJP¥485.0b17.4x35.7x3.3x
Wed, 06 Mar 2024JP¥19.1tJP¥5.3tJP¥485.2b18.1x39.3x3.6x
Fri, 02 Feb 2024JP¥18.0tJP¥5.2tJP¥509.7b19.2x35.4x3.4x
Sun, 31 Dec 2023JP¥17.2tJP¥5.2tJP¥510.0b18x33.8x3.3x
Tue, 28 Nov 2023JP¥17.1tJP¥5.2tJP¥510.3b18.1x33.6x3.3x
Thu, 26 Oct 2023JP¥15.1tJP¥5.1tJP¥563.7b16.9x26.8x2.9x
Sat, 23 Sep 2023JP¥15.8tJP¥5.1tJP¥563.4b17.2x28.1x3.1x
Price to Earnings Ratio

28.1x


Total Market Cap: JP¥15.8tTotal Earnings: JP¥563.4bTotal Revenue: JP¥5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Medical Equipment Industry Price to Earnings3Y Average 30.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Japanese Medical Equipment 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 24.4x which is lower than its 3-year average PE of 30.9x.
  • The 3-year average PS ratio of 3.2x is higher than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 7.7% per year over the last three years.
  • Revenues for these companies have grown 5.3% 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 Healthcare industry?

JP Market-0.52%
Healthcare-0.50%
Medical Equipment-2.59%
Medical Equipment-1.28%
Medical Supplies-3.68%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry even though it's trading below its 3-year average PE ratio of 34.2x.
    • Analysts are expecting annual earnings growth of 8.6%, which is lower than the prior year's growth of 20.1% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 28.4x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 11% over the next 5 years.
  • This is better than its past earnings growth rate of 0.8% per year.
  • In contrast, the Medical Supplies industry is expected to see its earnings grow by 8.6% 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
6849 Nihon KohdenJP¥1.56k4.7%
+JP¥11.3b		-10.2%PE18.3x
7733 OlympusJP¥1.98k0.5%
+JP¥10.6b		5.6%PE26.8x
7575 Japan LifelineJP¥1.55k3.7%
+JP¥3.9b		0.4%PE11.6x
6523 PHC HoldingsJP¥1.30k0.9%
+JP¥1.4b		27.9%PE18x
197A TAUNS LaboratoriesIncJP¥515.002.2%
+JP¥1.2b		-10.0%PE10x

Latest News

7747
JP¥3,253.00
Asahi Intecc
7D
-1.8%
1Y
22.6%
6869
JP¥1,841.50
Sysmex
7D
-0.2%
1Y
-2.3%
4543
JP¥2,242.50
Terumo
7D
-3.6%
1Y
-11.0%
Narrative Update • Sep 09

4543: Imaging Breakthroughs And Higher Profit Guidance Will Support Future Earnings

Analysts have nudged their price target for Terumo higher to about ¥3,140 from roughly ¥3,075, citing slightly stronger assumptions for revenue growth, profit margins and future P/E multiples in their latest models. What’s in the News for Terumo Terumo raised its consolidated earnings guidance for the fiscal year ending March 31, 2027, with operating profit now guided to ¥257,500 million and profit attributable to owners of parent to ¥193,100 million.
6523
JP¥1,301.00
PHC Holdings
7D
0.9%
1Y
27.9%
7730
JP¥1,449.00
Mani
7D
0.3%
1Y
14.0%
7733
JP¥1,975.00
Olympus
7D
0.5%
1Y
5.6%
Narrative Update • Sep 07

7733: Future Returns Will Reflect Surgical Energy Ecosystem Expansion And Steady Capital Allocation Discipline

Analysts have nudged their price target on Olympus higher to about ¥2,160 from roughly ¥2,080, reflecting updated views on fair value, discount rate, profit margin, and future P/E assumptions. What’s in the News for Olympus Olympus announced the full commercial launch in the U.S. and Canada of the POWERSEAL Open Extended Jaw Sealer/Divider, a device designed for one hand operation, ergonomic comfort, and vessel sealing in open surgeries.
7780
JP¥1,727.00
Menicon
7D
-2.1%
1Y
45.5%
6849
JP¥1,560.50
Nihon Kohden
7D
4.7%
1Y
-10.2%
7575
JP¥1,552.00
Japan Lifeline
7D
3.7%
1Y
0.4%
7979
JP¥2,208.00
Shofu
7D
-1.4%
1Y
12.3%
6960
JP¥11,760.00
Fukuda Denshi
7D
-0.8%
1Y
66.8%
8086
JP¥1,450.50
Nipro
7D
-0.7%
1Y
-6.7%
197A
JP¥515.00
TAUNS LaboratoriesInc
7D
2.2%
1Y
-10.0%
7741
JP¥22,330.00
HOYA
7D
-4.3%
1Y
3.1%
4574
JP¥258.00
Taiko PharmaceuticalLtd
7D
2.4%
1Y
-15.4%
7779
JP¥229.00
CYBERDYNE
7D
0.9%
1Y
19.9%