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Japanese (NIKKEI) Medical Equipment Industry Analysis

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies36
  • 7D-2.1%
  • 3M2.7%
  • 1Y8.0%
  • YTD2.2%

Over the last 7 days, the Medical Equipment industry has dropped 2.1%, driven by a pullback from HOYA of 2.7%. This takes the industry's 12 month performance to a gain of 8.0%. As for the next few years, earnings are expected to grow by 10% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026JP¥17.7tJP¥5.7tJP¥634.1b14.4x27.9x3.1x
Mon, 30 Mar 2026JP¥18.0tJP¥5.7tJP¥630.9b15.3x28.5x3.1x
Wed, 25 Feb 2026JP¥18.4tJP¥5.7tJP¥631.2b15.6x29.2x3.2x
Fri, 23 Jan 2026JP¥18.0tJP¥5.8tJP¥627.3b16.3x28.7x3.1x
Sun, 21 Dec 2025JP¥17.8tJP¥5.8tJP¥626.6b16x28.4x3.1x
Tue, 18 Nov 2025JP¥17.8tJP¥5.8tJP¥626.8b15.5x28.4x3.1x
Thu, 16 Oct 2025JP¥17.0tJP¥5.7tJP¥623.8b15.4x27.2x3x
Sat, 13 Sep 2025JP¥17.2tJP¥5.7tJP¥624.2b16.3x27.6x3x
Mon, 11 Aug 2025JP¥16.8tJP¥5.7tJP¥622.0b16.4x27.1x2.9x
Wed, 09 Jul 2025JP¥15.5tJP¥5.7tJP¥625.3b15.5x24.9x2.7x
Fri, 06 Jun 2025JP¥15.7tJP¥5.7tJP¥621.6b14.9x25.3x2.7x
Sun, 04 May 2025JP¥16.9tJP¥5.7tJP¥619.9b15.3x27.2x3x
Tue, 01 Apr 2025JP¥16.7tJP¥5.7tJP¥627.2b15.7x26.6x2.9x
Thu, 27 Feb 2025JP¥17.2tJP¥5.7tJP¥627.2b16x27.5x3x
Sat, 25 Jan 2025JP¥19.3tJP¥5.5tJP¥563.2b15.8x34.3x3.5x
Mon, 23 Dec 2024JP¥18.8tJP¥5.5tJP¥563.2b16x33.3x3.4x
Wed, 20 Nov 2024JP¥19.3tJP¥5.5tJP¥576.2b14.4x33.5x3.5x
Fri, 18 Oct 2024JP¥19.2tJP¥5.4tJP¥515.0b18x37.3x3.5x
Sun, 15 Sep 2024JP¥18.1tJP¥5.4tJP¥515.7b18.1x35.2x3.3x
Tue, 13 Aug 2024JP¥17.9tJP¥5.4tJP¥511.0b14.7x35.1x3.3x
Thu, 11 Jul 2024JP¥19.2tJP¥5.3tJP¥491.8b15.4x39x3.6x
Sat, 08 Jun 2024JP¥18.6tJP¥5.4tJP¥513.4b15.7x36.3x3.4x
Mon, 06 May 2024JP¥17.9tJP¥5.3tJP¥484.3b18.6x36.9x3.4x
Wed, 03 Apr 2024JP¥17.9tJP¥5.3tJP¥485.2b17.7x36.9x3.4x
Fri, 01 Mar 2024JP¥18.9tJP¥5.3tJP¥485.2b18x39x3.6x
Sun, 28 Jan 2024JP¥17.9tJP¥5.2tJP¥509.6b19x35x3.4x
Tue, 26 Dec 2023JP¥17.0tJP¥5.2tJP¥510.0b17.2x33.3x3.2x
Thu, 23 Nov 2023JP¥17.0tJP¥5.2tJP¥510.3b17.9x33.4x3.2x
Sat, 21 Oct 2023JP¥15.1tJP¥5.1tJP¥563.7b17.1x26.7x2.9x
Mon, 18 Sep 2023JP¥16.7tJP¥5.1tJP¥563.4b17.4x29.6x3.2x
Wed, 16 Aug 2023JP¥16.3tJP¥5.1tJP¥563.4b17.1x29x3.2x
Fri, 14 Jul 2023JP¥17.0tJP¥5.1tJP¥582.5b16.7x29.1x3.3x
Sun, 11 Jun 2023JP¥17.3tJP¥5.1tJP¥583.3b16.7x29.7x3.4x
Tue, 09 May 2023JP¥16.4tJP¥5.1tJP¥558.5b17.4x29.4x3.2x
Price to Earnings Ratio

29.4x


Total Market Cap: JP¥16.4tTotal Earnings: JP¥558.5bTotal Revenue: JP¥5.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Medical Equipment Industry Price to Earnings3Y Average 31.1x202420252026
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 27.9x which is lower than its 3-year average PE of 31.1x.
  • The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 4.3% per year over the last three years.
  • Revenues for these companies have grown 4.3% 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 Market0.29%
Healthcare-2.55%
Medical Equipment-2.13%
Medical Equipment-1.22%
Medical Supplies-2.68%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry, which is trading close to its 3-year average PE ratio of 34.6x.
    • Analysts are expecting annual earnings growth of 8.6%, which is higher than its past year's earnings decline of 3.1% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 28.6x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings decline of 3.6% 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
7733 OlympusJP¥1.57k2.8%
+JP¥46.8b		-19.9%PE20.4x
6960 Fukuda DenshiJP¥9.86k2.6%
+JP¥6.8b		63.8%PE15x
6823 RionJP¥3.65k14.2%
+JP¥5.6b		57.6%PE13.5x
7575 Japan LifelineJP¥1.41k2.2%
+JP¥2.1b		-9.4%PE10.9x
6523 PHC HoldingsJP¥1.01k0.5%
+JP¥632.6m		4.0%PE35.9x

Latest News

7741
JP¥27,830.00
HOYA
7D
-2.7%
1Y
54.1%
4543
JP¥1,989.00
Terumo
7D
-3.3%
1Y
-29.7%

4543: Offshore Development Center Partnership Will Support Long Term Upside

Terumo’s analyst price target is unchanged at ¥3,700. Analysts point to slightly higher assumed revenue growth and a modestly higher P/E multiple, partly offset by a slightly lower profit margin and higher discount rate in their refreshed models.
7733
JP¥1,571.00
Olympus
7D
2.8%
1Y
-19.9%
6849
JP¥1,442.50
Nihon Kohden
7D
-0.9%
1Y
-16.6%
6869
JP¥1,331.50
Sysmex
7D
-4.6%
1Y
-50.2%
6823
JP¥3,650.00
Rion
7D
14.2%
1Y
57.6%
7747
JP¥3,246.00
Asahi Intecc
7D
-3.2%
1Y
46.2%
7730
JP¥1,706.00
Mani
7D
-4.7%
1Y
44.2%

7730: Dividend Increase And Stable Assumptions Will Shape Balanced Future Upside

Analysts now see Mani's fair value at ¥1,872.14, up from ¥1,752.14, reflecting slightly adjusted assumptions for the discount rate, revenue growth, profit margin, and forward P/E multiples in their updated models. What's in the News Mani announced a cash dividend of ¥17.00 per share for the second quarter ended February 28, 2026, compared with ¥16.00 per share a year earlier (Key Developments).
7716
JP¥2,785.00
Nakanishi
7D
0.1%
1Y
47.4%
6523
JP¥1,005.00
PHC Holdings
7D
0.5%
1Y
4.0%

6523: Future Returns Will Rely On Stable Margins And Higher Forward P/E

Analysts have kept their fair value estimate for PHC Holdings steady at ¥1,327.14. Updated assumptions, including a slightly higher discount rate and a small adjustment to future P/E, support this unchanged price target.
197A
JP¥489.00
TAUNS LaboratoriesInc
7D
0.4%
1Y
-2.6%
6960
JP¥9,860.00
Fukuda Denshi
7D
2.6%
1Y
63.8%
7780
JP¥1,620.00
Menicon
7D
-1.8%
1Y
15.5%
6678
JP¥2,151.00
Techno Medica
7D
1.0%
1Y
20.1%
8086
JP¥1,490.50
Nipro
7D
-2.8%
1Y
16.9%
7575
JP¥1,405.00
Japan Lifeline
7D
2.2%
1Y
-9.4%