Japanese (NIKKEI) Alternative Carriers Industry Analysis

Industry Valuation and Performance

Has the Japanese Alternative Carriers Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 20 Jun 2026	JP¥374.0b	JP¥548.6b	JP¥26.2b	14.3x	14.3x	0.7x
Mon, 18 May 2026	JP¥369.7b	JP¥548.0b	JP¥26.1b	15.2x	14.2x	0.7x
Wed, 15 Apr 2026	JP¥388.1b	JP¥544.1b	JP¥25.9b	17.6x	15x	0.7x
Fri, 13 Mar 2026	JP¥410.9b	JP¥539.3b	JP¥23.4b	18.4x	17.5x	0.8x
Sun, 08 Feb 2026	JP¥425.6b	JP¥536.2b	JP¥23.4b	16.6x	18.2x	0.8x
Tue, 06 Jan 2026	JP¥455.0b	JP¥523.1b	JP¥23.2b	15.6x	19.6x	0.9x
Thu, 04 Dec 2025	JP¥451.4b	JP¥520.8b	JP¥23.0b	15.3x	19.6x	0.9x
Sat, 01 Nov 2025	JP¥459.4b	JP¥517.2b	JP¥23.1b	17.8x	19.9x	0.9x
Mon, 29 Sep 2025	JP¥484.0b	JP¥498.6b	JP¥20.3b	14.1x	23.9x	1x
Wed, 27 Aug 2025	JP¥478.7b	JP¥496.7b	JP¥20.0b	12.8x	23.9x	1x
Fri, 25 Jul 2025	JP¥463.4b	JP¥495.1b	JP¥20.1b	12.1x	23.1x	0.9x
Sun, 22 Jun 2025	JP¥481.3b	JP¥481.7b	JP¥20.2b	12.2x	23.8x	1x
Tue, 20 May 2025	JP¥463.2b	JP¥469.6b	JP¥22.5b	12.1x	20.6x	1x
Thu, 17 Apr 2025	JP¥427.9b	JP¥472.3b	JP¥22.5b	14.5x	19x	0.9x
Sat, 15 Mar 2025	JP¥384.8b	JP¥454.8b	JP¥22.3b	13x	17.3x	0.8x
Mon, 10 Feb 2025	JP¥405.0b	JP¥453.6b	JP¥22.3b	12.6x	18.2x	0.9x
Wed, 08 Jan 2025	JP¥377.2b	JP¥434.9b	JP¥22.0b	11.2x	17.1x	0.9x
Fri, 06 Dec 2024	JP¥377.2b	JP¥434.6b	JP¥22.2b	11.7x	17x	0.9x
Sun, 03 Nov 2024	JP¥368.3b	JP¥445.1b	JP¥16.5b	12.1x	22.4x	0.8x
Tue, 01 Oct 2024	JP¥407.1b	JP¥427.7b	JP¥16.9b	13.8x	24.1x	1x
Thu, 29 Aug 2024	JP¥417.8b	JP¥428.5b	JP¥16.9b	14.6x	24.7x	1x
Sat, 27 Jul 2024	JP¥380.2b	JP¥429.2b	JP¥17.3b	16.1x	21.9x	0.9x
Mon, 24 Jun 2024	JP¥365.7b	JP¥414.3b	JP¥16.5b	15.2x	22.2x	0.9x
Wed, 22 May 2024	JP¥360.5b	JP¥413.8b	JP¥15.9b	16.4x	22.7x	0.9x
Fri, 19 Apr 2024	JP¥333.5b	JP¥401.0b	JP¥22.1b	14.7x	15.1x	0.8x
Sun, 17 Mar 2024	JP¥363.3b	JP¥392.2b	JP¥20.2b	14.7x	18x	0.9x
Tue, 13 Feb 2024	JP¥336.6b	JP¥401.6b	JP¥19.4b	12.7x	17.4x	0.8x
Thu, 11 Jan 2024	JP¥422.5b	JP¥452.1b	JP¥23.5b	11x	18x	0.9x
Sat, 09 Dec 2023	JP¥399.1b	JP¥450.5b	JP¥22.9b	12.3x	17.4x	0.9x
Mon, 06 Nov 2023	JP¥390.5b	JP¥448.0b	JP¥22.9b	12.8x	17.1x	0.9x
Wed, 04 Oct 2023	JP¥314.5b	JP¥436.7b	JP¥22.0b	12.3x	14.3x	0.7x
Fri, 01 Sep 2023	JP¥330.7b	JP¥433.8b	JP¥21.5b	13.3x	15.4x	0.8x
Sun, 30 Jul 2023	JP¥383.7b	JP¥431.4b	JP¥21.5b	13.3x	17.8x	0.9x
Tue, 27 Jun 2023	JP¥380.6b	JP¥423.4b	JP¥20.5b	14.9x	18.5x	0.9x

Current Industry PE

Investors are pessimistic on the Japanese Alternative Carriers 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 14.3x which is lower than its 3-year average PE of 19.2x.

The industry is trading close to its 3-year average PS ratio of 0.88x.

Past Earnings Growth

The earnings for companies in the Alternative Carriers industry have grown 8.5% per year over the last three years.
Revenues for these companies have grown 9.0% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Japanese Alternative Carriers compare with similar industries?


JP Market	6.38%
Telecom	3.65%
Telecom Services and Carriers	-1.79%
Alternative Carriers	0.48%
Integrated Telecom Services	-1.86%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Company	Last Price	7D	1Y	Valuation
3843 FreeBit	JP¥1.48k	3.0% +JP¥938.4m	6.2%	PE9.2x
4415 Broad EnterpriseLtd	JP¥1.22k	4.1% +JP¥294.9m	76.8%	PE13.7x
3934 BENEFIT JAPAN	JP¥2.23k	1.3% +JP¥171.0m	29.8%	PE13.2x

Company

Last Price

Valuation

3843 FreeBit

JP¥1.48k

3.0%
+JP¥938.4m

6.2%

PE9.2x

4415 Broad EnterpriseLtd

JP¥1.22k

4.1%
+JP¥294.9m

76.8%

PE13.7x

3934 BENEFIT JAPAN

JP¥2.23k

1.3%
+JP¥171.0m

29.8%

PE13.2x

New minor risk - Dividend sustainability

The dividend is not well covered by cash flows. Cash payout ratio: 94% Dividend yield: 3.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Dividend is not well covered by cash flows (94% cash payout ratio). Market cap is less than US$100m (JP¥13.3b market cap, or US$83.7m).

Japanese (NIKKEI) Alternative Carriers Industry Analysis

Industry Valuation and Performance

Industry Comparison

Top Stock Gainers and Losers

Latest News

Freebit Co., Ltd. Announces Resignation of Hiroaki Yatabori, Outside Audit & Supervisory Board Member, Effective from June 18, 2026

U-NEXT HOLDINGS Co.,Ltd. to Report Q3, 2026 Results on Jul 13, 2026

Broad Enterprise Co.,Ltd. to Report Q2, 2026 Results on Aug 12, 2026

New minor risk - Dividend sustainability

Now 23% overvalued after recent price rise

Shareholders Can Be Confident That Excite Holdings' (TSE:5571) Earnings Are High Quality

Prodelight Co.,Ltd. to Report Q3, 2026 Results on Jul 14, 2026

V-cube, Inc. announced that it expects to receive ¥1.799000059 billion in funding

Third quarter 2026 earnings released: EPS: JP¥18.59 (vs JP¥18.22 in 3Q 2025)