Narrative Update • Sep 03
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Japanese (NIKKEI) Utilities Sector Analysis
UpdatedSep 13, 2026
DataAggregated Company Financials
Companies32
- 7D1.9%
- 3M13.5%
- 1Y22.3%
- YTD11.8%
Over the last 7 days, the Utilities industry has risen 1.9%, driven by gains from Osaka Gas of 5.6%. In the last 12 months, the industry was up 22%. As for the next few years, earnings are expected to grow by 2.0% per annum.
Sector Valuation and Performance
Has the Japanese Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 13 Sep 2026 | JP¥16.2t | JP¥31.4t | JP¥1.8t | 10.5x | 8.8x | 0.5x |
| Tue, 11 Aug 2026 | JP¥14.2t | JP¥31.4t | JP¥1.8t | 10.8x | 7.7x | 0.5x |
| Thu, 09 Jul 2026 | JP¥14.4t | JP¥30.9t | JP¥1.2t | 10.3x | 12.4x | 0.5x |
| Sat, 06 Jun 2026 | JP¥14.1t | JP¥30.9t | JP¥1.2t | 9.3x | 12.2x | 0.5x |
| Mon, 04 May 2026 | JP¥14.6t | JP¥30.9t | JP¥1.2t | 10.4x | 11.9x | 0.5x |
| Wed, 01 Apr 2026 | JP¥15.7t | JP¥31.4t | JP¥1.1t | 10.5x | 14.1x | 0.5x |
| Fri, 27 Feb 2026 | JP¥16.2t | JP¥31.4t | JP¥1.1t | 10.2x | 14.5x | 0.5x |
| Sun, 25 Jan 2026 | JP¥14.8t | JP¥31.9t | JP¥1.1t | 10.2x | 13.1x | 0.5x |
| Tue, 23 Dec 2025 | JP¥14.2t | JP¥31.9t | JP¥1.1t | 9.7x | 12.5x | 0.4x |
| Thu, 20 Nov 2025 | JP¥14.4t | JP¥31.9t | JP¥1.1t | 9.8x | 12.6x | 0.4x |
| Sat, 18 Oct 2025 | JP¥13.0t | JP¥32.3t | JP¥924.5b | 10.6x | 14.1x | 0.4x |
| Mon, 15 Sep 2025 | JP¥13.4t | JP¥32.3t | JP¥924.5b | 10.4x | 14.5x | 0.4x |
| Wed, 13 Aug 2025 | JP¥12.7t | JP¥32.3t | JP¥923.3b | 10.8x | 13.7x | 0.4x |
| Fri, 11 Jul 2025 | JP¥11.1t | JP¥32.4t | JP¥1.8t | 10.3x | 6.2x | 0.3x |
| Sun, 08 Jun 2025 | JP¥10.4t | JP¥32.4t | JP¥1.8t | 10.2x | 5.9x | 0.3x |
| Tue, 06 May 2025 | JP¥10.9t | JP¥32.3t | JP¥1.7t | 10.6x | 6.3x | 0.3x |
| Thu, 03 Apr 2025 | JP¥10.6t | JP¥31.9t | JP¥1.7t | 9.7x | 6.2x | 0.3x |
| Sat, 01 Mar 2025 | JP¥10.7t | JP¥31.9t | JP¥1.7t | 9.3x | 6.3x | 0.3x |
| Mon, 27 Jan 2025 | JP¥10.3t | JP¥31.8t | JP¥1.5t | 10.6x | 7x | 0.3x |
| Wed, 25 Dec 2024 | JP¥10.5t | JP¥31.8t | JP¥1.5t | 11x | 7.1x | 0.3x |
| Fri, 22 Nov 2024 | JP¥10.8t | JP¥31.8t | JP¥1.5t | 11.7x | 7.3x | 0.3x |
| Sun, 20 Oct 2024 | JP¥11.6t | JP¥31.7t | JP¥1.9t | 10.4x | 6.2x | 0.4x |
| Tue, 17 Sep 2024 | JP¥11.3t | JP¥31.7t | JP¥1.9t | 10x | 6.1x | 0.4x |
| Thu, 15 Aug 2024 | JP¥11.4t | JP¥31.7t | JP¥1.9t | 11.1x | 6.2x | 0.4x |
| Sat, 13 Jul 2024 | JP¥12.2t | JP¥32.2t | JP¥2.3t | 10.2x | 5.4x | 0.4x |
| Mon, 10 Jun 2024 | JP¥13.0t | JP¥32.2t | JP¥2.3t | 10.6x | 5.8x | 0.4x |
| Wed, 08 May 2024 | JP¥12.7t | JP¥32.5t | JP¥2.3t | 8.5x | 5.5x | 0.4x |
| Fri, 05 Apr 2024 | JP¥12.2t | JP¥34.0t | JP¥3.1t | 8.1x | 3.9x | 0.4x |
| Sun, 03 Mar 2024 | JP¥10.8t | JP¥34.0t | JP¥3.1t | 7.5x | 3.4x | 0.3x |
| Tue, 30 Jan 2024 | JP¥10.8t | JP¥35.7t | JP¥2.3t | 9.9x | 4.8x | 0.3x |
| Thu, 28 Dec 2023 | JP¥10.3t | JP¥35.7t | JP¥2.3t | 9x | 4.5x | 0.3x |
| Sat, 25 Nov 2023 | JP¥10.2t | JP¥35.7t | JP¥2.3t | 8.8x | 4.5x | 0.3x |
| Mon, 23 Oct 2023 | JP¥10.0t | JP¥36.2t | JP¥1.0t | 11.1x | 9.6x | 0.3x |
| Wed, 20 Sep 2023 | JP¥11.2t | JP¥36.2t | JP¥1.0t | 11.3x | 10.7x | 0.3x |
Price to Earnings Ratio
10.7x
Current Industry PE
- Investors are relatively neutral on the Japanese Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 8.5x.
- The industry is trading close to its 3-year average PS ratio of 0.38x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 21% per year over the last three years.
- Meanwhile revenues for these companies have declined 4.6% per year.
- This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.
Industry Trends
Which industries have driven the changes within the Japanese Utilities sector?
| JP Market | -1.69% | |
| Utilities | 1.93% | |
| Gas Utilities | 3.42% | |
| Electric Utilities | 1.28% | |
| Renewable Energy | -0.14% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 9.2x.
- Analysts are expecting annual earnings growth of 9.0%, which is lower than the prior year's growth of 69.7% per year.
- Investors are most pessimistic about the Electric Utilities industry, which is trading below its 3-year average of 8.6x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 9.0% over the next 5 years.
- However this is lower than its past earnings growth rate of 70% per year.
- In contrast, the Gas Utilities industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 9532 Osaka Gas | JP¥6.04k | 5.6% +JP¥121.7b | 38.1% | PE16.4x | |
| 9502 Chubu Electric Power Company | JP¥2.99k | 2.3% +JP¥49.9b | 41.5% | PE12.7x | |
| 9531 Tokyo GasLtd | JP¥6.28k | 2.4% +JP¥48.6b | 8.6% | PE12.9x | |
| 9506 Tohoku Electric Power Company | JP¥1.42k | 3.7% +JP¥25.0b | 22.1% | PE8.5x | |
| 9507 Shikoku Electric Power Company | JP¥2.17k | 4.6% +JP¥19.6b | 56.3% | PE8x |