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Japanese (NIKKEI) Utilities Sector Analysis

UpdatedJan 20, 2026
DataAggregated Company Financials
Companies31
  • 7D2.7%
  • 3M13.7%
  • 1Y45.1%
  • YTD1.5%

In the last week, the Utilities industry is up 2.7%, with Tokyo GasLtd up 2.2%. Meanwhile, Tokyo Electric Power Company Holdings actually underperformed within the industry, shrinking 5.3% in the last week. In the last 12 months, the industry was up 45%. As for the next few years, earnings are forecast to decline by 1.2% per annum.

Sector Valuation and Performance

Has the Japanese Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 20 Jan 2026JP¥14.7tJP¥31.9tJP¥1.1t10.3x13x0.5x
Thu, 18 Dec 2025JP¥14.1tJP¥31.9tJP¥1.1t9.3x12.4x0.4x
Sat, 15 Nov 2025JP¥14.4tJP¥31.9tJP¥1.1t9.9x12.7x0.5x
Mon, 13 Oct 2025JP¥12.9tJP¥32.3tJP¥924.5b10.7x13.9x0.4x
Wed, 10 Sep 2025JP¥13.2tJP¥32.3tJP¥923.8b10.9x14.3x0.4x
Fri, 08 Aug 2025JP¥12.5tJP¥32.3tJP¥926.4b10.1x13.5x0.4x
Sun, 06 Jul 2025JP¥11.3tJP¥32.4tJP¥1.8t9.9x6.4x0.4x
Tue, 03 Jun 2025JP¥10.6tJP¥32.4tJP¥1.8t10.3x6x0.3x
Thu, 01 May 2025JP¥10.9tJP¥32.0tJP¥1.7t9.9x6.5x0.3x
Sat, 29 Mar 2025JP¥11.0tJP¥31.9tJP¥1.7t9.8x6.5x0.3x
Mon, 24 Feb 2025JP¥10.6tJP¥31.9tJP¥1.7t9.2x6.2x0.3x
Wed, 22 Jan 2025JP¥10.4tJP¥31.8tJP¥1.5t10.7x7x0.3x
Fri, 20 Dec 2024JP¥10.1tJP¥31.8tJP¥1.5t10.6x6.9x0.3x
Sun, 17 Nov 2024JP¥10.9tJP¥31.8tJP¥1.5t11.8x7.4x0.3x
Tue, 15 Oct 2024JP¥11.5tJP¥31.7tJP¥1.9t10.4x6.2x0.4x
Thu, 12 Sep 2024JP¥11.3tJP¥31.7tJP¥1.9t9.9x6.1x0.4x
Sat, 10 Aug 2024JP¥11.1tJP¥31.7tJP¥1.9t10.8x6x0.4x
Mon, 08 Jul 2024JP¥12.2tJP¥32.2tJP¥2.3t9.8x5.4x0.4x
Wed, 05 Jun 2024JP¥13.0tJP¥32.2tJP¥2.3t10.6x5.8x0.4x
Fri, 03 May 2024JP¥12.7tJP¥32.5tJP¥2.3t8.6x5.5x0.4x
Sun, 31 Mar 2024JP¥11.9tJP¥34.0tJP¥3.1t7.8x3.8x0.4x
Tue, 27 Feb 2024JP¥10.7tJP¥34.0tJP¥3.1t7.3x3.4x0.3x
Thu, 25 Jan 2024JP¥10.7tJP¥35.7tJP¥2.3t9.7x4.7x0.3x
Sat, 23 Dec 2023JP¥10.2tJP¥35.7tJP¥2.3t9x4.5x0.3x
Mon, 20 Nov 2023JP¥10.4tJP¥35.7tJP¥2.3t8.9x4.6x0.3x
Wed, 18 Oct 2023JP¥10.2tJP¥36.2tJP¥1.0t11.1x9.8x0.3x
Fri, 15 Sep 2023JP¥10.8tJP¥36.2tJP¥1.0t11x10.4x0.3x
Sun, 13 Aug 2023JP¥9.8tJP¥36.2tJP¥1.0t10.3x9.4x0.3x
Tue, 11 Jul 2023JP¥9.2tJP¥35.3t-JP¥20,011,000,000.0011.3x-461.9x0.3x
Thu, 08 Jun 2023JP¥9.1tJP¥35.3t-JP¥21,037,000,000.0013.2x-433.1x0.3x
Sat, 06 May 2023JP¥8.6tJP¥35.0tJP¥18.4b13.8x466.1x0.2x
Mon, 03 Apr 2023JP¥8.0tJP¥33.2t-JP¥1,077,044,000,000.0014.1x-7.5x0.2x
Wed, 01 Mar 2023JP¥8.1tJP¥33.1t-JP¥1,075,885,000,000.0013.3x-7.5x0.2x
Fri, 27 Jan 2023JP¥7.8tJP¥29.9t-JP¥616,572,000,000.0013x-12.7x0.3x
Price to Earnings Ratio

-12.7x


Total Market Cap: JP¥7.8tTotal Earnings: -JP¥616,572,000,000.00Total Revenue: JP¥29.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Utilities Sector Price to Earnings3Y Average -25.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Japanese Utilities 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 13.0x which is higher than its 3-year average PE of -25.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.33x.
Past Earnings Growth
  • Total earnings for the Utilities industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 2.1% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Japanese Utilities sector?

JP Market3.73%
Utilities2.72%
Renewable Energy4.59%
Gas Utilities4.24%
Electric Utilities1.54%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 5.0x.
    • Analysts are expecting annual earnings growth of 3.0%, which is lower than the prior year's growth of 40.1% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 7.9x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 3.0% over the next 5 years.
  • In contrast, the Renewable Energy industry is expected to see its earnings decline by 9.8% 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
9531 Tokyo GasLtdJP¥6.55k2.5%
+JP¥53.7b		56.9%PE11.9x
9532 Osaka GasJP¥5.58k1.2%
+JP¥24.7b		77.6%PE12.1x
9533 Toho GasJP¥5.19k4.5%
+JP¥20.7b		31.0%PE17.3x
8174 Nippon GasJP¥2.99k2.1%
+JP¥6.7b		37.7%PE24.2x
9519 RENOVAJP¥726.008.8%
+JP¥5.3b		8.0%PE10.7x

Latest News

9532
JP¥5,575.00
Osaka Gas
7D
1.2%
1Y
77.6%

Here's Why We Think Osaka Gas (TSE:9532) Is Well Worth Watching

Jan 16
Here's Why We Think Osaka Gas (TSE:9532) Is Well Worth Watching
9519
JP¥726.00
RENOVA
7D
8.8%
1Y
8.0%

Insufficient Growth At RENOVA, Inc. (TSE:9519) Hampers Share Price

Jan 15
Insufficient Growth At RENOVA, Inc. (TSE:9519) Hampers Share Price
8174
JP¥2,991.50
Nippon Gas
7D
2.1%
1Y
37.7%
9501
JP¥685.50
Tokyo Electric Power Company Holdings
7D
-5.1%
1Y
62.2%
9533
JP¥5,189.00
Toho Gas
7D
4.5%
1Y
31.0%

Is Toho Gas (TSE:9533) Using Too Much Debt?

Jan 09
Is Toho Gas (TSE:9533) Using Too Much Debt?
9513
JP¥3,369.00
Electric Power Development
7D
0.9%
1Y
38.5%
9505
JP¥1,013.50
Hokuriku Electric Power
7D
1.9%
1Y
28.2%
9503
JP¥2,515.00
Kansai Electric Power Company
7D
-1.8%
1Y
49.0%
1663
JP¥4,155.00
K&O Energy Group
7D
4.3%
1Y
22.7%
9531
JP¥6,554.00
Tokyo GasLtd
7D
2.5%
1Y
56.9%
3361
JP¥860.00
ToellLtd
7D
-0.2%
1Y
11.0%
9534
JP¥804.00
Hokkaido Gas
7D
-0.7%
1Y
47.3%