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Japanese (NIKKEI) Market Analysis & Valuation

UpdatedMay 31, 2026
DataAggregated Company Financials
Companies3903
  • 7D1.9%
  • 3M1.5%
  • 1Y41.5%
  • YTD14.7%

The market has climbed 1.9% in the last 7 days, lead by the Information Technology sector with a gain of 7.7%. As for the past 12 months, the market is up 41%. As for the next few years, earnings are expected to grow by 8.9% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Japanese Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 31 May 2026JP¥1344.9tJP¥1057.6tJP¥71.4t13.8x18.8x1.3x
Tue, 28 Apr 2026JP¥1262.8tJP¥1038.9tJP¥65.6t14.3x19.2x1.2x
Thu, 26 Mar 2026JP¥1231.1tJP¥1039.4tJP¥65.6t14.6x18.8x1.2x
Sat, 21 Feb 2026JP¥1290.5tJP¥1040.7tJP¥65.7t15.2x19.6x1.2x
Mon, 19 Jan 2026JP¥1235.2tJP¥1027.4tJP¥64.4t15.1x19.2x1.2x
Wed, 17 Dec 2025JP¥1141.1tJP¥1030.1tJP¥64.2t14.2x17.8x1.1x
Fri, 14 Nov 2025JP¥1153.0tJP¥1031.6tJP¥64.2t14.3x18x1.1x
Sun, 12 Oct 2025JP¥1092.0tJP¥1023.5tJP¥59.8t14.4x18.3x1.1x
Tue, 09 Sep 2025JP¥1080.2tJP¥1026.4tJP¥59.8t14.7x18.1x1.1x
Thu, 07 Aug 2025JP¥1021.6tJP¥1021.2tJP¥60.3t14.2x16.9x1x
Sat, 05 Jul 2025JP¥974.5tJP¥1027.1tJP¥62.7t13.3x15.5x0.9x
Mon, 02 Jun 2025JP¥974.4tJP¥1033.2tJP¥63.7t13.1x15.3x0.9x
Wed, 30 Apr 2025JP¥925.9tJP¥1022.1tJP¥64.4t12.9x14.4x0.9x
Fri, 28 Mar 2025JP¥976.4tJP¥1020.9tJP¥64.4t13.6x15.2x1x
Sun, 23 Feb 2025JP¥953.7tJP¥1020.2tJP¥64.4t13.1x14.8x0.9x
Tue, 21 Jan 2025JP¥943.8tJP¥1010.1tJP¥61.9t13.4x15.2x0.9x
Thu, 19 Dec 2024JP¥949.4tJP¥1007.8tJP¥61.6t13.4x15.4x0.9x
Sat, 16 Nov 2024JP¥945.7tJP¥1006.7tJP¥60.9t13.5x15.5x0.9x
Mon, 14 Oct 2024JP¥950.8tJP¥999.1tJP¥60.1t13.5x15.8x1x
Wed, 11 Sep 2024JP¥910.3tJP¥1000.0tJP¥60.1t13.3x15.1x0.9x
Fri, 09 Aug 2024JP¥869.6tJP¥995.0tJP¥59.2t12.5x14.7x0.9x
Sun, 07 Jul 2024JP¥1008.6tJP¥986.0tJP¥58.3t14.4x17.3x1x
Tue, 04 Jun 2024JP¥982.5tJP¥989.6tJP¥58.6t14.2x16.8x1x
Thu, 02 May 2024JP¥965.8tJP¥974.6tJP¥56.5t14.4x17.1x1x
Sat, 30 Mar 2024JP¥987.1tJP¥975.9tJP¥56.9t14.9x17.4x1x
Mon, 26 Feb 2024JP¥950.8tJP¥975.7tJP¥56.9t14.3x16.7x1x
Wed, 24 Jan 2024JP¥913.1tJP¥971.4tJP¥52.5t14.7x17.4x0.9x
Fri, 22 Dec 2023JP¥841.3tJP¥971.1tJP¥52.5t13.9x16x0.9x
Sun, 19 Nov 2023JP¥865.0tJP¥976.9tJP¥52.7t14x16.4x0.9x
Tue, 17 Oct 2023JP¥839.6tJP¥971.5tJP¥55.2t14x15.2x0.9x
Thu, 14 Sep 2023JP¥864.7tJP¥971.2tJP¥55.2t14.4x15.7x0.9x
Sat, 12 Aug 2023JP¥839.5tJP¥968.8tJP¥55.3t14x15.2x0.9x
Mon, 10 Jul 2023JP¥823.4tJP¥957.2tJP¥50.6t13.9x16.3x0.9x
Wed, 07 Jun 2023JP¥816.6tJP¥959.1tJP¥51.1t13.6x16x0.9x
Price to Earnings Ratio

16x


Total Market Cap: JP¥816.6tTotal Earnings: JP¥51.1tTotal Revenue: JP¥959.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Market Price to Earnings3Y Average 16.5x202420252026
Current Market PE
  • Investors are optimistic on the Japanese market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 18.8x which is higher than its 3-year average PE of 16.5x.
Past Earnings Growth
  • The earnings for Japanese listed companies have grown 12% per year over the last three years.
  • Revenues for these companies have grown 3.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Japanese Market?

JP Market1.91%
Tech7.67%
Materials3.92%
Consumer Discretionary3.06%
Telecom3.04%
Real Estate0.41%
Industrials0.36%
Utilities0.049%
Healthcare-0.085%
Consumer Staples-0.56%
Financials-2.29%
Energy-2.34%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 25.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 18.8%, which is higher than its past year's earnings growth of 15.1% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 10.7x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
285A Kioxia HoldingsJP¥65.85k14.7%
+JP¥4.6t		3,037.2%PE64.9xTech
6981 Murata ManufacturingJP¥9.63k35.0%
+JP¥4.5t		351.5%PE74.9xTech
9984 SoftBank GroupJP¥7.49k10.9%
+JP¥4.2t		293.5%PE8.6xTelecom
9983 Fast RetailingJP¥82.33k9.0%
+JP¥2.1t		70.3%PE52.8xConsumer Discretionary
6762 TDKJP¥4.11k21.9%
+JP¥1.4t		156.8%PE39.9xTech
See more

Market Insights

Header cover image
Japan was the world's source of cheap money for decades. Now its bond yields are at a generational high, a shift with potential implications that extend well beyond Tokyo.
Continue reading
Earnings Season vs. AI

Latest News

9984
JP¥7,491.00
SoftBank Group
7D
10.9%
1Y
293.5%
8035
JP¥52,420.00
Tokyo Electron
7D
5.2%
1Y
127.9%
6762
JP¥4,108.00
TDK
7D
21.9%
1Y
156.8%
7011
JP¥3,806.00
Mitsubishi Heavy Industries
7D
-4.1%
1Y
13.5%
8058
JP¥5,065.00
Mitsubishi
7D
-6.8%
1Y
72.6%
8306
JP¥2,999.00
Mitsubishi UFJ Financial Group
7D
-3.0%
1Y
48.1%
6981
JP¥9,625.00
Murata Manufacturing
7D
35.0%
1Y
351.5%
8766
JP¥7,111.00
Tokio Marine Holdings
7D
-3.7%
1Y
16.3%
285A
JP¥65,850.00
Kioxia Holdings
7D
14.7%
1Y
3,037.2%
6857
JP¥26,170.00
Advantest
7D
-2.5%
1Y
255.2%
Narrative Update • May 24

6857: AI And HPC Optimism Will Outpace Earnings Despite Recent Upgrade

Analysts have raised their price target on Advantest to ¥23,000 from about ¥21,865. They cite updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E following recent research that includes an upgrade at a major brokerage.
6098
JP¥10,570.00
Recruit Holdings
7D
8.0%
1Y
21.6%
4063
JP¥7,758.00
Shin-Etsu Chemical
7D
10.3%
1Y
67.2%
8411
JP¥7,195.00
Mizuho Financial Group
7D
-3.5%
1Y
79.8%
Narrative Update • May 18

8411: Share Repurchases And Capital Policy Will Support Higher Future Earnings Multiple

Analysts have raised their price target for Mizuho Financial Group from ¥7,212.08 to ¥7,615.00, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News Mizuho Financial Group announced a share repurchase program of up to 25,000,000 shares, about 1.03% of issued share capital, for ¥100,000 million.
8031
JP¥5,290.00
Mitsui
7D
-5.2%
1Y
74.6%
Narrative Update • May 16

8031: Share Buybacks And Offtake Opportunity Will Support Balanced Future Outlook

Analysts now estimate Mitsui's fair value at ¥6,491.54, up from ¥6,436.92. This reflects updated views that incorporate slightly higher revenue growth expectations, a modestly stronger profit margin, and a somewhat lower future P/E assumption.
8316
JP¥5,819.00
Sumitomo Mitsui Financial Group
7D
-3.1%
1Y
57.3%
9983
JP¥82,330.00
Fast Retailing
7D
9.0%
1Y
70.3%