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Japanese (NIKKEI) Market Analysis & Valuation

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies3906
  • 7D3.0%
  • 3M8.1%
  • 1Y58.3%
  • YTD8.4%

The market is up 3.0% over the last week, with the Information Technology sector leading the way, up 8.2%. In contrast, the Energy sector is lagging, dropping 5.6%. The market is up 58% over the last 12 months. As for the next few years, earnings are expected to grow by 10% 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
Thu, 09 Apr 2026JP¥1271.5tJP¥1038.3tJP¥65.6t14.8x19.4x1.2x
Sat, 07 Mar 2026JP¥1258.9tJP¥1040.3tJP¥65.7t15x19.2x1.2x
Mon, 02 Feb 2026JP¥1211.1tJP¥1030.1tJP¥65.3t14.7x18.5x1.2x
Wed, 31 Dec 2025JP¥1156.4tJP¥1029.2tJP¥64.3t14.5x18x1.1x
Fri, 28 Nov 2025JP¥1143.7tJP¥1031.5tJP¥64.5t14.1x17.7x1.1x
Sun, 26 Oct 2025JP¥1117.8tJP¥1025.7tJP¥59.8t14.6x18.7x1.1x
Tue, 23 Sep 2025JP¥1089.1tJP¥1026.6tJP¥59.8t14.8x18.2x1.1x
Thu, 21 Aug 2025JP¥1069.2tJP¥1026.9tJP¥59.8t14.4x17.9x1x
Sat, 19 Jul 2025JP¥977.4tJP¥1021.1tJP¥62.0t13.5x15.8x1x
Mon, 16 Jun 2025JP¥959.2tJP¥1033.9tJP¥63.7t13x15.1x0.9x
Wed, 14 May 2025JP¥966.3tJP¥1026.3tJP¥64.3t13.2x15x0.9x
Fri, 11 Apr 2025JP¥887.5tJP¥1022.7tJP¥64.2t12.3x13.8x0.9x
Sun, 09 Mar 2025JP¥942.1tJP¥1019.9tJP¥64.3t13.1x14.6x0.9x
Tue, 04 Feb 2025JP¥947.3tJP¥1011.9tJP¥63.0t13.4x15x0.9x
Thu, 02 Jan 2025JP¥971.4tJP¥1010.9tJP¥61.7t13.7x15.7x1x
Sat, 30 Nov 2024JP¥936.2tJP¥1008.6tJP¥61.8t13.4x15.1x0.9x
Mon, 28 Oct 2024JP¥919.6tJP¥1001.7tJP¥60.1t13x15.3x0.9x
Wed, 25 Sep 2024JP¥936.4tJP¥1000.0tJP¥60.1t13.4x15.6x0.9x
Fri, 23 Aug 2024JP¥941.8tJP¥999.4tJP¥59.9t13.3x15.7x0.9x
Sun, 21 Jul 2024JP¥1003.2tJP¥987.6tJP¥58.6t14.5x17.1x1x
Tue, 18 Jun 2024JP¥951.8tJP¥989.0tJP¥58.6t14x16.2x1x
Thu, 16 May 2024JP¥965.0tJP¥980.6tJP¥57.7t14.3x16.7x1x
Sat, 13 Apr 2024JP¥979.0tJP¥974.7tJP¥56.9t14.8x17.2x1x
Mon, 11 Mar 2024JP¥972.0tJP¥975.9tJP¥56.9t14.6x17.1x1x
Wed, 07 Feb 2024JP¥909.9tJP¥968.6tJP¥53.2t14.7x17.1x0.9x
Fri, 05 Jan 2024JP¥859.2tJP¥971.1tJP¥52.4t14.3x16.4x0.9x
Sun, 03 Dec 2023JP¥863.7tJP¥977.5tJP¥53.1t14.2x16.3x0.9x
Tue, 31 Oct 2023JP¥812.7tJP¥971.6tJP¥55.4t13.5x14.7x0.8x
Thu, 28 Sep 2023JP¥865.4tJP¥971.5tJP¥55.3t14.5x15.7x0.9x
Sat, 26 Aug 2023JP¥827.6tJP¥971.1tJP¥55.2t13.9x15x0.9x
Mon, 24 Jul 2023JP¥826.5tJP¥957.9tJP¥50.6t14x16.3x0.9x
Wed, 21 Jun 2023JP¥834.7tJP¥959.3tJP¥51.1t14x16.3x0.9x
Fri, 19 May 2023JP¥789.5tJP¥959.4tJP¥51.0t13.5x15.5x0.8x
Sun, 16 Apr 2023JP¥742.8tJP¥935.1tJP¥46.6t13x15.9x0.8x
Price to Earnings Ratio

15.9x


Total Market Cap: JP¥742.8tTotal Earnings: JP¥46.6tTotal Revenue: JP¥935.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Market Price to Earnings3Y Average 16.4x202420252026
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 19.4x which is higher than its 3-year average PE of 16.4x.
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 3.5% 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 Market2.99%
Tech8.16%
Materials4.02%
Real Estate3.67%
Industrials2.98%
Consumer Discretionary2.84%
Financials2.44%
Consumer Staples0.92%
Telecom0.69%
Healthcare-0.15%
Utilities-1.86%
Energy-5.63%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 25.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 19.2%, which is higher than its past year's earnings growth of 11.3% per year.
  • The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 22.7x.
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 11% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 4.0% 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¥27.68k31.2%
+JP¥3.6t		1,245.0%PE90.4xTech
6857 AdvantestJP¥24.63k16.6%
+JP¥2.6t		317.2%PE62.4xTech
8035 Tokyo ElectronJP¥42.02k10.5%
+JP¥1.8t		113.7%PE38xTech
9983 Fast RetailingJP¥68.22k8.3%
+JP¥1.6t		46.8%PE46.7xConsumer Discretionary
5803 FujikuraJP¥5.03k17.1%
+JP¥1.2t		540.3%PE57.8xIndustrials
See more

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Latest News

6857
JP¥24,625.00
Advantest
7D
16.6%
1Y
317.2%
9983
JP¥68,220.00
Fast Retailing
7D
8.3%
1Y
46.8%

Fast Retailing (TSE:9983) Ticks All The Boxes When It Comes To Earnings Growth

Apr 07
Fast Retailing (TSE:9983) Ticks All The Boxes When It Comes To Earnings Growth
7974
JP¥8,564.00
Nintendo
7D
-2.3%
1Y
-18.5%
285A
JP¥27,680.00
Kioxia Holdings
7D
31.2%
1Y
1,245.0%
4519
JP¥8,828.00
Chugai Pharmaceutical
7D
-4.0%
1Y
31.4%

4519: Rich P/E And Trial Setbacks Will Likely Restrain Future Upside

Analysts kept the fair value estimate for Chugai Pharmaceutical steady at ¥6,400. The unchanged price target is supported by updated assumptions that include revenue growth of 4.75%, a profit margin of 38.11% and a future P/E of 22.01x.
8035
JP¥42,020.00
Tokyo Electron
7D
10.5%
1Y
113.7%

8035: Future Buybacks And Dividend Policy Will Support A Higher Share Price

Analysts have lifted their price target on Tokyo Electron from ¥54,000 to ¥62,000. This reflects updated assumptions that include a slightly higher discount rate, more moderate revenue growth and profit margin expectations, and a higher future P/E multiple of 38.93 versus the prior 25.55.
9432
JP¥154.90
NTT
7D
-1.3%
1Y
5.5%

9432: Deutsche Bank Downgrade And Buybacks Will Shape Execution Risk And Opportunity Balance

Analysts have trimmed their price target on NTT to ¥146.0, reflecting updated expectations for slightly higher revenue growth and profit margins, along with a modestly lower P/E assumption, while also factoring in a recent downgrade highlighted in Street research. Analyst Commentary Recent Street research has taken a more cautious tone on NTT, with the latest downgrade reinforcing a shift toward more conservative expectations.
6503
JP¥5,639.00
Mitsubishi Electric
7D
9.3%
1Y
113.6%

6503: Power Semis And Grid Edge Alliances Will Drive Future Profitability

Analysts have kept their price target for Mitsubishi Electric steady at ¥7,000, citing updated assumptions for a lower discount rate and more modest revenue growth and profit margins, which are partly offset by a higher future P/E multiple. What's in the News Mitsubishi Electric, Toshiba and Rohm are reported to be entering negotiations to merge their power semiconductor device businesses, in a move linked to government efforts to support domestic chip players as electric vehicle demand and competition from Chinese firms influence the sector (M&A rumors and discussions).
5803
JP¥5,026.00
Fujikura
7D
17.1%
1Y
540.3%
8267
JP¥1,812.00
Aeon
7D
-6.0%
1Y
35.6%

8267: Raised Guidance And Tsuruha Consolidation Will Continue To Leave Shares Overpriced

Aeon’s analyst price target has been revised to ¥550, with analysts pointing to updated assumptions around revenue growth, profit margin, discount rate and a lower implied future P/E as key drivers of the change in view. What's in the News Aeon held an Analyst/Investor Day, providing the market with additional detail on its plans and assumptions around future performance (Key Developments).
1605
JP¥4,224.00
Inpex
7D
-7.5%
1Y
135.6%

1605: Future Cash Flows And Beetaloo Development Will Support Shareholder Returns

Analysts have raised their price target on Inpex to ¥5,000 from ¥4,859, citing updated assumptions for future revenue growth, profit margins, and a lower forward P/E multiple, while also noting that some expect softer oil and gas prices ahead. Analyst Commentary Recent research on Inpex reflects a split view, with some analysts focusing on potential downside risks from softer oil and gas price assumptions and others pointing to valuation support and execution on current projects.
5802
JP¥10,355.00
Sumitomo Electric Industries
7D
13.7%
1Y
381.7%
4578
JP¥10,900.00
Otsuka Holdings
7D
-3.7%
1Y
51.4%

4578: Future Repricing Will Rely On Morgan Stanley Upgrade Momentum

Analysts have fine tuned their view on Otsuka Holdings, trimming the price target slightly from about ¥14,603 to around ¥14,480. This reflects updated assumptions for revenue growth, profit margins and a modestly lower future P/E multiple following recent research commentary, including the Morgan Stanley upgrade rationale.
4661
JP¥2,626.00
Oriental Land
7D
-4.0%
1Y
-16.6%

4661: Cruise Subsidiary Expansion Will Support Future Upside Potential

Analysts have trimmed their price target for Oriental Land by about ¥185 to reflect an updated fair value of ¥3,584, citing slightly lower assumed profit margin and P/E multiples, while modeled revenue growth and discount rate inputs remain broadly similar to prior estimates. What's in the News A board meeting is scheduled for March 24, 2026, to review the establishment of a new subsidiary, ORIENTAL LAND CRUISE CO., LTD.
4568
JP¥2,819.00
Daiichi Sankyo Company
7D
-2.4%
1Y
-14.3%

4568: Oncology Pipeline Progress Will Drive Further Upside For Shares

Analysts have trimmed their price target on Daiichi Sankyo Company to ¥4,736.88 from ¥4,949.38, citing slightly lower assumed profit margins and a more conservative future P/E multiple, while keeping core growth assumptions broadly unchanged. What's in the News Daiichi Sankyo and AstraZeneca’s ENHERTU and DATROWAY oncology programs continue to move through global regulators, with multiple supplemental applications and Type II variations under review in the U.S., EU, Japan and China across breast, lung, gastric and other HER2 positive or TROP2 targeted cancer indications (regulatory filings).
6861
JP¥61,620.00
Keyence
7D
8.3%
1Y
5.5%