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Japanese (NIKKEI) Market Analysis & Valuation

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies3925
  • 7D-1.4%
  • 3M6.8%
  • 1Y34.4%
  • YTD5.0%

Over the last 7 days, the market has dropped 1.4%, driven by losses in the Financials and Industrials sectors of 3.9% and 1.9%, respectively. In contrast to the last week, the market is actually up 34% over the past year. Looking forward, earnings are forecast to grow by 9.7% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Mar 2026JP¥1236.8tJP¥1040.3tJP¥65.7t14.7x18.8x1.2x
Sun, 08 Feb 2026JP¥1250.7tJP¥1036.3tJP¥64.7t15x19.3x1.2x
Tue, 06 Jan 2026JP¥1177.8tJP¥1029.2tJP¥64.3t14.5x18.3x1.1x
Thu, 04 Dec 2025JP¥1129.6tJP¥1029.9tJP¥64.5t14x17.5x1.1x
Sat, 01 Nov 2025JP¥1137.2tJP¥1026.5tJP¥60.8t14.4x18.7x1.1x
Mon, 29 Sep 2025JP¥1095.4tJP¥1026.1tJP¥59.8t14.9x18.3x1.1x
Wed, 27 Aug 2025JP¥1058.2tJP¥1026.5tJP¥59.8t14.5x17.7x1x
Fri, 25 Jul 2025JP¥1022.5tJP¥1021.0tJP¥61.9t13.8x16.5x1x
Sun, 22 Jun 2025JP¥958.9tJP¥1029.0tJP¥63.5t13.2x15.1x0.9x
Tue, 20 May 2025JP¥955.1tJP¥1030.5tJP¥63.7t13x15x0.9x
Thu, 17 Apr 2025JP¥876.0tJP¥1021.5tJP¥64.2t12.3x13.6x0.9x
Sat, 15 Mar 2025JP¥945.4tJP¥1020.0tJP¥64.3t13.2x14.7x0.9x
Mon, 10 Feb 2025JP¥954.9tJP¥1017.3tJP¥64.9t13.3x14.7x0.9x
Wed, 08 Jan 2025JP¥969.9tJP¥1011.2tJP¥61.9t13.7x15.7x1x
Fri, 06 Dec 2024JP¥955.2tJP¥1008.5tJP¥61.8t13.5x15.5x0.9x
Sun, 03 Nov 2024JP¥929.2tJP¥1002.9tJP¥59.6t13.2x15.6x0.9x
Tue, 01 Oct 2024JP¥932.5tJP¥999.9tJP¥60.1t13.4x15.5x0.9x
Thu, 29 Aug 2024JP¥949.8tJP¥999.6tJP¥60.0t13.5x15.8x1x
Sat, 27 Jul 2024JP¥949.9tJP¥986.9tJP¥58.4t14.2x16.3x1x
Mon, 24 Jun 2024JP¥961.3tJP¥989.0tJP¥58.6t14.2x16.4x1x
Wed, 22 May 2024JP¥973.0tJP¥989.2tJP¥58.5t14.1x16.6x1x
Fri, 19 Apr 2024JP¥950.0tJP¥975.0tJP¥57.0t14.4x16.7x1x
Sun, 17 Mar 2024JP¥952.9tJP¥975.8tJP¥56.9t14.5x16.8x1x
Tue, 13 Feb 2024JP¥916.4tJP¥974.1tJP¥56.6t14.4x16.2x0.9x
Thu, 11 Jan 2024JP¥881.2tJP¥971.1tJP¥52.4t14.5x16.8x0.9x
Sat, 09 Dec 2023JP¥842.6tJP¥974.2tJP¥52.5t13.9x16x0.9x
Mon, 06 Nov 2023JP¥842.9tJP¥972.9tJP¥56.8t13.8x14.8x0.9x
Wed, 04 Oct 2023JP¥842.8tJP¥971.5tJP¥55.3t13.9x15.2x0.9x
Fri, 01 Sep 2023JP¥850.4tJP¥971.1tJP¥55.2t14.2x15.4x0.9x
Sun, 30 Jul 2023JP¥836.6tJP¥961.3tJP¥51.5t14.1x16.2x0.9x
Tue, 27 Jun 2023JP¥825.2tJP¥957.2tJP¥51.1t13.9x16.2x0.9x
Thu, 25 May 2023JP¥787.8tJP¥958.8tJP¥51.0t13.5x15.4x0.8x
Sat, 22 Apr 2023JP¥748.2tJP¥935.1tJP¥46.6t13x16x0.8x
Mon, 20 Mar 2023JP¥703.0tJP¥922.5tJP¥46.1t12.5x15.2x0.8x
Price to Earnings Ratio

15.2x


Total Market Cap: JP¥703.0tTotal Earnings: JP¥46.1tTotal Revenue: JP¥922.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Market Price to Earnings3Y Average 16.3x202420252026
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 16.3x.
Past Earnings Growth
  • The earnings for Japanese listed companies have grown 13% per year over the last three years.
  • Revenues for these companies have grown 4.1% 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 Market-1.36%
Telecom2.60%
Consumer Discretionary-0.16%
Energy-0.30%
Healthcare-0.33%
Tech-1.17%
Utilities-1.17%
Consumer Staples-1.50%
Industrials-1.87%
Materials-2.08%
Real Estate-2.33%
Financials-3.93%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading above its 3-year average PE ratio of 24.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.8%, which is higher than its past year's earnings growth of 11.7% per year.
  • The Telecom sector is the least preferred by investors for future growth, which is trading below its 3-year average of 24.2x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 4.8% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
7974 NintendoJP¥10.22k17.7%
+JP¥1.8t		-0.4%PE29.4xTelecom
285A Kioxia HoldingsJP¥21.16k5.9%
+JP¥643.2b		614.7%PE69xTech
8058 MitsubishiJP¥5.21k2.7%
+JP¥503.1b		101.9%PE26.2xIndustrials
4063 Shin-Etsu ChemicalJP¥6.51k4.3%
+JP¥495.5b		47.4%PE24.9xMaterials
4578 Otsuka HoldingsJP¥10.98k9.1%
+JP¥485.6b		44.1%PE16xHealthcare
See more

Market Insights

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Stella Ong
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Latest News

9984
JP¥3,587.00
SoftBank Group
7D
-8.6%
1Y
83.1%
7974
JP¥10,220.00
Nintendo
7D
17.7%
1Y
-0.4%
8411
JP¥6,112.00
Mizuho Financial Group
7D
-6.7%
1Y
45.5%

8411: Extended Buybacks And Stable Profit Outlook Will Likely Support Fair Value

Analysts now set their price target for Mizuho Financial Group at ¥6,753, up modestly from ¥6,716, citing small adjustments to fair value assumptions, discount rate, revenue growth, profit margin, and forward P/E inputs. What's in the News Mizuho Financial Group scheduled a board meeting for February 2, 2026 to consider and approve the repurchase of common stock, signaling continued focus on its share repurchase framework (Key Developments).
285A
JP¥21,155.00
Kioxia Holdings
7D
5.9%
1Y
614.7%
8035
JP¥38,380.00
Tokyo Electron
7D
-8.2%
1Y
78.7%

8035: Rich Dividends And Buybacks Will Still Leave Shares Overpriced

Analysts have lifted their price target for Tokyo Electron from ¥27,098 to ¥29,085, citing updated assumptions for slightly higher revenue growth, profit margins and future P/E multiples, as well as a modestly adjusted discount rate. What's in the News Tokyo Electron updated its consolidated earnings guidance for the fiscal year ending March 31, 2026, now expecting net sales of ¥2.41b, operating income of ¥593,000m, net income attributable to owners of parent of ¥550,000m, and net income per share of ¥1,200.05.
7203
JP¥3,375.00
Toyota Motor
7D
-4.0%
1Y
22.9%
4063
JP¥6,514.00
Shin-Etsu Chemical
7D
4.3%
1Y
47.4%
8306
JP¥2,656.00
Mitsubishi UFJ Financial Group
7D
-3.8%
1Y
32.8%

8306: Executive Changes And Share Buybacks Will Still Fail To Support Optimism

Analysts have raised their price target on Mitsubishi UFJ Financial Group from ¥1,857.94 to ¥2,120.00. This change reflects updated assumptions about discount rates, profit margins and future P/E expectations.
4578
JP¥10,980.00
Otsuka Holdings
7D
9.1%
1Y
44.1%

4578: Morgan Stanley Upgrade And Capital Returns Will Shape Balanced Near-Term Outlook

Narrative Update Overview The analyst price target for Otsuka Holdings has moved from ¥9,868 to ¥10,850. Analysts cite updated assumptions around revenue growth, profit margins, discount rate, and future P/E expectations following recent Street research, including the Morgan Stanley upgrade, as key drivers of the change.
8058
JP¥5,210.00
Mitsubishi
7D
2.7%
1Y
101.9%

8058: Future Outlook Will Hinge On Clarity Of Growth And Capital Plans

Narrative Update Analysts have revised their price target for Mitsubishi to ¥4,155 from ¥3,610, reflecting updated assumptions on revenue growth, profitability, discount rate and future P/E. This is supported by recent Street research that includes a Neutral initiation with a ¥3,900 target.
6857
JP¥23,765.00
Advantest
7D
-7.6%
1Y
188.2%

6857: AI Test Demand Will Support Stronger Margins And Future Upside

Analysts have raised their Advantest price target to ¥32,300, reflecting updated assumptions that include slightly adjusted discount rates, a modestly higher revenue growth outlook, stronger profit margin expectations, and a lower future P/E multiple. What's in the News Revised earnings guidance for the year ending March 31, 2026, with expected net sales of ¥1,070,000m, operating income of ¥454,000m, and net income attributable to owners of the parent of ¥328,500m, or basic EPS of ¥452.34, compared with previous guidance that referenced net sales of ¥950.0b and operating income of ¥374.0b (Corporate guidance).
5802
JP¥10,500.00
Sumitomo Electric Industries
7D
6.1%
1Y
295.5%
5803
JP¥26,715.00
Fujikura
7D
6.4%
1Y
330.1%
8316
JP¥5,115.00
Sumitomo Mitsui Financial Group
7D
-5.7%
1Y
32.3%
6098
JP¥6,482.00
Recruit Holdings
7D
-7.4%
1Y
-23.7%

6098: Ongoing Share Buybacks And Record Earnings Guidance Will Support Upside Potential

Analysts have nudged their price target on Recruit Holdings slightly lower from ¥10,198.75 to ¥10,130.00. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E.
6740
JP¥90.00
Japan Display
7D
233.3%
1Y
429.4%