Nomura Research Institute, Ltd.

TSE:4307 Stock Report

Market Cap: JP¥2.6t

Nomura Research Institute Valuation

Is 4307 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 4307 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 4307 (¥4600) is trading below our estimate of future cash flow value (¥5022.05)

Significantly Below Future Cash Flow Value: 4307 is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4307?

Key metric: As 4307 is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4307. This is calculated by dividing 4307's market cap by their current revenue.
What is 4307's PS Ratio?
PS Ratio3.2x
SalesJP¥814.71b
Market CapJP¥2.64t

Price to Sales Ratio vs Peers

How does 4307's PS Ratio compare to its peers?

The above table shows the PS ratio for 4307 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.2x
4684 OBICLtd
12.7x8.06%JP¥1.7t
6701 NEC
1.5x3.79%JP¥5.3t
6702 Fujitsu
1.7x3.53%JP¥5.8t
4768 Otsuka
0.8x4.72%JP¥1.1t
4307 Nomura Research Institute
3.2x5.22%JP¥2.6t

Price-To-Sales vs Peers: 4307 is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (4.2x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does 4307's PS Ratio compare vs other companies in the JP IT Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
2743 Pixel Companyz
0.1xn/aUS$912.51k
No more companies available in this PS range
4307 3.2xIndustry Avg. 0.9xNo. of Companies32PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 4307 is expensive based on its Price-To-Sales Ratio (3.2x) compared to the JP IT industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

What is 4307's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4307 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio3.7x

Price-To-Sales vs Fair Ratio: 4307 is good value based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (3.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4307 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥4,600.00
JP¥5,663.33
+23.12%
8.09%JP¥6,700.00JP¥4,900.00n/a15
Jun ’27JP¥5,224.00
JP¥5,730.00
+9.69%
9.41%JP¥6,800.00JP¥4,900.00n/a15
May ’27JP¥4,183.00
JP¥5,730.00
+36.98%
11.00%JP¥6,800.00JP¥4,900.00n/a15
Apr ’27JP¥4,635.00
JP¥5,690.00
+22.76%
10.58%JP¥6,800.00JP¥4,900.00n/a15
Mar ’27JP¥4,367.00
JP¥6,443.33
+47.55%
10.87%JP¥7,700.00JP¥5,000.00n/a15
Feb ’27JP¥4,701.00
JP¥6,623.33
+40.89%
8.71%JP¥7,700.00JP¥5,000.00n/a15
Jan ’27JP¥6,021.00
JP¥6,550.00
+8.79%
8.93%JP¥7,700.00JP¥5,000.00n/a13
Dec ’26JP¥6,285.00
JP¥6,579.17
+4.68%
9.12%JP¥7,700.00JP¥5,000.00n/a12
Nov ’26JP¥6,030.00
JP¥6,100.83
+1.17%
8.48%JP¥6,800.00JP¥5,000.00n/a12
Oct ’26JP¥5,658.00
JP¥6,092.50
+7.68%
8.79%JP¥6,800.00JP¥4,900.00n/a12
Sep ’26JP¥5,725.00
JP¥5,967.50
+4.24%
8.86%JP¥6,800.00JP¥4,900.00n/a12
Aug ’26JP¥6,086.00
JP¥5,947.27
-2.28%
9.08%JP¥6,800.00JP¥4,900.00n/a11
Jul ’26JP¥5,689.00
JP¥5,754.55
+1.15%
8.43%JP¥6,800.00JP¥4,900.00n/a11
Jun ’26JP¥5,578.00
JP¥5,709.09
+2.35%
9.10%JP¥6,800.00JP¥4,900.00JP¥5,224.0011
May ’26JP¥5,450.00
JP¥5,275.00
-3.21%
8.34%JP¥6,000.00JP¥4,400.00JP¥4,183.0012
Apr ’26JP¥5,070.00
JP¥5,207.69
+2.72%
9.33%JP¥6,000.00JP¥4,400.00JP¥4,635.0013
Mar ’26JP¥4,977.00
JP¥5,150.00
+3.48%
9.23%JP¥6,000.00JP¥4,400.00JP¥4,367.0012
Feb ’26JP¥5,293.00
JP¥4,930.77
-6.84%
6.67%JP¥5,500.00JP¥4,400.00JP¥4,701.0013
Jan ’26JP¥4,659.00
JP¥4,941.67
+6.07%
6.68%JP¥5,500.00JP¥4,400.00JP¥6,021.0012
Dec ’25JP¥4,581.00
JP¥4,941.67
+7.87%
6.68%JP¥5,500.00JP¥4,400.00JP¥6,285.0012
Nov ’25JP¥4,493.00
JP¥4,975.00
+10.73%
8.13%JP¥5,500.00JP¥4,400.00JP¥6,030.0012
Oct ’25JP¥5,283.00
JP¥4,897.69
-7.29%
6.75%JP¥5,400.00JP¥4,400.00JP¥5,658.0013
Sep ’25JP¥4,910.00
JP¥4,820.77
-1.82%
8.01%JP¥5,400.00JP¥4,000.00JP¥5,725.0013
Aug ’25JP¥4,647.00
JP¥4,751.54
+2.25%
7.13%JP¥5,300.00JP¥4,000.00JP¥6,086.0013
Jul ’25JP¥4,551.00
JP¥4,678.46
+2.80%
7.94%JP¥5,100.00JP¥3,850.00JP¥5,689.0013
Jun ’25JP¥4,204.00
JP¥4,732.50
+12.57%
7.60%JP¥5,100.00JP¥3,850.00JP¥5,578.0012
JP¥5.66k
Fair Value
18.8% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/11 17:42
End of Day Share Price 2026/06/11 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nomura Research Institute, Ltd. is covered by 23 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yuki KanekoBofA Global Research
Moriya KoketsuCitigroup Inc
Hideo NodaCLSA