Nomura Research Institute, Ltd.

TSE:4307 Stock Report

Market Cap: JP¥2.5t

Nomura Research Institute Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 (¥4418) is trading above our estimate of future cash flow value (¥4044.46)

Significantly Below Future Cash Flow Value: 4307 is trading above our estimate of future cash flow value.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 4307. This is calculated by dividing 4307's market cap by their current earnings.
What is 4307's PE Ratio?
PE Ratio24.1x
EarningsJP¥105.17b
Market CapJP¥2.53t

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 4307 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
4684 OBICLtd
23.3x6.32%JP¥1.7t
6701 NEC
20.9x11.89%JP¥5.1t
6702 Fujitsu
18.1x-1.74%JP¥5.8t
4768 Otsuka
17.6x6.66%JP¥1.1t
4307 Nomura Research Institute
24.1x9.64%JP¥2.5t

Price-To-Earnings vs Peers: 4307 is expensive based on its Price-To-Earnings Ratio (24.1x) compared to the peer average (20x).

Historical Price to Earnings Ratio

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

Fetching historical data

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
3909 Showcase
2.5xn/aUS$12.54m
No more companies available in this PE range
4307 24.1xIndustry Avg. 14.5xNo. of Companies35PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 4307 is expensive based on its Price-To-Earnings Ratio (24.1x) compared to the JP IT industry average (14.5x).

Price to Earnings Ratio vs Fair Ratio

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

4307 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.1x
Fair PE Ratio25.7x

Price-To-Earnings vs Fair Ratio: 4307 is good value based on its Price-To-Earnings Ratio (24.1x) compared to the estimated Fair Price-To-Earnings Ratio (25.7x).

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¥4,418.00
JP¥5,690.00
+28.79%
10.58%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¥4,900.00n/a11
May ’26JP¥5,450.00
JP¥5,275.00
-3.21%
8.34%JP¥6,000.00JP¥4,400.00n/a12
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
May ’25JP¥3,916.00
JP¥4,724.62
+20.65%
6.86%JP¥5,100.00JP¥3,850.00JP¥5,450.0013
Apr ’25JP¥4,206.00
JP¥4,680.83
+11.29%
7.82%JP¥5,100.00JP¥3,800.00JP¥5,070.0012
JP¥5.69k
Fair Value
22.4% 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 Analysis2026/04/11 02:19
End of Day Share Price 2026/04/10 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

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 26 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