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Japanese (NIKKEI) Market Analysis & Valuation

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies3912
  • 7D-1.7%
  • 3M2.4%
  • 1Y30.7%
  • YTD0.5%

Over the last 7 days, the market has dropped 1.7%, driven by losses in the Industrials and Information Technology sectors of 2.7% and 4.5%, respectively. As for the longer term, the market has actually risen by 31% in the last year. As for the next few years, earnings are expected to grow by 9.8% 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
Wed, 01 Apr 2026JP¥1179.6tJP¥1038.8tJP¥65.6t14.1x18x1.1x
Fri, 27 Feb 2026JP¥1314.3tJP¥1040.7tJP¥65.7t15.3x20x1.3x
Sun, 25 Jan 2026JP¥1227.9tJP¥1026.8tJP¥64.4t15.1x19.1x1.2x
Tue, 23 Dec 2025JP¥1154.6tJP¥1029.6tJP¥64.3t14.3x18x1.1x
Thu, 20 Nov 2025JP¥1107.7tJP¥1033.1tJP¥64.9t13.6x17.1x1.1x
Sat, 18 Oct 2025JP¥1083.4tJP¥1025.7tJP¥59.8t14.3x18.1x1.1x
Mon, 15 Sep 2025JP¥1088.4tJP¥1026.5tJP¥59.8t14.7x18.2x1.1x
Wed, 13 Aug 2025JP¥1052.5tJP¥1022.6tJP¥58.6t14.3x18x1x
Fri, 11 Jul 2025JP¥970.8tJP¥1022.2tJP¥62.1t13.4x15.6x0.9x
Sun, 08 Jun 2025JP¥963.7tJP¥1035.0tJP¥63.7t13.1x15.1x0.9x
Tue, 06 May 2025JP¥938.9tJP¥1024.1tJP¥64.6t12.9x14.5x0.9x
Thu, 03 Apr 2025JP¥921.8tJP¥1020.8tJP¥64.1t12.9x14.4x0.9x
Sat, 01 Mar 2025JP¥935.6tJP¥1020.2tJP¥64.4t13x14.5x0.9x
Mon, 27 Jan 2025JP¥957.3tJP¥1010.0tJP¥61.9t13.5x15.5x0.9x
Wed, 25 Dec 2024JP¥951.6tJP¥1010.9tJP¥61.8t13.4x15.4x0.9x
Fri, 22 Nov 2024JP¥936.1tJP¥1007.2tJP¥61.7t13.5x15.2x0.9x
Sun, 20 Oct 2024JP¥943.1tJP¥1001.0tJP¥60.1t13.5x15.7x0.9x
Tue, 17 Sep 2024JP¥908.1tJP¥1000.0tJP¥60.1t13.2x15.1x0.9x
Thu, 15 Aug 2024JP¥909.4tJP¥997.9tJP¥60.0t13x15.2x0.9x
Sat, 13 Jul 2024JP¥1015.3tJP¥987.0tJP¥58.5t14.6x17.4x1x
Mon, 10 Jun 2024JP¥968.3tJP¥989.6tJP¥58.6t14.1x16.5x1x
Wed, 08 May 2024JP¥971.9tJP¥974.4tJP¥56.5t14.5x17.2x1x
Fri, 05 Apr 2024JP¥971.9tJP¥975.8tJP¥56.9t14.6x17.1x1x
Sun, 03 Mar 2024JP¥966.6tJP¥975.7tJP¥56.9t14.5x17x1x
Tue, 30 Jan 2024JP¥908.2tJP¥971.3tJP¥52.4t14.8x17.3x0.9x
Thu, 28 Dec 2023JP¥854.7tJP¥971.2tJP¥52.5t14x16.3x0.9x
Sat, 25 Nov 2023JP¥867.5tJP¥977.7tJP¥53.1t14.1x16.3x0.9x
Mon, 23 Oct 2023JP¥820.7tJP¥971.7tJP¥55.3t13.8x14.9x0.8x
Wed, 20 Sep 2023JP¥882.3tJP¥971.3tJP¥55.2t14.5x16x0.9x
Fri, 18 Aug 2023JP¥821.2tJP¥970.5tJP¥55.1t13.8x14.9x0.8x
Sun, 16 Jul 2023JP¥818.6tJP¥957.6tJP¥50.6t13.8x16.2x0.9x
Tue, 13 Jun 2023JP¥817.9tJP¥959.2tJP¥51.1t13.7x16x0.9x
Thu, 11 May 2023JP¥766.0tJP¥943.3tJP¥47.3t13.5x16.2x0.8x
Sat, 08 Apr 2023JP¥723.3tJP¥934.0tJP¥46.6t12.7x15.5x0.8x
Price to Earnings Ratio

15.5x


Total Market Cap: JP¥723.3tTotal Earnings: JP¥46.6tTotal Revenue: JP¥934.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Japanese Market Price to Earnings3Y Average 16.4x202420252026
Current Market PE
  • Investors are relatively neutral on the Japanese market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio 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 3.6% 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-1.74%
Energy3.30%
Utilities2.45%
Consumer Staples1.78%
Healthcare0.61%
Telecom-0.34%
Financials-0.69%
Materials-1.55%
Consumer Discretionary-2.16%
Industrials-2.69%
Real Estate-2.89%
Tech-4.50%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 25.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.9%, 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 23.2x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 18% 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 2.9% 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
8306 Mitsubishi UFJ Financial GroupJP¥2.80k3.1%
+JP¥953.8b		42.8%PB1.5xFinancials
6098 Recruit HoldingsJP¥7.10k10.6%
+JP¥885.2b		-12.3%PE20xIndustrials
4519 Chugai PharmaceuticalJP¥8.98k6.2%
+JP¥859.1b		36.4%PE34.1xHealthcare
6758 Sony GroupJP¥3.38k3.4%
+JP¥649.8b		-8.5%PE16xConsumer Discretionary
8002 MarubeniJP¥5.97k6.4%
+JP¥592.9b		151.6%PE19.2xIndustrials
See more

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Latest News

9434
JP¥211.90
SoftBank
7D
-3.8%
1Y
1.4%
6098
JP¥7,096.00
Recruit Holdings
7D
10.6%
1Y
-12.3%
5802
JP¥9,265.00
Sumitomo Electric Industries
7D
-9.3%
1Y
284.0%
6857
JP¥22,505.00
Advantest
7D
-3.9%
1Y
249.3%

6857: Capital Returns And Margin Strength Will Support Future Upside

Analysts have raised their price target on Advantest from about ¥19,200 to roughly ¥28,400, citing updated assumptions for higher revenue growth, stronger profit margins and a slightly different P/E outlook as key drivers of the change. What's in the News A board meeting is scheduled for January 28, 2026, to discuss the cancellation of treasury shares, indicating a focus on capital structure decisions (company filing).
6501
JP¥4,745.00
Hitachi
7D
-2.8%
1Y
36.9%
6503
JP¥5,319.00
Mitsubishi Electric
7D
-4.0%
1Y
94.1%
8411
JP¥6,599.00
Mizuho Financial Group
7D
2.8%
1Y
64.5%

8411: Extended Buybacks And Earnings Guidance Will Likely Support Fair Value

The analyst price target for Mizuho Financial Group has shifted from about ¥6,753 to ¥6,920, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that analysts see as better aligning with their latest valuation work. What's in the News Mizuho Financial Group provided earnings guidance for the fiscal year ending March 31, 2026, projecting profit attributable to owners of parent of ¥1,130,000 million and earnings per share of common stock of ¥454.39 (company guidance).
8766
JP¥7,510.00
Tokio Marine Holdings
7D
-4.4%
1Y
28.9%

8766: Share Buyback And New Partner Relationship Will Support Future Returns

Analysts have raised their price target for Tokio Marine Holdings from ¥6,982 to approximately ¥7,367, citing updated assumptions for revenue growth, profit margins and future P/E levels. What's in the News Tokio Marine Holdings approved a share repurchase program of up to 48,207,200 shares, about 2.6% of issued share capital, with a total budget of ¥287.4b, running through September 18, 2026, primarily to offset dilution from a treasury share disposition (Key Developments).
8035
JP¥39,280.00
Tokyo Electron
7D
-2.7%
1Y
90.3%
8316
JP¥5,455.00
Sumitomo Mitsui Financial Group
7D
2.7%
1Y
48.2%
4519
JP¥8,984.00
Chugai Pharmaceutical
7D
6.2%
1Y
36.4%

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

Analysts have nudged their price target for Chugai Pharmaceutical down from ¥6,584.94 to ¥6,400. This change reflects updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple.
8306
JP¥2,803.00
Mitsubishi UFJ Financial Group
7D
3.1%
1Y
42.8%
6146
JP¥63,490.00
Disco
7D
-6.6%
1Y
110.0%
6758
JP¥3,376.00
Sony Group
7D
3.4%
1Y
-8.5%

6758: Content Franchises Will Offset Memory And AI Risks Over Time

Analysts have nudged their fair value estimate for Sony Group lower from about ¥4,969 to roughly ¥4,887. This reflects slightly softer long term revenue growth assumptions, marginally slimmer profit margins, and a modestly reduced future P/E, as they factor in potential pressure on PlayStation hardware economics from higher memory costs and ongoing questions around AI risk for the music business.
8002
JP¥5,971.00
Marubeni
7D
6.4%
1Y
151.6%
9983
JP¥63,880.00
Fast Retailing
7D
2.4%
1Y
38.6%