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NOF Corporation (4403.T)

JPY2,763.50 +12.50 (+0.45%)
JP JPX Basic Materials Chemicals - Specialty
Address Yebisu Garden Place Tower 150-6019
Tokyo, JP
CEO Koji Sawamura
Website nof.co.jp
IPO 2001-01-01
ISIN JP3753400005

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Also trades on Other OTC · NOFCF (USD) Tokyo Stock Exchange · 4403.T (JPY)
Description

NOF Corporation is a chemical manufacturing company based in Tokyo, Japan, with operations extending across Asia and globally. The firm structures its business into three primary divisions. Its Functional Chemicals segment produces a diverse range of industrial materials, including various fatty acid and oxide derivatives, specialized polymers and films, electronic components, and corrosion prevention solutions. The Life Science division focuses on products like MPC compounds, ingredients for drug delivery systems, nutritional oils, and health-promoting foods. Lastly, the Explosive & Propulsion division manufactures items such as industrial and defense explosives, rocket fuels, safety devices for vehicles, and metal goods. Additionally, NOF holds interests in logistics, insurance, and property management. The company was established in 1937.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
JPY2,763.50 +12.50 (+0.45%)
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Volume Profile
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Liquidity & share structure
Average Volume
859.6K
Beta
0.36
Float Shares
178.36M
Free Float %
78.8%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+3.12% -10.34% -9.28% -6.41% +4.48% -3.17% +27.83% +37.68% +53.70% +369.56% +1,525.90%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2,763.50
DCF (Unlevered) 3,695.64 +33.7%
DCF (Levered) 2,833.40 +2.5%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 3 0
Hold 0 -1
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
6.09
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Chemicals - Specialty: +4.7%
    +8.3% Q1'26: +25.8% (vs Q1'25)
  • EPS growth Chemicals - Specialty: +13.2%
    +14.6% Q1'26: +73.7% (vs Q1'25)
  • FCF margin FCF growth · Chemicals - Specialty: +44.1%
    +6.6% Q1'26: +0.0% (vs Q1'25)
  • EBIT margin Chemicals - Specialty: +8.8%
    +18.4% Q1'26: +18.4% (vs Q1'25)
  • ROIC Chemicals - Specialty: +5.6%
    +15.8% Q1'26: +20.8% (vs Q1'25)
  • Share dilution Chemicals - Specialty: +0.1%
    -3.1% Q1'26: -2.7% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Chemicals - Specialty: 0.18×
    0.07× Q1'26: 0.05× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.37) × ERP
WACC = 99% × Ke + 1% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 6,225.48 Current price: 2,763.50
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2015
actual
Mar 2016
actual
Mar 2017
actual
Mar 2018
actual
Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
4 Rev. Ana.
5 EPS Ana.
Mar 2027
4 Rev. Ana.
5 EPS Ana.
Mar 2028
5 Rev. Ana.
5 EPS Ana.
Mar 2029
1 Rev. Ana.
1 EPS Ana.
Mar 2030
1 Rev. Ana.
1 EPS Ana.
Mar 2031
1 Rev. Ana.
1 EPS Ana.
Revenue
167.70B
est: 164.00B (+2.3%)
170.46B
est: 170.00B (+0.3%)
174.06B
est: 171.50B (+1.5%)
179.94B
est: 180.50B (-0.3%)
189.15B
est: 189.75B (-0.3%)
180.92B
est: 182.75B (-1.0%)
172.65B
est: 170.55B (+1.2%)
192.64B
est: 190.00B (+1.4%)
217.71B
est: 218.42B (-0.3%)
222.25B
est: 228.11B (-2.6%)
238.31B
est: 243.80B (-2.3%)
260.00B
257.50B – 262.50B
+6.6% YoY
298.25B
277.44B – 315.18B
+14.7% YoY
323.25B
314.20B – 334.81B
+8.4% YoY
309.00B
294.20B – 323.14B
-4.4% YoY
295.50B
281.35B – 309.03B
-4.4% YoY
311.00B
296.11B – 325.24B
+5.2% YoY
EBITDA
21.81B
est: 37.46B (-41.8%)
24.37B
est: 38.83B (-37.2%)
29.11B
est: 39.17B (-25.7%)
30.73B
est: 41.22B (-25.4%)
33.49B
est: 43.34B (-22.7%)
32.18B
est: 41.74B (-22.9%)
32.16B
est: 38.95B (-17.4%)
41.51B
est: 43.39B (-4.4%)
46.98B
est: 49.89B (-5.8%)
49.08B
est: 59.69B (-17.8%)
53.27B
est: 63.80B (-16.5%)
68.04B
67.38B – 68.69B
+6.6% YoY
78.05B
72.60B – 82.48B
+14.7% YoY
84.59B
82.22B – 87.61B
+8.4% YoY
80.86B
76.99B – 84.56B
-4.4% YoY
77.33B
73.62B – 80.87B
-4.4% YoY
81.38B
77.49B – 85.11B
+5.2% YoY
EBIT
17.09B
est: 32.32B (-47.1%)
19.37B
est: 33.50B (-42.2%)
24.34B
est: 33.79B (-28.0%)
25.82B
est: 35.57B (-27.4%)
28.44B
est: 37.39B (-23.9%)
26.87B
est: 36.01B (-25.4%)
26.60B
est: 33.61B (-20.8%)
35.60B
est: 37.44B (-4.9%)
40.63B
est: 43.04B (-5.6%)
42.14B
est: 51.76B (-18.6%)
45.31B
est: 55.33B (-18.1%)
59.00B
58.43B – 59.57B
+6.6% YoY
67.68B
62.96B – 71.52B
+14.7% YoY
73.36B
71.30B – 75.98B
+8.4% YoY
70.12B
66.76B – 73.33B
-4.4% YoY
67.06B
63.85B – 70.13B
-4.4% YoY
70.58B
67.20B – 73.81B
+5.2% YoY
Net Income
11.70B
est: 8.62B (+35.8%)
13.59B
est: 9.04B (+50.2%)
17.59B
est: 12.32B (+42.8%)
19.91B
est: 16.93B (+17.6%)
22.03B
est: 19.19B (+14.8%)
21.14B
est: 19.98B (+5.8%)
23.30B
est: 19.59B (+19.0%)
26.69B
est: 25.19B (+5.9%)
33.97B
est: 32.39B (+4.9%)
33.99B
est: 36.02B (-5.6%)
36.50B
est: 34.06B (+7.2%)
38.45B
37.54B – 40.01B
+12.9% YoY
41.30B
40.83B – 46.57B
+7.4% YoY
46.58B
44.96B – 51.56B
+12.8% YoY
49.81B
46.77B – 52.84B
+6.9% YoY
49.60B
46.51B – 52.55B
-0.4% YoY
53.85B
50.50B – 57.06B
+8.6% YoY
SGA
24.55B
est: 24.24B (+1.3%)
25.47B
est: 25.13B (+1.4%)
25.91B
est: 25.35B (+2.2%)
26.23B
est: 26.68B (-1.7%)
27.01B
est: 28.05B (-3.7%)
26.55B
est: 27.01B (-1.7%)
25.91B
est: 25.21B (+2.8%)
28.15B
est: 28.08B (+0.2%)
29.62B
est: 32.28B (-8.2%)
31.02B
est: 32.37B (-4.2%)
32.81B
est: 34.60B (-5.1%)
36.89B
36.54B – 37.25B
+6.6% YoY
42.32B
39.37B – 44.72B
+14.7% YoY
45.87B
44.59B – 47.51B
+8.4% YoY
43.85B
41.75B – 45.85B
-4.4% YoY
41.93B
39.92B – 43.85B
-4.4% YoY
44.13B
42.02B – 46.15B
+5.2% YoY
EPS
43.16
est: 36.33 (+18.8%)
50.94
est: 38.13 (+33.6%)
67.42
est: 51.93 (+29.8%)
76.99
est: 71.40 (+7.8%)
86.43
est: 80.90 (+6.8%)
83.91
est: 84.23 (-0.4%)
93.50
est: 82.59 (+13.2%)
107.92
est: 106.22 (+1.6%)
139.01
est: 136.57 (+1.8%)
141.17
est: 150.10 (-6.0%)
153.88
est: 157.31 (-2.2%)
168.50
163.23 – 174.01
+7.1% YoY
188.54
177.56 – 202.51
+11.9% YoY
213.93
195.52 – 224.22
+13.5% YoY
216.90
203.40 – 229.81
+1.4% YoY
215.70
202.27 – 228.54
-0.6% YoY
234.20
219.62 – 248.14
+8.6% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 A- 4/5 4/5 4/5 5/5 3/5 2/5 2/5
2026-05-11 A- 4/5 4/5 4/5 5/5 3/5 2/5 2/5
2026-05-08 A- 4/5 4/5 4/5 5/5 3/5 2/5 2/5
2026-05-07 A- 4/5 4/5 4/5 5/5 3/5 2/5 2/5
2026-05-01 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-30 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-28 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-27 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-24 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-23 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-22 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-21 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-20 B+ 3/5 4/5 4/5 5/5 2/5 2/5 2/5
2026-04-17 B+ 3/5 4/5 4/5 5/5 1/5 2/5 2/5
2026-04-16 B+ 3/5 4/5 4/5 5/5 1/5 2/5 2/5
2026-04-15 B+ 3/5 4/5 4/5 5/5 1/5 2/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.77B
OE per share TTM
11.65
Owner's Yield
0.43%
Maintenance CapEx ratio
3.76%
Maint CapEx / Avg PPE
34.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 102 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares MSCI Japan Small Cap UCITS ETF IDJP.L 0.24% 1.38M 0.58%
2 iShares MSCI Japan Small-Cap ETF SCJ 0.24% 612.1K 0.50%
3 Fidelity Japan Equity Research Enhanced UCITS ETF ACC-JPY FJPR.L 0.13% 427.0K 0.25%
4 Avantis International Small Cap Equity ETF AVDS 0.12% 386.4K 0.30%
5 Xtrackers FTSE Developed ex US Multifactor ETF DEEF 0.10% 54.8K 0.24%
6 Schwab Fundamental International Small Company Index ETF FNDC 0.09% 2.76M 0.39%
7 iShares Currency Hedged MSCI EAFE Small-Cap ETF HSCZ 0.09% 205.7K 0.83%
8 iShares MSCI EAFE Small-Cap ETF SCZ 0.09% 12.39M 0.40%
9 Invesco JPX-Nikkei 400 UCITS ETF N4US.L 0.08% 165.2K 0.19%
10 Invesco JPX-Nikkei 400 UCITS ETF N400.L 0.08% 164.9K 0.19%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
12.22M
Shares Outstanding
226.43M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Akihisa Maeda Operating Officer and GM of HR & General Affairs Dept.
Eui-Chul Kang Executive Operating Officer & GM of Corporate R&D Div.
Junko Hamamoto General Manager of Corporate Communications Dept.
Kazuyoshi Yamauchi Managing Executive Officer, GM of Technology Hq., CSQO & Director male
Koji Sawamura President, Chief Executive Officer & Representative Director
Manabu Saito CCO, Executive Operating Officer & Director male
Naoya Umehara Chief Financial Officer & Executive Operating Officer male
Takeo Miyaji Executive Officer & Chairman male
Tsuneharu Miyazaki Managing Executive Officer & GM of DDS Division
Tsuyoshi Izumisawa Accounting Department Manager, Operating Officer & GM of Finance Department
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits