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Nihon Kohden Corporation (6849.T)

JPY1,542.50 +4.00 (+0.26%)
JP JPX Healthcare Medical - Devices
Address 1-31-4 Nishiochiai 161-8560
Tokyo, JP
CEO Hirokazu Ogino
IPO 2001-01-01
ISIN JP3706800004

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Also trades on Other OTC · NHNKF (USD) Other OTC · NHNKY (USD) Tokyo Stock Exchange · 6849.T (JPY)
Description

Nihon Kohden Corporation, founded in 1951 and headquartered in Tokyo, Japan, is a global leader in healthcare technology. The company’s core operations encompass the research, development, manufacturing, sales, repair, and maintenance of advanced medical electronic equipment, serving markets across Japan, the Americas, Europe, Asia, and other international regions. Its extensive product range features sophisticated physiological measurement instruments, including electroencephalographs (EEGs), electrocardiographs (ECGs), evoked potential and electromyogram (EMG) systems, and polygraphs for cardiac catheterization laboratories. These offerings are integrated with diagnostic information systems and supported by essential consumables like recording papers, electrodes, and catheters, along with comprehensive maintenance services. Nihon Kohden also delivers cutting-edge patient monitoring solutions, such as central, bedside, and wireless monitors, alongside remote access software. These are seamlessly linked with clinical information systems and provided with associated disposables, including various electrodes and sensors. The company's therapeutic device portfolio includes critical equipment like defibrillators (including automated external defibrillators or AEDs), ventilators, pacemakers, anesthesia machines, and cochlear implants. Necessary consumables, such as AED pads and batteries, and related services are also supplied for these products. Furthermore, Nihon Kohden offers other specialized medical apparatus, such as hematology and clinical chemistry analyzers, ultrasound diagnostic equipment, and tools for research purposes. These are accompanied by consumables like test reagents, installation services, and ongoing maintenance. Beyond its primary focus on medical devices, the corporation also participates in insurance brokerage and technology licensing.

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
JPY1,542.50 +4.00 (+0.26%)
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Volume Profile
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Liquidity & share structure
Average Volume
604.7K
Beta
0.37
Float Shares
156.51M
Free Float %
97.8%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.27% +3.46% -3.67% -12.31% -6.12% -12.57% -18.55% -21.72% -5.49% -6.68% +1,569.30%
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
1,542.50
DCF (Unlevered) 2,135.40 +38.4%
DCF (Levered) 1,978.17 +28.2%

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) 50% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 2 0
Hold 4 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
4.54
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
6 / 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
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Medical - Devices: +11.2%
    +4.3% Q1'26: +6.2% (vs Q1'25)
  • EPS growth Medical - Devices: +28.5%
    +5.2% Q1'26: +36.6% (vs Q1'25)
  • FCF margin FCF growth · Medical - Devices: +30.9%
    +8.2% Q1'26: +10.6% (vs Q1'25)
  • EBIT margin Medical - Devices: +6.2%
    +8.0% Q1'26: +11.2% (vs Q1'25)
  • ROIC Medical - Devices: +3.3%
    +8.7% Q1'26: +16.2% (vs Q1'25)
  • Share dilution Medical - Devices: 0.0%
    -2.1% Q1'26: -0.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Medical - Devices: -0.35×
    1.02× Q1'26: 0.66× (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 (0.35) × ERP
WACC = 91% × Ke + 9% × Kd (4.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 2,134.98 Current price: 1,542.50
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
8 Rev. Ana.
8 EPS Ana.
Mar 2027
4 Rev. Ana.
5 EPS Ana.
Mar 2028
8 Rev. Ana.
8 EPS Ana.
Mar 2029
4 Rev. Ana.
4 EPS Ana.
Mar 2030
3 Rev. Ana.
2 EPS Ana.
Mar 2031
2 Rev. Ana.
3 EPS Ana.
Revenue
160.80B
est: 160.30B (+0.3%)
165.52B
est: 166.00B (-0.3%)
166.29B
est: 166.61B (-0.2%)
174.25B
est: 174.21B (+0.0%)
178.80B
est: 179.50B (-0.4%)
185.01B
est: 185.44B (-0.2%)
199.73B
est: 193.70B (+3.1%)
205.13B
est: 204.99B (+0.1%)
206.60B
est: 207.48B (-0.4%)
221.99B
est: 219.49B (+1.1%)
225.42B
est: 226.74B (-0.6%)
233.44B
230.60B – 235.27B
+3.0% YoY
230.01B
224.03B – 234.01B
-1.5% YoY
233.15B
225.00B – 256.12B
+1.4% YoY
238.59B
231.31B – 252.44B
+2.3% YoY
248.12B
240.55B – 262.52B
+4.0% YoY
257.55B
249.70B – 272.50B
+3.8% YoY
EBITDA
19.53B
est: 23.89B (-18.3%)
20.06B
est: 24.74B (-18.9%)
17.15B
est: 24.83B (-30.9%)
18.01B
est: 25.97B (-30.7%)
18.74B
est: 26.75B (-30.0%)
19.25B
est: 27.64B (-30.4%)
31.64B
est: 28.87B (+9.6%)
34.48B
est: 30.55B (+12.9%)
24.91B
est: 30.92B (-19.4%)
23.45B
est: 26.75B (-12.4%)
24.90B
est: 27.64B (-9.9%)
28.45B
28.11B – 28.68B
+3.0% YoY
28.03B
27.31B – 28.52B
-1.5% YoY
28.42B
27.42B – 31.22B
+1.4% YoY
29.08B
28.19B – 30.77B
+2.3% YoY
30.24B
29.32B – 32.00B
+4.0% YoY
31.39B
30.43B – 33.21B
+3.8% YoY
EBIT
15.92B
est: 20.88B (-23.7%)
16.44B
est: 21.62B (-24.0%)
13.59B
est: 21.70B (-37.4%)
14.52B
est: 22.69B (-36.0%)
15.05B
est: 23.38B (-35.6%)
15.50B
est: 24.15B (-35.8%)
27.10B
est: 25.23B (+7.4%)
30.99B
est: 26.70B (+16.1%)
21.12B
est: 27.02B (-21.8%)
19.59B
est: 22.54B (-13.1%)
20.71B
est: 23.28B (-11.0%)
23.97B
23.68B – 24.16B
+3.0% YoY
23.62B
23.00B – 24.03B
-1.5% YoY
23.94B
23.10B – 26.30B
+1.4% YoY
24.50B
23.75B – 25.92B
+2.3% YoY
25.48B
24.70B – 26.95B
+4.0% YoY
26.44B
25.64B – 27.98B
+3.8% YoY
Net Income
11.14B
est: 11.71B (-4.9%)
10.52B
est: 10.05B (+4.7%)
9.15B
est: 9.62B (-4.9%)
9.15B
est: 9.87B (-7.2%)
11.19B
est: 10.64B (+5.2%)
9.85B
est: 10.16B (-3.0%)
18.24B
est: 13.22B (+38.0%)
23.44B
est: 20.79B (+12.7%)
17.11B
est: 14.64B (+16.9%)
17.03B
est: 14.01B (+21.6%)
14.10B
est: 13.47B (+4.7%)
12.68B
11.97B – 13.92B
-5.8% YoY
15.86B
15.35B – 16.37B
+25.0% YoY
16.52B
14.92B – 18.12B
+4.2% YoY
17.07B
16.06B – 19.14B
+3.3% YoY
18.89B
18.15B – 20.32B
+10.7% YoY
18.21B
17.49B – 19.59B
-3.6% YoY
SGA
53.58B
est: 57.60B (-7.0%)
56.03B
est: 59.65B (-6.1%)
56.84B
est: 59.86B (-5.1%)
58.59B
est: 62.60B (-6.4%)
61.37B
est: 64.50B (-4.8%)
64.72B
est: 66.63B (-2.9%)
66.60B
est: 69.60B (-4.3%)
70.02B
est: 73.65B (-4.9%)
75.94B
est: 74.55B (+1.9%)
81.98B
est: 81.36B (+0.8%)
86.76B
est: 84.05B (+3.2%)
86.53B
85.48B – 87.21B
+3.0% YoY
85.26B
83.04B – 86.74B
-1.5% YoY
86.43B
83.40B – 94.94B
+1.4% YoY
88.44B
85.74B – 93.58B
+2.3% YoY
91.97B
89.17B – 97.31B
+4.0% YoY
95.47B
92.56B – 101.01B
+3.8% YoY
EPS
63.41
est: 70.51 (-10.1%)
60.06
est: 60.48 (-0.7%)
53.41
est: 57.89 (-7.7%)
53.46
est: 59.39 (-10.0%)
65.71
est: 64.04 (+2.6%)
57.86
est: 61.14 (-5.4%)
107.10
est: 79.60 (+34.5%)
138.25
est: 125.15 (+10.5%)
101.64
est: 88.00 (+15.5%)
101.22
est: 83.32 (+21.5%)
84.87
est: 84.11 (+0.9%)
77.82
73.60 – 85.60
-7.5% YoY
96.67
94.40 – 100.68
+24.2% YoY
101.98
91.73 – 111.44
+5.5% YoY
108.00
98.77 – 117.68
+5.9% YoY
116.20
111.59 – 124.97
+7.6% YoY
112.00
107.56 – 120.45
-3.6% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-15 A- 4/5 4/5 4/5 5/5 2/5 2/5 4/5
2026-05-14 A- 4/5 4/5 4/5 4/5 2/5 2/5 4/5
2026-05-13 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-12 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-11 B+ 3/5 4/5 3/5 4/5 2/5 2/5 4/5
2026-05-08 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-07 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-05-01 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-30 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-28 A- 4/5 4/5 3/5 4/5 2/5 3/5 4/5
2026-04-27 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-24 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-23 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-22 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-21 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-20 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-17 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-16 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5
2026-04-15 A- 4/5 4/5 3/5 5/5 2/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
16.45B
OE per share TTM
101.08
Owner's Yield
6.86%
Maintenance CapEx ratio
6.94%
Maint CapEx / Avg PPE
11.6%

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.

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
3.19M
Shares Outstanding
159.97M

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
Eiichi Tanaka Executive Operating Officer, Chief Operating Officer & Corporate Director male
Eri Watanabe Operating Officer, Deputy GM of Global Corporation Administration Operations & GM of Finance Department
Hirohiko Ikeya Operating Officer, Chief Technology Officer & GM of Technology Development Operations
Hirokazu Ogino Chairman, President & Chief Executive Officer male
Kaoru Imajo Operating Officer, CIO, GM of Neurology Bus. Divi. & CEO of Ad-Tech Medical Instrument Co.
Kazuhiro Kato Sr. Op. Off., CAO & GM of Corp. Adm. Ope. and Chief Com. Off. & Corporate Director male
Kazuomi Shimoda Operating Officer, Chief Business Development Officer (CBDO) & GM of Import Business Operations
Keichiro Yoshizawa Executive Officer & Head of North American Business Headquarters
Kenji Furukawa Senior Op. Officer, Chief Human Capital Officer, GM of HR Development Operations & GM of HR Dept
Naoto Nishii Executive Officer & Head of Business Strategy Headquarters
Seiji Miyazaki Executive Officer & Head of Overseas Business Headquarters
Toshihiko Hiraoka Op. Officer, Chief Regional Officer - Japan
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