Nihon Kohden Corporation logo

Nihon Kohden Corporation

6849.T

JPXHealthcareMedical - Devices

Latest quote

¥1,517

+¥11.00 · +0.73%

Aug 24, 3:30 PM JST

6849.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

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.

Industry
Medical - Devices
Sector
Healthcare
Headquarters
JP
CEO
Hirokazu Ogino
Listed since
Jan 1, 2001
Employees
6,116

Market position

Day range

Current ¥1,517

52-week range

Current ¥1,517

Open
¥1,509.5
Previous close
¥1,506
Volume
555K
0.82× average
Average volume
676.01K
Average daily volume
Market cap
242.68B JPY
Beta
0.37
Market reference 1
50-day average
¥1,487.6
+1.98% above average
200-day average
¥1,561.64
-2.86% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
226.1B JPY
P/E (TTM)
18.13×
P/B (TTM)
1.37×
P/S (TTM)
1.04×
EV / EBITDA
8.66×
Earnings yield
6.13%
Free cash flow yield
6.48%
Dividend yield
2.11%

Profitability & efficiency

Gross margin
51.29%
Operating margin
6.34%
Net margin
5.86%
Return on equity
8.08%
Return on assets
5.66%
Return on invested capital
6.54%

Financial health

Debt / equity
0.14×
Current ratio
3.6×
Altman Z-score
4.86
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends57%38%20%2%Gross margin, FY2022: 52.03%Gross margin, FY2023: 49.98%Gross margin, FY2024: 48.91%Gross margin, FY2025: 50.70%Gross margin, FY2026: 50.19%Operating margin, FY2022: 15.11%Operating margin, FY2023: 10.22%Operating margin, FY2024: 8.83%Operating margin, FY2025: 9.19%Operating margin, FY2026: 7.99%Net margin, FY2022: 11.42%Net margin, FY2023: 8.28%Net margin, FY2024: 7.67%Net margin, FY2025: 6.25%Net margin, FY2026: 6.17%FY2022FY2023FY2024FY2025FY2026
Gross margin FY2022 52.03%. Gross margin FY2023 49.98%. Gross margin FY2024 48.91%. Gross margin FY2025 50.70%. Gross margin FY2026 50.19%. Operating margin FY2022 15.11%. Operating margin FY2023 10.22%. Operating margin FY2024 8.83%. Operating margin FY2025 9.19%. Operating margin FY2026 7.99%. Net margin FY2022 11.42%. Net margin FY2023 8.28%. Net margin FY2024 7.67%. Net margin FY2025 6.25%. Net margin FY2026 6.17%.

Income trends

Revenue

235.1B JPY+4.29%

Operating income

18.78B JPY-9.32%

Net income

14.51B JPY+2.95%
Income trends across reported periods257.2B JPY168.8B JPY80.4B JPY−8B JPYRevenue, FY2022: 205.13B JPYRevenue, FY2023: 206.6B JPYRevenue, FY2024: 221.99B JPYRevenue, FY2025: 225.42B JPYRevenue, FY2026: 235.1B JPYOperating income, FY2022: 30.99B JPYOperating income, FY2023: 21.12B JPYOperating income, FY2024: 19.59B JPYOperating income, FY2025: 20.71B JPYOperating income, FY2026: 18.78B JPYNet income, FY2022: 23.44B JPYNet income, FY2023: 17.11B JPYNet income, FY2024: 17.03B JPYNet income, FY2025: 14.1B JPYNet income, FY2026: 14.51B JPYFY2022FY2023FY2024FY2025FY2026
Revenue FY2022 205.13B JPY. Revenue FY2023 206.6B JPY. Revenue FY2024 221.99B JPY. Revenue FY2025 225.42B JPY. Revenue FY2026 235.1B JPY. Operating income FY2022 30.99B JPY. Operating income FY2023 21.12B JPY. Operating income FY2024 19.59B JPY. Operating income FY2025 20.71B JPY. Operating income FY2026 18.78B JPY. Net income FY2022 23.44B JPY. Net income FY2023 17.11B JPY. Net income FY2024 17.03B JPY. Net income FY2025 14.1B JPY. Net income FY2026 14.51B JPY.
Metric (JPY)FY2026FY2025FY2024FY2023FY2022
Revenue235.1B JPY225.42B JPY221.99B JPY206.6B JPY205.13B JPY
Cost of goods sold117.1B JPY111.13B JPY113.42B JPY103.34B JPY98.4B JPY
Gross profit118B JPY114.3B JPY108.57B JPY103.27B JPY106.73B JPY
Research and development7.45B JPY6.83B JPY7B JPY6.2B JPY5.71B JPY
Selling, general, and administrative91.76B JPY86.76B JPY81.98B JPY75.94B JPY70.02B JPY
Operating expenses99.21B JPY93.58B JPY88.98B JPY82.14B JPY75.74B JPY
Interest income304M JPY428M JPY289M JPY194M JPY132M JPY
Interest expense341M JPY144M JPY24M JPY10M JPY11M JPY
Depreciation and amortization5.82B JPY4.19B JPY3.85B JPY3.79B JPY3.49B JPY
Operating income18.78B JPY20.71B JPY19.59B JPY21.12B JPY30.99B JPY
Net income14.51B JPY14.1B JPY17.03B JPY17.11B JPY23.44B JPY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 6 misses, 0 met estimates
Average EPS surprise
-41.33%
11 comparable reports
Latest EPS result
-4.6
Estimate 1.88 · Miss by 344.71%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates54.333.2112.13-8.96Q1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 5, 2025: actual 46.01, estimate 23.93, surprise +92.27%, Beat. Q2 2025, reported May 13, 2025: actual 36.11, estimate 44.08, surprise -18.08%, Miss. Q3 2025, reported Aug 6, 2025: actual 0.84, estimate 2.45, surprise -65.71%, Miss. Q4 2025, reported Nov 10, 2025: actual 26.9, estimate 23.3, surprise +15.45%, Beat. Q1 2026, reported Feb 5, 2026: actual 11.57, estimate 12.99, surprise -10.93%, Miss. Q2 2026, reported May 14, 2026: actual 49.94, estimate 33.97, surprise +47.01%, Beat. Q3 2026, reported Aug 6, 2026: actual -4.6, estimate 1.88, surprise -344.71%, Miss. Q4 2026, reported Nov 11, 2026: actual —, estimate 20, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates73.93B64.14B54.35B44.56BQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 5, 2025: actual 55.69B JPY, estimate 54.54B JPY, surprise +2.11%, Beat. Q2 2025, reported May 13, 2025: actual 66.95B JPY, estimate 68.17B JPY, surprise -1.79%, Miss. Q3 2025, reported Aug 6, 2025: actual 50.02B JPY, estimate 49.71B JPY, surprise +0.61%, Beat. Q4 2025, reported Nov 10, 2025: actual 58.1B JPY, estimate 59.28B JPY, surprise -1.98%, Miss. Q1 2026, reported Feb 5, 2026: actual 55.89B JPY, estimate 57.91B JPY, surprise -3.48%, Miss. Q2 2026, reported May 14, 2026: actual 71.09B JPY, estimate 69.85B JPY, surprise +1.77%, Beat. Q3 2026, reported Aug 6, 2026: actual 47.41B JPY, estimate 47.91B JPY, surprise -1.05%, Miss. Q4 2026, reported Nov 11, 2026: actual —, estimate 56.45B JPY, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥32.00

2025 complete year+12.3% since 2021

2026 partial: ¥16.00

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 29, 2026

¥16.00

Semi-Annual

Record Sep 30, 2026 · Payment Sep 29, 2026

DividendUpcoming

Ex-dividend Mar 30, 2027

¥17.00

Semi-Annual

Record Mar 31, 2027 · Payment Mar 30, 2027

Dividend

Ex-dividend Mar 30, 2026

¥16.00

Semi-Annual

Record Mar 31, 2026 · Payment Jun 26, 2026

Dividend

Ex-dividend Sep 29, 2025

¥16.00

Semi-Annual

Record Sep 30, 2025 · Payment Dec 1, 2025

Dividend

Ex-dividend Mar 28, 2025

¥16.00

Semi-Annual

Record Mar 31, 2025 · Payment Jun 27, 2025

Dividend

Ex-dividend Sep 27, 2024

¥15.00

Semi-Annual

Record Sep 30, 2024 · Payment Nov 27, 2024

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