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6988.T
ACCE-researched

Nitto Denko Corporation (6988.T) fair value

Basic Materials · Specialty Chemicals · TSE · Japan
¥3568.00-3.80%
Market cap ¥2.36TNext earnings 2026-10-27Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionNitto Denko Corporation (6988.T)
Fair value
Not available
ACCE price target
¥3633
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥3568 at the close on 23 Oct 2026, 08:30 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
66
out of 100
P/E
18.3x
forward 18.6x
1-year return
-7.2%
Dividend yield
1.73%

Nitto Denko Corporation in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Nitto Denko makes precision adhesive tapes, optical films for LCD and OLED panels, and water-treatment membranes, a mix that sells into electronics, automotive and industrial customers. Its moat rests on being a qualified supplier in niches where switching is slow and expensive: a film or tape that is specified into a display or a car platform tends to stay there for the life of that product. Revenue grew 10.4% and the business earns an 18.1% operating margin on a 38.0% gross margin, which is high for a materials maker and suggests real pricing power in the specialty lines. The stock trades at 18.2x trailing and 19.4x forward earnings, a forward multiple that is above trailing, so the market is not pricing in an earnings decline. ROE of 12.5% is respectable rather than exceptional, so the question for a PM is whether the margin profile holds through the display and auto cycles that drive the bulk of demand.

AI-assisted·How I use AIWritten Oct 23, 2026

AI research notes

AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 10.4% over the last year and has averaged 23.6% a year over five years, showing strong top-line momentum.
  • Free cash flow of JPY 33.5B over the last twelve months gives the business real cash to fund dividends and investment.
  • Earnings beat expectations, with EPS of 50.75 against 48.33 expected, a 5.0% surprise.
Why it could disappoint
  • Analysts' mean price target of JPY 3770.00 is only 1.6% above the share price, so the expected upside is slim.
  • A forward P/E of 19.4x and a trailing P/E of 18.3x mean investors are already paying a full price for the earnings.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

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Valuation

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Price
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In one line

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Last 90 days
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Last 180 days
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Where it sits vs peers

News and Record

Recent performance

1 week
-2.1%
1 month
+5.5%
3 months
+7.4%
6 months
+10.7%
YTD
-4.0%
1 year
-7.2%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
22 Oct 2026, 16:00 CESTACCE price target¥3633first publication¥3709

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in JPY. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth60Value65Quality69Momentum69Total66
Valuation
Trailing P/E
18.3x
Forward P/E
18.6x
PEG
1.59
P/B
no data
EV / Revenue
no data
Book value/sh
no data
Enterprise value
no data
Profitability
ROE
12.5%
FCF yield
1.37%
ROIC
no data
Health and risk
Debt / equity
no data
Dividend yield
1.73%
Beta
no data

Price

-8.5% · 1Y

Ask anything about 6988.T

Answered from Nitto Denko Corporation fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 50% of peers
low 0.0x18.3xhigh 83.5x
ROEbetter than 50% of peers
low -2%13%high 22%
Div yieldbetter than 67% of peers
low 0.0%1.7%high 6.5%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
6988.T Nitto Denko Corporation¥3568.00--18.3x12.5%6966
PIDILITIND.NS Pidilite Industries Limited₹1481.20--57.3x-8555
SQM-A.SN Sociedad Química y Minera de Chile S.ACLP 54000.00--12.1x21.8%8275
SQM-B.SN Sociedad Química y Minera de Chile S.A.CLP 55720.00--12.4x21.8%8272
SOLARINDS.NS Solar Industries India Limited₹19010.00--83.5x-9174
4612.T Nippon Paint Holdings Co., Ltd.¥1249.00--20.3x11.2%6371
LYB LyondellBasell Industries NV Ordinary Shares Class A (Netherlands)$65.37----2.3%3063

Sector report card

Where 6988.T ranks against its sector peers on each metric.

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