ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥7129 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
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
78
out of 100
P/E
13.5x
forward 13.9x
1-year return
+38.2%
Dividend yield
3.30%
Nippon Yusen Kabushiki Kaisha in four questions
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Overview
ACCE thesis
Nippon Yusen (NYK) runs one of the world's largest container and car-carrier fleets, alongside LNG carriers, dry bulk, and logistics operations, and its earnings are tied to global trade volumes and charter rates. The structural case rests on its scale and its LNG and specialised-vessel book, where long-term charters give more visibility than spot container exposure. Revenue grew 21.1% over the last reported year, while the operating margin of 7.9% and ROE of 7.7% show how much of that top-line gain is still being absorbed by a capital-heavy, cyclical business. At 13.6 times trailing earnings and 14.2 times forward, the stock is priced close to where earnings are expected to hold, so the debate is whether the current revenue run-rate can be turned into durable margin rather than a freight-rate peak. That is the question worth a deeper look: how much of the margin base is contracted versus spot, and what the fleet renewal programme does to returns over the next cycle.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Price above ACCE target
Shares trade 16.1% above the ACCE price target of ¥6142.00 (last updated 2026-10-22), against a current price of ¥7129.00. The stock has run past our own estimate.
moderate
Five-year revenue shrinkage
Revenue has compounded at -26.0% a year over five years, even though last year grew 21.1%. The recent rebound sits on a much smaller base.
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
Latest earnings per share beat expectations by 40.4%, coming in at 166.10 against 118.34 expected.
Revenue grew 21.1% year over year in the latest filings, a strong rebound in the top line.
The dividend yield of 3.3% gives income-focused holders a meaningful cash return while they wait.
Why it could disappoint
The five-year average revenue growth is -26.0% per year, so the recent 21.1% rise follows a long shrinking trend.
Analysts' mean price target of JPY 6691.82 sits 7.9% below the current share price of ¥7129.00.
Return on equity of 7.7% is modest, and shipping earnings follow volatile freight rates that can reverse quickly.
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