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NOF (4403) Stock Price & Analysis
4403 Stock Chart & Stats
- Day’s Range
- JPY 2,784.00 - JPY 2,824.50
- 52-Week Range
- JPY 2,484.00 - JPY 3,400.00
- Previous Close
- JPY 2,764.50
- Volume
- 630.00K
- Average Volume (3M)
- 915.62K
- Market Cap
- JPY 632.84B
- Enterprise Value
- JPY 536.56B
- Total Cash (Recent Filing)
- JPY 64.85B
- Total Debt (Recent Filing)
- JPY 4.31B
- Price to Earnings (P/E)
- 16.2
- Beta
- 0.67
- Next Earnings
- Nov 05, 2026 (Est.)
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- Mar 30, 2027
- Dividend Yield
- 2.50%
Bulls Say, Bears Say
Bulls Say
Steady Revenue Growth
Consistent revenue expansion indicates durable demand across NOF’s industrial chemical and functional-material businesses. The 2026 acceleration could strengthen operating scale and customer penetration, although the sustainability of that step-up remains important to monitor.
Durable Profitability
Sustained gross and net margins suggest NOF retains meaningful value-added content and pricing or mix support in its specialty chemical portfolio. This provides resilience against normal input-cost fluctuations and supports ongoing internal funding.
Very Low Financial Leverage
An exceptionally conservative balance sheet limits interest and refinancing risk while preserving flexibility for capital investment, research, or customer-driven capacity needs. The rising equity base further strengthens NOF’s ability to withstand industry volatility.
Bears Say
Uneven Cash Conversion
Weak conversion of accounting earnings into operating cash can constrain internally funded investment and dividends, even when reported profits remain healthy. Persistent working-capital swings or reinvestment needs would make financial performance less predictable.
Limited Operating Margin Expansion
Revenue growth has not translated into sustained operating leverage, implying that volume and product mix are doing more work than structural efficiency gains. Without margin expansion, future earnings growth may remain more dependent on continued sales growth.
Moderately Lower Capital Returns
A gradual decline in ROE suggests incremental equity is producing somewhat lower returns than at the peak. While profitability remains healthy, this could indicate that growth, retained capital, or investment is not yet generating proportionate shareholder returns.
4403 FAQ
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Company Description
NOF
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.
- Sector
- Basicmaterials
- Industry
- Chemicals - Specialty
- CEO
- Koji Sawamura
- Employees
- 4,155
- Website
- www.nof.co.jp
- Address
- Yebisu Garden Place Tower, Tokyo, TY, 150-6012, JP
NOF (4403) Earnings & Revenues
4403 Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 12 | 6 | 4 |
| Technical Analysis | 3 | 6 | 1 |
| Moving Averages | 9 | 0 | 3 |







