Nitori Holdings Co (9843) AI Stock Analysis

Nitori Holdings Co

(TSE/TYO:9843)

Select Model

Rating:73Outperform

Price Target:JPY 3,794.00▲(11.49% Upside)

Action:upgraded

Date:08/17/26

The score is driven primarily by solid but cooling fundamentals (slower revenue momentum and uneven free cash flow despite healthy margins and generally manageable leverage), supported by strong technical uptrend signals. Valuation is moderate with a mid-range P/E and a modest dividend yield.

Positive Factors

Vertically Integrated Business ModelNitori controls multiple stages from product design through logistics and direct retailing. This integrated model can support private-label differentiation, coordinated inventory management, and margin capture across the value chain, providing a durable operating advantage over less integrated retailers.

Negative Factors

Revenue DecelerationThe shift from strong historical growth to a slight revenue decline signals weakening top-line momentum. If this persists, slower sales expansion could limit operating leverage, reduce the capacity to absorb costs, and make future profit growth increasingly dependent on efficiency or pricing.

Nitori Holdings Co (9843) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 11.41B
Dividend Yield: 0.92%
Average Volume (3M): 3.52M
Price to Earnings (P/E): 21.6
Beta (1Y): -0.01
Revenue Growth: ―
EPS Growth: ―
Country: Japan
Employees: 19,432
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Specialty Retail

Nitori Holdings Co Business Overview & Revenue Model

Company Description

Nitori Holdings Co., Ltd. operates a retail business specializing in furniture and home furnishings across multiple international markets, including Japan, China, Taiwan, and the United States, facilitated through its subsidiaries. Beyond its primary...

How the Company Makes Money

Nitori Holdings makes money primarily by selling home-furnishing and household products to consumers under its retail brands (notably Nitori), earning revenue at the point of sale through its physical store network and online channels. A central driv...

Nitori Holdings Co Financial Statement Overview

Summary

Profitability remains solid for Specialty Retail (gross margin ~48%–55% and net margin mostly ~9%–13%), but revenue growth has slowed materially and turned slightly negative in 2026. Balance sheet leverage is generally manageable though it spiked in 2025, and free cash flow has been volatile despite consistently positive operating cash flow—together keeping the financial score in the low 70s.

Income Statement

78Positive

Balance Sheet

72Positive

Cash Flow

63Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Feb 2023	Feb 2022
Income Statement
Total Revenue	906.81B	912.25B	928.83B	896.67B	875.17B	811.58B
Gross Profit	482.94B	485.41B	473.92B	457.40B	420.77B	405.49B
EBITDA	198.72B	201.01B	186.83B	188.41B	155.33B	168.51B
Net Income	88.87B	89.27B	82.55B	90.16B	87.81B	96.72B
Balance Sheet
Total Assets	1.56T	1.57T	1.53T	1.41T	1.13T	983.84B
Cash, Cash Equivalents and Short-Term Investments	153.52B	145.01B	136.00B	137.94B	131.93B	130.44B
Total Debt	150.00B	160.00B	437.05B	365.11B	146.60B	92.73B
Total Liabilities	547.85B	582.71B	623.68B	570.58B	315.67B	251.02B
Stockholders Equity	1.01T	988.56B	905.73B	840.70B	818.10B	732.81B
Cash Flow
Free Cash Flow	0	107.50B	22.95B	57.11B	-22.54B	-15.96B
Operating Cash Flow	0	148.91B	144.38B	181.16B	91.40B	85.56B
Investing Cash Flow	0	-55.10B	-127.86B	-133.11B	-132.54B	-119.98B
Financing Cash Flow	0	-86.50B	1.29B	-55.38B	36.90B	17.73B

Nitori Holdings Co Technical Analysis

Technical Analysis SentimentPositive

Last Price3403.00

Price Trends

50DMA3147.82Positive

100DMA2844.29Positive

200DMA2736.82Positive

Market Momentum

MACD77.77Negative

RSI64.87Neutral

STOCH42.61Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9843, the sentiment is Positive. The current price of 3403.00 is above the 20-day moving average (MA) of 3252.70, above the 50-day MA of 3147.82, and above the 200-day MA of 2736.82, indicating a bullish trend. The MACD of 77.77 indicates Negative momentum. The RSI at 64.87 is Neutral, neither overbought nor oversold. The STOCH value of 42.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9843.

Nitori Holdings Co Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

JP:9843 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9843	73Outperform	JPY 1.92T	21.64	9.09%	0.92%	―	―
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JP:9997	61Neutral	JPY 96.69B	8.20	7.79%	4.25%	4.81%	22.61%
JP:9842	60Neutral	JPY 118.85B	14.39	―	2.10%	7.68%	-13.95%
JP:4385	58Neutral	JPY 590.90B	16.64	29.94%	―	19.03%	35.00%
JP:9831	58Neutral	JPY 613.09B	30.37	2.50%	2.32%	6.56%	-37.24%
JP:4755	49Neutral	JPY 1.37T	-21.17	-7.11%	―	10.86%	69.63%

* Consumer Cyclical Sector Average

Performance Comparison

JP:9843 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9843	Nitori Holdings Co	3403.00	931.00	37.66%
JP:4755	Rakuten	628.50	-381.00	-37.74%
JP:4385	Mercari	3573.00	1291.50	56.61%
JP:9831	Yamada Denki Co	733.20	284.20	63.30%
JP:9997	Belluna Co., Ltd.	1000.00	26.53	2.73%
JP:9842	ARCLANDS CORPORATION	1907.00	190.45	11.09%

Nitori Holdings Co Corporate Events

Nitori Holdings Sees Modest Profit Dip but Projects Full-Year Growth and Steady Dividends

Aug 7, 2026

Nitori Holdings reported a slight decline in first-quarter revenue and profit, with revenue down 2.3 percent to ¥226.3 billion and profit attributable to owners of the parent slipping 1.5 percent to ¥25.8 billion. Despite softer top-line pe...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 17, 2026

Nitori Holdings Co AI Stock Analysis