Nippon Kayaku Co., Ltd. (NPKYF)
SobrevaloradaFundamental
66
Precio
$2103.00
Capitalización Bursátil
$307.91B
Parte 1 · Cuánto vale la empresa
Resumen
Nippon Kayaku was founded in 1916 as Japan's first industrial explosives maker and has since turned its chemistry expertise into three unrelated businesses: specialty chemicals such as epoxy resins and dyes, pharmaceuticals including anti-cancer and cardiovascular drugs, and automotive safety components — airbag inflators and micro gas generators sold to seatbelt and airbag makers worldwide. It no longer sells explosives as a core line; that heritage lives on mainly in its name.
Cómo genera ingresos
Each business earns money in a different way. Fine chemicals sell to electronics, textile and agrochemical manufacturers as industrial inputs priced on volume and specification. Life sciences revenue comes from drug sales, largely covered by national health insurance systems, with pricing set through negotiation and regulatory approval cycles rather than open competition. Mobility and imaging revenue comes from supplying safety components under long-term contracts with automakers and their tier-one suppliers.
Ingresos por segmento
Airbag inflators and micro gas generators for automotive safety systems, plus imaging-related chemical products — the largest business domain.
Epoxy resins, UV-curable resins, dyes and electronic materials sold to industrial manufacturers.
Prescription pharmaceuticals, including anti-cancer, cardiovascular and anti-inflammatory drugs.
Ventaja competitiva
Costes de cambio · EstrechaAutomakers qualify safety components like airbag inflators through lengthy testing before they go into a vehicle program, so once Nippon Kayaku is designed into a platform it tends to stay there for the life of that model. The same is not true across its other two businesses, where chemicals and drugs face more open competition, which is why the advantage is narrow rather than covering the whole company.
Qué impulsa la demanda
Moderadamente cíclicoThe three businesses pull in different directions: pharmaceutical demand is largely defensive, since patients keep needing medication regardless of the economy, while fine chemicals and automotive safety components track industrial and vehicle production, which slow in downturns. The blend leaves the group somewhere between the two extremes rather than firmly cyclical or firmly defensive.
Los argumentos a favor
Buyers argue that spreading revenue across defensive pharmaceuticals, industrial chemicals and automotive safety components gives Nippon Kayaku more balance than a single-industry supplier, and that its long history as a qualified airbag-inflator supplier makes that business hard for a new entrant to displace.
Los argumentos en contra
Sellers fear that running three unrelated businesses under one roof dilutes management focus and makes it harder for investors to value the company against single-industry peers, and that two of the three segments remain exposed to the same automotive and industrial production cycle at the same time.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
Generated on 19 de septiembre de 2026 with claude-haiku-4-5 — shared with all users
Another Japanese chemical group that, like Nippon Kayaku, turns pyrotechnic know-how into airbag inflators and micro gas generators sold to the same global car makers and safety-system integrators.
The largest maker of automotive passive safety systems, it produces its own inflators and seatbelt pretensioner gas generators and bids for the same carmaker programmes as Nippon Kayaku's Safety Systems segment.
A major supplier of airbag modules and inflators (the former Takata business, now under Ningbo Joyson) competing for the same airbag and seatbelt contracts with car makers in Asia, Europe and North America.
Competes head-on in epoxy materials for semiconductor encapsulation, selling molding compounds and resins to the same chip packaging and assembly customers.
Supplies epoxy encapsulation materials for semiconductor packages and power modules, addressing the same electronic-materials customers as Nippon Kayaku's functional chemicals business.
Balance y Liquidez
Ingresos
$247.90B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Beneficio Neto
$25.30B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Flujo de Caja Libre
-
Patrimonio Neto Total
$276.68B
Pasivo Total
$68.18B
Ratio de Liquidez
2.71
Cobertura de Intereses
-
Deuda/EBITDA
1.66
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$1558.08
Precio Actual
$2103.00
Margen de Seguridad
-35.0%
Rango de Valor Justo
$1293.68 - $1822.48
Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.
Métodos de Estimación
Métricas de Valoración
Ratio P/E
11.98
ROE
8.9%
Ratio P/B
1.10
P/FCF
-
Margen Bruto
30.3%
ROIC
5.8%
Radar de Rentabilidad
Creación de Valor (Ventaja Competitiva)
ROIC
5.8%
WACC
7.6%
ROIC − WACC
-1.8 pp
El ROIC está por debajo del coste del capital: la empresa destruye valor por cada dólar invertido.
Criterios de Análisis Fundamental
Superado (14)
- ROIC 5.8%
- Gross Margin 30.3%
- P/B Ratio 1.10
- Debt/Equity ratio
- Operating Margin 9.5%
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- ROE 9.6%
- Revenue Growth 5Y 6.9%
- Analyst Consensus 80% Buy
- Earnings Surprise avg 37.3%
- PEG Ratio 0.68
- Net Margin Trend 17.0% vs 5.1%
Fallido (3)
- Price CAGR 3.66%
- DCF valuation (Unknown)
- Piotroski F-Score 0/9
No disponible (10)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupaciones financieras graves
Calidad de los Beneficios
Baja calidad: investigue la contabilidad
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Participaciones institucionales
No hay declaraciones institucionales para esta empresa.
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Shigeyuki Kawamura | President, CEO & Representative Director | 62 |
| Mr. Tsutomu Kawamura | General Manager of Finance & Accounting Division | - |
| Yasuhito Kato | MD of Technology & Director | 60 |
| Ichio Kohinata | General Manager of Legal Affairs Division | - |
| Shinji Inoue | Senior Executive Officer of planning, Corp. Communication & Accounting and Director | 59 |
| Makoto Takeda | MD of Human Resource & Director | 61 |
| Hiroshi Shimada | Senior MD, Head of Pharmaceuticals Group & Director | 60 |
| Hideyuki Yuya | MD & Head of Polatechno Group | - |
| Shigehide Kagaya | Head of Catalysts Group, Fine Chemicals Business Unit | - |
| Yoshiki Akatani | Managing Director of Fine Chemicals Business Area | - |
Riesgo de Auditoría
1
Riesgo del Consejo
9
Riesgo de Compensación
1
Riesgo de Derechos del Accionista
1
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for NPKYF, sourced from Markets Gazette.