Nissha Co., Ltd.

TICKER 7915.T

ISIN JP3713200008

Market cap. JPY

60,933,805,218

Shs outstanding 47,345,614

Nissha Co., Ltd. engages in industrial materials, devices, medical technologies, and information and communication in Japan and internationally. The company provides in-mold decoration technology, in-mold electronics, transfer foil, printed electronics, molding, CMF design sample book; metallized paper for packaging and labels, wrapping, direct food contact, and innerliners; and material consulting; provide sensing technologies for various markets, such as smartphones and automotive. It also offers force and gas sensors; and finished products. In addition, it design medical device; manufacturing services; healthcare product solutions; custom labeled medical products; and support communication activities. The company was formerly known as Nissha Printing Co., Ltd. and changed its name to Nissha Co., Ltd. in October 2017. Nissha Co., Ltd. was founded in 1929 and is headquartered in Kyoto, Japan.

Strategy: Japan Tech Titans

Return at exit: 6.6%

Performance weakness amid valuation concerns

• Rotated out due to lagging market performance and inconsistent valuation metrics relative to peers. • Stock has experienced significant underperformance, with a -20.3% return over the past year and recent quarterly revenue decline of -1.1%. • EBITDA declined by ~10.8% over the last twelve months, indicating operational challenges. • Earnings quality concerns reflected in negative EPS (-1.18 JPY) and unusually high negative P/E ratio. • JPMorgan recently reduced their price target to ¥1,100 from ¥1,500, though maintained a neutral rating. • Some positive factors remain: attractive 4% dividend yield, price-to-book ratio of 0.53, and reasonable gross profit margin of ~22%. • This change reflects portfolio rotation toward stronger alternatives, not a sell signal.