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IT systems integrator for Nippon Steel and other manufacturing, retail and public-sector clients in Japan.
IT systems integrator for Nippon Steel and other manufacturing, retail and public-sector clients in Japan.
Builds and runs IT systems for clients under project contracts and longer operations contracts, so revenue combines one-off development work with steadier outsourcing fees. It grew out of the steelmaker's own factory-control and information-systems departments, and Nippon Steel group companies remain a core customer base. Profit depends on how fully its engineers are used.
In one line: A steel-group-affiliated Japanese IT services firm, like a niche Accenture.
Moat: narrow (customer qualification, installed base). Anchor relationship with parent Nippon Steel gives a captive base, but broader IT services market is competitive.
Headquarters: Tokyo, Japan · Founded: 1975 · Employees: 10,276
Size NS Solutions (2327.T) is a Japan Information Technology company (Information Technology Services) with a market value of $4.43B, the 266th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,819 on 6 Nov 2026.
Performance Over six months the shares gained 5.9%, against +13.3% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 11.6% over the last twelve months (peer median +7.9%); the operating margin is 12.1% (peer median 9.1%).
Valuation It trades at 21.3× forward earnings against a peer median of 15.3× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥402B | ¥381B | ¥338B | ¥311B | ¥292B |
| Revenue growth | — | +13% | +9% | +6% | — |
| Gross profit | ¥110B | ¥99.4B | ¥81.3B | ¥71.6B | ¥65.8B |
| EBITDA | ¥63.3B | ¥57.6B | ¥52.8B | ¥47.3B | ¥45.7B |
| Net income | ¥33.7B | ¥30.8B | ¥27.1B | ¥24.2B | ¥22.0B |
| Free cash flow | ¥32.1B | -¥8.77B | ¥33.7B | ¥23.0B | ¥21.6B |
| Capital expenditure | ¥8.06B | ¥5.37B | ¥3.51B | ¥3.12B | ¥4.40B |
| Total debt | ¥30.2B | ¥25.1B | ¥29.3B | ¥34.8B | ¥25.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| NS Solutions 2327.T | $4.43B | +6% | +12% | 12% | 21.3× | -5.1% |
| Nomura Research Institute 4307.T | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% |
| BIPROGY 8056.T | $2.47B | -3% | +4% | 10% | 13.1× | -9.5% |
| Fujitsu 6702.T | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% |
| Nec 6701.T | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2327.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.2% | -2.3% | 9th highest of 21 |
| 6-month return | +5.9% | +13.3% | 10th lowest of 21 |
| Distance from 52-week high | -18.0% | -26.3% | 6th highest of 21 |
| Revenue growth (TTM) | +11.6% | +7.9% | 7th highest of 21 |
| Operating margin | 12.1% | 9.1% | 8th highest of 21 |
| Forward P/E | 21.3× | 15.3× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -5.1% | 4.2% | 5th least demanding of 19 |
| Growth delivered (Del g) | +8.6% | +8.0% | 10th highest of 19 |
| Hurdle (Req g minus delivered) | -13.7 pp | -1.7 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | +11.2 pp | +4.2 pp | 4th highest of 20 |
| EV / EBITDA | 9.7× | 10.0× | 7th cheapest of 15 |
| Net debt / EBITDA | -1.5× | 0.2× | 2nd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NS Solutions 2327.T | Japan | $4.43B | +6% | +12% | 12% | 21.3× | -5.1% | +8.6% |
| Amdocs DOX | United States | $4.53B | -34% | +4% | 17% | 7.7× | -15.8% | +1.8% |
| Softcat SCT.L | United Kingdom | $4.53B | +14% | +35% | 11% | 17.9× | -4.1% | +20.3% |
| Q2 Holdings, Inc. QTWO | United States | $4.57B | +47% | +13% | 13% | 22.5× | 26.6% | +14.6% |
| Sopra Steria SOP.PA | France | $4.29B | +50% | +2% | 9% | 11.2× | -0.6% | +5.8% |
| Insight Enterprises NSIT | United States | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% | -0.2% |
| KBR KBR | United States | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% | +6.2% |
| Bechtle BC8.DE | Germany | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% | +4.9% |
| Workiva WK | United States | $3.96B | +42% | +20% | 3% | 23.0× | 33.1% | +20.3% |
| Sterlite Technologies STLTECH.NS | India | $3.91B | +101% | +63% | 17% | 28.2× | 22.6% | -0.4% |
| Parsons PSN | United States | $5.16B | -1% | -3% | 5% | 14.8× | 8.4% | +10.2% |
| LG Cns 064400.KS | South Korea | $5.29B | +14% | +4% | 9% | 15.5× | 5.6% | +7.2% |
| Pegasystems PEGA | United States | $5.30B | -10% | +1% | 12% | 13.8× | 8.8% | +11.4% |
| Jiangsu Hoperun Software 300339.SZ | China | $3.65B | -31% | +11% | 3% | 141.9× | n/a | n/a |
| TravelSky Technology 0696.HK | Hong Kong | $3.59B | -5% | +7% | 28% | 9.8× | -16.5% | +9.0% |
| HyundaiAutoever 307950.KS | South Korea | $5.49B | -40% | +16% | 5% | 35.7× | 27.6% | +22.2% |
| TISI 3626.T | Japan | $5.50B | +20% | +5% | 13% | 15.1× | -7.7% | +5.9% |
| Box BOX | United States | $5.76B | +63% | +10% | 9% | 26.0× | 20.3% | +8.8% |
| Ingram Micro INGM | United States | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% | +1.4% |
| NICE Ltd. Sponsored ADR NICE | United States | $5.87B | +4% | +8% | 17% | 7.8× | -0.7% | +12.3% |
| Xi'an Bright Laser Technologies 688333.SS | China | $3.22B | -11% | +12% | 6% | 69.2× | n/a | n/a |