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Japanese aluminum producer spanning smelting, rolled/extruded products and specialty chemicals.
Japanese aluminum producer spanning smelting, rolled/extruded products and specialty chemicals.
Fabricated aluminium is usually priced as the metal's market cost plus a processing charge, so earnings are mostly the fabricating margin rather than a bet on the metal. Alumina-based chemicals, carbon products and transport-equipment parts diversify the group.
In one line: A vertically integrated Japanese Alcoa.
Moat: narrow (scale, process know-how). Long-established integrated aluminum producer with proprietary refining/alloy technology.
Headquarters: Tokyo, Japan · Founded: 1939 · Employees: 12,123
Size Nippon Light Metal (5703.T) is a Japan Materials company (Aluminum) with a market value of $949M, the 757th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,416 on 6 Nov 2026.
Performance Over six months the shares fell 15.3%, against -24.9% for the median peer and +1.8% for the Japan market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 13.5% over the last twelve months (peer median +16.3%); the operating margin is 5.5% (peer median 3.4%).
Valuation It trades at 8.8× forward earnings against a peer median of 25.0× (cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.0 points above its cost of capital (5.6% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥645B | ¥585B | ¥550B | ¥524B | ¥517B |
| Revenue growth | — | +6% | +5% | +1% | — |
| Gross profit | ¥114B | ¥102B | ¥95.3B | ¥88.6B | ¥76.9B |
| EBITDA | ¥56.9B | ¥46.8B | ¥42.9B | ¥39.2B | ¥28.0B |
| Net income | ¥21.6B | ¥15.6B | ¥12.4B | ¥9.94B | ¥7.20B |
| Free cash flow | n/a | ¥5.47B | -¥7.98B | ¥16.0B | -¥15.8B |
| Capital expenditure | n/a | ¥22.0B | ¥21.7B | ¥23.9B | ¥18.4B |
| Total debt | ¥182B | ¥171B | ¥174B | ¥161B | ¥169B |
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 |
|---|---|---|---|---|---|---|
| Nippon Light Metal 5703.T | $949M | -15% | +14% | 5% | 8.8× | -4.1% |
| UACJ 5741.T | $2.06B | -36% | +28% | 9% | 6.2× | -5.3% |
| Kobe Steel 5406.T | $4.83B | 0% | -3% | 5% | 7.7× | -1.1% |
| Sumitomo Electric Industries 5802.T | $27.3B | -47% | +14% | 9% | 11.4× | 13.3% |
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 | 5703.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -15.6% | -8.0% | 5th lowest of 21 |
| 6-month return | -15.3% | -24.9% | 6th highest of 21 |
| Distance from 52-week high | -27.4% | -39.3% | 5th highest of 21 |
| Revenue growth (TTM) | +13.5% | +16.3% | 9th lowest of 21 |
| Operating margin | 5.5% | 3.4% | 9th highest of 21 |
| Forward P/E | 8.8× | 25.0× | cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -4.1% | 5.5% | 2nd least demanding of 7 |
| Growth delivered (Del g) | +6.2% | +9.8% | 3rd lowest of 7 |
| Hurdle (Req g minus delivered) | -10.3 pp | -7.7 pp | 4th least demanding of 7 |
| ROIC minus cost of capital | +0.0 pp | -2.5 pp | 7th highest of 21 |
| EV / EBITDA | 5.3× | 8.4× | cheapest of 4 |
| Net debt / EBITDA | 2.4× | 3.2× | 3rd least indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Light Metal 5703.T | Japan | $949M | -15% | +14% | 5% | 8.8× | -4.1% | +6.2% |
| Yechiu Metal Recycling (China) 601388.SS | China | $1.01B | -25% | +10% | 7% | 16.2× | 2.0% | +6.2% |
| Guangdong Haomei New Material 002988.SZ | China | $1.01B | -22% | +16% | 1% | 55.2× | n/a | n/a |
| Jiangsu Asia-Pacific Light Alloy Technology 002540.SZ | China | $885M | -20% | +26% | 2% | 11.8× | n/a | n/a |
| Yong Jie New Material 603271.SS | China | $1.03B | -33% | +57% | 4% | n/a | 9.1% | +20.3% |
| GETO New Materials 300986.SZ | China | $856M | -39% | +23% | 9% | 23.5× | n/a | n/a |
| Yinbang Clad Material 300337.SZ | China | $1.06B | -38% | +45% | 3% | n/a | n/a | n/a |
| Guangdong Hoshion Industrial Aluminium 002824.SZ | China | $825M | -29% | +34% | 4% | 29.1× | n/a | n/a |
| Elkem ELK.OL | Norway | $1.18B | +7% | -12% | 3% | n/a | 17.0% | -7.2% |
| Fujian Minfa Aluminium 002578.SZ | China | $726M | +20% | +15% | -2% | 62.6× | n/a | n/a |
| Grinm Metal Composites (Beijing) Technology 688811.SS | China | $1.27B | -30% | 0% | 11% | n/a | n/a | n/a |
| Giansun Precision Technology 001400.SZ | China | $1.41B | -35% | 0% | 10% | n/a | n/a | n/a |
| Shenzhen Sunxing Light Alloy Materials 603978.SS | China | $601M | -29% | +32% | 1% | n/a | n/a | n/a |
| Jiangsu Alcha Aluminium 002160.SZ | China | $573M | -25% | +8% | 2% | 26.4× | n/a | n/a |
| Chongqing Shunbo Aluminum 002996.SZ | China | $566M | -25% | +17% | 1% | n/a | n/a | n/a |
| Nantong Haixing Electronics 603115.SS | China | $1.62B | -22% | +21% | 8% | 33.5× | n/a | n/a |
| Jiaozuo Wanfang Aluminum Manufacturing 000612.SZ | China | $1.71B | -28% | +13% | 32% | n/a | -13.0% | +6.6% |
| Kaiser Aluminum KALU | United States | $1.75B | -41% | +40% | 8% | 10.9× | 0.8% | +23.5% |
| Zyf Lopsking Material Technology 002333.SZ | China | $513M | -8% | -17% | 3% | n/a | 13.7% | +13.0% |
| Granges GRNG.ST | Sweden | $1.83B | -6% | +27% | 6% | 12.1× | n/a | n/a |
| Shandong Chiway Industry Development 002374.SZ | China | $479M | -8% | -10% | -38% | n/a | n/a | n/a |