Nippon Chemi-Con rebounded sharply. JPMorgan Securities cut its target price from ¥4,300 to ¥3,700, but upgraded its rating from Neutral to Overweight, expecting earnings momentum to accelerate against the backdrop of rising demand for long-life products as AI servers transition to 800V HVDC.
Nippon Chemi-Con rebounded sharply. JPMorgan Securities cut its target price from the previous ¥4,300 to ¥3,700, but upgraded its rating from Neutral to Overweight. The brokerage indicated that the stock’s decline had increased its valuation appeal.
Looking ahead, JPMorgan Securities expects Nippon Chemi-Con’s earnings momentum to accelerate as demand for long-life products expands during the period when the AI server market transitions to 800V HVDC.
Specifically, the brokerage expects growth in transition-related demand from the second half of fiscal 2026 through fiscal 2027 to support earnings growth. Within Nippon Chemi-Con’s product portfolio, attention is focused on demand trends in areas with a high proportion of long-life products.
However, the report does not provide definitive figures indicating the stock’s short-term direction or a firm investment conclusion, and market developments will need to be monitored.