Added to YB: 2026-04-22
Pitch date: 2026-04-21
8697.T [bullish]
Japan Exchange Group, Inc.
-3.04%
current return
Author Info
Aurelion Research is a research analyst with a passion for markets, specializing in high‑conviction ideas across shipping, offshore drilling, and thematic equity research. Sign up for the newsletter.
Company Info
Japan Exchange Group, Inc. operates as a financial instruments exchange holding company in Japan. It engages in the operation of financial instruments exchange markets for trading listed securities and derivatives instruments to market users; publication of stock prices and quotations; provides market facilities for trading of commodity derivatives, physical commodities, and commodity index futures; self-regulatory operations, such as listing examination, listed company compliance, market surveillance, and inspections and examinations of trading participants.
Market Cap
JPY 2.0T
Pitch Price
JPY 1.9K
Price Target
N/A
Dividend
2.56%
EV/EBITDA
14.60
P/E
25.41
EV/Sales
9.87
Sector
Capital Markets
Category
growth
3. Japan Exchange Group ($8697.T)
8697.T: Japan's monopoly exchange controls all equities/derivatives trading & clearing via JPSC. 11.6% rev CAGR driven by cash equities (14.8% CAGR since Q1'21), clearing income up on rates. Q3'25 rev +14.8% YoY, op income +17.1%, record 60% pretax margin. 3.2% yield, 60% payout ratio. Trades 22x fwd P/E (premium but justified by monopoly moat, regulatory lock-in, low capex at 9% rev). Solid market+ returns.
Read full article (3 min)