Altman Z'' score, latest filing
All 74 of the 100 with a computed Altman Z'' score, sorted highest first.
Altman's Z'' is his 1995 balance-sheet formula for non-manufacturers, built on US data and book equity. It weights four ratios to total assets or liabilities, shown on each company's page. His bands are above 2.6, 1.1 to 2.6 and below 1.1.
10 banks and insurers are left out, because deposits, loans and policy reserves run through their operating cash flow. 16 companies have no figure for the latest fiscal year in the filings.
| Company | Z'' | Altman band |
|---|---|---|
| 6861 Keyence | 25.57 | above 2.6 |
| 6273 SMC | 18.12 | above 2.6 |
| 6954 Fanuc | 15.95 | above 2.6 |
| 6981 Murata Manufacturing | 11.69 | above 2.6 |
| 9697 Capcom | 11.63 | above 2.6 |
| 6920 Lasertec | 11.5 | above 2.6 |
| 6146 Disco | 10.94 | above 2.6 |
| 4063 Shin-Etsu Chemical | 10.85 | above 2.6 |
| 7974 Nintendo | 10.72 | above 2.6 |
| 6857 Advantest | 9.74 | above 2.6 |
| 6988 Nitto Denko | 9.64 | above 2.6 |
| 8035 Tokyo Electron | 9.24 | above 2.6 |
| 9766 Konami Group | 9.01 | above 2.6 |
| 7832 Bandai Namco Holdings | 8.57 | above 2.6 |
| 9983 Fast Retailing | 7.06 | above 2.6 |
| 4661 Oriental Land | 6.83 | above 2.6 |
| 4578 Otsuka Holdings | 6.81 | above 2.6 |
| 9735 Secom | 6.24 | above 2.6 |
| 6098 Recruit Holdings | 6.12 | above 2.6 |
| 5108 Bridgestone | 6.09 | above 2.6 |
| 6525 Kokusai Electric | 5.89 | above 2.6 |
| 6971 Kyocera | 5.87 | above 2.6 |
| 4507 Shionogi | 5.54 | above 2.6 |
| 6902 Denso | 5.5 | above 2.6 |
| 6503 Mitsubishi Electric | 5.42 | above 2.6 |
| 6702 Fujitsu | 5.35 | above 2.6 |
| 4543 Terumo | 5.28 | above 2.6 |
| 7269 Suzuki Motor | 5.08 | above 2.6 |
| 6367 Daikin Industries | 4.92 | above 2.6 |
| 4062 Ibiden | 4.71 | above 2.6 |
| 1605 INPEX | 4.57 | above 2.6 |
| 4568 Daiichi Sankyo | 4.45 | above 2.6 |
| 5016 JX Advanced Metals | 4.41 | above 2.6 |
| 2914 Japan Tobacco | 4.33 | above 2.6 |
| 3407 Asahi Kasei | 4.25 | above 2.6 |
| 4307 Nomura Research Institute | 4.05 | above 2.6 |
| 6701 NEC | 3.84 | above 2.6 |
| 6762 TDK | 3.81 | above 2.6 |
| 9532 Osaka Gas | 3.67 | above 2.6 |
| 2802 Ajinomoto | 3.64 | above 2.6 |
| 8015 Toyota Tsusho | 3.61 | above 2.6 |
| 285A Kioxia Holdings | 3.47 | above 2.6 |
| 6326 Kubota | 3.44 | above 2.6 |
| 7272 Yamaha Motor | 3.37 | above 2.6 |
| 9022 Central Japan Railway | 3.36 | above 2.6 |
| 6758 Sony Group | 3.35 | above 2.6 |
| 1812 Kajima | 3.16 | above 2.6 |
| 9101 Nippon Yusen | 3.1 | above 2.6 |
| 5020 ENEOS Holdings | 3.04 | above 2.6 |
| 4503 Astellas Pharma | 3.03 | above 2.6 |
| 9531 Tokyo Gas | 3.02 | above 2.6 |
| 6752 Panasonic Holdings | 2.99 | above 2.6 |
| 2503 Kirin Holdings | 2.95 | above 2.6 |
| 6723 Renesas Electronics | 2.93 | above 2.6 |
| 5401 Nippon Steel | 2.71 | above 2.6 |
| 7203 Toyota Motor | 2.68 | above 2.6 |
| 4004 Resonac Holdings | 2.42 | 1.1 to 2.6 |
| 9104 Mitsui O.S.K. Lines | 2.33 | 1.1 to 2.6 |
| 8801 Mitsui Fudosan | 2.32 | 1.1 to 2.6 |
| 7013 IHI | 2.2 | 1.1 to 2.6 |
| 8802 Mitsubishi Estate | 2.14 | 1.1 to 2.6 |
| 7267 Honda Motor | 1.99 | 1.1 to 2.6 |
| 8830 Sumitomo Realty & Development | 1.94 | 1.1 to 2.6 |
| 3382 Seven & I Holdings | 1.75 | 1.1 to 2.6 |
| 9503 Kansai Electric Power | 1.64 | 1.1 to 2.6 |
| 4502 Takeda Pharmaceutical | 1.23 | 1.1 to 2.6 |
| 9020 East Japan Railway | 1.21 | 1.1 to 2.6 |
| 2502 Asahi Group Holdings | 1.2 | 1.1 to 2.6 |
| 8601 Daiwa Securities Group | 0.75 | below 1.1 |
| 8267 AEON | 0.56 | below 1.1 |
| 9433 KDDI | 0.25 | below 1.1 |
| 8697 Japan Exchange Group | 0.05 | below 1.1 |
| 9434 SoftBank | −0.07 | below 1.1 |
| 9432 NTT | −0.38 | below 1.1 |