June 19, 2026 06:30 AM GMT Nippon Sanso Holdings (4091) | Japan M Idea Expect a Soft Start in Japan and Europe | What's Changed | | | | --- | --- | --- | | Nippon Sanso Holdings (4091.T) | From | To | | Price Target | ¥4,900 | ¥5,300 | We expect power costs to rise from F3/27 2Q. Key Takeaways Revise PT to ¥5,300 and stay UW: We shift out PT base year from F3/27 to F3/28. Our ¥5,300 PT is based on our F3/28 EPS estimate of ¥316.0 and a P/E of 16.8x. As before, our target P/E is the avg. P/E for the three in ...