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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Nakanihon KOGYO Co's Beneish M-Score or its related term are showing as below:
NGO:9643'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.7 Max: -0.56
Current: -2.49
During the past 13 years, the highest Beneish M-Score of Nakanihon KOGYO Co was -0.56. The lowest was -3.00. And the median was -2.70.
Nakanihon KOGYO Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Nakanihon KOGYO Co's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NGO:9643 vs NFLX, DIS, WBD: Beneish M-Score Comparison
For the Entertainment subindustry, Nakanihon KOGYO Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nakanihon KOGYO Co Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Nakanihon KOGYO Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nakanihon KOGYO Co's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Nakanihon KOGYO Co for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.0544
+
0.528 * 1.0229
+
0.404 * 1.1624
+
0.892 * 1.2248
+
0.115 * 0.9201
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8089
+
4.679 * -0.081078
-
0.327 * 0.9475
=
-2.49
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(205.624 / (205.624 + 2522.296))
/
(231.229 / (231.229 + 2591.124))
=
0.075378
/
0.081928
=
0.9201
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(127.72 - 0
-
605.171)
/
5888.8
=
-0.081078
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Nakanihon KOGYO Co has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
Nakanihon KOGYO Co (NGO:9643) has a Beneish M-Score of -2.49 as of Aug. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nakanihon KOGYO Co and its competitors. According to the industry distribution chart, Nakanihon KOGYO Co ranks #539 out of 974 companies in the Media - Diversified industry, placing it in the top 55.3%.
Is Nakanihon KOGYO Co's Beneish M-Score too high?
Nakanihon KOGYO Co's current Beneish M-Score is -2.49. Based on the distribution chart, Nakanihon KOGYO Co ranks #539 out of 974 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Nakanihon KOGYO Co has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nakanihon KOGYO Co's Beneish M-Score compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, Nakanihon KOGYO Co ranks #539 out of 974 companies for Beneish M-Score. This places Nakanihon KOGYO Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nakanihon KOGYO Co and its competitors. Nakanihon KOGYO Co's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nakanihon KOGYO Co stock overvalued right now?
Based on GuruFocus' analysis, Nakanihon KOGYO Co (NGO:9643) is currently considered Modestly Undervalued. The stock's GF Value™ is 円13,604.91, compared to a current price of 円11,040.00 — trading 18.9% below its estimated fair value. The current Beneish M-Score is -2.49. Nakanihon KOGYO Co's overall GF Score™ is 60/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Nakanihon KOGYO Co (NGO:9643), the current Beneish M-Score is -2.49 as of Aug. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nakanihon KOGYO Co (NGO:9643) Overvalued in 2026?
Based on GuruFocus' analysis, Nakanihon KOGYO Co stock appears to be undervalued.
The current stock price of 円11,040.00 is trading 18.9% below its estimated GF Value™ of 円13,604.91.
GuruFocus considers Nakanihon KOGYO Co to be Modestly Undervalued.
Key valuation signals for NGO:9643:
Beneish M-Score: -2.49
GF Value™: 円13,604.91 vs. price of 円11,040.00 (18.9% below fair value)
No single metric tells the full story. See the NGO:9643 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nakanihon KOGYO Co Ltd is a Japan-based company engaged in the movie entertainment and real estate leasing businesses. Its operating segments include Cinema Business, Advertising Business, and Real Estate Leasing Business. It generates the majority of its revenue from the Cinema Business.
60GF Score
Get the complete analysis for NGO:9643
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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