Exit from Digital Camera Business Will Enhance Casio’s Product Portfolio; Shares Fairly Valued
Casio Computer’s new operating income guidance for fiscal 2019 (financial year ending March 2019) is JPY 35 billion, which is below our forecast and the market expectation of JPY 38 billion. We believe the difference mainly comes from the increasing investment of JPY 3 billion to develop new businesses, and meanwhile, watches and calculators appear to be solid. Therefore, even though Casio’s plan to increase its revenue by 8% for this fiscal year looks unrealistic, we believe that Casio’s operat...Casio Computer is mainly engaged in the development, manufacture and sale of consumer electronics. Along with its affiliates, Co. operates in three business segments. The Consumer segment is engaged in the manufacture and sale of watches, clocks, electronic dictionaries, electronic calculators, label printers, electronic musical instruments and digital cameras. Co.'s watch brands include "G-SHOCK," "BABY-G," "PRO TREK," "EDIFICE," "OCEANUS, " "SHEEN," "PHYS," "wave ceptor" and "LINEAGE." The System equipment segment provides handy terminals, electronic cash registers including POSs, office computers, page printers and data projectors. The Other segment manufactures molds and other products.
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