Hoshizaki Will Largely Meet its Full-Year Guidance Even Under the Struggling Environment in America.
Wide-moat Hoshizaki’s third-quarter results were in line with our expectation and we expect the company will largely meet its full-year operating income guidance. Sales and operating income grew 8% and 4%, respectively, driven by a healthy Japan market and a rebound of Western Refrigeration’s sales. Stripping out the effect of a weaker Japanese yen, the growth overseas remained tepid at around 2% based on our estimate, on the back of soft restaurant demand in the U.S., consistent with commentary...Hoshizaki and its subsidiaries are mainly engaged in the research, development, manufacture, sale and maintenance of kitchen equipment for industrial use. Co.'s principal products are ice makers including fully-automatic and large-scale ice makers, cooking electrolyzers, meal service carts, high humidity refrigerators, frozen refrigerators, cold salt water system, washing electrolyzers, dish washers, ice dispensers, tea servers, cooking appliances including electromagnetic cookers, electronic frying equipment and microwaves, among others. Co. provides its products in Japan as well as North and South America, Europe, Asia and other regions.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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