Report
Kazunori Ito
EUR 100.00 For Business Accounts Only

5G will Drive Digitalization of non-IT Industry, Mitigating the Slowdown of Handset’s Shipment

After reviewing our forecasts and meeting the company, we retain Taiyo Yuden’s fair value estimate of JPY 3,000. Owing to concerns for the trade war and the uncertainty about smartphone demand, Taiyo Yuden’s share price has declined more than 25% since its recent peak in April. However, we view Taiyo Yuden’s business portfolio is better diversified than in the past, and thus its revenue from multilayer ceramic capacitors, or MLCCs, will be supported by the robust demand from autos and telecom ba...
Underlying
Taiyo Yuden Co. Ltd.

TAIYO YUDEN is a manufacturer mainly engaged in the electronic component business. Co. is involved in the manufacture and sale of electronic parts such as ceramic condensers, inductors, ferrite-applied components, ferrite cores, high frequency dielectric components, circuits modules, energy devices and composite ceramic applied components, among others. Co. is also engaged in the temporary staffing services, as well as consultation services for environmental measurement.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

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.

We have operations in 27 countries.

Analysts
Kazunori Ito

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