Mitsubishi Electric (6503 JP): FA & Infrastructure Upturn
Key Points
- Mitsubishi Electric is Japan’s largest purveyor of FA equipment and global No. 1 or 2 in several products, yet it remains the cheapest FA play in the market.
- We anticipate a steady improvement in overall OPM thanks to new high-margin FA products, an upswing in Infrastructure Systems and a cyclical recovery in energy-related maintenance
- Over time, Auto earnings will also expand thanks to the shift to autonomous driving and the increased electrification of vehicles.
Willian Nestuk
Mitsubishi Electric is engaged in the manufacture and sale of electrical and electronic equipment. Energy and Electronic Systems segment offers turbine generators, nuclear power plant equipment, transformers and motors. Industrial Automation Systems segment offers programmable logic controllers, inverters, human-machine interfaces and magnetic switches. Information and Communication Systems segment offers wireless and wired communications systems, surveillance cameras and satellite communications equipment. Electronic Devices segment offers power modules, high-frequency devices and optical devices. Home Appliances segment offers LCD televisions, room air conditioners and refrigerators.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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