PSA Consumer Electronics: Is Sony (6758 JT) Still On Track to Achieve FY21 OP of ¥1tril?
Tags: Sony (6758 JT), Olympus (7733 JT), Toyota Motor (7203 JT), SoftBank (9984 JT), Japan Post (6178 JT), Mitsubishi UFJ (8306 JT), NTT (9432 JT), SMFG (8316 JT), Mizuho Financial Group (8411 JT), Samsung (005930 KS), Sony Financial (8729 JT)For almost two years now, Pelham Smithers has argued that Sony (6758 JT) is capable of generating ¥1tril in OP by FY21. The issue was whether the firm could concentrate on profitability sufficiently to achieve that. Given doubts have crept in since the start of 2019, this report discusses the outlook for each division over the next two years. As Pelham demonstrates in his OP model and adjusted EV/OP analysis, not only is there value and growth, it seems that the market is factoring in more weakness than consensus suggests .
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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