- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Today 26 Apr: ROW realities trip-up / Advantest / Canon Q1 network camera surprise / Hino / Zeon / Nitto Denko / HCM, Fanuc / CyberAgent / OBC, Obic / Cybozu – Nikkei 225 -0.71%
Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote, William Nestuk, Thao Nguyen and Lindsay WhippTags: Alphabet (GOOG US), Microsoft (MSFT US), M3 (2413 JT), Lasertec (6920 JT), Keyence (6861 JT), Renesas (6723 JT), Rorze Corp (6323 JT), Sysmex (6869 JT), Danaher (DHR US), Shimano (7309 JT), Koa (6999 JT), Nidec (6594 JT), Zeon Corp (4205 JT), Shin-Etsu Polymer (7970 JT), Shin-Etsu Chemical (4063 JT), Advantest (6857 JT), Canon (7751 JT), Canon Marketing (8060 JT), Hangzhou Hikvision Digital Technology (002415 CH), Omron (6645 JT), Nitto Denko (6988 JT), Hino Motors (7205 JT), Fanuc (6954 JT), Hitachi Construction Machinery (6305 JT), Komatsu (6301 JT), CyberAgent (4751 JT), Netflix (NFLX US), Obic Business Consultants (4733 JT), Money Forward (3994 JT), Freee KK (4478 JT), Obic (4684 JT), Cybozu (4776 JT), Nitto Denko (6988 JT), Hino Motors (7205 JT), Komatsu (6301 JT), Netflix (NFLX US)
Main Points
• Earnings worries hit Japan shares
• Advantest forecasts -37% YoY drop in FY23 OP
• Canon’s FY23 Q1 OP rises +11% YoY
• Omron FY22 Q4 OP +24% YoY
• Zeon falls only -2% despite weak guidance
• Nitto Denko issues guidance above consensus
• Hino forecasts low FY23 OP growth
• Powerful HCM Q4 and firm FY23 guidance bode well for Komatsu
• Fanuc disappoints for FY23 guidance but robotics remain in high-gear
• CyberAgent’s FY23 Q2 a positive surprise
• OBC FY22 full-year sales and OP decline
• Obic FY22 full-year sales and OP rise
• Cybozu’s monthly sales growth continues to slow
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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