PSA Auto Parts / Machinery: Toyota Industries (6201 JT) – FY21 Q1 OP Pressures: Chip Shortage, US EPA Forklift Issue, New Battery Costs
William Nestuk thinks the outlook for TICO remains positive, though investors may wish to wait for the Q1 results and for further clarity over costs. Meanwhile, uncertainty over the Automobile division prevails and the US forklift certification issue remains.Toyota Industries is mainly engaged in the manufacture and sale of automobiles, industrial vehicles and textile machinery, as well as logistics business. Co. operates in three business segments: automobile, industrial vehicle and textile machinery. The Automobile segment manufactures and sells automobiles, engines and compressors for automotive air-conditioners, foundry pieces and electronic equipment. The Industrial Vehicle segment provides forklift trucks, warehouse equipment, automatic warehouse, vehicles for high-place work. The Textile Machinery segment offers weaving machines and spinning machines, as well as yarn quality measurement equipment and cotton grading equipment.
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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