In this quarterly strategy report, we look to evaluate where we are with regards the bull market conditions, and where those indicators might be headed, factoring in the downside risks, from Trump tariffs and the US economy, BoJ actions, Japanese earnings and valuations.
When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to...
MITSUBISHI ELECTRIC (JP), a company active in the Industrial Machinery industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 3 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date January 21, 2022, the closing price was JPY 1,477.50 and its expected value was e...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The PSA Japan Research Round-Up for the week ending February 16, 2018 Contents at a Glanceï¶ The Weekly Comment by Pelham Smithers: Surf’s up: Pelham Smithers considers whether we are starting to see a break in the link between the yen and the Japanese stock market.ï¶ Reports / Flash Notes Summaries 1. Mitsubishi Electric (6503 JP): FA and Infrastructure Upturn 2. Sony (6758 JP): FY17 Outlook and SoTP5ï¶ Company / Sector / Thematic Comments 1. Sony (6758 JP) Surprises, Irritates with Peter Ra...
PSA Today Feb 14: Japan Market Comment by Pelham Smithers, William Nestuk and Thao Nguyen Nikkei ¥21,154.17 (-¥90.51/ -0.43%); Topix- ¥1,702.72 (-¥14.06 / -,0.82%); ¥/$107.16Tags: Toshiba (6502 JP), Square Enix (9684 JP), Daikin (6367 JP), Nabtesco (6268 JP), Mitsubishi Electric (6503 JP), Fanuc (6954 JP),Yaskawa Electric (6506 JP) Rakuten (4755 JP), Walmart (WMT US), BIC CAMERA (3048 JP), Amazon (AMZN US)Main Points at a Glance • Market slides again • GDP growth just 0.1% QoQ in 4Q 2017 • Toshi...
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 Nest...
The PSA Japan Research Round-Up for the week ending February 02, 2018 Contents at a Glance The Weekly Comment by Pelham Smithers Pelham Smithers is on the alert for a change in market leadership. Reports / Flash Notes Global Auto Sector Outlook for 2018 Shin-Etsu Chemical (4063 JP) FY17 Q3 Results: Strength Across All Segments Fanuc (6954 JP) FY17 Q3 Results: Raising our FY17 and FY18 Estimates Company / Sector / Thematic Comments Sony’s Embarrassment of Riches Cr...
Main Points• As we wrote in the Jan 12 edition of PSA Today, we were “confident Fanuc will come in with very strong FY17 Q3 and Q4 earnings, helped by Robodrill demand and Fanuc’s newfound expanded FA supply capacity.”• Our FY17 OP forecast was 30% above guidance back in June but we raise our numbers for FY17 and FY18.
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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