ASEAN has long been considered one of the global auto markets with the best growth prospects, but expectations have not been met. With China in trouble and ASEAN auto sales lacklustre, Japanese automakers need to review their positioning in Asia. Analyst Julie Boote provides a short-term outlook for the ASEAN auto market, and discusses Japanese assemblers’ options within this context.
Renault’s decision to cancel the IPO of its EV unit Ampere might be the right move considering the poor market conditions, but it is also an indication that Ampere’s operational and financial targets could be too ambitious. This raises questions about Nissan’s commitment to invest in Ampere. While Nissan states that its position towards Ampere has not changed, analyst Julie Boote questions whether this is true, or, indeed, wise.
While Japan’s automakers have upped their game in the EV space, they remain laggards on the global stage. With the EV markets now in trouble, analyst Julie Boote assesses whether or not the Japanese assemblers have been vindicated in their more cautious approach to electrification.
As electric vehicles are set to replace combustion engine cars over time, established automakers need to prove they can remain competitive in this new market. In this context, much attention has been given to battery technology, but the creation of an optimal EV auto platform is just as important. Here, the jury is still out, as we are in the early development days. Analyst Julie Boote discusses how the prefect EV platform should look like and where automakers are currently positioned.
This has been an impressive earning season for Japanese automakers, with FY23 Q1 net sales and OP of the seven listed companies all surging by double-digit rates. Analyst Julie Boote takes us through the factors behind the performance and highlights the positives and negatives to consider going forward.
It has been a mixed earning season for Japanese automakers, although most are predicting strong profit growth for FY23. Despite the positive outlook, the market’s reaction has been lukewarm, due to concerns over overoptimism for sales growth and rapidly rising expenses. Analyst Julie Boote explores what the most important share price drivers could be for the seven listed automakers for FY23.
At the beginning of every year we publish our PSA Perspective, a report intended as a long shelf-life look at the year ahead. This year Pelham Smithers discusses Japan's economy, the outlook for the stock market, and some stand-out themes and developments for the year. These include the digital yen and the demise of live action entertainment in Japan. We also update our noted PSA Focus List of stocks. Table of Contents Overview 3 Background: 4 Japan’s Economic Outlook 5 Ja...
The transition to electrification remains the key focus for the auto industry, with EV sales performances by market and automaker being closely watched by investors. In 2022, China solidified its position as the global EV stronghold, a success that is encouraging its automakers to expand globally. Despite supply disruptions and concerns over falling subsidies and rising prices, the outlook for the EV market remains positive. In this in-depth report, analyst Julie Boote reviews major developments...
As Renault is considering the spin-off of its EV business to generate much-needed funds, the alliance’s combined electrification strategy is at risk. Analyst Julie Boote outlines Renault’s plans and possibilities and investigates the potential consequences for alliance partner Nissan.
The Japanese stock market is in an interesting phase where the Bank of Japan is supporting the bond market rather than the stock market. While this phase lasts, the dollar should remain above ¥120/$ and perhaps strengthen further against the yen. This report looks at what this phase might mean for the Japanese stock market as a whole, and for stock selection. The PSA Focus List has also been updated.
At the beginning of 2022, automakers anticipated an easing of the supply constraints, with production volumes expected to rise in FY22. However, the Ukrainian / Russian war is threatening to lead to a further disruption of the supply chain. Analyst Julie Boote investigates which raw materials and parts could see further bottlenecks , and how this could affect the Japanese OEMs.
Despite major restructuring efforts and progress made on the price, image and cost front, investors remain on the side-lines when assessing Nissan. The automaker has to prove that it can move from a phase of recovery to a phase of sustainable growth, giving evidence of being globally competitive over the long run. Analyst Julie Boote examines Nissan’s prospects for FY2022.
NISSAN MOTOR (JP), a company active in the Automobiles industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 4 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 28, 2022, the closing price was JPY 605.40 and its expected value was estimated at JPY 59...
Although the Japanese economy, politics and stock market seem to be where they were this time last year, there is a seismic shift going on in the way the Japanese stock market behaves that could make investing in Japan in 2022 quite different to previous years. We look at how and why this shift has taken place and what it means for investing in Japan in the coming year.
Over the last two years, global EV sales have accelerated, moving from niche market to mass market. Concerned about rising CO2 levels, national governments are supporting the electrification of private transport, and consumers are increasingly willing to ‘go electric’. Established automakers have drawn up EV and battery strategies, trying to remain key players in this new EV world. In this report, analyst Julie Boote outlines the different paths dedicated EV players and traditional OEMS are tak...
Japan's and Toyota's electrification efforts seem to develop in parallel: the Japanese government is increasingly committing to the creation of a domestic BEV market, and Toyota significantly raised its BEV sales target for 2030. Accordingly, we expect to see strong growth in Japanese BEV sales and a more prominent position for Toyota among global players.
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