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.
SUMCO (JP), a company active in the Semiconductors industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 18, 2022, the closing price was JPY 2,393.00 and its potential was ...
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....
Offering valuation and yield support after their precipitous fall, Sumco shares nevertheless continue to offer a number of near-term risks. Analyst Joel Scheiman argues that, while softening demand in 2019 could still get ugly, the longer-term picture for Sumco is positive.
Japan Market Comment by Julie Boote, Joel Scheiman and Thao Nguyen Nikkei ¥21,181.64 (-¥542.83 / -2.50%); Topix ¥1,708.34 (-¥31.86 / -1.83%); ¥/$105.85 Tags: Nippon Steel & Sumitomo Metal Corp (5401 JP), JFE Holdings (5411 JP), Kobe Steel (5406 JP), Nisshin Steel (5413 JP), Yamato Kogyo (5444 JP), Olympus (7733 JP), Hoya (7741 JP), Chugai Pharma (4519 JP), Tokai Carbon (5301 JP), Sumco (3436 JP), Isuzu Motors (7202 JP), Toyota (7203 JP), Honda (7267 JP), Subaru (7270 JP), Nissan (7201 JP),...
PSA Today Feb 2: Japan Market Comment by Julie Boote, Joel Scheiman and William Nestuk Nikkei ¥23,274.53 (-¥211.58/ -0.90%); Topix ¥1,864.20 (-¥6.24 / -0.33%); ¥/$109.75Tags: Sony (6758 JP), Apple (AAPL US), Honda (7267 JP), Konica Minolta (4902 JP), Fujifilm (4901 JP), Xerox Corp (XRX US), Denso (6902 JP), Aisin Seiki (7259 JP), Toyota (7203) JP, Continental (CON GR), Bosch GEMain Points• Nikkei knocked back by semiconductor, Apple supply chain concerns • Sony’s embarrassment of riches • Honda ...
Key Points • Sumco shares surged sharply from Oct 2017 as the market became more convinced of the underlying strength supporting semiconductor silicon price hikes. In addition, it became clear that tightness was broadening beyond 300mm wafers to include 200mm and even smaller circumference wafers as well. • In Aug 2017, Sumco management explained that it had finalized new contracts with most of its 300mm wafer purchasers, resulting in a steady increase in prices set to continue at least until 20...
New Longs: 3436 JT, 8306 JT Ideas Review The long in Advantest kicked in instantly. This is positive action today and suggests that this stock is likely to continue a strong period of outperformance from here. Despite today's move, we are buyers. Resona has traded well and made a new high for the current move. Immediate resistance is coming up for next week but we suspect that it will take it out. A closing above 650 opens up a blue sky move. Softbank has cleared all resistance and its a mat...
It seems Sumco may well have learned a bitter lesson about managing markets, after it overinvested in 300mm wafer capacity from FY05-FY08. As far as the company’s foreign exchange hedging is concerned however, management appears to be repeating poor judgement evinced in FY13. FY17 Q1 guidance could well disappoint. The shares are up 2.3x since June 2016, on the weaker yen, and expectations of 300mm wafer price hikes. Valuations strike us as stretched. The market appears to be discounting a recov...
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...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.