Yaskawa (6506): FY17 Q1 Results Comment – China Servomotor Demand .....

Key Points  Astounding jump in FY17 Q1 earnings sees 43% upward revision to H1 OP guidance, though full-year is only revised up by the H1 overshoot.  Servomotors were the main driver with Q1 sales rising over 30% YoY while Robotics were only up 10% YoY.  Strong demand for high quality servomotors for smartphone and semiconductor use has led to good pricing power with the China operation in Shenyang enjoying phenomenal marginal profitability with low SG&A.   Motion Control Division FY17 Q1 ...