Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

We are maintaining our fair value estimate after incorporating Toyota’s first-quarter fiscal 2018 results into our model. Total company operating income fell 10.6% year over year as cost-reduction efforts could not offset incentive spending, higher labor and other spending, and a JPY 35 billion foreign currency headwind. The weaker yen against the dollar provided a JPY 30 billion favorable contribution to operating profit, but a stronger yen against a variety of unnamed currencies, likely in…

We are maintaining our fair value estimate after incorporating Toyota’s first-quarter fiscal 2018 results into our model. Total company operating income fell 10.6% year over year as cost-reduction efforts could not offset incentive spending, higher labor and other spending, and a JPY 35 billion foreign currency headwind. The weaker yen against the dollar provided a JPY 30 billion favorable contribution to operating profit, but a stronger yen against a variety of unnamed currencies, likely in…

Toyota Raises Guidance to Start Fiscal 2018 and Announces Mazda Partnership

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

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. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

The press conference held by <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor Corp (7203 JP)</a> and <a href="https://www.smartkarma.com/entities/20528" target="_blank" data-smartkarma-citation="entities:20528:1">Mazda Motor Corp (7261 JP)</a> on Friday August 4th, announcing a capital tie-up, was quite remarkable, in our view: While there was the usual outlining of the scope of the new partnership, with expected cost synergies, manufacturing projects etc., the main focus was on how the two automakers were going to face an uncertain future together. We have known for a while that there is a lot of soul-searching going on at Toyota, and it seems…

The press conference held by Toyota Motor Corp (7203 JP) and Mazda Motor Corp (7261 JP) on Friday August 4th, announcing a capital tie-up, was quite remarkable, in our view: While there was the usual outlining of the scope of the new partnership, with expected cost synergies, manufacturing projects etc., the main focus was on how the two automakers were going to face an uncertain future together. We have known for a while that there is a lot of soul-searching going on at Toyota, and it seems…

Toyota (7203)- Unusual Press Conference as Mazda Is Treated as Equal

Analyst - Japan Autos, Hirakata Office

Noriaki Hirakata, CFA

Analyst - Japan Autos

Hirakata Office

<h2>Toyota and Mazda announced a capital and business alliance after Friday market close</h2>Toyota and Mazda will invest 50 billion yen in each other and Toyota will own 5.05% of Mazda, while Mazda will obtain 0.25% of Toyota stock.The two companies will establish jointly new capacity in the US to produce the Corolla for Toyota and an SUV model for Mazda with around 300K unit annual capacity by early 2020s. They will discuss the global cross supply of the products.<h2>Strategic action allying with Mazda</h2>…

Toyota and Mazda announced a capital and business alliance after Friday market closeToyota and Mazda will invest 50 billion yen in each other and Toyota will own 5.05% of Mazda, while Mazda will obtain 0.25% of Toyota stock.The two companies will establish jointly new capacity in the US to produce the Corolla for Toyota and an SUV model for Mazda with around 300K unit annual capacity by early 2020s. They will discuss the global cross supply of the products.Strategic action allying with Mazda…

Toyota Motor: 1QFY17 Further Strategic Action

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

The Nikkei has reported on <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor Corp (7203 JP)</a> investing in <a href="https://www.smartkarma.com/entities/20528" target="_blank" data-smartkarma-citation="entities:20528:1">Mazda Motor Corp (7261 JP)</a>. Information from the newspaper says that Toyota will acquire 5% of Mazda through the issuance of new shares and that the automakers will invest in a joint facility in the US, spending USD1.6bn to establish a factory with a 300K unit capacity that is initially targeted at Corollas and Mazda crossovers when it opens in 2021.We had previously noted the likelihood of expanded collaboration between the two…

The Nikkei has reported on Toyota Motor Corp (7203 JP) investing in Mazda Motor Corp (7261 JP). Information from the newspaper says that Toyota will acquire 5% of Mazda through the issuance of new shares and that the automakers will invest in a joint facility in the US, spending USD1.6bn to establish a factory with a 300K unit capacity that is initially targeted at Corollas and Mazda crossovers when it opens in 2021.We had previously noted the likelihood of expanded collaboration between the two…

Mazda: Toyota Investment Should Be Big Positive but Results Won't Be Apparent for Several Years

Thematic (Sector/Industry)

Capital alliance: <a href="https://www.smartkarma.com/entities/73" target="_blank">Toyota Motor Corp (7203 JP)</a>  will own 5% of <a href="https://www.smartkarma.com/entities/20528" target="_blank">Mazda Motor Corp (7261 JP)</a> for the sake of the alliance. Mazda may invest into Toyota, the Nikkei said.Purpose: All global automotive companies are rushing to develop EV/PHEVs to comply with the strict environmental regulations in the US (ZEV), China (NEV) and Europe (95g CO2).The two companies will jointly construct new capacity in the US to produce the Corolla for Toyota and an SUV model for Mazda. Our Opinion: This Positive to…

Capital alliance: Toyota Motor Corp (7203 JP)  will own 5% of Mazda Motor Corp (7261 JP) for the sake of the alliance. Mazda may invest into Toyota, the Nikkei said.Purpose: All global automotive companies are rushing to develop EV/PHEVs to comply with the strict environmental regulations in the US (ZEV), China (NEV) and Europe (95g CO2).The two companies will jointly construct new capacity in the US to produce the Corolla for Toyota and an SUV model for Mazda.   Our Opinion: This Positive to…

Nikkei Newspaper Reports Toyota and Mazda Will Form a Capital Alliance.

Japan

Mazda Motor Corporation manufactures and sells automobiles, trucks, auto parts, and its accessories.  The Company operates its business worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Mazda Motor (7261 JP)

Toyota Raises Guidance to Start Fiscal 2018 and Announces Mazda Partnership

We are maintaining our fair value estimate after incorporating Toyota’s first-quarter fiscal 2018 results into our model. Total company operating...

Morningstar, Inc.

Toyota (7203)- Unusual Press Conference as Mazda Is Treated as Equal

The press conference held by Toyota Motor Corp (7203 JP) and Mazda Motor Corp (7261 JP) on Friday August 4th, announcing a capital tie-up, was...

Pelham Smithers Associates

Toyota Motor: 1QFY17 Further Strategic Action

Toyota and Mazda announced a capital and business alliance after Friday market closeToyota and Mazda will invest 50 billion yen in each other and...

Noriaki Hirakata, CFA

Mazda: Toyota Investment Should Be Big Positive but Results Won't Be Apparent for Several Years

The Nikkei has reported on Toyota Motor Corp (7203 JP) investing in Mazda Motor Corp (7261 JP). Information from the newspaper says that Toyota...

Mio Kato

Nikkei Newspaper Reports Toyota and Mazda Will Form a Capital Alliance.

Capital alliance: Toyota Motor Corp (7203 JP) will own 5% of Mazda Motor Corp (7261 JP) for the sake of the alliance. Mazda may invest into...

Noriaki Hirakata, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)