Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>Revenue increased by 3.2% YoY, while operating profit and recurring profit declined by 9.2% and 37.4% YoY, respectively.</li><li>Automotive Seating and Automotive Suspension Spring segments posted lower revenue, while DDS and Precision Springs & Components segments recorded growth.</li><li>Global HDD production declined YoY, but demand for high-capacity HDDs for data centers increased, boosting HDD suspensions.</li></ul>

Revenue increased by 3.2% YoY, while operating profit and recurring profit declined by 9.2% and 37.4% YoY, respectively.Automotive Seating and Automotive Suspension Spring segments posted lower revenue, while DDS and Precision Springs & Components segments recorded growth.Global HDD production declined YoY, but demand for high-capacity HDDs for data centers increased, boosting HDD suspensions.

Nhk Spring (5991 JP): Q1 FY03/26 flash update

<ul><li>Revenue increased by 4.5% YoY, with operating profit up 50.5% YoY, achieving 100.2% of revenue target.</li><li>Automotive-related business saw increased demand for HEVs and HDD components, boosting revenue and profit significantly.</li><li>FY03/26 forecast: Revenue of JPY800.0bn, operating profit of JPY47.0bn, with a dividend payout ratio of 33.6%.</li></ul>

Revenue increased by 4.5% YoY, with operating profit up 50.5% YoY, achieving 100.2% of revenue target.Automotive-related business saw increased demand for HEVs and HDD components, boosting revenue and profit significantly.FY03/26 forecast: Revenue of JPY800.0bn, operating profit of JPY47.0bn, with a dividend payout ratio of 33.6%.

Nhk Spring (5991 JP): Full-year FY03/25 flash update

<ul><li>Revenue increased YoY across most segments, with Automotive Seating declining; operating profit rose, and GPM improved to 13.7%.</li><li>Revenue increased YoY, narrowing losses; yen depreciation boosted yen-denominated earnings at overseas subsidiaries.</li><li>Semiconductor market recovery increased sales of process components, while high-capacity HDD demand boosted HDD suspensions revenue.</li></ul>

Revenue increased YoY across most segments, with Automotive Seating declining; operating profit rose, and GPM improved to 13.7%.Revenue increased YoY, narrowing losses; yen depreciation boosted yen-denominated earnings at overseas subsidiaries.Semiconductor market recovery increased sales of process components, while high-capacity HDD demand boosted HDD suspensions revenue.

Nhk Spring (5991 JP): Q3 FY03/25 flash update

<ul><li>Revenue increased to JPY391.2bn (+8.0% YoY), with operating profit at JPY22.9bn (+188.6% YoY) and recurring profit at JPY27.0bn (+43.8% YoY).</li><li>The company revised its full-year FY03/25 forecast, projecting revenue of JPY800.0bn (+4.3% YoY) and operating profit of JPY50.0bn (+44.3% YoY).</li><li>The semiconductor market recovery and demand for high-capacity HDDs contributed to increased revenue and profit across segments.</li></ul>

Revenue increased to JPY391.2bn (+8.0% YoY), with operating profit at JPY22.9bn (+188.6% YoY) and recurring profit at JPY27.0bn (+43.8% YoY).The company revised its full-year FY03/25 forecast, projecting revenue of JPY800.0bn (+4.3% YoY) and operating profit of JPY50.0bn (+44.3% YoY).The semiconductor market recovery and demand for high-capacity HDDs contributed to increased revenue and profit across segments.

Nhk Spring (5991 JP): 1H FY03/25 flash update

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.</li>
<li>As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.</li>
<li>Following the election, we see a high probability of significant upside going into year-end.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.
As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.
Following the election, we see a high probability of significant upside going into year-end.


Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Japan

NHK SPRING CO., LTD. manufactures springs for automobiles and electronic equipment.  The Company's products are used for suspension, engine valves, seats, and hard disk drives(HDD).

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Nhk Spring (5991 JP)