Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<ul>
<li>As expected, the company went into the red for the first half. It lost Y17.7bn at the operating level for the first half.  Full year operating profit to March 2017 has been revised down to a loss of Y9.5bn from a profit of Y12.2bn earlier.</li>
<li>This loss is due to a Y24bn provision relating to its faulty gas springs. The rest of the business is fine, thus the expected Y8bn operating profit expected in the second half. After providing for Y8.5bn last year for faulty springs relating to Nissan's recall…</li>
</ul>


As expected, the company went into the red for the first half. It lost Y17.7bn at the operating level for the first half.  Full year operating profit to March 2017 has been revised down to a loss of Y9.5bn from a profit of Y12.2bn earlier.
This loss is due to a Y24bn provision relating to its faulty gas springs. The rest of the business is fine, thus the expected Y8bn operating profit expected in the second half. After providing for Y8.5bn last year for faulty springs relating to Nissan's recall…


Showa's Provisioning Done. The Company Can Now Move Forward.

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Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

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Technical Analysis

Showa displays some interesting chart points in the form of bull divergence and a constructive descending wedge which ultimately is bullish but may not be fully mature.We have outlined some valid overhead resistance points that will act as MT targets given a bullish breakout.Daily MACD bull divergence stands out as the biggest driver for any turn around play and rally to 740-50, representing macro resistance on the weekly chart (below). Above 750, targets lie at the 850 price gap and major price…

Showa displays some interesting chart points in the form of bull divergence and a constructive descending wedge which ultimately is bullish but may not be fully mature.We have outlined some valid overhead resistance points that will act as MT targets given a bullish breakout.Daily MACD bull divergence stands out as the biggest driver for any turn around play and rally to 740-50, representing macro resistance on the weekly chart (below). Above 750, targets lie at the 850 price gap and major price…

<ul><li>Showa is a Honda affiliated maker of hydraulic products (mainly shock absorbers) for automobiles (38%) and motorbikes (28%). It also makes steering systems (30% of sales), mainly electric and mainly (90%) to Honda. In total about 70% of sales are to Honda. A tiny 1% or so of sales are gas springs where it is the only domestic maker and has about 40% of the market. These products are used in the opening and closing mechanism of automobile hoods, tail gates and trucks. The gas reaction in the…</li></ul>

Showa is a Honda affiliated maker of hydraulic products (mainly shock absorbers) for automobiles (38%) and motorbikes (28%). It also makes steering systems (30% of sales), mainly electric and mainly (90%) to Honda. In total about 70% of sales are to Honda. A tiny 1% or so of sales are gas springs where it is the only domestic maker and has about 40% of the market. These products are used in the opening and closing mechanism of automobile hoods, tail gates and trucks. The gas reaction in the…

Japan

SHOWA CORPORATION, an affiliate of Honda Motor Co manufactures hydraulic products for automobiles, motorcycles, boats, and construction machinery. The Company's products include shock absorbers, power steering systems, hydraulic cylinders, and cranes.

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Showa Corp (7274 JP)

Showa's Provisioning Done. The Company Can Now Move Forward.

As expected, the company went into the red for the first half. It lost Y17.7bn at the operating level for the first half. Full year operating...

Pearl Hill Advisors

Showa Tactical and Macro Buy Points

Showa displays some interesting chart points in the form of bull divergence and a constructive descending wedge which ultimately is bullish but may...

Thomas Schroeder

Very Oversold Autoparts Maker

Showa is a Honda affiliated maker of hydraulic products (mainly shock absorbers) for automobiles (38%) and motorbikes (28%). It also makes...

Pearl Hill Advisors

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