Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

[Japan Offering] Kawasaki Heavy (7012) Deal Probably Prices Today

[Japan Offering] Kawasaki Heavy Offering Details Out

[Japan Offering] Kawasaki Heavy (7012 JP) Looking at an Offering

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Kawasaki Heavy Industries / Equity Bottom-Up

<ul>
<li>KHI's new share and CB issues will fund production upgrades while strengthening the balance sheet. Potential dilution should be in the price.</li>
<li>The share price has been declining since March as overbought defense contractors were sold off. That is coming to an end. MHI has started to recover. </li>
<li>Collaboration with Airbus and Eurodrone is another reminder that Japan's defense build-up is not driven by the wars in Ukraine or the Persian Gulf. </li>
</ul>


KHI's new share and CB issues will fund production upgrades while strengthening the balance sheet. Potential dilution should be in the price.
The share price has been declining since March as overbought defense contractors were sold off. That is coming to an end. MHI has started to recover. 
Collaboration with Airbus and Eurodrone is another reminder that Japan's defense build-up is not driven by the wars in Ukraine or the Persian Gulf. 


KHI (7012 JP): Production Upgrades & Drone Deal with Airbus