Komatsu Ltd

Komatsu – Sensible Top Line Guidance But Margins Too Conservative

Equity Bottom-Up
447 Views, 06 May 2022 07:32
EXECUTIVE SUMMARY
  • Komatsu reported 4QFY22 results on the 28th of April and recorded revenue of ¥787bn (6.2% above consensus) and OP of ¥94.5bn (13.1% above consensus). 
  • They also guided for revenue to increase 7.1% YoY vs. HCM which guided for a 6.3% fall driving a significant and premature share price decline. 
  • The market has corrected some of that fall as it appears to increasingly agree with our call that HCM’s guidance was nonsense conservatism.
detail (2-minute read)
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Mio Kato
Japan/Asia Long-Short
LightStream Research
JapanEquity Bottom-UpEquity Capital Markets

Over 15 years analysing Japanese and Asian stocks from a long/short perspective I focus on cyclically driven sectors su... 

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