Independent Insight Provider, 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.

Independent Insight Provider, Japanese equities

Kyocera (6971 JP): Strong Performance Unlikely to Last

Kyocera (6971 JP) Founder Kazuo Inamori Passes - Implications for Holdings

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

<ul>
<li>Kyocera cut FY Mar-23 operating profit guidance by more than 30% while leaving sales guidance unchanged. Draw your own conclusions about the reliability of company forecasts.</li>
<li>Sales began to decline in 3Q and the rate of decline is likely to increase in 4Q. There is a large inventory overhang.</li>
<li>The shares dropped 3% today. Wait for capitulation as the reality of recession sinks in.</li>
</ul>


Kyocera cut FY Mar-23 operating profit guidance by more than 30% while leaving sales guidance unchanged. Draw your own conclusions about the reliability of company forecasts.
Sales began to decline in 3Q and the rate of decline is likely to increase in 4Q. There is a large inventory overhang.
The shares dropped 3% today. Wait for capitulation as the reality of recession sinks in.


Kyocera (6971 JP): Massive Downward Revision

Kyocera Corp

Kyocera (6971 JP): Massive Downward Revision