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

Nidec (6594 JP): Robot Gear Expansion to Put Pressure on HDS (6324 JP)

Nidec – Weakness Should Be Understood but Downside Risk at Earnings Remains

Nidec – Small Precision Motors and Automotive Concerning

Nidec (6594 JP): HDD & EV Motors Drag Down Profit Margins

Nidec – Machinery and Appliance, Commercial and Industry Segments Rolling Over

Gravity Works As WeWork Doesn't; Now Plan B

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>Operating profit declined in 3Q despite a 15% YoY increase in sales. FY Mar-22 profit guidance now looks too high. </li>
<li>The Automotive division is suffering from the semiconductor shortage, high materials prices and the cost of ramping up EV motor production - which is scheduled to continue until 2025.</li>
<li>But the share price has dropped 31% since the beginning of January. Long-term investors may now choose when to buy in.</li>
</ul>


Operating profit declined in 3Q despite a 15% YoY increase in sales. FY Mar-22 profit guidance now looks too high. 
The Automotive division is suffering from the semiconductor shortage, high materials prices and the cost of ramping up EV motor production - which is scheduled to continue until 2025.
But the share price has dropped 31% since the beginning of January. Long-term investors may now choose when to buy in.


Nidec Corp

Nidec (6594): Catch a Falling Knife