Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Equity Bottom-Up

<ul>
<li>2QFY2/27 OP of ¥13.6bn beat our ¥12.9bn on Robotics and System Engineering; revenue of ¥146.6bn missed by 2% as servo supply capped Motion Control.</li>
<li>Orders hit a record ¥185.4bn (+38% YoY), 10% above our forecast. FY2/27 OP guidance of ¥57.5bn sits in line with consensus.</li>
<li>We lift FY2/27–28 OP to ¥60.4bn / ¥81.6bn (+4–5%); DCF ¥6,007 (+26%). We remain bullish.</li>
</ul>


2QFY2/27 OP of ¥13.6bn beat our ¥12.9bn on Robotics and System Engineering; revenue of ¥146.6bn missed by 2% as servo supply capped Motion Control.
Orders hit a record ¥185.4bn (+38% YoY), 10% above our forecast. FY2/27 OP guidance of ¥57.5bn sits in line with consensus.
We lift FY2/27–28 OP to ¥60.4bn / ¥81.6bn (+4–5%); DCF ¥6,007 (+26%). We remain bullish.


Yaskawa (6506 JP) | Q2 Review: Orders Run Ahead

Yaskawa Electric

Yaskawa (6506 JP) | Q2 Review: Orders Run Ahead