Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Japanese and Asian equity long/short strategies

Uzabase

Specialising in Japanese and Asian equity long/short strategies with a focus on rigorous, but targeted quantitative analysis to temper evaluations of company strategy, potential and vision. At Uzabase, our team of analysts provides coverage of industry dynamics with a local Asian flavour on Speeda, our financial information platform. Going forward we are aiming to channel our focus toward thematic research on emerging industries and company research.

Equity Bottom-Up

Despite exceptional efficiency, a pristine balance sheet and market leadership across a variety of products, Fanuc may be becoming a victim of its own success. While its Factory Automation (computerised numerical control) segment is extremely profitable, the business saw sales peak in FY2008; its Robomachine business is highly volatile and at a low ebb, with the quality of its products resulting in long replacement cycles which could negatively impact sales; and its Robot segment, while a long-term growth business, generates only a fraction of the OPM of the other two businesses and itself could come under pressure from a weakening auto capex cycle. The company is likely to beat on its extremely conservative guidance and probably on consensus as well, but a strong earnings recovery appears unlikely and further deterioration cannot be discounted.

Despite exceptional efficiency, a pristine balance sheet and market leadership across a variety of products, Fanuc may be becoming a victim of its own success. While its Factory Automation (computerised numerical control) segment is extremely profitable, the business saw sales peak in FY2008; its Robomachine business is highly volatile and at a low ebb, with the quality of its products resulting in long replacement cycles which could negatively impact sales; and its Robot segment, while a long-term growth business, generates only a fraction of the OPM of the other two businesses and itself could come under pressure from a weakening auto capex cycle. The company is likely to beat on its extremely conservative guidance and probably on consensus as well, but a strong earnings recovery appears unlikely and further deterioration cannot be discounted.

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Thematic (Sector/Industry)

In a positive start to the year, spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1,785 for the Rotterdam-New York index (up $4 this week), $2,210 for the Shanghai-Rotterdam index (up $257 this week) and $2,106 for the Shanghai-Los Angeles index (up $545 this week). On the back of…

In a positive start to the year, spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1,785 for the Rotterdam-New York index (up $4 this week), $2,210 for the Shanghai-Rotterdam index (up $257 this week) and $2,106 for the Shanghai-Los Angeles index (up $545 this week). On the back of…

Container Shipping - Spot Rates Touch 20-Month High

Transport Sector, China and Asia-focused Research

Charles De Trenck

Here in brief is what a PM friend had to say during a discussion on 2017 expectations:<blockquote>USD flattens.  EUR goes to parity first.  China no meaningful rebound. Commodity rally is suspect.  ...But doesn't mean it can't continue. Until proven wrong.  Yet, lows have been made in commodities. </blockquote>I agree with him. And despite some big China upgrades I have seen, I am not biting with new China long positions. There are plenty of better China proxies out there, in my view...In bullet format here are a few…

Here in brief is what a PM friend had to say during a discussion on 2017 expectations:USD flattens.  EUR goes to parity first.  China no meaningful rebound. Commodity rally is suspect.  ...But doesn't mean it can't continue. Until proven wrong.  Yet, lows have been made in commodities. I agree with him. And despite some big China upgrades I have seen, I am not biting with new China long positions. There are plenty of better China proxies out there, in my view...In bullet format here are a few…

2017 Dollar/Cyclicals/Shipping/Stocks in Bullets

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

With Korea warped by the Choi Soon Shil scandal, investors are already looking ahead. Although it is yet unclear how the Choi Soon Shil scandal will play out, there is a high probability that the Korean people, with the approval of the National Assembly, may decide to select a new Korean President sometime in 1H17. There are three major candidates that could become the next Korean President, including Moon Jae-In, Ban Ki-Moon, and Lee Jae-Myung. <div class="content-highlight">Currently, we believe that at this point, Moon Jae…</div>

With Korea warped by the Choi Soon Shil scandal, investors are already looking ahead. Although it is yet unclear how the Choi Soon Shil scandal will play out, there is a high probability that the Korean people, with the approval of the National Assembly, may decide to select a new Korean President sometime in 1H17. There are three major candidates that could become the next Korean President, including Moon Jae-In, Ban Ki-Moon, and Lee Jae-Myung. Currently, we believe that at this point, Moon Jae…

Moon Jae In, Ban Ki Moon, Lee Jae Myung - Who Will Become the Next Korean President?

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Foodservice delivery is a hot industry, but nowhere is delivery booming more than in South Korea, a market in which hyper-connectivity, an advanced payment infrastructure, and favourable population demographics have created a perfect storm for exceptional delivery services, as well as the highest demand from consumers of any market globally. By the numbers, the South Korean market is a best-case environment for modern delivery services, and these market drivers are critical in supporting demand.Delivery in South Korea, however, is also a truly unique experience, and the small details that make it so attractive should serve as inspiration for delivery companies and influencers that want to make an impact in markets where there is untapped potential, or for those players in established delivery markets competing for share. From the thoughtful, functional packaging to the easy-to-use delivery apps, the seamless nature of the delivery experience in South Korea offers insight into what global delivery will, or at least should, look like in the near future.

Foodservice delivery is a hot industry, but nowhere is delivery booming more than in South Korea, a market in which hyper-connectivity, an advanced payment infrastructure, and favourable population demographics have created a perfect storm for exceptional delivery services, as well as the highest demand from consumers of any market globally. By the numbers, the South Korean market is a best-case environment for modern delivery services, and these market drivers are critical in supporting demand.Delivery in South Korea, however, is also a truly unique experience, and the small details that make it so attractive should serve as inspiration for delivery companies and influencers that want to make an impact in markets where there is untapped potential, or for those players in established delivery markets competing for share. From the thoughtful, functional packaging to the easy-to-use delivery apps, the seamless nature of the delivery experience in South Korea offers insight into what global delivery will, or at least should, look like in the near future.

The Foodservice Delivery Gold Standard: Market Drivers and Insights from South Korea

Japan

FANUC CORPORATION manufactures factory automation (FA) systems and equipments, and robots. The Company's products include computerized numerically-controlled (CNC) equipment, servo motors, laser systems, industrial robots, wire-cut electric discharge machines, and CNC drill.  Fanuc participates in a joint venture with General Electric in the FA field.

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Fanuc Corp (6954 JP)

Deciphering Fanuc's Challenges

Despite exceptional efficiency, a pristine balance sheet and market leadership across a variety of products, Fanuc may be becoming a victim of its...

Mio Kato

Container Shipping - Spot Rates Touch 20-Month High

In a positive start to the year, spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above...

Drewry Maritime Financial Research

2017 Dollar/Cyclicals/Shipping/Stocks in Bullets

Here in brief is what a PM friend had to say during a discussion on 2017 expectations:USD flattens. EUR goes to parity first. China no meaningful...

Charles De Trenck

Moon Jae In, Ban Ki Moon, Lee Jae Myung - Who Will Become the Next Korean President?

With Korea warped by the Choi Soon Shil scandal, investors are already looking ahead. Although it is yet unclear how the Choi Soon Shil scandal...

Douglas Kim

The Foodservice Delivery Gold Standard: Market Drivers and Insights from South Korea

Foodservice delivery is a hot industry, but nowhere is delivery booming more than in South Korea, a market in which hyper-connectivity, an advanced...

Euromonitor International Ltd.

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