Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Equity Bottom-Up

<ul>
<li>Q1’23 revenues of ¥558.2 billion, up 19% sequentially and up 1% YoY</li>
<li>FY24 outlook down 23% YoY with H2 showing a modest improvement compared to H1</li>
<li>R&amp;D &amp; CapEx investment increasing significantly while YoY revenue set to decline by 23%</li>
</ul>


Q1’23 revenues of ¥558.2 billion, up 19% sequentially and up 1% YoY
FY24 outlook down 23% YoY with H2 showing a modest improvement compared to H1
R&amp;D &amp; CapEx investment increasing significantly while YoY revenue set to decline by 23%


Tokyo Electron. Betting Big On MAGIC Despite The Downturn

Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tokyo-electron-ltd" target="_blank" data-smartkarma-citation="entities:280:1" rel="noopener">Tokyo Electron (8035 JP)</a> is a global manufacturer of semiconductor production equipment (SPE).</li>
<li>In FY03/23, the company posted revenue of JPY2.2tn, operating profit of JPY617.7bn, recurring profit of JPY625.2bn, and net income attributable to owners of the parent of JPY471.6bn.</li>
<li>Tokyo Electron Limited announced revisions to its full-year earnings forecast for FY03/24.</li>
</ul>



Tokyo Electron (8035 JP) is a global manufacturer of semiconductor production equipment (SPE).
In FY03/23, the company posted revenue of JPY2.2tn, operating profit of JPY617.7bn, recurring profit of JPY625.2bn, and net income attributable to owners of the parent of JPY471.6bn.
Tokyo Electron Limited announced revisions to its full-year earnings forecast for FY03/24.


Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Sentiment for AI related rising with NVDA de-risked and outlook strong, despite the marginal beat.</li>
<li>Kioxia IPO pricing at $4.84bn supportive for memory ecosystem names.</li>
<li>Deere numbers and outlook for farming lifting AG machinery names - watch Kubota.</li>
</ul>


Sentiment for AI related rising with NVDA de-risked and outlook strong, despite the marginal beat.
Kioxia IPO pricing at $4.84bn supportive for memory ecosystem names.
Deere numbers and outlook for farming lifting AG machinery names - watch Kubota.


Japan Morning Connection: Risk-On for the AI Ecosystem

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> has been trading sideways between 35,000 and 40,000 for the past eleven weeks.</li>
<li>A short straddle allows investors who believe that the Nikkei 225 continues to trade sideways to earn a profit of up to 7% in six weeks.</li>
<li>This Insight presents the strategy rationale, profit and loss profile, back-testing and risk management measures. </li>
</ul>


The Nikkei 225 (NKY INDEX) has been trading sideways between 35,000 and 40,000 for the past eleven weeks.
A short straddle allows investors who believe that the Nikkei 225 continues to trade sideways to earn a profit of up to 7% in six weeks.
This Insight presents the strategy rationale, profit and loss profile, back-testing and risk management measures. 


EQD | Nikkei 225 Option Opportunity – Earn Premium in Sideways Markets with Straddles

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

<ul>
<li>August's WSTS semiconductor revenues registered a record high of more than $53 billion</li>
<li>Nobody seemed to notice, including the organization making the announcement</li>
<li>There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales</li>
</ul>


August's WSTS semiconductor revenues registered a record high of more than $53 billion
Nobody seemed to notice, including the organization making the announcement
There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales


Semis Just Broke a Record.  Why Did Nobody Notice?

Japan

Tokyo Electron Limited manufactures and sells industrial electronics products, such as semiconductor manufacturing machines, computer system, and electronic components.  The Company products are sold in US, Taiwan, and others as well as in Japan.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tokyo Electron (8035 JP)

Tokyo Electron. Betting Big On MAGIC Despite The Downturn

Q1’23 revenues of ¥558.2 billion, up 19% sequentially and up 1% YoY. FY24 outlook down 23% YoY with H2 marginally better than H1.R&D & CapEx...

William Keating

Tokyo Electron (8035): Q3 FY03/24 Update

Tokyo Electron is a global manufacturer of semiconductor production equipment, with strong financial performance in FY03/23 and revised earnings...

Shared Research

Japan Morning Connection: Risk-On for the AI Ecosystem

AI sentiment rising with NVDA de-risked, Kioxia IPO positive for memory ecosystem names, Deere's positive outlook lifts AG machinery names like...

Andrew Jackson

EQD | Nikkei 225 Option Opportunity – Earn Premium in Sideways Markets with Straddles

Investors can earn a premium by using a short straddle strategy on the Nikkei 225, which has been trading sideways for the past eleven weeks.

Gaudenz Schneider

Semis Just Broke a Record. Why Did Nobody Notice?

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tokyo Electron. Betting Big On MAGIC Despite The Downturn

Q1’23 revenues of ¥558.2 billion, up 19% sequentially and up 1% YoY. FY24 outlook down 23% YoY with H2 marginally better than H1.R&D & CapEx...

William Keating

Tokyo Electron (8035): Q3 FY03/24 Update

​Tokyo Electron is a global manufacturer of semiconductor production equipment, with strong financial performance in FY03/23 and revised earnings...

Shared Research

Japan Morning Connection: Risk-On for the AI Ecosystem

​AI sentiment rising with NVDA de-risked, Kioxia IPO positive for memory ecosystem names, Deere's positive outlook lifts AG machinery names like...

Andrew Jackson

EQD | Nikkei 225 Option Opportunity – Earn Premium in Sideways Markets with Straddles

​Investors can earn a premium by using a short straddle strategy on the Nikkei 225, which has been trading sideways for the past eleven weeks.

Gaudenz Schneider

Semis Just Broke a Record. Why Did Nobody Notice?

​August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

Tokyo Electron is a global manufacturer of semiconductor production equipment, with strong financial performance in FY03/23 and revised earnings...

AI sentiment rising with NVDA de-risked, Kioxia IPO positive for memory ecosystem names, Deere's positive outlook lifts AG machinery names like...

Investors can earn a premium by using a short straddle strategy on the Nikkei 225, which has been trading sideways for the past eleven weeks.

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...