In today’s briefing:
- IHI (7013 JP): Buy Back in for Post-Crash Recovery
IHI (7013 JP): Buy Back in for Post-Crash Recovery
- 1Q results supported management’s full-year sales and profit guidance, which remains unchanged. Operating profit was up 2.7x YoY on a 17% increase in sales.
- Total new orders received increased by only 4.2% YoY and fell short of sales, but Aerospace & Defense orders were up 35.5% and slightly exceeded sales.
- Our own forecast – above management’s guidance this year with further growth next year – and our share price target are unchanged. 21% potential upside.
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