In today’s briefing:
- Yaskawa – Increasingly Positive on Robotics but Still Too Early… Except…
- Base Inc: Down, But Not Down Enough
- Japan’s Governance: Tsubaki Nakashima (6464) FY12/2021 Financial Results Analyst Meeting
Yaskawa – Increasingly Positive on Robotics but Still Too Early… Except…
- We spoke to Yaskawa today to understand recent trends and the detailed outlook on demand going forward.
- There were no major surprises with the company still relatively positive on demand remaining strong across the board though only robots seem to offer strong growth potential.
- Profitability for robots should also improve going forward creating a nice story, but valuations are still too dear.
Base Inc: Down, But Not Down Enough
- Both management and consensus seem to think that BASE Inc (4477 JP) will be able to maintain the COVID-19 growth trajectory beyond the COVID affected years.
- However, investors seem more circumspect with shares currently trading around 90% below the peak level.
- With the company likely failing to meet revenue targets and losses expanding exponentially, we think Base Inc could fall another 25-30% towards the pre-COVID level.
Japan’s Governance: Tsubaki Nakashima (6464) FY12/2021 Financial Results Analyst Meeting
- This article will update on Tsubaki Nakashima, which I focused on in my previous article, as I attended the analyst meeting for its financial results for FY12/2021.
- A temporary issue with quality and inventory management in 4Q resulted in missed profits in FY12/2021, but the company resolved the issue early and it will not affect FY12/2022.
- As the demand for high-margin ceramic balls accelerates in line with the shift to high-power EVs, it is only a matter of time before it regains the confidence from investors,.
Before it’s here, it’s on Smartkarma
