Canon (7751) - Lessons From Sony Restructuring

Canon (7751): The Nikkei Provides Punchy Numbers

Raising Canon's FVE to JPY 3,700, but Upside Is Limited, as Margin Expansion Is Unsustainable

Japan Earnings - Thumbnail Preview of Those Reporting Early

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

<p>Generally, and with good reason, Nikkei earnings previews are treated as gospel rather than speculation, so it was a little surprising that following its announcement that <a href="https://www.smartkarma.com/entities/1" target="_blank" data-smartkarma-citation="entities:1:1">Canon Inc (7751 JP)</a> may have generated ¥80bil in 1Q FY17 (Dec) OP, almost double last year’s 1Q performance, the shares in the imaging giant didn’t respond more, rising just 2.6% in the wake of the news.</p><p>The last time Canon made ¥80bil in the 1Q in 2014 – and before that in 2012 – so although today’s Nikkei report on this…</p>

Generally, and with good reason, Nikkei earnings previews are treated as gospel rather than speculation, so it was a little surprising that following its announcement that Canon Inc (7751 JP) may have generated ¥80bil in 1Q FY17 (Dec) OP, almost double last year’s 1Q performance, the shares in the imaging giant didn’t respond more, rising just 2.6% in the wake of the news.The last time Canon made ¥80bil in the 1Q in 2014 – and before that in 2012 – so although today’s Nikkei report on this…

Assuming Canon Did Make ¥80bil in 1Q FY17, Is It Sustainable?