Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

Japan Aviation Electronics / Equity Bottom-Up

JAE is the 7th largest connector maker in the world with a 3% market share. The market is dominated by American makers. For certain types of connectors its market share is higher. It ranks 4th for automobile and communication equipment (including smartphone) related connectors. Together these account for 80% of its sales. The connector market is growing on average by about 4/5% per annum. Its markets are growing at a faster pace (generally). There is on-going annual pricing pressure in the…

JAE is the 7th largest connector maker in the world with a 3% market share. The market is dominated by American makers. For certain types of connectors its market share is higher. It ranks 4th for automobile and communication equipment (including smartphone) related connectors. Together these account for 80% of its sales. The connector market is growing on average by about 4/5% per annum. Its markets are growing at a faster pace (generally). There is on-going annual pricing pressure in the…

Cheap and We Expect a Decent Bounce in Earnings Next Year.