Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Fanuc (6954) | Q2 Profit Boost Masked by One-Time Gains

Fanuc (6954) | Improved Orders and Margins Amid Long-Term Challenges

Fanuc (6954) | Profitability Problems Persist

Equity Bottom-Up

<ul>
<li>Consolidated net sales slipped 0.4% to ¥197 billion, while operating income slipped 14.6%, hitting ¥34.9 billion</li>
<li>The yen’s Q3 weakness erased ¥11 billion in unrealised inventory profits, dragging reported operating profit below expectations</li>
<li>Recovery in order book is key positive. However, given the stock's outperformance over the past 3 months, there is less upside. </li>
</ul>


Consolidated net sales slipped 0.4% to ¥197 billion, while operating income slipped 14.6%, hitting ¥34.9 billion
The yen’s Q3 weakness erased ¥11 billion in unrealised inventory profits, dragging reported operating profit below expectations
Recovery in order book is key positive. However, given the stock's outperformance over the past 3 months, there is less upside. 


Fanuc Corp

Fanuc (6594) | Robots in Reverse