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>One of the punchier forecasts to have appeared in the last Japanese earnings season were those for <a href="https://www.smartkarma.com/entities/283" target="_blank" data-smartkarma-citation="entities:283:1">Applied Materials Inc (AMAT US)</a> supply chain name <a href="https://www.smartkarma.com/entities/4950" target="_blank" data-smartkarma-citation="entities:4950:1">Ferrotec Corp (6890 JP)</a> and it may be worth considering whether it can repeat the performance this time round. Following a 41% YoY gain in OP to ¥5.7bil in FY16, management is forecasting another 27% gain, this year, to ¥7.2bil. We suspect that this figure is going to end up being conservative, but even if it isn't, with enterprise value at just…</p>

One of the punchier forecasts to have appeared in the last Japanese earnings season were those for Applied Materials Inc (AMAT US) supply chain name Ferrotec Corp (6890 JP) and it may be worth considering whether it can repeat the performance this time round. Following a 41% YoY gain in OP to ¥5.7bil in FY16, management is forecasting another 27% gain, this year, to ¥7.2bil. We suspect that this figure is going to end up being conservative, but even if it isn't, with enterprise value at just…

Ferrotec (6890 JP) - Exciting Late Cycle AMAT Supplier