HCM: 4Q Unlikely to Surprise but We Do Not Expect an Earnings Decline Next Year

HCM: Setsumeikai Positive and Earnings Should Grow on Constant Currency Basis

Komatsu: Regional Mining and Construction Trends in Charts

Weak HCM Guidance Causes Jitters but We Expect Another Good Year; Favour Komatsu Temporarily

3Q Should Be In-Line, 4Q Should Beat but We Believe There Is a Few % Downside Risk Tomorrow

Equity Analyst

Gervin Gayan

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Hitachi Construction Machinery / Equity Bottom-Up

<h2><strong>Strategic Overview</strong></h2><p><a href="https://www.smartkarma.com/entities/19433" target="_blank" data-smartkarma-citation="entities:19433:1">Hitachi Construction Machinery (6305 JP)</a> has announced their strategy to start a rental initiative in Europe, starting by targeting the dealer network. The company will offer mid-size machinery to dealers in Europe with medium and long-term rental contracts, while Hitachi will keep the ownership of the rental fleet. Dealers will not need to invest a significant amount of capital to start the rental business and this will encourage dealers to engage with Hitachi’s strategy. Even…</p>

Strategic OverviewHitachi Construction Machinery (6305 JP) has announced their strategy to start a rental initiative in Europe, starting by targeting the dealer network. The company will offer mid-size machinery to dealers in Europe with medium and long-term rental contracts, while Hitachi will keep the ownership of the rental fleet. Dealers will not need to invest a significant amount of capital to start the rental business and this will encourage dealers to engage with Hitachi’s strategy. Even…

Hitachi to Go with Full Supply Chain: Production-Customers-Second Hand Market in Europe