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.

Japan Weekly | Tourism Winners and Semicon Losers

Lasertec (6920) | ASML Shrugs off the Tech Recession

Japan Weekly | Lasertec, Muji, Disco, Shimano

Equity Bottom-Up

<ul>
<li>We turn tactically bearish on Lasertec as we expect the stock to dip on weak order guidance</li>
<li>After an exceptionally strong past year, we expect the order outlook to normalise</li>
<li>Risks include weaker macro, Intel capex delays and restrictions on equipment sales in China</li>
</ul>


We turn tactically bearish on Lasertec as we expect the stock to dip on weak order guidance
After an exceptionally strong past year, we expect the order outlook to normalise
Risks include weaker macro, Intel capex delays and restrictions on equipment sales in China


Lasertec Corp

Lasertec (6920) | Mind the Guidance Gap