Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>Established in 1907, this is Japan’s largest maker of fire engines with 58% of the market. It has a 90% share in ladder trucks. Fire engines account for 63% of sales. The company also makes fire protection equipment, mainly extinguishers (22%), recycling machines (5%) and environmental machines, including sewage vacuum trucks (12%). In January 2016 it acquired Bronto Skylift of Finland for Y10bn. This produces aerial platforms that can extend 100m. At the time, Bronto had revenue of c 100m Euro…</p>

Established in 1907, this is Japan’s largest maker of fire engines with 58% of the market. It has a 90% share in ladder trucks. Fire engines account for 63% of sales. The company also makes fire protection equipment, mainly extinguishers (22%), recycling machines (5%) and environmental machines, including sewage vacuum trucks (12%). In January 2016 it acquired Bronto Skylift of Finland for Y10bn. This produces aerial platforms that can extend 100m. At the time, Bronto had revenue of c 100m Euro…

Morita (6455) Near Term Limited Upside, All in the Price for Now

Morita Holdings

Morita (6455) Near Term Limited Upside, All in the Price for Now