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.

Good Morning Japan |RETREAT ! SPX Fails at 4100 (Again) Ahead of Fed; Calls for More Activists in JP

NEC (6701) | Significantly Undervalued with Upcoming Catalyst

Equity Bottom-Up

<ul>
<li>NEC's buyback announcement sends a clear message that the MTP is on track and management feel the stock is undervalued</li>
<li>The recent IR DAY increased our conviction in the financial model. We were impressed with the improving pipeline of Open RAN customers</li>
<li>The stock is significantly undervalued, trading below book value, with improving ROE</li>
</ul>


NEC's buyback announcement sends a clear message that the MTP is on track and management feel the stock is undervalued
The recent IR DAY increased our conviction in the financial model. We were impressed with the improving pipeline of Open RAN customers
The stock is significantly undervalued, trading below book value, with improving ROE


NEC Corp

NEC (6701) | Even Higher Conviction