Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

Nidec (6594 JP): Acquisition of Makino Milling Would Add Value

Nidec (6594 JP): India & Nvidia Point the Way Forward

Nidec (6594 JP): Buy into Current Decline

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

<ul>
<li>Outlook improving with rising demand for energy storage systems and near-line HDDs and water cooling modules for AI servers.</li>
<li>3Q results point to FY sales above and profits in line with management's guidance. Proceeding toward acquisition of Makino Milling next fiscal year.</li>
<li>At 17.5x projected earnings and 10x cash flow, the shares are at the bottom of their 10-year valuation range. Buy for the medium- to long term.</li>
</ul>


Outlook improving with rising demand for energy storage systems and near-line HDDs and water cooling modules for AI servers.
3Q results point to FY sales above and profits in line with management's guidance. Proceeding toward acquisition of Makino Milling next fiscal year.
At 17.5x projected earnings and 10x cash flow, the shares are at the bottom of their 10-year valuation range. Buy for the medium- to long term.


Nidec (6594 JP): Growth Prospects Improving

Nidec Corp

Nidec (6594 JP): Growth Prospects Improving