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.

Ohayo Japan |BIG TECH BACK ! NUGGET: Nidec Succession Headaches-Resolution in Sight But...

Nidec (6594) | Big Revision Down to E-Axle Sales

Japan Weekly | Nidec, Fast Retailing, BayCurrent

Gravity Works As WeWork Doesn't; Now Plan B

Equity Bottom-Up

<ul>
<li>NIdec's full year FY3/23 operating profit declined 41% to Y100b, far short of analyst estimates</li>
<li>However, FY3/24 corporate guidance for Y220b in operating profit is very bullish and assumes a V-shaped recovery in margins</li>
<li>Given the macro outlook and lack of clarity on the restructuring charges, we prefer to remain cautious. </li>
</ul>


NIdec's full year FY3/23 operating profit declined 41% to Y100b, far short of analyst estimates
However, FY3/24 corporate guidance for Y220b in operating profit is very bullish and assumes a V-shaped recovery in margins
Given the macro outlook and lack of clarity on the restructuring charges, we prefer to remain cautious. 


Nidec (6594) | Remain Cautious Despite Bullish Guidance

Nidec Corp

Nidec (6594) | Remain Cautious Despite Bullish Guidance