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.

Omron (6645) | Long-Term View Unchanged but Bumpy Ride

Omron (6645) | Key Beneficiary of Industry 4.0

Equity Bottom-Up

<ul>
<li>We expected the market to react positively to the Q3 beat. There are clouds on the order horizon, but that is well-known</li>
<li>A big management shuffle was also announced. We think the new CEO and CFO will follow the same LT Vision, but need to do more to meet rising capital costs</li>
<li>Our core bullish thesis rests on growth in Industrial Automation.  As expectations for interest rate hikes fade, we think investors will start to price in a 2023/4 order recovery</li>
</ul>


We expected the market to react positively to the Q3 beat. There are clouds on the order horizon, but that is well-known
A big management shuffle was also announced. We think the new CEO and CFO will follow the same LT Vision, but need to do more to meet rising capital costs
Our core bullish thesis rests on growth in Industrial Automation.  As expectations for interest rate hikes fade, we think investors will start to price in a 2023/4 order recovery


Omron (6645) | Q3 Beat, New Management Team

Omron Corp

Omron (6645) | Q3 Beat, New Management Team