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

Rohm (6963 JP): Probably Won't Buy Toshiba's Electronic Devices Business

Gravity Works As WeWork Doesn't; Now Plan B

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>FY Mar-22 sales and profits were well ahead of guidance. Management is forecasting further growth this year, but mostly in 1H.</li>
<li>Margins are under pressure from rising production costs and depreciation, but cash flow and the balance sheet are strong.</li>
<li>Gearing to vehicle electrification and should provide protection on the downside and support long-term growth. </li>
</ul>


FY Mar-22 sales and profits were well ahead of guidance. Management is forecasting further growth this year, but mostly in 1H.
Margins are under pressure from rising production costs and depreciation, but cash flow and the balance sheet are strong.
Gearing to vehicle electrification and should provide protection on the downside and support long-term growth. 


Rohm (6963 JP): Short-Term Caution, Long-Term Buy

ROHM Co Ltd

Rohm (6963 JP): Short-Term Caution, Long-Term Buy