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.

Equity Bottom-Up

<ul>
<li>US tariffs could sharply cut Shimano’s H2 operating profit by up to 57%, despite limited direct exposure, due to opaque supply chains via China and Taiwan.</li>
<li>Valuation would look stretched at 25x EV/EBIT versus historical 20x, if earnings fall short of current guidance.</li>
<li>Shimano’s ¥530bn net cash pile offers room to boost shareholder returns through buybacks or dividends.</li>
</ul>


US tariffs could sharply cut Shimano’s H2 operating profit by up to 57%, despite limited direct exposure, due to opaque supply chains via China and Taiwan.
Valuation would look stretched at 25x EV/EBIT versus historical 20x, if earnings fall short of current guidance.
Shimano’s ¥530bn net cash pile offers room to boost shareholder returns through buybacks or dividends.


Shimano Inc

Shimano (7309) | Gears Grinding