Sumco: 2QFY12/18 Results Stronger Than Expected

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Equity Analyst, LightStream Research

Farha Sabri

Equity Analyst

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

<p>SUMCO reported its 1QFY12/18 results yesterday. Despite performing a touch weaker than its own estimate, the company continued to achieve top-line growth similar to the last few quarters. The company’s top-line grew by 28.5% YoY to reach JPY77.2bn in 1QFY12/18. This was a touch lower than the 31.4% YoY top-line growth the company called for in its estimates. Our own estimates were slightly more conservative with our estimates calling for 26% YoY growth in 1QFY12/18.</p><p>Meanwhile, the company’s OP…</p>

SUMCO reported its 1QFY12/18 results yesterday. Despite performing a touch weaker than its own estimate, the company continued to achieve top-line growth similar to the last few quarters. The company’s top-line grew by 28.5% YoY to reach JPY77.2bn in 1QFY12/18. This was a touch lower than the 31.4% YoY top-line growth the company called for in its estimates. Our own estimates were slightly more conservative with our estimates calling for 26% YoY growth in 1QFY12/18.Meanwhile, the company’s OP…

SUMCO Continues Growth Trajectory Recording Strong Financial Performance in 1QFY12/18

SUMCO Corp

SUMCO Continues Growth Trajectory Recording Strong Financial Performance in 1QFY12/18