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

Topcon (7732 JP): Ready for the Fourth Industrial Revolution

Equity Bottom-Up

<p>FY Mar-17 consolidated sales and operating profit exceeded management's guidance and our own estimates due to strong demand for the company's Smart Infrastructure (surveying, 3D laser scanning &amp; mapping) and Positioning (GNSS receivers, machine control, precision agriculture) equipment. Sales were down 1.8% to ¥128.3 billion (vs. ¥125 billion guidance and our ¥128 billion estimate) and operating profit up 8.5% to ¥9.6 billion (vs. ¥9.5 billion guidance and our ¥9.3 billion estimate). Net profit…</p>

FY Mar-17 consolidated sales and operating profit exceeded management's guidance and our own estimates due to strong demand for the company's Smart Infrastructure (surveying, 3D laser scanning &amp; mapping) and Positioning (GNSS receivers, machine control, precision agriculture) equipment. Sales were down 1.8% to ¥128.3 billion (vs. ¥125 billion guidance and our ¥128 billion estimate) and operating profit up 8.5% to ¥9.6 billion (vs. ¥9.5 billion guidance and our ¥9.3 billion estimate). Net profit…

Topcon (7732 JP) - Smart Infrastructure & Positioning Drive Sales & Operating Profit

Topcon Corp

Topcon (7732 JP) - Smart Infrastructure & Positioning Drive Sales & Operating Profit