Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<ul><li>Showa is a Honda affiliated maker of hydraulic products (mainly shock absorbers) for automobiles (38%) and motorbikes (28%). It also makes steering systems (30% of sales), mainly electric and mainly (90%) to Honda. In total about 70% of sales are to Honda. A tiny 1% or so of sales are gas springs where it is the only domestic maker and has about 40% of the market. These products are used in the opening and closing mechanism of automobile hoods, tail gates and trucks. The gas reaction in the…</li></ul>

Showa is a Honda affiliated maker of hydraulic products (mainly shock absorbers) for automobiles (38%) and motorbikes (28%). It also makes steering systems (30% of sales), mainly electric and mainly (90%) to Honda. In total about 70% of sales are to Honda. A tiny 1% or so of sales are gas springs where it is the only domestic maker and has about 40% of the market. These products are used in the opening and closing mechanism of automobile hoods, tail gates and trucks. The gas reaction in the…

Showa Corp

Very Oversold Autoparts Maker