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

Yokogawa Electric (6841 JP): Carbon-Neutral Industrial Park & Green Hydrogen

Yokogawa Electric (6841 JP): A Less Risky Investment in LNG Engineering

Yokogawa Electric 6841 JP): Weak Share Price & Rebounding Oil Prices Create Opportunity

Chiyoda – COVID Uncertainty Continues to Dog Qatar Order

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>Strong 1H orders and the second upward revision to guidance this fiscal year have lifted the share price to a new high.</li>
<li>The energy shortage and high energy prices should continue to drive demand for Yokogawa's oil, gas and power related industrial control equipment. Demand from other users is also rising.</li>
<li>Valuations suggest 15% to 20% additional upside potential for the share price. Recession or a strengthening of the yen could put this at risk, so watch the order flow.</li>
</ul>


Strong 1H orders and the second upward revision to guidance this fiscal year have lifted the share price to a new high.
The energy shortage and high energy prices should continue to drive demand for Yokogawa's oil, gas and power related industrial control equipment. Demand from other users is also rising.
Valuations suggest 15% to 20% additional upside potential for the share price. Recession or a strengthening of the yen could put this at risk, so watch the order flow.


Yokogawa Electric (6841 JP): High Energy Prices Point to Further Upside