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>Fanuc returns to revenue growth, driven by robomachine demand in Asia, but core robot sales remain weak after last year’s EV-driven surge.</li>
<li>Management offered no guidance for FY3/26, citing tariff and FX uncertainty; we cut forecasts, with downside risk still looming large.</li>
<li>A ¥50bn buyback provides limited support, but shares may stay stuck until global capex trends and trade policy clarify.</li>
</ul>


Fanuc returns to revenue growth, driven by robomachine demand in Asia, but core robot sales remain weak after last year’s EV-driven surge.
Management offered no guidance for FY3/26, citing tariff and FX uncertainty; we cut forecasts, with downside risk still looming large.
A ¥50bn buyback provides limited support, but shares may stay stuck until global capex trends and trade policy clarify.


Fanuc (6954) | 성장이 깜빡이고 가시성이 흐려짐

Fanuc Corp

Fanuc (6954) | 성장이 깜빡이고 가시성이 흐려짐