For the record: JAPAN UPDATE
Japan doing really well..
Nikkei up 2%+ to 11.900+
And most of the stocks I highlighted on the roll..
NJR New Japan radio (6911.J) njr.co.jp
reached my first level target of 700 Yen (up 11%) today, currently at 705 Yen (entry at 415 Yen). I followed the trading action closely today and found that there's at least one buyer absorbing literally ALL the small selling trades that happened thru the day.. I'm increasing my first level target to 900 and my second level target to 1200 Yen based on valuation (PSR .. 0.43) and 2 upgrades that recently occured from Japanese Brokerages: biz.yahoo.co.jp. While I can't read Japanese it's easy to figure that there has been an upgrade.. This is a smallercap stock on the second Tokyo section. Typical trade volume is 50-200k per day..
Company is a maker of linear and microwave ICs, power semis and motor controller logic. One of the FEW REAL PURE PLAYS in the semi field trading in Tokyo. This is currently my core (and only) Japanese holding
Hitachi Cable (5812.J) hitachi-cable.co.jp
Jumped today 8% to 650 Yen (Reviewed artound 530 Yen). 42% cable (mostly fiberoptics), 26% Semi products (compound semi comp), 13% copper products, 15% equipment
This is one of the biggest worldwide producers of compound semi wafers (InGaP, InP, GaAs etc.). Plus they make fiberoptic preforms and cable, plus many passive and active optical devices. This stock should do very well when telecom chip demand surges in the future. Competitor to EMKR, KOPN and ATMI in the US. A tad more expensively valued than other beaten down Japanese stocks.. PSR at 0.69 now. 11 Brokerages say hold, 2 say sell.. Wait..
FDK Corp (6955.J) fdk.co.jp right now at 360 Yen (reviewed at 260 Yen)
Maker of batteries, discrete power components (semi and passive), passive optical components. PSR of 0.25 is still low but telecom demand and especially passive optical components a rather clouded issue. 1 Broker has a Sell rating on FDK. This stock might get interesting in the future because it is making "OPTICAL ETHERNET" a core theme for future strategic actions. Stay tuned..
ANDO Electric Corp (6847.J) ando.co.jp
Maker of photonic and fiberoptic Test & Measurement Equipment plus Semiconductor Equipment. Trading at 655 Yen now, reviewed at 310 Yen. Unfortunately I sold my holding prematurely.. This very able company (from an engineering sense) is still valued at a PSR of 0.33. This is still cheap IMHO.
SHIBAURA Mechatronics (6590.J) shibaura.co.jp
Maker of semiconductor and select life science equipment. Active in CMP, Backend (Bonders), Cleaning, etching (RIE), Disk Sputtering (CVD) and LCD production equipment. A competitor of KLIC in the US (bonders) aside others. PSR is 0.28. |
