Borb - Japan Update
VERY FAVOURABLE DEVELOPMENTS in 2 of my stocks happened..
New Japan Radio NJR - Ticker 6911.J - 865 Yen
Price/Sales .. 0.67, Price/Book .. 1.70, EPS 2002 .. 17 Yen (FY2002 ending March 31st), guidance EPS 2003 .. 54 Yen (raised from 28 Yen), guidance EPS 2004 .. 69 yen. Valuation PSR is very low, forward PE 2003 is 16. Not high for a major analog semi (compare it to FCS and NSM)
Another STRONG BUY coverage initiation today. Now we got 5 brokerages with a "STRONG BUY" and one with a "BUY" rating biz.yahoo.co.jp
This maker of linear, mixed signal and microwave ICs, including compound semiconductos and power semi capabilities seems to be a major beneficiary of the current CE equipment boom. NJR is the global leader in opAmps.
njr.co.jp
Shimadzu Corp - Ticker 7701.J - 372 Yen
Valuation : right now at PSR 0.48, GM 32.5%, Price/Book 1.12 - this is very low for such a profitable high tech operation.. biz.yahoo.co.jp
The company completed a tough restructuring according to its midterm management plan this year, where restructuring induced losses plus softness in Aerospace after September 11th amounted to 30 Yen/share. At the same time, the forecast for FY2003 was raised from breakeven to a profit of 8 Yen and for FY2004 to 14 Yen. Today the 2 covering brokers each raised its rating on Shimadzu a notch: one now is ranking the firm as BUY the other one as HOLD. That'S up materially from the SELL/HOLD we had before..
Shimadzu is one of the biggest global players in analytical instruments, spectrometers, medical equipment, lab equipment for biotech, defence and scientific industry. It also has a key division manufacturing semiconductor equipment. shimadzu is renowned for its laser capabilities. Yet another division is adressing the needs of aerospace and defence precision engineered market with precision engineering parts. The firm also makes T&M equipment for semiconductor fabs (metrology), CT scan equipment, proteomic analyzers, gene squencers, HPLC Analysers, LCD equipment, Scanning tunnel microscopes, chormatography equipment, Industrial LAsers etc..
best rgrds
CROSSY |
