Euphoric Loop

EUPHORIC LOOP – Earnings Report of Yasakawa Electric (6506 JP) – April 21st 2015

Company: Yaskawa Electric (6506 JP) Event: FY15 Results QMG product view: POSITIVE (JA33.3 Industrial process control apparatus) Highlights: • Revenue: JPY400bn – in line with consensus estimates (Toyo Keizai) and +10% yoy • Operating profit: JPY31.5bn – in line with consensus estimates (Toyo Keizai) and +22.7% yoy • Operating margin: +81bps to 7.88% (in line with consensus/corporate guidance) • 2016… Read more →

The Euphoric Loop – 25th February 2015

THE BOSTON BEER CO (SAM US) – Q4/FY 2014 BELOW CONSENSUS ESTIMATES, SHARES -13% We added SHORT SAM to our US Focus List (Link – Q1 Focus List Update) on 1/1/15. At that time, our data across the US Brewers (US15.96) was showing a substantial decline in volumes (-2.9%), implying a much more challenging Q4 sales environment than appeared in… Read more →

The Euphoric Loop – 20th February 2015

FANUC (6954 JP) +15.4% YTD – QMG REMAINS POSITIVE ON JAPANESE ROBOTICS SECTOR (JA33.3) WITH FURTHER UPSIDE POTENTIAL FANUC (6954 JP) +15.4% YTD – QMG REMAINS POSITIVE ON JAPANESE ROBOTICS SECTOR (JA33.3) WITH FURTHER UPSIDE POTENTIAL QMG added LONG Fanuc to our Japanese Focus List (Link – The Japanese riddle – to buy or not to buy?) on 19/11/14. Despite… Read more →