6814 Furuno Electric
- Japan Guru
- Aug 23, 2025
- 1 min read
A global leader in marine electronic equipment such as fish finders and electronic charts. Strengthening its GPS and medical equipment businesses, leveraging its wireless technology as its core.
Nomura initiates coverage on Furuno with Buy rating, targeting 6300 yen/share
"Furuno's profit structure has improved significantly in recent years, benefiting from an increase in the number of new ships completed, and the contribution of highly profitable maintenance services will also increase as the number of ships equipped with Furuno Electric's products increases.
In addition to the renewal of ships aged 20 to 30 years, the number of new ships completed would reach new high around 2030 due to increased demand for greenhouse gas-efficient ships."
https://www.nikkei.com/article/DGXZQOFL193Z60Z10C25A8000000/
https://youtu.be/ItGO3xOz6VQ?t=509
at 5190 yen/share, 165.5 bil yen mkt cap vs 44 bil yen net cash
18.2x per / 2.26x pbr / 2.12% yield