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Industrial Look: Eye on Japan's Imaging Companies with High Yield

By: GuruFocus
Posted: 9/14/2013 7:57:00 PM
Referenced Stocks: CAJ;NINOF;NINOY

In the 80s and 90s, it seemed everyone had to own a prized Nikon camera. The digital revolution came along and obliterated much of the demand for film and dark rooms. Then camera technology became universal in smart phones, yet again reorganizing the demand for cameras and how we capture images. Moreover, advances to digital imaging technology translated well beyond cameras to copiers, printers, scanners, microscopes, telescopes and other precision instruments.

Here's a look at two long-established Japanese camera and imaging equipment companies in a 52-week low. The companies selected are more than 20% off a 52-week high.

Industry Sector: Industrial Products - Business Equipment

The industrial products sector currently has 15 companies out of 239 on a 52-week low. The low ratio is 0.06.

Canon Inc. ( CAJ )

Down 9% over 12 months, Canon Inc. has a market cap of $36.95 billion, and trades with a P/B of 1.40.

The current share price is around $32.05, or 21.7% off the 52-week high of $40.94. The yield is 4.03%.

Canon Inc. was incorporated under the laws of Japan in 1937. The company manufactures office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. It operates in three business segments: office business, imaging system business, industry and other business.

The company reported financial results for the three months ended June 30, 2013 with net sales of $966,880 (millions of yen), compared to $899,205 in the same period a year ago, reflecting an increase of 7.5%. Operating profit for the quarter was $98,354 (millions of yen), compared to $92,596 in the same period a year ago. Net income is $66,496 (millions of yen) compared to a year ago at $51,714. (Note: 1 Japanese ten currently equals 0.010 US Dollar.)

Guru Action: As of June 30, 2013, there are six guru stakeholders .

The top Guru stakeholder is Charles Brandes who reduced his position by 1.67%, selling 37,819 shares at an average price of $35.33 per share, making a loss of 9.3%. He currently holds 2,222,128 shares or 0.19% of shares outstanding.

In five years of holding, he has averaged a loss of 2% on 6,120,506 shares bought at an average price of $32.68 per share. He has averaged a loss of 28% on 3,898,468 shares sold at an average price of $44.26 per share.

Steven Cohen sold out his holding.as of June 30, 2013, selling 7,716 shares at an average price of $35.33 for a loss of 9.3%. In eleven quarters, the holding consistently lost in every quarter.

Track share pricing, revenue and net income:





Nikon: ( NINOY ) ( NINOF )

Down 43 % over 12 months, Nikon ( NINOY ) has a market cap of $6.58 billion, and trades with a P/E of 21.00.

The current Nikon company shares traded in the US are priced as follows: NINOY shares are selling at around $16.60, or 46.3% off the 52-week high of $30.94, with a yield of 6.98%. Nikon's NINOF share price is around $16.42, or 45.5% off the 52-week high of $30.12, with a yield of 1.49%.

On the Tokyo Stock Exchange, Nikon is traded as TSE: 7731.

Founded in Tokyo in 1917, Nikon manufactures and sells visual imaging, optical and video equipment, operating in four business segments: precision equipment, imaging products, instruments, and other. The company utilizes advanced technology for consumer and industrial products and equipment. Nikon is a company in the Mitsubishi Group.

The company reported financial results for the three months ended June 30, 2013 with net sales of $238,981 (millions of yen), compared to $259,431 in the same period a year ago. Gross profit for the quarter was $83,125 (millions of yen), compared to $96,975 in the same period a year ago. Net income is $4,436 (millions of yen) compared to a year ago at $15,770. (Note: 1 Japanese ten currently equals 0.010 US Dollar.)

Last week Nikon Inc. released a new advanced technology, high definition camera called the COOLPIX P7800 to capture video and images.

Guru Action: There are no current US Guru stakeholders to report. To access Nikon Inc. in Japan, try a GuruFocus Global Premium Membership.

Tracking NINOY share pricing, revenue and net income:



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