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    Takayuki Naito

    senior analyst at Citigroup Securities

    Takayuki Naito is a senior analyst at Citigroup Global Markets Japan Inc., specializing in equity research with a focus on Japanese technology and electronics companies. He covers prominent firms such as TDK Corporation, Nidec Corp, and Nan Ya, providing strategic insights and investment recommendations that have contributed to notable market calls. Recognized for his sector expertise, Naito has participated actively in earnings calls and industry analysis, though specific performance metrics such as TipRanks rankings or explicit success rates are not publicly available. His career at Citigroup builds on substantial industry experience and formal registration with Japan's FSA, but public records do not confirm FINRA or US securities licenses.

    Takayuki Naito's questions to NIDEC (NJDCY) leadership

    Takayuki Naito's questions to NIDEC (NJDCY) leadership • Q1 2025

    Question

    Takayuki Naito of Citigroup Securities questioned the specifics of the upward revision to the full-year forecast, asking for a breakdown of the JPY 15 billion first-half increase and the rationale for a seemingly conservative second half. He also asked if the cooling business forecast was intentionally conservative. His second question focused on the long-term strategy, inquiring about the operating profit margin targets for the five new business pillars by 2030 and whether a 15% margin was considered achievable across all of them.

    Answer

    Executive Akinobu Samura explained that the Q1 operating profit of JPY 60 billion significantly beat the JPY 45 billion target, with JPY 10.1 billion from a one-time accounting gain on the NPe consolidation. This outperformance drove the upward revision. CEO Mitsuya Kishida added that the forecast for the developing cooling business is indeed cautious. On long-term profitability, Kishida stated that a 15% operating profit ratio is the minimum target for all successful business areas, emphasizing it is part of Nidec's 'D&A' and the company will not pursue business lines that cannot achieve this level of profitability.

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    Takayuki Naito's questions to NIDEC (NJDCY) leadership • Q1 2025

    Question

    Takayuki Naito of Citigroup Securities requested a breakdown of the upward revision to the full-year forecast, specifically the factors contributing to the JPY 15 billion increase for the first half. He also asked why the outlook for the second half appears more conservative. His second question focused on the long-term strategy, asking about the expected operating profit margins for the five new business pillars by 2030 and whether the 15% target is considered achievable across all of them.

    Answer

    Executive Akinobu Samura explained the forecast revision, noting that Q1 operating profit of JPY 60 billion surpassed the JPY 45 billion target, leading to a JPY 15 billion upward revision for the first half. CEO Mitsuya Kishida added that the management team is committed to achieving its targets, especially after past downward revisions in the automotive business. Regarding long-term margins, Kishida stated that the company aims for a minimum of 15% operating profit ratio in all successful business areas and will not enter or remain in businesses where this target is not achievable, as it is part of the company's 'D&A'.

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