Opinions
Mark Grammer
Fanuc Corp
6954-TYO
COMMENT
Sep 16, 2015
N/A
Stock price when the opinion was issued
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COMMENT
One of the predominant robot manufacturers globally. An exceptionally well-run company. Historically, they have not had the best corporate governance, in that they just haven’t cared about the shareholders. Communication is getting much better. There are many that think this is an opportune time to invest in a company like this. His valuation still found this to be a little bit too expensive for his liking.
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Factory automation equipment. Probably #1 or #2 in robots globally. The issue is their auto exposure. People are concerned about auto exposure. The other issue would be Apple (AAPL-Q). They have significant exposure to the iPhone, because they make the robots that manufacture the metal backing for iPhones. We are now seeing less capital expenditure going on for some of the suppliers to Apple, which has hurt them a little.