Yokogawa Electric (6841.T): Roundtable meeting with President Shigeno (July 2026)

研报英文原文证据摘录

Yokogawa Electric (6841.T): Roundtable meeting with President Shigeno (July 2026)

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16 Jul 2026 04:53:40 ET │ 11 pages

Yokogawa Electric (6841.T)

Roundtable meeting with President Shigeno (July 2026)

CITI'S TAKE

Neutral Yokogawa Electric held a roundtable meeting with President Kunimasa

Shigeno for the sell-side at 13:00 (Japan time) on July 16. Our takeaway Price (16 Jul 26 15:30) ¥5,495.0

impression from the meeting was positive. Key points were as follows. 1) Target price ¥5,400.0

Customer investment demand remains active, driven by energy demand, Expected share price return -1.7%

with particular progress in LNG projects swinging into action and in the Expected dividend yield 1.7%

company's order wins. 2) Strategic project order wins will likely continue Expected total return -0.1%

this fiscal year. While short-term margin pressure from the booking of

Market Cap ¥1,376,869M reserves will likely persist, profitability can be delivered through follow-on

US$8,532M projects and after-sales service contract wins. 3) The company is

advancing further production capacity expansion for optical spectrum

analyzers in the test & measurement business, which remains strong,

driven by AI data center-related investments. Takahiro InoueAC

+81-3-6776-4646

Demand environment — We understand that the project pipeline in Saudi Arabia takahiro.inoue@citi.com

remains unchanged, despite the Middle East situation. Meanwhile, investment

projects in the UAE appear to have been on an uptrend recently. We got the

impression that the company's orders will likely remain strong in H1.

LNG-related — The company announced in a July 7 media release that it was

selected as the main automation contractor for the Commonwealth LNG project in

the US.