Investment Strategy for Device-related Stocks in Summer 2026

研报英文原文证据摘录

Investment Strategy for Device-related Stocks in Summer 2026

Idea

August 4, 2026 06:39 AM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MMid Small Cap/Manufacturer | Japan Yoshihito Hasegawa

Equity Analyst

Investment Strategy for Device- Yoshihito.Hasegawa@morganstanleymufg.com +81 3 6836-8910

related Stocks in Summer 2026

Demand in SPE/data center components remains strong, but

Mid Small Cap/Manufacturer

from autos, consumer electronics and smartphone fields lacks Japan

Industry View In-Line

momentum. Passing on higher materials costs will be key to

What’s Changed

profits. At Sanyo Denki we're watching SPE component demand,

Sanyo Denki (6516.T) From To

expansion into the liquid cooling market, and margin gains. Rating Equal-weight Overweight

Price Target ¥7,300 ¥7,800

Key Takeaways Tamura (6768.T) From To

Price Target ¥900 ¥940

Sanyo Denki (upgrade EW to OW): Strong motion control demand & improved

costs are driving profit growth. The firm is focusing on expanding its AI-related Elecom (6750.T) From To

Price Target ¥2,000 ¥2,300

client base and liquid cooling product lineup.

Mitsui High-tec (6966.T) From To

Mitsui High-tec (OW): 2H earnings likely fall HoH, reversing from earlier gains in Price Target ¥840 ¥1,100

motor core sales & client inventory build, but EV market growth tailwinds still.

Related report

Elecom (OW): Weak yen aside, earnings growth should continue through sales Sanyo Denki: F3/27 1Q Results: Positive; OP

channel expansion via M&A, disciplined earnings management, SG&A controls. Progress Exceeds Half of 1H Guidance (30 Jul

Sanken (UW): Parent business trends remain tough. Demand for Cosel's (EW) 2026)

products recovering, but tight competition & higher materials costs suggest only

gradual earnings recovery.