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Nifco: Quality Tier 1 Supplier Looks Fairly Priced

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Karreta Advisors


  • Nifco is a well-run auto parts business with relatively high margins and disciplined capital management.
  • It is experiencing an upturn in business which should carry through into FY3/2022. Its product diversification efforts into EV and ADAS should prove to be a success.
  • Valuations are not steep for a quality Tier 1 supplier, but we do not think the shares are undervalued on PER FY3/2022 16.6x. We are neutral.

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Investment thesis

Nifco (OTCPK:NIFCY) (OTCPK:NIFCF) is a well-run Japanese auto parts company. It has relatively high margins, good capital management, has globally diversified clients and is demonstrating some success expanding into EV and

This article was written by

Karreta Advisors profile picture
We are an independent research house. We look at global stocks, favoring those with sustainable growth and recognized or emerging as a high quality franchise at suitable valuations. We primarily serve institutional investors.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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