Goldman Sachs Japan Bullish on Kyocera after Shake Up of Executive Positions (KYO)

| About: Kyocera Corporation (KYO)

Kyocera (KYO) is set to undergo a change in directors if approved at its Board of Directors Meeting held the 27th. The titles CEO, CFO, and COO will be discontinued and the current COO, Makoto Kawamura will take on the position of President and Executive Officer. According to Kabushiki Shimbun, Goldman Sachs Japan views Kawamura as bringing decisiveness and speed to the organization as it continues to restructure and attempts to meet its fiscal year-end financial targets. GS is maintaining an "outperform" rating on Kyocera following the news of the shake up last Thursday.

Also, it was a little over a month ago that I wrote a post questioning if Kyocera's stock run up was over. At the time (Feb. 17th) Kyocera was trading lower on the day around $85.90 and went on to close at $86.01. Its ordinary shares closed on Feb. 17th at 10,110 yen. Now a month later, its ADRs closed yesterday at $87.65 whereas its ordinary shares were at 10,190, little changed from a month ago. Kyocera's run has been sustained somewhat and re-energized for American investors following the recent strength overall in Japanese equities and the strengthening of the yen.

KYO 1-yr chart:

About this article:

Tagged: , Diversified Electronics, Japan
Want to share your opinion on this article? Add a comment.
Disagree with this article? .
To report a factual error in this article, click here