If we look at the 1Q Aggregate numbers, which Sectors are best and worst positioned for the rest of the year? On the positive side, names in the Information and Communication sector achieved 30% of the aggregate OP guidance. Toho (9602) achieved 39% of full-year OP and KONAMI (9766) achieved 36% of its full-year OP guidance. The Pharmaceutical Sector achieved 40% of its aggregate OP. Takeda Pharma (4502) has already achieved 113% of its full-year OP guidance and Eisai (4523) has already achieved 48% of full-year OP guidance. Transportation Equipment achieved 32% of full-year OP guidance. Honda (7267) is at the top with 45% of OP guidance achieved, followed by Toyota Motors (7203) with 38% achieved.
On the other side, only 18% of aggregate OP was achieved in the Machinery Sector. Sankyo (6417) has a negative 16% achieved and Ebara (6361) is basically at nothing achieved. Electronic Appliances companies were only able to achieve 18% of full-year OP guidance. NEC (6701) OP came in at negative 30¥bn OP so that is not a good start for them. Fujitsu (6702) is not much better losing 11¥bn at the OP level in the first quarter. Other Sectors that are not off to a good start are Construction with only 17% of full-year OP achieved, Nonferrous Metals with only 18% achieved and Oil & Coal Products with only 15% of full-year OP guidance achieved.
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