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4-Traders Homepage  >  Equities  >  Tokyo  >  Denso Corp    6902   JP3551500006

DENSO CORP (6902)
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BlackBerry surges on deal with Baidu for self-driving cars

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01/04/2018 | 12:05am CET
A employee uses his mobile phone as he walks past the company logo of Baidu at its headquarters in Beijing

BlackBerry Ltd (>> BlackBerry Ltd) and Chinese internet search firm Baidu Inc (>> Baidu) on Wednesday signed a deal to jointly develop self-driving vehicle technology, sending BlackBerry's Toronto-listed shares up 13 percent to a four-year high.

BlackBerry Ltd (>> BlackBerry Ltd) and Chinese internet search firm Baidu Inc (>> Baidu) on Wednesday signed a deal to jointly develop self-driving vehicle technology, sending BlackBerry's Toronto-listed shares up 13 percent to a four-year high.

The deal follows similar agreements with firms including Qualcomm Inc (>> Qualcomm), Denso (>> Denso Corp) and Aptiv Plc (>> Aptiv PLC) to develop autonomous-driving technology with BlackBerry's QNX software, which are expected to start generating revenue in 2019.

Investors and analysts are closely watching what comes of those agreements amid expectations that QNX could become a key technology in the burgeoning self-driving vehicle industry, serving as the operating system for computer chips used to run self-driving vehicles.

QNX will be the operating system for Apollo, a platform for self-driving vehicles that Baidu announced in April and has billed as the "Android" of the autonomous driving industry.

"The opportunity is global, it's for a very large market and I think it's a very solid win for BlackBerry," said CIBC Capital Markets analyst Todd Coupland.

Apollo has since signed up several major automakers, including Ford Motor Co (>> Ford Motor Company), Hyundai Motor Group (>> Hyundai Motor Co) and several Chinese carmakers.

QNX has long been used to run car infotainment consoles. BlackBerry has recently developed the software to run sophisticated computer chips for autos that manage multiple safety-critical systems.

BlackBerry shares rose 13 percent in Toronto to C$16.95, their sharpest one-day gain since April and highest close since March 2013.

The two companies said they will also integrate Baidu's CarLife, a leading smartphone integration software for connected cars in China, its conversational AI system and high definition maps with BlackBerry's infotainment platform.

(Reporting by Alastair Sharp in Toronto and John Benny in Bengaluru; Editing by Jim Finkle and Sandra Maler)

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Financials ( JPY)
Sales 2018 5 027 B
EBIT 2018 -
Net income 2018 309 B
Finance 2018 543 B
Yield 2018 1,84%
P/E ratio 2018 17,94
P/E ratio 2019 16,86
EV / Sales 2018 1,01x
EV / Sales 2019 0,94x
Capitalization 5 633 B
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Denso Corp Technical Analysis Chart | 6902 | JP3551500006 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 6 956  JPY
Spread / Average Target -1,9%
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Managers
NameTitle
Koji Arima President, CEO & Representative Director
Nobuaki Katoh Chairman
Yasushi Yamanaka Representative Director, VP & Head-Technology
Bill Foy Senior Vice President-Engineering
Masahiko Miyaki Director
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