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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 CEST
A employee uses his mobile phone as he walks past the company logo of Baidu at its headquarters in Beijing

(Reuters) - 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.

(Reuters) - 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)

Stocks mentioned in the article
ChangeLast1st jan.
APTIV 2.64% 96 Delayed Quote.10.28%
BAIDU 1.19% 270.305 Delayed Quote.14.03%
BLACKBERRY LTD 0.26% 13.33 Delayed Quote.-4.42%
FORD MOTOR COMPANY -0.14% 10.83 Delayed Quote.-12.09%
HYUNDAI MOTOR CO --End-of-day quote.
QUALCOMM -0.05% 58.3 Delayed Quote.-8.79%
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Financials ( JPY)
Sales 2019 5 398 B
EBIT 2019 -
Net income 2019 313 B
Finance 2019 399 B
Yield 2019 2,50%
P/E ratio 2019 13,38
P/E ratio 2020 12,31
EV / Sales 2019 0,71x
EV / Sales 2020 0,68x
Capitalization 4 251 B
Chart DENSO CORP
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Technical analysis trends DENSO CORP
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 6 683  JPY
Spread / Average Target 25%
EPS Revisions
Managers
NameTitle
Koji Arima President, CEO & Representative Director
Yasushi Yamanaka Representative Director, VP & Head-Technology
Bill Foy Senior Vice President-Engineering
Masahiko Miyaki Director
Koji Kobayashi Director
Sector and Competitors
1st jan.Capitalization (M$)
DENSO CORP-22.12%37 808
CONTINENTAL-11.00%47 288
APTIV10.28%24 790
MAGNA INTERNATIONAL INC.10.58%21 025
HYUNDAI MOBIS CO., LTD.--.--%19 298
VALEO-22.10%13 803