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First Eagle Investment Comments on Keyence

Japan's Keyence (TSE:6861) is another company at which the founder's ethos remains keenly felt even as day-to-day leadership has passed on to others. Launched in 1974 by Takemitsu Takizaki--who serves as honorary chairman of the board of directors and, along with his family, remains a significant shareholder--Keyence is a global market leader in the sensors that serve as the "eyes and ears" of automated factories and warehouses to help ensure their efficient operation. Keyence's main competitive advantage lies in its broad product portfolio combined with a large in-house salesforce that allows it to develop entrenched relationships with its customers and respond nimbly to their needs. Keyence has capitalized on this attractive value proposition.

From First Eagle Investment (Trades, Portfolio)'s September 2019 commentary, International Equity: Selectivity in a Vast and Varied Market.
This article first appeared on GuruFocus.