Goldman getting increasingly constructive on Furukawa Electric and, more broadly, the AI optical/datacenter buildout in Japan. The firm says the company’s new medium-term plan came in well above consensus: FY3/31 op profit target now ¥250B (hell yeah, finally 2031 numbers again) Datacenter-related businesses expected to drive the majority of earnings Massive investment ramp into optical and digital infrastructure Interesting sector read-through: GS basically frames Furukawa as another beneficiary of the ongoing AI cluster/network scaling cycle, where optical connectivity, datacenter infrastructure, and power/network components continue seeing structurally stronger demand. So despite the huge rerating across AI infrastructure names, Furukawa’s valuation still doesn’t fully reflect the earnings power of the cycle.