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  "documentTitle": "Sony Corporation (6758.T)",
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      "text": "The one drawback of growth in CMOS is that it is very CAPEX heavy growth and has a bearing on FCF.",
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      "text": "While Sony invests substantially in its semiconductor business, we believe Sony has room to accelerate spend in order to capitalize on growth opportunities. Sony analysts and investors are constantly concerned about Sony's level of semiconductor capex spend, worrying that it will hurt FCF generation. Dedicated semiconductor analysts and investors understand that capex is tied to growth, and reward companies for investing heavily for the future.",
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      "text": "Raising 2016 capex for better demand in 2017: TSMC raised 2016 capex to US$9.5-10.5bn from US$9-10bn as the company sees better demand in the mobile market next year. — Macquarie",
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