Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

FreeBit Co., Ltd. provides Internet connectivity outsourcing services for Internet service providers.  The Company also offers ubiquitous networking environment.  FreeBit provides consulting services for Internet related businesses as well.

<ul><li>Cumulative Q3 FY04/25 revenue, operating, and recurring profit increased 1.4%, 0.4%, and 1.0% YoY, respectively; net income declined 11.9%.</li><li>Revenue grew 5.6% YoY, but operating profit declined 25.7% YoY due to communication equipment and human resource costs.</li><li>Revenue declined 3.7% YoY, operating profit rose 7.0% YoY; excluding fiscal change, revenue and profit increased 5.5% and 27.3%.</li></ul>

Cumulative Q3 FY04/25 revenue, operating, and recurring profit increased 1.4%, 0.4%, and 1.0% YoY, respectively; net income declined 11.9%.Revenue grew 5.6% YoY, but operating profit declined 25.7% YoY due to communication equipment and human resource costs.Revenue declined 3.7% YoY, operating profit rose 7.0% YoY; excluding fiscal change, revenue and profit increased 5.5% and 27.3%.

Freebit Co Ltd (3843 JP): Q3 FY04/25 flash update

NEOJAPAN Inc. develops and provides Internet application software, which includes  a web-based groupware for information sharing within a company. The Company mainly provides package software, application service and system integration.

<ul><li>Revenue increased 9.8% YoY to JPY7.3bn, with operating profit up 50.5% YoY to JPY2.0bn.</li><li>Desknet’s NEO Cloud revenue grew 17.4% YoY, driven by a 3.5% user increase and a price revision.</li><li>The Overseas segment's revenue rose 53.5% YoY, but operating loss increased due to higher personnel and startup costs.</li></ul>

Revenue increased 9.8% YoY to JPY7.3bn, with operating profit up 50.5% YoY to JPY2.0bn.Desknet’s NEO Cloud revenue grew 17.4% YoY, driven by a 3.5% user increase and a price revision.The Overseas segment's revenue rose 53.5% YoY, but operating loss increased due to higher personnel and startup costs.

NEOJAPAN Inc (3921 JP): Full-year FY01/25 flash update

3-D Matrix, Ltd. researches and develops medical products by applying self assembling peptide technology.

<ul><li>Operating revenue grew 69.5% YoY to JPY5.1bn, driven by strong sales of TDM-621 across multiple regions.</li><li>The company revised its FY04/25 forecast, expecting JPY7.0bn in revenue and a reduced operating loss of JPY769mn.</li><li>Foreign exchange fluctuations impacted recurring loss, with JPY649mn in losses due to yen appreciation against USD and EUR.</li></ul>

Operating revenue grew 69.5% YoY to JPY5.1bn, driven by strong sales of TDM-621 across multiple regions.The company revised its FY04/25 forecast, expecting JPY7.0bn in revenue and a reduced operating loss of JPY769mn.Foreign exchange fluctuations impacted recurring loss, with JPY649mn in losses due to yen appreciation against USD and EUR.

3 D Matrix Ltd (7777 JP): Q3 FY04/25 flash update

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Keisei Electric Railway Co / Equity Bottom-Up

Keisei Electric Railway Co., Ltd. provides passenger rail and bus transportation services in the Metropolitan Tokyo and Chiba prefecture areas.  The Company operates department and supermarket stores, hotels, travel agents, movie theater and restaurants, and sells, leases, and maintains real estate.  Keisei Electric is a shareholder of Oriental Land Co., Ltd. which operates Tokyo Disneyland.

<ul>
<li>Post COVID investors have been monitoring <a href="https://www.smartkarma.com/entities/keisei-electric-railway-co" target="_blank" data-smartkarma-citation="entities:10876:1" rel="noopener">Keisei Electric Railway Co (9009 JP)</a> as part of the shareholder activism program. </li>
<li>Recently, the management has announced a share buyback of up to 8 million shares. In 2022, they bought back 5 million shares, and the share price rallied 21% that year. </li>
<li>It currently trades at 6x PER while Topix trades at 14x PER. </li>
</ul>


Post COVID investors have been monitoring Keisei Electric Railway Co (9009 JP) as part of the shareholder activism program. 
Recently, the management has announced a share buyback of up to 8 million shares. In 2022, they bought back 5 million shares, and the share price rallied 21% that year. 
It currently trades at 6x PER while Topix trades at 14x PER. 


i-mobile Co., Ltd. provides online advertising services. The Company offers online advertising campaigning, reporting, animation, and median branding services for personal computers, mobile phones, and tablets. i-mobile conducts its business in Japan.

<ul><li>In 1H FY07/25, the company reported revenue of JPY16.4bn (+14.5% YoY) and operating profit of JPY3.7bn (+8.2% YoY).</li><li>Consumer Service segment saw revenue of JPY15.1bn (+17.6% YoY), with a 24.7% operating profit margin, down 0.7pp YoY.</li><li>Online Advertising segment reported revenue of JPY1.2bn (-13.9% YoY) and segment profit of JPY77mn (-70.3% YoY).</li></ul>

In 1H FY07/25, the company reported revenue of JPY16.4bn (+14.5% YoY) and operating profit of JPY3.7bn (+8.2% YoY).Consumer Service segment saw revenue of JPY15.1bn (+17.6% YoY), with a 24.7% operating profit margin, down 0.7pp YoY.Online Advertising segment reported revenue of JPY1.2bn (-13.9% YoY) and segment profit of JPY77mn (-70.3% YoY).

i-mobile Co Ltd (6535 JP): 1H FY07/25 flash update

Japan Small Cap Growth
Undercovered Japanese Gems

Freebit Co Ltd (3843 JP): Q3 FY04/25 flash update

Cumulative Q3 FY04/25 revenue, operating, and recurring profit increased 1.4%, 0.4%, and 1.0% YoY, respectively; net income declined...

Shared Research

NEOJAPAN Inc (3921 JP): Full-year FY01/25 flash update

Revenue increased 9.8% YoY to JPY7.3bn, with operating profit up 50.5% YoY to JPY2.0bn. Desknet’s NEO Cloud revenue grew 17.4% YoY, driven by a...

Shared Research

3 D Matrix Ltd (7777 JP): Q3 FY04/25 flash update

Operating revenue grew 69.5% YoY to JPY5.1bn, driven by strong sales of TDM-621 across multiple regions. The company revised its FY04/25 forecast,...

Shared Research

Keisei Electric (9009): Buyback

The management of Keise Electric has recently announced a share buyback of up to 8 million shares. In 2022, they bought back 5 million shares, and...

Henry Soediarko

i-mobile Co Ltd (6535 JP): 1H FY07/25 flash update

In 1H FY07/25, the company reported revenue of JPY16.4bn (+14.5% YoY) and operating profit of JPY3.7bn (+8.2% YoY). Consumer Service segment saw...

Shared Research