Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Paramount Bed Holdings Co Lt / Equity Bottom-Up

Paramount Bed Holdings Company Ltd. operates as a holding company. The Company, through its subsidiaries, designs and manufactures hospital, medical, electric, motorized, and orthopedic beds.

<ul>
<li>During 9MFY25, <a href="https://www.smartkarma.com/entities/paramount-bed-holdings-co-lt" target="_blank" data-smartkarma-citation="entities:17808:1" rel="noopener">Paramount Bed Holdings Co Lt (7817 JP)</a> reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.</li>
<li>Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.</li>
<li>Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.</li>
</ul>


During 9MFY25, Paramount Bed Holdings Co Lt (7817 JP) reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.
Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.
Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.


Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

Equity Derivatives Broker - Delta One Japan, Vantage Capital Markets Japan

François-Xavier Pustoc'h

Equity Derivatives Broker - Delta One Japan

Vantage Capital Markets Japan

We provide world class financial solutions to our extensive institutional client base including rapidly growing corporations, leading investment banks, commercial banks, asset managers, private equity funds, family offices and hedge funds.

Our services include capital market offerings and placements, wholesale brokerage and execution of cash and derivative products (both listed and OTC) across a range of asset classes.

VCM has offices in London, Hong Kong, Tokyo and Dubai from where we service our global client base. Our strength lies in the experience and quality of our teams, supported by excellent operations and infrastructure.

Independent Financial Broker

Macroeconomics

<ul><li>Japanese Equities down 9.77% vs. World -2.81% and US -5.21%.</li><li>Japan Sectors: Nonferrous Metal down 20.0%, Oil &amp; Coal Products -17.89%, Banks 22.29%</li><li>JPY 10Y Rates down 40bps, ITRAXX Japan 5Y going up 9.64pt at 65.80</li></ul>

Japanese Equities down 9.77% vs. World -2.81% and US -5.21%.Japan Sectors: Nonferrous Metal down 20.0%, Oil &amp; Coal Products -17.89%, Banks 22.29%JPY 10Y Rates down 40bps, ITRAXX Japan 5Y going up 9.64pt at 65.80

Weekly Macroeconomic Report (April 4th, 2025)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Mitsubishi Logisnext Co., Ltd. / Event-Driven

Mitsubishi Logisnext Co., Ltd. manufactures industrial vehicles and logistics systems. The Company's products include battery forklifts, unmanned forklifts, monorails, automated warehouses, powered moving shelves, and other logistics related products.

<ul>
<li>There was a Nikkei article in December about the <a href="https://www.smartkarma.com/entities/mitsubishi-heavy-industries" target="_blank" data-smartkarma-citation="entities:13613:1" rel="noopener">Mitsubishi Heavy Industries (7011 JP)</a> selling its interests in <a href="https://www.smartkarma.com/entities/mitsubishi-logisnext-co-ltd" target="_blank" data-smartkarma-citation="entities:11662:1" rel="noopener">Mitsubishi Logisnext Co., Ltd. (7105 JP)</a>. </li>
<li>The stock popped. Then popped some more. It was not expensive yet, but no longer dirt cheap. Now the stock is falling as Trump Tariffs threaten to throttle exports.</li>
<li>The reasons why this takeout price could be "high" are unchanged. Tariffs meant to drive US-manufacturing don't reduce need for forklifts. Logisnext is not badly placed.</li>
</ul>


There was a Nikkei article in December about the Mitsubishi Heavy Industries (7011 JP) selling its interests in Mitsubishi Logisnext Co., Ltd. (7105 JP). 
The stock popped. Then popped some more. It was not expensive yet, but no longer dirt cheap. Now the stock is falling as Trump Tariffs threaten to throttle exports.
The reasons why this takeout price could be "high" are unchanged. Tariffs meant to drive US-manufacturing don't reduce need for forklifts. Logisnext is not badly placed.


Mitsubishi Logisnext (7105) - Worth Buying The Dip On Likely Sale

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>
India: RBI rate decision on 9 April, 0.25% cut expected.</li>
<li>
CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.</li>
<li>
Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.</li>
</ul>



India: RBI rate decision on 9 April, 0.25% cut expected.

CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.

Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.


Market Movers: Key Dates at a Glance (7 - 13 April)

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.

ONWARD HOLDINGS CO., LTD. manufactures men's ready-made suits, women's, and children's wear.  The Company has its own brands, Onward and KUMIKYOKU. Onward also manufactures sports goods, books, stationery, cosmetics, art decoration.

<ul><li>Onward's FY02/25 sales reached JPY208.4bn (+9.9% YoY), with a net income of JPY8.5bn (+28.8% YoY).</li><li>FY02/26 projections include sales of JPY230bn (+10.4% YoY) and operating profit growth of 13.3% YoY to JPY11.5bn.</li><li>The company plans to introduce an interim dividend system, targeting a total annual dividend of JPY30 per share.</li></ul>

Onward's FY02/25 sales reached JPY208.4bn (+9.9% YoY), with a net income of JPY8.5bn (+28.8% YoY).FY02/26 projections include sales of JPY230bn (+10.4% YoY) and operating profit growth of 13.3% YoY to JPY11.5bn.The company plans to introduce an interim dividend system, targeting a total annual dividend of JPY30 per share.

Onward Holdings (8016 JP): Full-year FY02/25 flash update

Japan
Insights on Japan

Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

In 9MFY25, Paramount Bed reported 3% YoY revenue growth driven by nursing care, but higher expenses eroded profits. The company reiterated FY25...

Tina Banerjee

Weekly Macroeconomic Report (April 4th, 2025)

Japanese Equities down 9.77% vs. World -2.81% and US -5.21%. Japan Sectors: Nonferrous Metal down 20.0%, Oil & Coal Products -17.89%, Banks 22.29%

François-Xavier Pustoc'h

Mitsubishi Logisnext (7105) - Worth Buying The Dip On Likely Sale

Logisnext is dipping on market dip (some would put it more strongly). This deal is not specifically tariff-risk (imho) because US mfg plants are an...

Travis Lundy

Market Movers: Key Dates at a Glance (7 - 13 April)

RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.

Gaudenz Schneider

Onward Holdings (8016 JP): Full-year FY02/25 flash update

Onward's FY02/25 sales reached JPY208.4bn (+9.9% YoY), with a net income of JPY8.5bn (+28.8% YoY). FY02/26 projections include sales of JPY230bn...

Shared Research

Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

​In 9MFY25, Paramount Bed reported 3% YoY revenue growth driven by nursing care, but higher expenses eroded profits. The company reiterated FY25...

Tina Banerjee

Weekly Macroeconomic Report (April 4th, 2025)

Japanese Equities down 9.77% vs. World -2.81% and US -5.21%. Japan Sectors: Nonferrous Metal down 20.0%, Oil & Coal Products -17.89%, Banks 22.29%

François-Xavier Pustoc'h

Mitsubishi Logisnext (7105) - Worth Buying The Dip On Likely Sale

Logisnext is dipping on market dip (some would put it more strongly). This deal is not specifically tariff-risk (imho) because US mfg plants are an...

Travis Lundy

Market Movers: Key Dates at a Glance (7 - 13 April)

​RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.

Gaudenz Schneider

Onward Holdings (8016 JP): Full-year FY02/25 flash update

Onward's FY02/25 sales reached JPY208.4bn (+9.9% YoY), with a net income of JPY8.5bn (+28.8% YoY). FY02/26 projections include sales of JPY230bn...

Shared Research

In 9MFY25, Paramount Bed reported 3% YoY revenue growth driven by nursing care, but higher expenses eroded profits. The company reiterated FY25...

RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.