Japanese Turnaround Situations, Short-Ideas, Azabu Research

Michael Allen

Japanese Turnaround Situations, Short-Ideas

Azabu Research

Azabu Research is a publishing and consulting firm focused on distressed equities in the Japanese market. We specialize in turnaround strategies, corporate combinations, divestitures, and restructuring.

Publisher of the Tokyo Turnaround Letter, which conducts the most thorough research possible of publicly available information, including forensic tests for fraudulent overstatement of assets and understatement of liabilities, as well as rigorous market and industry analysis to assess the underlying strengths of the company’s products or services, the appropriateness of the company’s turnaround strategy, and the skill of its current management team. The average length of a report exceeds 25 pages of text and tables, excluding any disclosures or executive summaries.

We have more than 30 years of experience in applying this process to distressed equities in Japan. Additionally, subscribers have free access to detailed, yet easily navigated earnings models for the target company as well as the top five comparable companies, and unlimited access to the analyst for follow-up questions.

Azabu Research also conducts be-spoke research on a project basis, and provides consulting services to companies looking to restructure, divest, make acquisitions, go public, or improve investor sentiment toward their stock.

Independent Research and Consulting Firm

Equity Bottom-Up

NEXTAGE Co., Ltd. operates a used automobile business. Its main line of business is retail of used domestic cars but it also sells imported cars and SUV/vans. In addition, the company also operates an automobile maintenace business.

<ul>
<li>NextAge has, in just two short years, moved from number 3 to number 1 in the used car market in Japan. </li>
<li>It’s market share is still less than 7% and we no longer see any meaningful obstacle in the company’s path to 30% share within the next 8 years. </li>
<li>The stock underperformed Topix by 59% following a series of earnings misses, but we think all issues have been resolved. Fair value could be 3x the current price.</li>
</ul>


NextAge has, in just two short years, moved from number 3 to number 1 in the used car market in Japan. 
It’s market share is still less than 7% and we no longer see any meaningful obstacle in the company’s path to 30% share within the next 8 years. 
The stock underperformed Topix by 59% following a series of earnings misses, but we think all issues have been resolved. Fair value could be 3x the current price.


NextAge (3186):  Disruptive Business Model at Massive Discount

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

MoneyHero Limited operates as a personal finance company. The company was founded in 2014 and is headquartered in Singapore.

<p>For our next Corporate Webinar, we are glad to welcome MoneyHero Group’s CEO and Director, Mr Rohith Murthy and CFO, Mr Hao Qian.</p>
<p>In the upcoming webinar, Rohith and Hao will share a short company presentation after which, they will engage in a fireside chat with Smartkarma Insight Provider, Ishan Majumdar. The Corporate Webinar will include a live Q&amp;A session.</p>
<h3>The Corporate Webinar will be hosted on Tuesday, 13 August 2024, 15:00 SGT. </h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=87046321736" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<h3>About MoneyHero Group</h3>
<p>MoneyHero Group connects people to a better financial future. The mission at MoneyHero Group is to make all of life’s financial decisions a time saving and rewarding experience. MoneyHero Group educates consumers about personal finance, helps them decide which products are best suited for their needs, and facilitates getting the product. They connect financial institutions with their target customers and help them achieve their customer acquisition objectives.</p>

For our next Corporate Webinar, we are glad to welcome MoneyHero Group’s CEO and Director, Mr Rohith Murthy and CFO, Mr Hao Qian.
In the upcoming webinar, Rohith and Hao will share a short company presentation after which, they will engage in a fireside chat with Smartkarma Insight Provider, Ishan Majumdar. The Corporate Webinar will include a live Q&amp;A session.
The Corporate Webinar will be hosted on Tuesday, 13 August 2024, 15:00 SGT. 



Register for the Webinar here



About MoneyHero Group
MoneyHero Group connects people to a better financial future. The mission at MoneyHero Group is to make all of life’s financial decisions a time saving and rewarding experience. MoneyHero Group educates consumers about personal finance, helps them decide which products are best suited for their needs, and facilitates getting the product. They connect financial institutions with their target customers and help them achieve their customer acquisition objectives.

Smartkarma Corporate Webinar | MoneyHero Group: Driving Expansion and Innovation in Southeast Asia

Asia Consumer Research, Investory

Devi Subhakesan

Asia Consumer Research

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

<ul>
<li>Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.</li>
<li>An interesting comparison between China and India smart phone markets in 2Q 2024 - highlighting differences in market size and the dominance of leading players.</li>
<li>
<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp(1810 HK)</a>  made a strong come back in 2Q24 in terms of sales in both the markets. In China, it saw a 17% year-on-year increase, shipping 10 million units.</li>
</ul>


Welcome to Consumer Tales &amp; Trends, your weekly roundup of the latest corporate developments, investment reports and sector events in the consumer industry.
An interesting comparison between China and India smart phone markets in 2Q 2024 - highlighting differences in market size and the dominance of leading players.

Xiaomi Corp(1810 HK)  made a strong come back in 2Q24 in terms of sales in both the markets. In China, it saw a 17% year-on-year increase, shipping 10 million units.


Consumer Tales #July21-26:Apple Falls from Top 5 in China, Xiaomi Tops India Smartphones

Specialist in Indian Banking and Economic Research

Hemindra Hazari

YES BANK Limited provides banking services. The Bank offers deposits, personal loans, e-banking, trade finance, corporate, and business banking services. YES BANK serves the food and agribusiness, life sciences, healthcare, biotechnology, telecommunications, media, information technology, and infrastructure development industries in India.

<ul>
<li>Reconstructed board of Yes Bank implemented an ill-conceived, poorly executed retail strategy to revive the bank</li>
<li>Structural problem of low net interest margin and high overheads not resolved</li>
<li>Retail assets strategy characterised by low yield, high operating cost and rising credit cost which the bank has finally acknowledged</li>
</ul>


Reconstructed board of Yes Bank implemented an ill-conceived, poorly executed retail strategy to revive the bank
Structural problem of low net interest margin and high overheads not resolved
Retail assets strategy characterised by low yield, high operating cost and rising credit cost which the bank has finally acknowledged


Yes Bank’s Retail Therapy Proves Expensive

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul>
<li>This is a follow-up research note on MoneyHero Group, a leading personal finance aggregation and comparison entity in Greater Southeast Asia.</li>
<li>In its most recent Q1 2024 result, the company continues to demonstrate exceptional growth and strategic agility.</li>
<li>MoneyHero Group has seen a significant uptick in revenues and improved margins and was also in the news for an important strategic sale of CompareHero in Malaysia that could prove to be another game changer.</li>
</ul>


This is a follow-up research note on MoneyHero Group, a leading personal finance aggregation and comparison entity in Greater Southeast Asia.
In its most recent Q1 2024 result, the company continues to demonstrate exceptional growth and strategic agility.
MoneyHero Group has seen a significant uptick in revenues and improved margins and was also in the news for an important strategic sale of CompareHero in Malaysia that could prove to be another game changer.


MoneyHero Group: A Promising Q1 2024 Result With Lots To Look Forward To!!

Unpaywalled Equity-Bottom-Up
Unpaywalled Equity-Bottom-Up Insights

NextAge (3186): Disruptive Business Model at Massive Discount

Couche tard's bid for 7&i was made possible by a combination of a weak yen and an undervalued stock. NextAge is in a similar situation, but unlike...

Michael Allen

Smartkarma Corporate Webinar | MoneyHero Group: Driving Expansion and Innovation in Southeast Asia

Explore Southeast Asia's flourishing fintech sector with MoneyHero Group’s (MNY US) CEO, Mr. Rohith Murthy, and CFO, Mr. Hao Qian, in an engaging...

Smartkarma Research

Consumer Tales #July21-26:Apple Falls from Top 5 in China, Xiaomi Tops India Smartphones

Comparing smartphone market trends in China and India for 2Q 2024 highlighting differences in market size and the dominance of leading players....

Devi Subhakesan

Yes Bank’s Retail Therapy Proves Expensive

Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...

Hemindra Hazari

MoneyHero Group: A Promising Q1 2024 Result With Lots To Look Forward To!!

This is a follow-up research note on MoneyHero Group, a leading personal finance aggregation and comparison entity in Greater Southeast Asia.

Baptista Research

NextAge (3186): Disruptive Business Model at Massive Discount

Couche tard's bid for 7&i was made possible by a combination of a weak yen and an undervalued stock. NextAge is in a similar situation, but unlike...

Michael Allen

Smartkarma Corporate Webinar | MoneyHero Group: Driving Expansion and Innovation in Southeast Asia

Explore Southeast Asia's flourishing fintech sector with MoneyHero Group’s (MNY US) CEO, Mr. Rohith Murthy, and CFO, Mr. Hao Qian, in an engaging...

Smartkarma Research

Consumer Tales #July21-26:Apple Falls from Top 5 in China, Xiaomi Tops India Smartphones

Comparing smartphone market trends in China and India for 2Q 2024 highlighting differences in market size and the dominance of leading players....

Devi Subhakesan

Yes Bank’s Retail Therapy Proves Expensive

​Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...

Hemindra Hazari

MoneyHero Group: A Promising Q1 2024 Result With Lots To Look Forward To!!

This is a follow-up research note on MoneyHero Group, a leading personal finance aggregation and comparison entity in Greater Southeast Asia.

Baptista Research

Yes Bank's implemented an ill-conceived, poorly executed retail strategy to revive the bank and the asset strategy is facing challenges of low...