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

M&A Capital Partners Co., Ltd. is an M&A advisory firm. The Company provides advisory service in M&A due diligence, business strategy, corporate regeneration, capital increase strategy to support owners of small and medium companies with business succession.

<ul><li>FY09/24 revenue was JPY19.2bn, a decline of 8.1% YoY, with operating profit at JPY6.4bn, down 14.4%.</li><li>FY09/24 net income attributable to owners increased 5.6% YoY to JPY4.5bn, with a 104.4% achievement rate.</li><li>The company targets 376 deals and 405 consultants by FY09/27, with a CAGR of 19.4% and 31.0%.</li></ul>

FY09/24 revenue was JPY19.2bn, a decline of 8.1% YoY, with operating profit at JPY6.4bn, down 14.4%.FY09/24 net income attributable to owners increased 5.6% YoY to JPY4.5bn, with a 104.4% achievement rate.The company targets 376 deals and 405 consultants by FY09/27, with a CAGR of 19.4% and 31.0%.

M&A Capital Partners (6080 JP): Coverage initiation, Full-year FY09/24 flash update

Suzumo Machinery Co., Ltd. manufactures and sells rice processing machinery and automated robots for the sushi industry.  The Company's comprehensive line of products include rice washing, cooking, vinegar blending, and rice cake forming machines.  Suzumo Machinery also offers automated sushi roll and inari sushi-producing machines.

<ul><li>1H FY03/25 results: Sales JPY7.9bn (+16.9% YoY), Operating profit JPY1.1bn (+131.1% YoY), Net income JPY795mn (+169.0% YoY).</li><li>FY03/25 forecast: Sales JPY16.0bn (+10.0% YoY), Operating profit JPY1.9bn (+28.8% YoY), Net income JPY1.4bn (+18.3% YoY).</li><li>Domestic sales forecast JPY10.0bn (+4.2% YoY), Overseas sales forecast JPY4.9bn (+20.8% YoY), New businesses JPY983mn (+24.0% YoY).</li></ul>

1H FY03/25 results: Sales JPY7.9bn (+16.9% YoY), Operating profit JPY1.1bn (+131.1% YoY), Net income JPY795mn (+169.0% YoY).FY03/25 forecast: Sales JPY16.0bn (+10.0% YoY), Operating profit JPY1.9bn (+28.8% YoY), Net income JPY1.4bn (+18.3% YoY).Domestic sales forecast JPY10.0bn (+4.2% YoY), Overseas sales forecast JPY4.9bn (+20.8% YoY), New businesses JPY983mn (+24.0% YoY).

Suzumo Machinery (6405 JP): 1H FY03/25 flash update

Abalance Corporation develops and sells software designed for ECM (Enterprise Contents Management).  The Company also provides system integration and consulting services.  Abalance sells construction machinery and solar panels as well.

<ul><li>Q1 FY06/25 revenue was JPY21.7bn (-62.5% YoY), operating profit JPY1.3bn (-71.5% YoY), net loss JPY578mn.</li><li>Revenue decline due to US import tariff expiration; company plans new production bases in Ethiopia and US.</li><li>FY06/25 forecast: revenue JPY80.0bn (-61.7% YoY), operating profit JPY10.0bn (-57.2% YoY), dividend undecided.</li></ul>

Q1 FY06/25 revenue was JPY21.7bn (-62.5% YoY), operating profit JPY1.3bn (-71.5% YoY), net loss JPY578mn.Revenue decline due to US import tariff expiration; company plans new production bases in Ethiopia and US.FY06/25 forecast: revenue JPY80.0bn (-61.7% YoY), operating profit JPY10.0bn (-57.2% YoY), dividend undecided.

Abalance  (3856 JP): Q1 FY06/25 flash update

Rizap Group Inc provides low calorie foods including soy milk cookies, diet drinks, and supplements.  The Company sells its products through mail order.

<ul><li>Revenue increased by JPY6.9bn YoY, driven by chocoZAP membership growth, despite Lifestyle segment store closures.</li><li>Rizap-related businesses reported JPY25.1bn revenue (+43.2% YoY) with narrowed operating loss due to strategic investments in chocoZAP.</li><li>REXT Co., Ltd. revenue decreased by JPY3.5bn YoY due to store closures and inventory liquidation, impacting profitability.</li></ul>

Revenue increased by JPY6.9bn YoY, driven by chocoZAP membership growth, despite Lifestyle segment store closures.Rizap-related businesses reported JPY25.1bn revenue (+43.2% YoY) with narrowed operating loss due to strategic investments in chocoZAP.REXT Co., Ltd. revenue decreased by JPY3.5bn YoY due to store closures and inventory liquidation, impacting profitability.

Rizap Group (2928 JP): 1H FY03/25 flash update

Ferrotec Corporation develops, manufactures, and sells equipment that incorporates magnetic fluid (ferrofluid) technology. The Company manufactures and processes electronics components, manufactures machine tools, and cleans parts used in semiconductor manufacturing equipment as CMS (contract manufacturing service) business in China.

<ul><li>The company achieved 112.6% of its sales target, leading to a revision of the full-year forecast.</li><li>Semiconductor Equipment-related business saw increased sales in vacuum products and semiconductor manufacturing materials, boosting segment performance.</li><li>The company raised its sales forecast by JPY30.0bn, anticipating strong demand from Chinese manufacturers in 2H FY03/25.</li></ul>

The company achieved 112.6% of its sales target, leading to a revision of the full-year forecast.Semiconductor Equipment-related business saw increased sales in vacuum products and semiconductor manufacturing materials, boosting segment performance.The company raised its sales forecast by JPY30.0bn, anticipating strong demand from Chinese manufacturers in 2H FY03/25.

Ferrotec Corp (6890 JP): 1H FY03/25 flash update