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

<ul><li>en Japan's FY03/25 sales declined to JPY48.4bn (-2.6% YoY), with operating profit at JPY3.8bn (+48.6% YoY).</li><li>HR-Tech engage segment sales rose to JPY6.9bn (+40.7% YoY), but incurred an operating loss of JPY2.0bn.</li><li>en Japan revised its FY03/25 forecast, projecting sales of JPY65.8bn and operating profit of JPY5.2bn.</li></ul>

en Japan's FY03/25 sales declined to JPY48.4bn (-2.6% YoY), with operating profit at JPY3.8bn (+48.6% YoY).HR-Tech engage segment sales rose to JPY6.9bn (+40.7% YoY), but incurred an operating loss of JPY2.0bn.en Japan revised its FY03/25 forecast, projecting sales of JPY65.8bn and operating profit of JPY5.2bn.

en Japan Inc (4849 JP): Q3 FY03/25 flash update

<ul><li>Consolidated sales declined to JPY32.5bn (-1.7% YoY), while net income attributable to owners reached JPY5.2bn (+570.2% YoY).</li><li>HR-Tech engage segment reported sales of JPY4.4bn (+45.3% YoY) with an operating loss of JPY1.6bn.</li><li>Human Resource Platform segment achieved JPY4.1bn in sales (+17.8% YoY) and an operating profit of JPY601mn.</li></ul>

Consolidated sales declined to JPY32.5bn (-1.7% YoY), while net income attributable to owners reached JPY5.2bn (+570.2% YoY).HR-Tech engage segment reported sales of JPY4.4bn (+45.3% YoY) with an operating loss of JPY1.6bn.Human Resource Platform segment achieved JPY4.1bn in sales (+17.8% YoY) and an operating profit of JPY601mn.

en Japan Inc (4849 JP): 1H FY03/25 flash update

<ul><li>Sales decreased 1.5% YoY to JPY16.2bn, while operating profit increased 124.2% YoY to JPY1.7bn.</li><li>Cost of sales decreased 9.2% YoY to JPY3.2bn, and SG&A expenses declined 7.1% YoY to JPY11.3bn.</li><li>Overseas segment sales declined due to external factors, with a 43.8% YoY drop in operating profit to JPY135mn.</li></ul>

Sales decreased 1.5% YoY to JPY16.2bn, while operating profit increased 124.2% YoY to JPY1.7bn.Cost of sales decreased 9.2% YoY to JPY3.2bn, and SG&A expenses declined 7.1% YoY to JPY11.3bn.Overseas segment sales declined due to external factors, with a 43.8% YoY drop in operating profit to JPY135mn.

en Japan Inc (4849 JP): Q1 FY03/25 flash update

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/timee-inc" target="_blank" data-smartkarma-citation="entities:43690:1" rel="noopener">Timee Inc (215A JP)</a>, a leading part-time job platform in Japan, is seeking to raise up to US$286 million. Book-building runs from 9 to 23 July.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/timee-215a-jp-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:150750" rel="noopener">Timee (215A JP) IPO: The Bull Case</a> and <a href="https://www.smartkarma.com/insights/timee-215a-jp-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:150848" rel="noopener">Timee (215A JP) IPO: The Bear Case</a>. </li>
<li>In this note, we discuss valuation. Our analysis suggests that Timee is attractively valued at the IPO price range in the context of the forecasted growth. </li>
</ul>



Timee Inc (215A JP), a leading part-time job platform in Japan, is seeking to raise up to US$286 million. Book-building runs from 9 to 23 July.
We previously discussed the IPO in Timee (215A JP) IPO: The Bull Case and Timee (215A JP) IPO: The Bear Case. 
In this note, we discuss valuation. Our analysis suggests that Timee is attractively valued at the IPO price range in the context of the forecasted growth. 


<ul>
<li>
<a href="https://www.smartkarma.com/entities/timee-inc" target="_blank" data-smartkarma-citation="entities:43690:1" rel="noopener">Timee Inc (215A JP)</a>, a leading part-time job platform in Japan, is seeking to raise up to US$286 million. Book-building runs from 9 to 23 July.</li>
<li>In <a href="https://www.smartkarma.com/insights/timee-215a-jp-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:150750" rel="noopener">Timee (215A JP) IPO: The Bull Case</a>, we highlighted the key elements of the bull case. In this note, we outline the bear case.</li>
<li>The bear case rests on rapidly slowing growth, an industry-low FCF profile, and a business model predicated on access to large funding and significant share option dilution.</li>
</ul>



Timee Inc (215A JP), a leading part-time job platform in Japan, is seeking to raise up to US$286 million. Book-building runs from 9 to 23 July.
In Timee (215A JP) IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
The bear case rests on rapidly slowing growth, an industry-low FCF profile, and a business model predicated on access to large funding and significant share option dilution.


Japan

en-japan inc. provides Internet-based recruiting solutions. The Company provides recruitment information for job seekers. en-japan's web site allows member employers to access its database of job seekers. The Company also provides recruitment consulting services.

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en Japan Inc (4849 JP)