Untimely Overseas Investments in Rising Interest Rates, Reducing MEC's FVE to JPY 2,100
We reduce our fair value estimate for Mitsubishi Estate Co Ltd (8802 JP), or MEC, to JPY 2,100 per share, from JPY 2,200 per share previously,...
118 Views
An Uphill Battle Awaits for Building Large Asset Risk Ahead of Real Demand, MF’s Shares Overvalued
Mitsui Fudosan Co Ltd (8801 JP), or MF, missed our adjusted earnings estimate by 15% mainly due to lower-than-expected institutional sales of...
111 Views
AP (AP TB): Cheap Real Estate Developer Reaping Benefits from JV
Good price momentum, low volatility in earnings, and low core profit valuation relative to its sector Strong presales should drive earnings moving...
144 Views
Mitsubishi Estate (8802) Trades at 60% of Adjusted NAV, a Laggard and Too Cheap.
This, and the sector, has been a dreadful performer over the last 12 months. We suspect it is now worth looking at this name. There is significant...
158 Views
Japan Equity Opportunities: High-Quality Businesses Will Benefit from Sustainable Growth Drivers
External Demand Still the Best Path to Drive Winners in the Japanese MarketDespite the recent uptick in domestic economic activity, we doubt...
109 Views