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>Orders decreased by 4.2% YoY, while revenue increased by 4.7% YoY, with operating profit rising 21.9% YoY.</li><li>Segment revenue for Products Quality Assurance grew 10.6% YoY, with operating profit surging 337.6% YoY.</li><li>Company forecasts revenue of JPY73.8bn (+4.0% YoY) and operating profit of JPY9.2bn (+22.0% YoY).</li></ul>

Orders decreased by 4.2% YoY, while revenue increased by 4.7% YoY, with operating profit rising 21.9% YoY.Segment revenue for Products Quality Assurance grew 10.6% YoY, with operating profit surging 337.6% YoY.Company forecasts revenue of JPY73.8bn (+4.0% YoY) and operating profit of JPY9.2bn (+22.0% YoY).

Anritsu Corp (6754 JP): 1H FY03/25 flash update

<ul><li>Orders: JPY26.0bn (+12.9% YoY), Revenue: JPY25.2bn (+10.9% YoY), Operating profit: JPY622mn (versus a loss of JPY57mn).</li><li>Segment revenue: JPY16.8bn (+10.8% YoY), Operating profit: JPY604mn (+42.5% YoY), OPM increased 0.8pp YoY.</li><li>Revenue: JPY115.0bn (+4.6% YoY), Operating profit: JPY11.0bn (+22.5% YoY), EPS: JPY62.99 (JPY58.29 in FY03/24).</li></ul>

Orders: JPY26.0bn (+12.9% YoY), Revenue: JPY25.2bn (+10.9% YoY), Operating profit: JPY622mn (versus a loss of JPY57mn).Segment revenue: JPY16.8bn (+10.8% YoY), Operating profit: JPY604mn (+42.5% YoY), OPM increased 0.8pp YoY.Revenue: JPY115.0bn (+4.6% YoY), Operating profit: JPY11.0bn (+22.5% YoY), EPS: JPY62.99 (JPY58.29 in FY03/24).

Anritsu Corp (6754 JP): Q1 FY03/25 flash update

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>SMCI +32% as it staves off delisting continues to set a positive tone for Nidec</li>
<li>Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco</li>
<li>Highlights relative cheapness for Japanese game stocks as take-over targets</li>
</ul>


SMCI +32% as it staves off delisting continues to set a positive tone for Nidec
Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco
Highlights relative cheapness for Japanese game stocks as take-over targets


Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

<ul>
<li>Good retailer numbers and outlooks by Target and TJX setting a positive tone for the likes of Mercari on the read for consumer spending.</li>
<li>Toll Bros numbers from the day before lifting US Homebuilders should see the likes of <a href="https://www.smartkarma.com/entities/sumitomo-forestry-co-ltd" target="_blank" rel="noopener">Sumitomo Forestry</a> rebound off yesterdays weak price action.</li>
<li>Japanese R/E names look increasingly vulnerable to downside ahead of Ueda's speech tomorrow which should point to a BoJ trajectory for future rate hikes.</li>
</ul>


Good retailer numbers and outlooks by Target and TJX setting a positive tone for the likes of Mercari on the read for consumer spending.
Toll Bros numbers from the day before lifting US Homebuilders should see the likes of Sumitomo Forestry rebound off yesterdays weak price action.
Japanese R/E names look increasingly vulnerable to downside ahead of Ueda's speech tomorrow which should point to a BoJ trajectory for future rate hikes.


Japan Morning Connection: Mercari, Sumitomo Forestry, Anritsu

<ul>
<li>TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.</li>
<li>Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.</li>
<li>Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.</li>
</ul>


TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.
Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.
Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.


Japan Morning Connection: Rohm, Anritsu, Shiseido

Japan

ANRITSU CORPORATION manufactures electronic systems and equipment for telecommunication equipment, measurement instruments, electronic devices, and industrial machinery.  The Company's products include communication network test equipment, and radio monitoring receivers.  Anritsu operates worldwide.

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Anritsu Corp (6754 JP)