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>FY12/24 results: Sales JPY8.2bn (+1.4% YoY), operating profit JPY2.1bn (+58.7% YoY), net income JPY1.4bn (+123.5% YoY).</li><li>FY12/25 forecast: Sales JPY9.1bn (+10.7% YoY), operating profit JPY2.6bn (+19.0% YoY), net income JPY1.7bn (+24.6% YoY).</li><li>FY12/27 targets: Sales JPY10.7bn (+30.4% from FY12/24), operating profit JPY3.3bn (+53.8%), ROE 30% (23.6% in FY12/24).</li></ul>

FY12/24 results: Sales JPY8.2bn (+1.4% YoY), operating profit JPY2.1bn (+58.7% YoY), net income JPY1.4bn (+123.5% YoY).FY12/25 forecast: Sales JPY9.1bn (+10.7% YoY), operating profit JPY2.6bn (+19.0% YoY), net income JPY1.7bn (+24.6% YoY).FY12/27 targets: Sales JPY10.7bn (+30.4% from FY12/24), operating profit JPY3.3bn (+53.8%), ROE 30% (23.6% in FY12/24).

CELSYS (3663 JP): Full-year FY12/24 flash update

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>Quiddity's "<strong>Who is Ready</strong>" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>In the last few days, <a href="https://www.smartkarma.com/entities/sunwels-co-ltd" target="_blank" data-smartkarma-citation="entities:43702:1" rel="noopener">SUNWELS Co (9229 JP)</a> and <a href="https://www.smartkarma.com/entities/macbee-planet-inc" target="_blank" data-smartkarma-citation="entities:39863:1" rel="noopener">Macbee Planet (7095 JP)</a> have announced their moves to TSE prime which would eventually trigger a TOPIX Inclusion event.</li>
<li>
<a href="https://www.smartkarma.com/entities/macbee-planet-inc" target="_blank" data-smartkarma-citation="entities:39863:1" rel="noopener">Macbee Planet</a> was in our highest conviction list but <a href="https://www.smartkarma.com/entities/sunwels-co-ltd" target="_blank" data-smartkarma-citation="entities:43702:1" rel="noopener">SUNWELS Co</a> was not. In this insight, we have made some modifications to our methodology to improve future hit rates.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
In the last few days, SUNWELS Co (9229 JP) and Macbee Planet (7095 JP) have announced their moves to TSE prime which would eventually trigger a TOPIX Inclusion event.

Macbee Planet was in our highest conviction list but SUNWELS Co was not. In this insight, we have made some modifications to our methodology to improve future hit rates.


TOPIX Inclusions: Who Is Ready (July 2024)

<ul><li>Celsys reported 1H FY12/24 sales of JPY6.0bn (-2.5% YoY), with operating profit of JPY1.6bn (+73.9% YoY). </li><li>Content Production Solutions segment sales rose 20.2% YoY to JPY5.2bn, driven by CLIP STUDIO PAINT updates and promotions. </li><li>Content Distribution Solutions segment sales increased 4.0% YoY to JPY790mn, despite an operating loss of JPY522mn. </li></ul>

Celsys reported 1H FY12/24 sales of JPY6.0bn (-2.5% YoY), with operating profit of JPY1.6bn (+73.9% YoY). Content Production Solutions segment sales rose 20.2% YoY to JPY5.2bn, driven by CLIP STUDIO PAINT updates and promotions. Content Distribution Solutions segment sales increased 4.0% YoY to JPY790mn, despite an operating loss of JPY522mn. 

CELSYS (3663 JP): Q3 FY12/24 flash update

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>Our long-term pre-event candidate <a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a> has moved to TSE Prime. There will be a TOPIX Inclusion event on 30-Oct-24. The stock has outperformed TOPIX by 43% since <a href="https://www.smartkarma.com/insights/topix-inclusions-who-is-ready-july-2024" target="_blank" rel="noopener">July</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/pksha-technology-inc" target="_blank" data-smartkarma-citation="entities:26181:1" rel="noopener">PKSHA Technology (3993 JP)</a> and <a href="https://www.smartkarma.com/entities/genova-inc" target="_blank" data-smartkarma-citation="entities:43939:1" rel="noopener">GENOVA (9341 JP)</a> also moved to the TSE Prime market in September and will be having TOPIX Inclusion events at the end of October 2024.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
Our long-term pre-event candidate CELSYS (3663 JP) has moved to TSE Prime. There will be a TOPIX Inclusion event on 30-Oct-24. The stock has outperformed TOPIX by 43% since July.

PKSHA Technology (3993 JP) and GENOVA (9341 JP) also moved to the TSE Prime market in September and will be having TOPIX Inclusion events at the end of October 2024.


TOPIX Inclusions: Who Is Ready (Oct 2024)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<ul>
<li>12 days ago, <a href="https://www.smartkarma.com/profiles/janaghan-jeyakumar-cfa" target="_blank" data-smartkarma-citation="accounts:3173" rel="noopener">Janaghan Jeyakumar, CFA</a> published his September version of <a href="https://www.smartkarma.com/insights/topix-inclusions-who-is-ready-september-2024" target="_blank" data-smartkarma-citation="insights:158428" rel="noopener">TOPIX Inclusions: Who Is Ready (September 2024)</a>. His chosen name was <a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a>, a long-time TSE-Prime inclusion bet. </li>
<li>This week on the 18th, they announced they were going to enter TSE Prime on 25 September. This was a somewhat well-known known. They were interested and had been. </li>
<li>The stock popped 15% the next day. It's a small cap, but there is a lot of float.</li>
</ul>


12 days ago, Janaghan Jeyakumar, CFA published his September version of TOPIX Inclusions: Who Is Ready (September 2024). His chosen name was CELSYS (3663 JP), a long-time TSE-Prime inclusion bet. 
This week on the 18th, they announced they were going to enter TSE Prime on 25 September. This was a somewhat well-known known. They were interested and had been. 
The stock popped 15% the next day. It's a small cap, but there is a lot of float.


CELSYS (3663 JP) Finally Makes It to Prime Time (TOPIX Inclusion Next Month)

Japan

CELSYS, Inc. provides application software and digital services. The Company operates creators support business, digital books support business and planning of middleware and contents services. CELSYS also offers painting and drawing app services.

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CELSYS (3663 JP)

CELSYS (3663 JP): Full-year FY12/24 flash update

FY12/24 results: Sales JPY8.2bn (+1.4% YoY), operating profit JPY2.1bn (+58.7% YoY), net income JPY1.4bn (+123.5% YoY). FY12/25 forecast: Sales...

Shared Research

TOPIX Inclusions: Who Is Ready (July 2024)

We have revised our framework to improve the weightings for the key factors in the TSE Prime transfer requirements. Now we see 81 names that can...

Janaghan Jeyakumar, CFA

CELSYS (3663 JP): Q3 FY12/24 flash update

Celsys reported 1H FY12/24 sales of JPY6.0bn (-2.5% YoY), with operating profit of JPY1.6bn (+73.9% YoY). Content Production Solutions segment...

Shared Research

TOPIX Inclusions: Who Is Ready (Oct 2024)

The LONGs (Basket A) have outperformed the SHORTs (Basket B) modestly by 0.62% from 7th October to 30th October. On average, the LONGs are down...

Janaghan Jeyakumar, CFA

CELSYS (3663 JP) Finally Makes It to Prime Time (TOPIX Inclusion Next Month)

CELSYS has been in the process of moving to TSE Prime for two years, and finally gets there. It has been a long road. There should be 20d of ADV to...

Travis Lundy

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