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>CMP's 1H FY03/25 sales reached JPY62.9bn, with operating profit at JPY7.9bn, and net income at JPY8.3bn.</li><li>Sales growth driven by marine and industrial paints, while container paints declined; weak yen supported overall sales.</li><li>Revised FY03/25 forecast: Sales JPY128.0bn, operating profit JPY15.0bn, net income JPY13.0bn, dividend increased to JPY85 per share.</li></ul>

CMP's 1H FY03/25 sales reached JPY62.9bn, with operating profit at JPY7.9bn, and net income at JPY8.3bn.Sales growth driven by marine and industrial paints, while container paints declined; weak yen supported overall sales.Revised FY03/25 forecast: Sales JPY128.0bn, operating profit JPY15.0bn, net income JPY13.0bn, dividend increased to JPY85 per share.

Chugoku Marine Paints (4617 JP): Q2 FY03/25 flash update

<ul><li>CMP's Q1 FY03/25 sales were JPY29.1bn (+9.8% YoY), with notable increases in marine, industrial, and container paints.</li><li>Operating profit was JPY3.4bn (+62.3% YoY), recurring profit JPY3.9bn (+61.9% YoY), and net income JPY4.9bn (+186.2% YoY).</li><li>Profits increased in all regions, with sales up YoY in Japan, South Korea, and Southeast Asia, but down in Europe and the US.</li></ul>

CMP's Q1 FY03/25 sales were JPY29.1bn (+9.8% YoY), with notable increases in marine, industrial, and container paints.Operating profit was JPY3.4bn (+62.3% YoY), recurring profit JPY3.9bn (+61.9% YoY), and net income JPY4.9bn (+186.2% YoY).Profits increased in all regions, with sales up YoY in Japan, South Korea, and Southeast Asia, but down in Europe and the US.

Chugoku Marine Paints (4617 JP): Q1 FY03/25 flash update

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>Kansai Paint's shareholders aim to raise around US$291m via a secondary follow-on offering. This is a large deal to digest, at 34 days of three month ADV.  </li>
<li>The firm has also mentioned that it will conduct a share buyback of up to 8.2m shares worth approximately 3.5% of TSO or US$87.6m (JPY12bn). This will begin after settlement. </li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


Kansai Paint's shareholders aim to raise around US$291m via a secondary follow-on offering. This is a large deal to digest, at 34 days of three month ADV.  
The firm has also mentioned that it will conduct a share buyback of up to 8.2m shares worth approximately 3.5% of TSO or US$87.6m (JPY12bn). This will begin after settlement. 
In this note, we will talk about the placement and run the deal through our ECM framework.


Kansai Paint Placement - Hardly an Outstanding First Offering Since Listing

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Price and relative strength trends continue to improve for our international equal-weight Health Care Sector.<br>We recommend adding exposure, and provide charts on numerous actionable stocks across global markets. We also highlight actionable stocks within Materials, beyond metals &amp; mining stocks, that are outperforming. </p>

Price and relative strength trends continue to improve for our international equal-weight Health Care Sector. We recommend adding exposure, and provide charts on numerous actionable stocks across global markets. We also highlight actionable stocks within Materials, beyond metals &amp; mining stocks, that are outperforming. 

Global Strategy: Opportunities in Health Care & Materials Stocks

Japan

Chugoku Marine Paints, Ltd. produces ship-bottom paints for marine ships.  The Company markets its products in various countries in Asia, as well as in US and Holland.

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Chugoku Marine Paints (4617 JP)