Recruit Holdings 3Q Update: Risks Have Started to Materialise
Recruit Holdings (6098 JP)’s 3Q FY03/20 results show early signs of the risks that we highlighted in our previous notes materialising. In our...
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Recruit Holdings [Alternative Data]: Should the Slowdown in Indeed Warrant a Discount?
A slowdown in the HR Technology business, which operates two popular employment websites, indeed.com (Indeed) and glassdoor.com (Glassdoor), is one...
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Z Holdings 3Q Update: A Lot of Hope but Little Substance
The market reacted positively for Z Holdings (4689 JP)’s 3Q FY03/20 results as Z’s share price increased by c.4% since the results were released...
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CyberAgent (4751 JP): Limited Upside in the Short-Run
Our bull thesis for CyberAgent has worked out well so far. CyberAgent’s share price has increased by c.29% since we last wrote about the company in...
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This Month in Blockchain & Cryptos: Bitcoin Price Rally in 2020, OverFuture's Digital IPO, & Vakt
Both Bitcoin and gold prices are rallying this year and this is probably a sign of a HEDGE against political instability in China, in our view....
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