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>1H FY03/25 results: Revenue JPY167.4bn (+1.3% YoY), Operating profit JPY5.4bn (-14.8% YoY), OPM 3.2% (-0.6pp YoY).</li><li>Regional revenue: Japan +20.5% YoY, North America +10.1% YoY; China -20.2% YoY, Asia -15.4% YoY.</li><li>FY03/25 forecast: Revenue JPY346.0bn (+0.4% YoY), Operating profit JPY14.2bn (-12.6% YoY), Dividend JPY74.0/share.</li></ul>

1H FY03/25 results: Revenue JPY167.4bn (+1.3% YoY), Operating profit JPY5.4bn (-14.8% YoY), OPM 3.2% (-0.6pp YoY).Regional revenue: Japan +20.5% YoY, North America +10.1% YoY; China -20.2% YoY, Asia -15.4% YoY.FY03/25 forecast: Revenue JPY346.0bn (+0.4% YoY), Operating profit JPY14.2bn (-12.6% YoY), Dividend JPY74.0/share.

G Tekt Corp (5970 JP): 1H FY03/25 flash update

<ul><li>Revenue increased 10.2% YoY to JPY86.8bn, with Japan leading at 31.9%, despite a 17.8% decline in China.</li><li>Operating profit rose 17.2% YoY to JPY3.1bn, driven by revenue growth, sales composition changes, and cost reductions.</li><li>Recurring profit and net income attributable to owners of the parent grew 9.4% and 11.5% YoY, respectively.</li></ul>

Revenue increased 10.2% YoY to JPY86.8bn, with Japan leading at 31.9%, despite a 17.8% decline in China.Operating profit rose 17.2% YoY to JPY3.1bn, driven by revenue growth, sales composition changes, and cost reductions.Recurring profit and net income attributable to owners of the parent grew 9.4% and 11.5% YoY, respectively.

G Tekt Corp (5970 JP): Q1 FY03/25 flash update

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yachiyo-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:6299:1" rel="noopener">Yachiyo Industry (7298 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/honda-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:154:1" rel="noopener">Honda Motor (7267 JP)</a>’s pre-conditional tender offer of JPY1,390 per share, a 17.5% premium to the undisturbed price.</li>
<li>Post-Completion, Honda will transfer a 81% stake to <a href="https://www.smrpbv.com/" target="_blank" rel="noopener">Samvardhana Motherson Automotive Systems Group BV</a>. The pre-conditions relate to various country approvals (China, the US, Brazil, and India).</li>
<li>The offer is expected to open in October. Achieving the 66.67% minimum ownership ratio requires a 32.6% minority acceptance rate which is doable as the offer is reasonable.   </li>
</ul>



Yachiyo Industry (7298 JP) has recommended Honda Motor (7267 JP)’s pre-conditional tender offer of JPY1,390 per share, a 17.5% premium to the undisturbed price.
Post-Completion, Honda will transfer a 81% stake to Samvardhana Motherson Automotive Systems Group BV. The pre-conditions relate to various country approvals (China, the US, Brazil, and India).
The offer is expected to open in October. Achieving the 66.67% minimum ownership ratio requires a 32.6% minority acceptance rate which is doable as the offer is reasonable.   


Yachiyo Industry (7298 JP): Honda’s Pre-Conditional Tender Offer

Japan

G-Tekt Corporation manufactures pressed automobile body parts. The Company also produces precision stamping parts for transmission.  G-TEKT exports its products globally.

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G Tekt Corp (5970 JP)