'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<p style="text-align: center;"><strong>• LARGER CAP RESULTS - 8th APRIL •</strong></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/593/original/image_50653961221617916076677.png?1617916077" class="editor-image img-responsive" data-smartkarma-image-id="199593"></figure><div class="content-caption"> Source for all charts &amp; tables: Japan Analytics </div><p><strong>RESULTS</strong> - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> and <a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift (3697 JP)</a> had that distinction. <a href="https://www.smartkarma.com/entities/aeon-mall-co-ltd" target="_blank" data-smartkarma-citation="entities:5262:1" rel="noopener">AEON Mall (8905 JP)</a> and <a href="https://www.smartkarma.com/entities/lawson-inc" target="_blank" data-smartkarma-citation="entities:1040:1" rel="noopener">Lawson Inc (2651 JP)</a>, both of which had revised down in the recent weeks, anchored the bottom of the table.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/595/original/image_25682293741617916377763.png?1617916379" class="editor-image img-responsive" data-smartkarma-image-id="199595"></figure><p style="text-align: center;"><strong>• FORECASTS/REVISIONS - 8th APRIL •</strong></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/596/original/image_76440807551617916411847.png?1617916413" class="editor-image img-responsive" data-smartkarma-image-id="199596"></figure><p><strong>FORECASTS/REVISIONS</strong> - Conversely, 81% of annual forecasts were positive, with Aeon Mall and Lawson particularly optimistic about FY22. Fast Retailing, which only has six months left to forecast, was more circumspect. For the second year in a row, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I (3382 JP)</a> did not make an initial forecast with the full-year results. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/597/original/image_28112384961617916762514.png?1617916763" class="editor-image img-responsive" data-smartkarma-image-id="199597"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/598/original/image_37677060271617916798074.png?1617916799" class="editor-image img-responsive" data-smartkarma-image-id="199598"></figure>

• LARGER CAP RESULTS - 8th APRIL • Source for all charts &amp; tables: Japan Analytics RESULTS - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only Fast Retailing (9983 JP) and Shift (3697 JP) had that distinction. AEON Mall (8905 JP) and Lawson Inc (2651 JP), both of which had revised down in the recent weeks, anchored the bottom of the table.• FORECASTS/REVISIONS - 8th APRIL •FORECASTS/REVISIONS - Conversely, 81% of annual forecasts were positive, with Aeon Mall and Lawson particularly optimistic about FY22. Fast Retailing, which only has six months left to forecast, was more circumspect. For the second year in a row, Seven &amp; I (3382 JP) did not make an initial forecast with the full-year results. 

🇯🇵 JAPAN • Results & Revisions 04/​​​​08 - 7&I Fast Re and Hisamitsu Dreams

<p>Tuesday saw only one result posted for loss-making micro-cap building materials company <a href="https://www.smartkarma.com/entities/danto-holdings-corp" target="_blank" data-smartkarma-citation="entities:2961:1" rel="noopener">Danto (5337 JP)</a>, who also forecast a return to break-even for FY22. Elsewhere, there were fifteen 'irregular' forecast revisions, of which eleven scored positively.</p><p><a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical (4530 JP)</a>, the only larger-cap company announcing was one of the three 'losers'.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/196/625/original/2021-03-24_06-39-31.png?1616535589" class="editor-image img-responsive" data-smartkarma-image-id="196625"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/196/634/original/image?1616537912" class="editor-image img-responsive" data-smartkarma-image-id="196634"></figure></section><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div>

Tuesday saw only one result posted for loss-making micro-cap building materials company Danto (5337 JP), who also forecast a return to break-even for FY22. Elsewhere, there were fifteen 'irregular' forecast revisions, of which eleven scored positively.Hisamitsu Pharmaceutical (4530 JP), the only larger-cap company announcing was one of the three 'losers'.Source for all charts &amp; tables: Japan Analytics

🇯🇵 JAPAN • Results & Revisions 03/​​​​23 - No Relief for Hisamitsu

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<p>At its Monetary Policy Meeting that concluded on 19 March, the Bank of Japan (BOJ) announced that they would purchase ETFs and J-REIT as necessary with upper limits of about 12 trillion yen and about 180 billion yen respectively. While the upper limits were originally set as a temporary measure in response to the impact of COVID-19, the Bank will maintain them even after COVID-19 subsides.</p><p>The big change was the announcement that the BOJ would only purchase ETFs tracking the <a href="https://www.smartkarma.com/entities/tokyo-stock-exchange-tokyo-price-index-topix" target="_blank" data-smartkarma-citation="entities:22910:1" rel="noopener">Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX)</a>. This means no more flows to the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> and JPX Nikkei 400 ETFs.</p><p>From the increase in ETF AUM over calendar year 2020, we estimate that around 88% of the BOJ buying went into <a href="https://www.smartkarma.com/entities/tokyo-stock-exchange-tokyo-price-index-topix" target="_blank" data-smartkarma-citation="entities:22910:1" rel="noopener">Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX)</a> ETFs, with smaller amounts going into the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> and JPX Nikkei 400 ETFs.</p><p>While the impact of BOJ only buying <a href="https://www.smartkarma.com/entities/tokyo-stock-exchange-tokyo-price-index-topix" target="_blank" data-smartkarma-citation="entities:22910:1" rel="noopener">Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX)</a> linked ETFs is not material for single stocks in ADV terms, there could be a bigger impact on the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> constituents if other NKY ETF holders redeem their units and sell the underlying shares.</p><p>The NT ratio (NKY/TPX) had started to move lower over the last 15 trading days due to the shift from growth to value stocks. The BOJ announcement could take the ratio lower in the short term on a change in sentiment and short term flows due to repositioning of portfolios.</p><p><a href="https://www.smartkarma.com/entities/nissan-chemical-industries" target="_blank" data-smartkarma-citation="entities:4102:1" rel="noopener">Nissan Chemical Industries (4021 JP)</a>, <a href="https://www.smartkarma.com/entities/comsys-holdings-corp" target="_blank" data-smartkarma-citation="entities:20548:1" rel="noopener">Comsys Holdings (1721 JP)</a>, <a href="https://www.smartkarma.com/entities/konami-holdings-corp" target="_blank" data-smartkarma-citation="entities:13236:1" rel="noopener">Konami Holdings (9766 JP)</a>, <a href="https://www.smartkarma.com/entities/kikkoman-corp" target="_blank" data-smartkarma-citation="entities:11720:1" rel="noopener">Kikkoman Corp (2801 JP)</a> and <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> will be among the most negatively affected stocks, but the impact is quite small.</p><p><a href="https://www.smartkarma.com/entities/tokyo-stock-exchange-tokyo-price-index-topix" target="_blank" data-smartkarma-citation="entities:22910:1" rel="noopener">Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX)</a> stocks (that will have passive BOJ inflows of at least US$5m) that will have the largest impact in terms of ADV to trade are <a href="https://www.smartkarma.com/entities/hankyu-hanshin-holdings-inc" target="_blank" data-smartkarma-citation="entities:13058:1" rel="noopener">Hankyu Hanshin Holdings (9042 JP)</a>, <a href="https://www.smartkarma.com/entities/kintetsu-group-holdings-co-l" target="_blank" data-smartkarma-citation="entities:18507:1" rel="noopener">Kintetsu Group Holdings Co L (9041 JP)</a>, <a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a>, <a href="https://www.smartkarma.com/entities/bank-of-kyoto-ltd" target="_blank" data-smartkarma-citation="entities:5248:1" rel="noopener">Bank Of Kyoto (8369 JP)</a> and <a href="https://www.smartkarma.com/entities/hakuhodo-dy-holdings-inc" target="_blank" data-smartkarma-citation="entities:8736:1" rel="noopener">Hakuhodo Dy Holdings (2433 JP)</a>. </p>

At its Monetary Policy Meeting that concluded on 19 March, the Bank of Japan (BOJ) announced that they would purchase ETFs and J-REIT as necessary with upper limits of about 12 trillion yen and about 180 billion yen respectively. While the upper limits were originally set as a temporary measure in response to the impact of COVID-19, the Bank will maintain them even after COVID-19 subsides.The big change was the announcement that the BOJ would only purchase ETFs tracking the Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX). This means no more flows to the Nikkei 225 (NKY INDEX) and JPX Nikkei 400 ETFs.From the increase in ETF AUM over calendar year 2020, we estimate that around 88% of the BOJ buying went into Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX) ETFs, with smaller amounts going into the Nikkei 225 (NKY INDEX) and JPX Nikkei 400 ETFs.While the impact of BOJ only buying Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX) linked ETFs is not material for single stocks in ADV terms, there could be a bigger impact on the Nikkei 225 (NKY INDEX) constituents if other NKY ETF holders redeem their units and sell the underlying shares.The NT ratio (NKY/TPX) had started to move lower over the last 15 trading days due to the shift from growth to value stocks. The BOJ announcement could take the ratio lower in the short term on a change in sentiment and short term flows due to repositioning of portfolios.Nissan Chemical Industries (4021 JP), Comsys Holdings (1721 JP), Konami Holdings (9766 JP), Kikkoman Corp (2801 JP) and Fast Retailing (9983 JP) will be among the most negatively affected stocks, but the impact is quite small.Tokyo Stock Exchange Tokyo Price Index Topix (TPX INDEX) stocks (that will have passive BOJ inflows of at least US$5m) that will have the largest impact in terms of ADV to trade are Hankyu Hanshin Holdings (9042 JP), Kintetsu Group Holdings Co L (9041 JP), Hisamitsu Pharmaceutical Co (4530 JP), Bank Of Kyoto (8369 JP) and Hakuhodo Dy Holdings (2433 JP). 

BOJ Buying to Focus on TOPIX ETFs: Big Headline, Smaller Impact

<div><p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p></div><p>The best and worst pair from yesterday's announcements is <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; (3382 JP)</a>  and <a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical (4530 JP)</a>. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/164/154/original/2020-10-09_05-45-20.png?1602189939" class="editor-image img-responsive" data-smartkarma-image-id="164154"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/164/155/original/2020-10-09_05-46-28.png?1602190006" class="editor-image img-responsive" data-smartkarma-image-id="164155"></figure><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div><div>
<hr>
<p style="text-align: center;"><strong>DAILY STATS</strong></p>
</div><hr><div><p style="text-align: center;"><strong>26 Quarterly Results</strong></p></div><div><ul style="list-style-type: disc;">
<li><p><strong>Results Score:</strong> 46% Positive / 0% Neutral / 54% Negative</p></li>
<li><p><strong>Average Results Score Change:</strong> -2.0 points</p></li>
<li><p><strong>Average % Change in Revenue:</strong> -3.0% Quarter YoY / -0.1% Rolling TTM YoY </p></li>
<li><p><strong>Average Operating Profit Margin Change:</strong> -3.2ppt</p></li>
<li><p><strong>Percentage Making Quarterly Losses:</strong> 19%</p></li>
</ul></div><hr><div><p style="text-align: center;"><strong>18 Annual • 9 Interim Forecasts/Revisions</strong></p></div><div><ul style="list-style-type: disc;">
<li><p><strong>Annual Forecast/Revision Score:</strong> 33% Positive / 6% Neutral / 61% Negative</p></li>
<li><p><strong>Interim Forecast/Revision Score Change:</strong> 44% Positive / 0% Neutral / 56% Negative</p></li>
<li><p><strong>Average Forecast/Revision Score Change:</strong> -5.6 point</p></li>
</ul></div>

• BEST &amp; WORST •The best and worst pair from yesterday's announcements is Seven &amp; (3382 JP)  and Hisamitsu Pharmaceutical (4530 JP). Source for all charts &amp; tables: Japan Analytics

DAILY STATS
26 Quarterly Results
Results Score: 46% Positive / 0% Neutral / 54% Negative
Average Results Score Change: -2.0 points
Average % Change in Revenue: -3.0% Quarter YoY / -0.1% Rolling TTM YoY 
Average Operating Profit Margin Change: -3.2ppt
Percentage Making Quarterly Losses: 19%
18 Annual • 9 Interim Forecasts/Revisions
Annual Forecast/Revision Score: 33% Positive / 6% Neutral / 61% Negative
Interim Forecast/Revision Score Change: 44% Positive / 0% Neutral / 56% Negative
Average Forecast/Revision Score Change: -5.6 point


🇯🇵 JAPAN • Results & Revisions: 10/​​​​​​​​​08 - Shift, Seven&I/Lawson, Hisamitsu, Nippon Shokubai

<div>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/145/201/original/File%202020-07-10%204%2058%2031.jpeg?1594328270" class="editor-image img-responsive" data-smartkarma-image-id="145201"></figure><div class="content-caption">Source • Our World In Data</div>
<p><strong>COVID-19 RETURNS</strong> - The other 'result' reported yesterday was the record daily COVID-19 new case count for Tokyo of<strong> 224</strong> and a three-month nationwide high of <strong>354</strong>. Japan's 7-day rolling average is now close to that of Italy. Although hospital capacity is no longer an issue and only 216 people are in critical care, the pace of normalisation will have to be readjusted.</p>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/145/202/original/2020-07-10_06-33-39.png?1594330447" class="editor-image img-responsive" data-smartkarma-image-id="145202"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/145/203/original/2020-07-10_06-37-00.png?1594330642" class="editor-image img-responsive" data-smartkarma-image-id="145203"></figure><div class="content-caption">Source • Japan Analytics</div>
<p><strong>NEW LOWS</strong> - With three large retailers reporting weak quarters, both our Results Score and Interim Forecast/Revision Score reached new ten-year lows. The Annual Forecast/Revision Score is flattered by a high degree of forecasting reticence at present. The Cabinet Office Leading Indicator of Business Conditions suggests that these Scores will close the 'gap' to the 2009 lows in the next month.</p>
<p style="text-align: center;"><strong>DAILY STATS</strong></p>
</div><hr><div><p style="text-align: center;"><strong>31 Quarterly Results</strong></p></div><div><ul>
<li>
<strong>Results Score:</strong> 7 Positive / 0 Neutral / 24 Negative</li>
<li>
<strong>Average Results Score Change:</strong> -4.9</li>
<li>
<strong>Average % Change in Revenue:</strong> -9.6% Quarter YoY / +1.4% Rolling TTM YoY</li>
<li>
<strong>Average Operating Profit Margin Change: </strong>-0.9ppt</li>
</ul></div><hr><div><p style="text-align: center;"><br><strong>12 Annual • 3 Interim Forecasts/Revisions</strong></p></div><div><ul>
<li>
<strong>Annual Forecast/Revision Score:</strong> 5 Positive / 0 Neutral / 7 Negative</li>
<li>
<strong>Interim Forecast/Revision Score Change:</strong> 1 Positive / 0 Neutral / 2 Negative</li>
<li>
<strong>Average Forecast/Revision Score Change:</strong> -4.5</li>
</ul></div>


Source • Our World In Data
COVID-19 RETURNS - The other 'result' reported yesterday was the record daily COVID-19 new case count for Tokyo of 224 and a three-month nationwide high of 354. Japan's 7-day rolling average is now close to that of Italy. Although hospital capacity is no longer an issue and only 216 people are in critical care, the pace of normalisation will have to be readjusted.
Source • Japan Analytics
NEW LOWS - With three large retailers reporting weak quarters, both our Results Score and Interim Forecast/Revision Score reached new ten-year lows. The Annual Forecast/Revision Score is flattered by a high degree of forecasting reticence at present. The Cabinet Office Leading Indicator of Business Conditions suggests that these Scores will close the 'gap' to the 2009 lows in the next month.
DAILY STATS
31 Quarterly Results

Results Score: 7 Positive / 0 Neutral / 24 Negative

Average Results Score Change: -4.9

Average % Change in Revenue: -9.6% Quarter YoY / +1.4% Rolling TTM YoY

Average Operating Profit Margin Change: -0.9ppt
 12 Annual • 3 Interim Forecasts/Revisions

Annual Forecast/Revision Score: 5 Positive / 0 Neutral / 7 Negative

Interim Forecast/Revision Score Change: 1 Positive / 0 Neutral / 2 Negative

Average Forecast/Revision Score Change: -4.5


🇯🇵 JAPAN • Results & Revisions 9th July - COVID-19 Returns & New Lows

Japan

TSUMURA & CO. manufactures and sells pharmaceutical products including Chinese medicines.  The Company also manufactures and sells bathing products, cosmetics, and other healthcare and toiletry products.  Tsumura & Co. sells its products in Japan and overseas markets.

Nippon Shinyaku Co., Ltd. manufactures pharmaceutical and health foods products. The Company produces drugs for urinary, nerve, respiratory, and circulatory systems as well as analgesic and anti-inflammatory drugs.  Nippon Shinyaku also develops synthetic anti-bacterial agents.

Sumitomo Dainippon Pharma Co., Ltd. mainly manufactures and markets pharmaceuticals for human and veterinary use. The Company also produces and sells livestock feeds, food additives, and chemical products, as well as conducts clinical pathology tests for animals. Sumitomo Dainippon Pharma conducts businesses across worldwide.

Sosei Group Corporation is a holding company which was established through reorganization.  The Group companies are biopharmaceutical companies specializing in drug development.  Sosei Group enters into license agreements primarily with US, EU, and Japanese companies to market the licensed drugs in Japan and find alternative usage on such drugs.

Mochida Pharmaceutical Co., Ltd. produces and sells a variety of pharmaceuticals and skin care products.  The Company's main product is circulatory agents. Mochida Pharmaceutical also distributes medical instruments and equipment used for surgery and diagnosis.

TOWA PHARMACEUTICAL CO., LTD. produces generic drugs mainly for elderly.  The Company also wholesales medicine and medical products of other pharmaceuticals.

KISSEI PHARMACEUTICAL CO., LTD. manufactures and sells a variety of prescription drugs.  The Company's main products are for cholesterol, high blood pressure, digestion, allergy, circulatory and respiratory diseases, and Parkinson's disease.

KAKEN PHARMACEUTICAL CO., LTD. develops, produces, and sells pharmaceuticals and agrochemicals.  The Company's products are mainly for nervous, circulatory, respiratory, digestive, urinary, sensory, and metabolic systems.  Kaken Pharmaceutical also manufactures antibiotics and feed additives.  The Company as well manufactures air purifiers and operates real estate business.

TORII PHARMACEUTICAL CO., LTD. produces and sells pharmaceuticals.  The Company promotes medical products of its parent company, Japan Tobacco. Torii Pharmaceutical operates building maintenance and management business as well as shipping business.

ZERIA PHARMACEUTICAL CO., LTD. develops, manufactures, and markets a wide range of pharmaceutical products including prescription and over-the-counter drugs, health food products, and medical tools and appliances.  The Company also manufactures and wholesales cosmetics, soft drink, agrochemicals, and feed stuffs.

Inner Mongolia Furui Medical Science Co Ltd. manufactures and sells hepatology C hinese medicines. The Company's products include anti-fibrosis drug, anti fattyliver disease medicine, and liver fibrosis testing instruments.

Inner Mongolia Furui Medical Scie (300049 CH)

Yifan Pharmaceutical Co.,Ltd. manufactures fine biochemicals. The Company's main products include food additives, pharmaceuticals, fine chemical products, calcium pantothenate, and polymer materials. The Company also offers technology development and transfer, in addition to technical advice and services.

Apeloa Pharmaceutical Co., Ltd. manufactures and markets raw material medicines and preparations, including antitumour, antivirus, anti-infectious, cardiovascular, and other medicines.

Shenzhen Hepalink Pharmaceutical Co., Ltd researches, produces and sells heparin pharmaceuticals products.  The Company's products include heparin sodium active pharmaceutical ingredient.

Tonghua Golden-Horse Pharmaceutical Industry Co., Ltd. develops, manufactures and markets medicines, biochemical preparations, and health care products.

Tonghua Golden Horse Pharmcl Indu (000766 CH)

Neuren Pharmaceuticals Ltd. is a biopharmaceutical company.  The Company researches neurological and metabolic disorders.

Chongqing Taiji Industry (Group) Co., Ltd. manufactures and markets medicines, healthcare products, medical packing products, and medical instruments.  The Company also imports and exports Chinese medicine materials and medical packing materials.

Chongqing Taiji Industry (Group) A (600129 CH)

Jilin Aodong Pharmaceutical Group Co Ltd develops and manufactures traditional Chinese pharmaceuticals and raises deer. The Company's main products  include brain enhancement, blood enrichment, and other medicines. In addition, Jilin Aodong constructs and operates toll roads.

Jilin Aodong Medicine Industry Group Co (000623 CH)

SSY Group Limited researches, develops, manufactures, and sells a wide range of pharmaceutical products.  The Company sells non PVC soft bags, PP plastic bottles, and glass bottle infusions.

Supernus Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company develops and markets proprietary drugs for the treatment of central nervous system diseases and disorders. Supernus has developed a portfolio of clinical stage drugs to address neurological and psychological problems such as epilepsy, conduct disorder, Parkinson's disease, ADHD, depression and anxiety.

HISAMITSU PHARMACEUTICAL CO., INC. produces and sells pharmaceutical products. The Company's main product is anti-inflammatory analgesic plasters and poultices sold under the brand name Salonpas.  Hisamitsu Pharmaceutical exports its products to North America and Southeast Asia.  The Company also researches and develops antibacterial products through its related company, RRF.

Price Gauge
52-week Range	0.00 - 0.00
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P/E	0.00
Dividend (Yield)	0.00

Hisamitsu Pharmaceutical Co (4530 JP)

🇯🇵 JAPAN • Results & Revisions 04/08 - 7&I Fast Re and Hisamitsu Dreams

RESULTS - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only Fast Retailing (9983 JP) and Shift (3697...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 03/23 - No Relief for Hisamitsu

Tuesday saw only one result posted for loss-making micro-cap Danto (5337 JP). Elsewhere, there were fifteen 'irregular' forecast revisions, of...

Campbell Gunn

BOJ Buying to Focus on TOPIX ETFs: Big Headline, Smaller Impact

The BOJ will only buy ETFs linked to the TOPIX going forward. While this makes for a big headline, the impact on the stocks is much more muted....

Brian Freitas

🇯🇵 JAPAN • Results & Revisions: 10/08 - Shift, Seven&I/Lawson, Hisamitsu, Nippon Shokubai

• BEST & WORST • The best and worst pair from yesterday's announcements is DAILY STATS 21 Quarterly Results Results Score: 62%...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 9th July - COVID-19 Returns & New Lows

COVID-19 RETURNS - The other 'result' reported yesterday was the record daily COVID-19 new case count for Tokyo of 224 and a three-month...

Campbell Gunn

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

🇯🇵 JAPAN • Results & Revisions 04/​​​​08 - 7&I Fast Re and Hisamitsu Dreams

RESULTS - 48% of Thursday's 29 results announcements scored positively; however, of the largest caps, only Fast Retailing (9983 JP) and Shift (3697...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 03/​​​​23 - No Relief for Hisamitsu

Tuesday saw only one result posted for loss-making micro-cap Danto (5337 JP). Elsewhere, there were fifteen 'irregular' forecast revisions, of...

Campbell Gunn

BOJ Buying to Focus on TOPIX ETFs: Big Headline, Smaller Impact

The BOJ will only buy ETFs linked to the TOPIX going forward. While this makes for a big headline, the impact on the stocks is much more muted....

Brian Freitas

🇯🇵 JAPAN • Results & Revisions: 10/​​​​​​​​​08 - Shift, Seven&I/Lawson, Hisamitsu, Nippon Shokubai

• BEST & WORST • The best and worst pair from yesterday's announcements is DAILY STATS 21 Quarterly Results Results Score: 62%...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 9th July - COVID-19 Returns & New Lows

COVID-19 RETURNS - The other 'result' reported yesterday was the record daily COVID-19 new case count for Tokyo of 224 and a three-month...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 04/08 - 7&I Fast Re and Hisamitsu Dreams

🇯🇵 JAPAN • Results & Revisions 03/23 - No Relief for Hisamitsu

🇯🇵 JAPAN • Results & Revisions: 10/08 - Shift, Seven&I/Lawson, Hisamitsu, Nippon Shokubai