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>i-mobile reported FY07/24 revenue of JPY18.7bn (+14.1% YoY) and operating profit of JPY3.5bn (+0.7% YoY).</li><li>Consumer Service business FY07/24 revenue was JPY16.0bn (+20.1% YoY) and segment profit JPY3.4bn (+15.8% YoY).</li><li>FY07/25 projections: revenue JPY23.0bn (+22.8% YoY), operating profit JPY4.5bn (+26.8% YoY), net income JPY3.0bn (+21.9% YoY).</li></ul>

i-mobile reported FY07/24 revenue of JPY18.7bn (+14.1% YoY) and operating profit of JPY3.5bn (+0.7% YoY).Consumer Service business FY07/24 revenue was JPY16.0bn (+20.1% YoY) and segment profit JPY3.4bn (+15.8% YoY).FY07/25 projections: revenue JPY23.0bn (+22.8% YoY), operating profit JPY4.5bn (+26.8% YoY), net income JPY3.0bn (+21.9% YoY).

i-mobile Co Ltd (6535 JP): Full-year FY07/24 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

The Tokyo Stock Exchange (TSE) calculates Free-Float Weight (FFW) for each listed company and uses this value as a key component of TOPIX Index Calculation. For companies with "low liquidity" the FFW will be multiplied by a fixed liquidity factor of 0.75 to derive the final FFW used for index calculation. This affects both TSE-1 incumbents and new entrants (depending on the date of entry). Every April, the application of this liquidity factor is reviewed by the TSE for all TSE1 constituents. Last April, 71 constituents saw their liquidity factors removed causing an increase in their respective FFWs used for index calculation resulting in a TOPIX upweight.This situation opens up interesting opportunities for a basket trade. Below is a discussion regarding the key details of TSE's FFW Calculation Methodology and the candidate stocks which could potentially experience a change in the application of the liquidity factor (including some surprisingly big names).

The Tokyo Stock Exchange (TSE) calculates Free-Float Weight (FFW) for each listed company and uses this value as a key component of TOPIX Index Calculation. For companies with "low liquidity" the FFW will be multiplied by a fixed liquidity factor of 0.75 to derive the final FFW used for index calculation. This affects both TSE-1 incumbents and new entrants (depending on the date of entry). Every April, the application of this liquidity factor is reviewed by the TSE for all TSE1 constituents. Last April, 71 constituents saw their liquidity factors removed causing an increase in their respective FFWs used for index calculation resulting in a TOPIX upweight.This situation opens up interesting opportunities for a basket trade. Below is a discussion regarding the key details of TSE's FFW Calculation Methodology and the candidate stocks which could potentially experience a change in the application of the liquidity factor (including some surprisingly big names).   

TOPIX Index Upweights: The Big April Basket 2021

Japan

i-mobile Co., Ltd. provides online advertising services. The Company offers online advertising campaigning, reporting, animation, and median branding services for personal computers, mobile phones, and tablets. i-mobile conducts its business in Japan.

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i-mobile Co Ltd (6535 JP)