Research from Mita Securities, Mita Securities

Mita Securities

Research from Mita Securities

Mita Securities provides a full scale diversified investment banking and financial services. A comprehensive investment banking department, specializes in rights offerings advisory, take-over bids agents, M&A etc. Including a proprietary trading desk, and wealth management department that offers brokerage, custody, real estate, and full proxy services.

Equity Bottom-Up

<ul><li>2Q sales below consensus. Announced downward revision of full-year guidance</li><li>The number of new projects was weak at 1,931 (+16.3% YoY, -18.2% QoQ). The QoQ drop was mostly due to seasonal factors, but the decline seems to be somewhat large.</li><li>Makuake Support Procurement service for professional buyers fully launched</li></ul>

2Q sales below consensus. Announced downward revision of full-year guidanceThe number of new projects was weak at 1,931 (+16.3% YoY, -18.2% QoQ). The QoQ drop was mostly due to seasonal factors, but the decline seems to be somewhat large.Makuake Support Procurement service for professional buyers fully launched

Makuake (4479): Announced Downward Revision of Full-Year Guidance

<ul><li>CVR declined despite an increase in the number of projects. However, this is not a new negative factor</li><li>Makuake (4479, the company) announced 1Q FY9/22 parent results. Total amount of pre-orders (GMV) was 5.369bn yen (+19.0% YoY, -7.5% QoQ)</li><li>KPIs: Focus on the effectiveness of CVR measures going forward</li></ul>

CVR declined despite an increase in the number of projects. However, this is not a new negative factorMakuake (4479, the company) announced 1Q FY9/22 parent results. Total amount of pre-orders (GMV) was 5.369bn yen (+19.0% YoY, -7.5% QoQ)KPIs: Focus on the effectiveness of CVR measures going forward

Makuake (4479): A Further Decline in CVR Is a Negative, but Not a New Factor

Japan

Makuake, Inc. develops software products. The Company produces a crowdfunding platform called Makuake which provides various support services supporting, product manufacturing supporting, and other services. Makuake provides its services throughout Japan.

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Makuake Inc (4479 JP)

Makuake (4479): Announced Downward Revision of Full-Year Guidance

2Q sales below consensus. Announced downward revision of full-year guidance. The number of new projects was weak at 1,931 (+16.3% YoY, -18.2% QoQ).

Mita Securities

Makuake (4479): A Further Decline in CVR Is a Negative, but Not a New Factor

CVR declined despite an increase in the number of projects. However, this is not a new negative factor. Makuake (4479, the company) announced 1Q...

Mita Securities

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