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

<h2>Company profile</h2><p>Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company had 584 stores in Japan (340 directly-owned stores and 229 FC stores) and 15 overseas stores (directly-owned). Sales in FY6/21 were 64.0bn yen.</p>

Company profileMonogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company had 584 stores in Japan (340 directly-owned stores and 229 FC stores) and 15 overseas stores (directly-owned). Sales in FY6/21 were 64.0bn yen.

Monogatari Corporation (3097): Preparing for Post-COVID Period

<h2>Company profile</h2><p><br>Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company had 584 stores in Japan (340 directly-owned stores and 229 FC stores) and 15 overseas stores (directly-owned). Sales in FY6/21 were 64.0bn yen.</p>

Company profile Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company had 584 stores in Japan (340 directly-owned stores and 229 FC stores) and 15 overseas stores (directly-owned). Sales in FY6/21 were 64.0bn yen.

Monogatari Corporation (3097): September Sales. King Is Strong

<h2>Summary</h2>
<p>Our top pick is S Foods. Points of interest are 1) its strength in meat wholesaling to restaurants, and 2) the US meat packer business benefiting from increased demand for restaurants in the US. We believe that these factors have not been fully factored into the current stock price</p>

Summary
Our top pick is S Foods. Points of interest are 1) its strength in meat wholesaling to restaurants, and 2) the US meat packer business benefiting from increased demand for restaurants in the US. We believe that these factors have not been fully factored into the current stock price

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

<p>In the ESG initiatives, it seems that many Japanese companies are more enthusiastic about E than about S and G. In the case of E, it is relatively easy for Japanese companies, which have a successful experience of setting technical numerical targets such as CO2 emission targets and improving the level of technology through bottom-up efforts led by engineers, to finally achieve high targets. Even with S and G, it is possible to set clear goals and timeframes for improvement without setting numerical targets. I have mentioned several times on this website that respect for human rights, or in other words, understanding of diversity, is crucial for creating a society where people from all different backgrounds can live comfortably. I would like to update the diversity initiatives that I discussed in my previous article "Japan’s Governance: Social and Human Rights.</p>

In the ESG initiatives, it seems that many Japanese companies are more enthusiastic about E than about S and G. In the case of E, it is relatively easy for Japanese companies, which have a successful experience of setting technical numerical targets such as CO2 emission targets and improving the level of technology through bottom-up efforts led by engineers, to finally achieve high targets. Even with S and G, it is possible to set clear goals and timeframes for improvement without setting numerical targets. I have mentioned several times on this website that respect for human rights, or in other words, understanding of diversity, is crucial for creating a society where people from all different backgrounds can live comfortably. I would like to update the diversity initiatives that I discussed in my previous article "Japan’s Governance: Social and Human Rights.

Japan's Governance: Diversity Is Strength

<p>Metrical has been analyzing the corporate governance of Japanese companies since 2015. We believe that G is the cornerstone of ESG because without the willingness of management, neither E nor S will move forward, but it is well known that both are elements that cannot be neglected in management strategies. In this article, I would like to focus on S in ESG.</p>

Metrical has been analyzing the corporate governance of Japanese companies since 2015. We believe that G is the cornerstone of ESG because without the willingness of management, neither E nor S will move forward, but it is well known that both are elements that cannot be neglected in management strategies. In this article, I would like to focus on S in ESG.

Japan's Governance: Social and Human Rights

Japan

Monogatari Corporation operates a restaurant chain.  The Company's restaurants include Japanese, BBQ, noodle, and Japanese-style pancake restaurant.

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Monogatari Corp (3097 JP)

Monogatari Corporation (3097): Preparing for Post-COVID Period

Company profile Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30,...

Mita Securities

Monogatari Corporation (3097): September Sales. King Is Strong

Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company...

Mita Securities

List of Covered Stocks (7 October 2021)

Our top pick is S Foods. Points of interest are 1) its strength in meat wholesaling to restaurants, and 2) the US meat packer business benefiting...

Mita Securities

Japan's Governance: Diversity Is Strength

Monogatari Corporation is one of the listed companies that is proactively working on diversity. I would like to update the diversity initiatives as...

Metrical Inc

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Monogatari Corporation (3097): Preparing for Post-COVID Period

Company profile Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30,...

Mita Securities

Monogatari Corporation (3097): September Sales. King Is Strong

Monogatari Corporation is a restaurant company based in Aichi Prefecture that operates “Yakiniku King” nationwide. As of June 30, 2021, the company...

Mita Securities

List of Covered Stocks (7 October 2021)

Our top pick is S Foods. Points of interest are 1) its strength in meat wholesaling to restaurants, and 2) the US meat packer business benefiting...

Mita Securities

Japan's Governance: Diversity Is Strength

Monogatari Corporation is one of the listed companies that is proactively working on diversity. I would like to update the diversity initiatives as...

Metrical Inc

Japan's Governance: Social and Human Rights

Some global companies express human rights policies and individual companies are promoting pioneering initiatives in areas such as diversity, as...

Metrical Inc