Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Sony Group Corporation delivered an all-around beat in the previous quarter.</li><li>However, consolidated operating income fell because the Financial Services segment's operating income fell.</li><li>Software sales for the quarter increased mostly due to the launching of the enticing third-party software and increased PS5 penetration.</li></ul>

Sony Group Corporation delivered an all-around beat in the previous quarter.However, consolidated operating income fell because the Financial Services segment's operating income fell.Software sales for the quarter increased mostly due to the launching of the enticing third-party software and increased PS5 penetration.

Sony Group Corporation: 3 Must-Know Drivers Responsible For Its Growth! - Financial Forecasts

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS: Equity Rally Continues SPX +1.5% with all Sectors Up; Tech Surges -&gt;NDX100 +2.2%;  China Banks Cuts Mortgage rates to shore up economy;  BitCoin lease on life w/US Court Ruling</li>
<li>JAPAN: NKY Futures +0.7% v Cash; USDJPY 145.9; Yen's buying power at 53 year low; Japan's jobless rate ticks up-risk for higher wages; SDF Head says Military Capabilities Inadequate</li>
<li>JAPAN X: Fast Retailing Aims to Dominate India with Manufacturing Expansion. With more locally manufactured products, Fasty will be better able to grow share in India. </li>
</ul>


OVERSEAS: Equity Rally Continues SPX +1.5% with all Sectors Up; Tech Surges -&gt;NDX100 +2.2%;  China Banks Cuts Mortgage rates to shore up economy;  BitCoin lease on life w/US Court Ruling
JAPAN: NKY Futures +0.7% v Cash; USDJPY 145.9; Yen's buying power at 53 year low; Japan's jobless rate ticks up-risk for higher wages; SDF Head says Military Capabilities Inadequate
JAPAN X: Fast Retailing Aims to Dominate India with Manufacturing Expansion. With more locally manufactured products, Fasty will be better able to grow share in India. 


Ohayo Japan|Equity Rally Continues; Tech Surges; JAPAN X: Fast Retailing Sets Its Sights on India

<ul>
<li>OVERSEAS.  US Major Equity Indices fall over night with Tech leading the sell off; Oil prices (and Stocks) in the other direction; Negative China CPI-Deflation confirmed. </li>
<li>JAPAN.  NKY Futures -0.2% vs Cash; USDJPY 143.7;  China to allow Group Tours to Japan; EARNINGS: Positive Inpex and Nexon: Strong earnings and Buyback; Sony  earnings down on M&amp;A hangover</li>
<li>NUGGET. Yesterday's CPI print confirmed that China in Deflation. Looking for more aggressive stimulus. Monetary unlikely to work. Looking for A BIG FISCAL STIMULUS(at some point). Remain cautious China related. </li>
</ul>


OVERSEAS.  US Major Equity Indices fall over night with Tech leading the sell off; Oil prices (and Stocks) in the other direction; Negative China CPI-Deflation confirmed. 
JAPAN.  NKY Futures -0.2% vs Cash; USDJPY 143.7;  China to allow Group Tours to Japan; EARNINGS: Positive Inpex and Nexon: Strong earnings and Buyback; Sony  earnings down on M&amp;A hangover
NUGGET. Yesterday's CPI print confirmed that China in Deflation. Looking for more aggressive stimulus. Monetary unlikely to work. Looking for A BIG FISCAL STIMULUS(at some point). Remain cautious China related. 


Ohayo Japan| SPX Sell-Off Led by Tech/Discretionary Stocks; NUGGET: China-Double Whammy on Deflation

<ul>
<li>OVERSEAS.  Fed job done; Inflation over- Stocks, Bonds Rally, USD falls; China new June new Credit growth accelerates- spurs Resources; Musk launches xAI ; Big Broker Upgrade to Euro Semi</li>
<li>JAPAN. NKY Futures +0.3% vs Cash; USDJPY 138.5; US CPI print drives yen strength - headwind to stocks; PayPay to list in US ?  GS Ups Sony to Conviction BUY</li>
<li>NUGGET. DX Consultant BayCurrent to report on Friday - Generative AI boom the next driver ? </li>
</ul>


OVERSEAS.  Fed job done; Inflation over- Stocks, Bonds Rally, USD falls; China new June new Credit growth accelerates- spurs Resources; Musk launches xAI ; Big Broker Upgrade to Euro Semi
JAPAN. NKY Futures +0.3% vs Cash; USDJPY 138.5; US CPI print drives yen strength - headwind to stocks; PayPay to list in US ?  GS Ups Sony to Conviction BUY
NUGGET. DX Consultant BayCurrent to report on Friday - Generative AI boom the next driver ? 


Ohayo Japan| Fed Job Done-Inflation Over, Stocks Rally; NUGGET: BayCurrent - To Leap from DX to AI ?

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Plus Alpha Consulting / Equity Capital Markets

<ul>
<li>Three shareholders of <a href="https://www.smartkarma.com/entities/plus-alpha-consulting-co-ltd" target="_blank" data-smartkarma-citation="entities:33441:1" rel="noopener">Plus Alpha Consulting (4071 JP)</a> (PAC) aim to raise around US$230m via selling over 26% of the company.</li>
<li>PAC was listed in 2021 and after a somewhat tepid initial performance it has been doing well over the past year.</li>
<li>In this note, we talk about the deal dynamics and run the deal through our ECM framework</li>
</ul>


Three shareholders of Plus Alpha Consulting (4071 JP) (PAC) aim to raise around US$230m via selling over 26% of the company.
PAC was listed in 2021 and after a somewhat tepid initial performance it has been doing well over the past year.
In this note, we talk about the deal dynamics and run the deal through our ECM framework


Plus Alpha Consulting Placement - Pulling Out All Stops for Deal Success as Insiders Are Selling

Japan

Sony Group Corporation manufactures and distributes electronics products and provides related solutions. The Company produces televisions, cameras, mobiles, audio and video products. game equipment, and more. Sony Group also engages in game production,  movie production, music production, and other businesses.

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Sony Corp (SONY US)

Sony Group Corporation: 3 Must-Know Drivers Responsible For Its Growth! - Financial Forecasts

Sony Group Corporation delivered an all-around beat in the previous quarter. However, consolidated operating income fell because the Financial...

Baptista Research

Ohayo Japan|Equity Rally Continues; Tech Surges; JAPAN X: Fast Retailing Sets Its Sights on India

US stocks rally; Tech surges. NKY Futures +0.7% v Cash; USDJPY 145.9; Yen's buying power at 53 year low; Japan's jobless rate ticks up; SDF Head...

Mark Chadwick

Ohayo Japan| SPX Sell-Off Led by Tech/Discretionary Stocks; NUGGET: China-Double Whammy on Deflation

US Equities sell off lead by Tech; NKY Futures -0.2% vs Cash; USDJPY 143.7; China to allow Group Tours to Japan; EARNINGS: Positive Inpex and...

Mark Chadwick

Ohayo Japan| Fed Job Done-Inflation Over, Stocks Rally; NUGGET: BayCurrent - To Leap from DX to AI ?

Fed job done - inflation defeated; NKY Futures +0.3% vs Cash; USDJPY 138.5; US CPI print drives yen strength - headwind to stocks; PayPay to list...

Mark Chadwick

Plus Alpha Consulting Placement - Pulling Out All Stops for Deal Success as Insiders Are Selling

Three shareholders of Plus Alpha Consulting (4071 JP) (PAC) aim to raise around US$230m via selling over 26% of the company.

Sumeet Singh

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