IR & Research Intelligence, Sessa Investment Research

Sessa Investment Research

IR & Research Intelligence

Sponsored research focusing on Japanese small cap.

Equity Bottom-Up

<ul><li>Since 1H FY24/3 corresponds with the bottom of the current reset cycle, initial guidance for net sales is -9.3% YoY.</li><li>In addition to ongoing high electricity rates, depreciation expense is set to increase +51.1% YoY, and initial guidance for OP is -62.3% YoY.</li><li>On a cash flow basis, implied EBITDA is forecast to decline -29.1% YoY.</li></ul>

Since 1H FY24/3 corresponds with the bottom of the current reset cycle, initial guidance for net sales is -9.3% YoY.In addition to ongoing high electricity rates, depreciation expense is set to increase +51.1% YoY, and initial guidance for OP is -62.3% YoY.On a cash flow basis, implied EBITDA is forecast to decline -29.1% YoY.

Full Report - Torex Semiconductor (6616 JP)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<p><a href="https://www.smartkarma.com/entities/19772" target="_blank" data-smartkarma-citation="entities:19772:1">Torex Semiconductor Ltd (6616 JP)</a> is a small semiconductor company in Japan which specializes in analog power integrated circuits. On April 1st 2016 the company closed an investment to buy 51% of a small company specializing in MOSFETs, CMOS chips and bipolar ICs, spending ¥2bn in the process to consolidate the company. Revenue almost doubled in the fiscal year to March 2017 but OP didn't change much, but revenue is expected up 10.4% this year as well, which is auspicious, and OP is expected up…</p>

Torex Semiconductor Ltd (6616 JP) is a small semiconductor company in Japan which specializes in analog power integrated circuits. On April 1st 2016 the company closed an investment to buy 51% of a small company specializing in MOSFETs, CMOS chips and bipolar ICs, spending ¥2bn in the process to consolidate the company. Revenue almost doubled in the fiscal year to March 2017 but OP didn't change much, but revenue is expected up 10.4% this year as well, which is auspicious, and OP is expected up…

Torex Semiconductor (6616 JP) TOPIX Inclusion

Japan

Torex Semiconductor Ltd. designs and develops analog power management ICs. The Company offers products including voltage detectors, regulators, and DC/DC converters used in small electronic devices.

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Torex Semiconductor (6616 JP)

Full Report - Torex Semiconductor (6616 JP)

Fabless TOREX will invest ¥1.8bn in an overseas foundry’s fab to secure dedicated 8-inch capacity necessary for the development of new high...

Sessa Investment Research

Torex Semiconductor (6616 JP) TOPIX Inclusion

Torex Semiconductor Ltd (6616 JP) is a small semiconductor company in Japan which specializes in analog power integrated circuits. On April 1st...

Travis Lundy

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