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)

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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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...

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