Category

Daily Briefs

Nov 16
0

Daily Brief United States: Fidelity National Info Serv, Vertex Pharmaceuticals, Cardinal Health, Marriott International, Illumina Inc, BP PLC, US Cellular, Lyondellbasell Indu Cl A, TotalEnergies, Bone Biologics and more

By | Daily Briefs, United States

In today’s briefing:

  • Fidelity Information Services: Inside FIS’s Strategic Moves in Core Banking – A Game-Changer for Financial Institutions! – Major Drivers
  • Vertex Pharmaceuticals: Its Efforts Towards Diversification with New Product Launches & Other Major Drivers
  • Cardinal Health: Can Its Strategic Acquisitions & Improving Market Position Be A Sustainable Growth Accelerator? – Major Drivers
  • Why Marriott International’s Expansion in Greater China Could Be a Game-Changer for Investors! – Major Drivers
  • Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! – Major Drivers
  • [Earnings Review] BP Posts Worst Earnings Since Q3 2020 as Weak Oil Prices Hit Margins
  • US Cellular: How Are They Executing Tower Business Expansion & Monetization! – Major Drivers
  • LyondellBasell Industries: Regional Market Adaptations & Demand Optimization & Other Major Drivers
  • [Earnings Review] TotalEnergies’ Profitability Weighed Down by Sharp Decline in Refining Margins
  • BBLG: Cash in Good Shape as Trials Continue

Fidelity Information Services: Inside FIS’s Strategic Moves in Core Banking – A Game-Changer for Financial Institutions! – Major Drivers

By Baptista Research

  • Fidelity National Information Services, Inc. (FIS) reported mixed results for the third quarter of 2024, demonstrating both strengths and potential challenges in their operations.
  • The company experienced a steady growth in adjusted revenue, which increased by 4% year-over-year.
  • This growth was primarily driven by an acceleration in recurring revenue across its segments, notably in Banking and Capital Markets, with both segments achieving margin expansion.

Vertex Pharmaceuticals: Its Efforts Towards Diversification with New Product Launches & Other Major Drivers

By Baptista Research

  • Vertex Pharmaceuticals recently reported its third-quarter earnings for 2024, presenting a picture of solid financial performance alongside significant advancements in its pipeline and product launches.
  • Financially, Vertex Pharmaceuticals reported a 12% year-over-year increase in revenue, reaching $2.77 billion for the third quarter.
  • This growth was underpinned by robust performance both in the U.S. and international markets, with U.S. revenues rising by 10% and international sales by 14%.

Cardinal Health: Can Its Strategic Acquisitions & Improving Market Position Be A Sustainable Growth Accelerator? – Major Drivers

By Baptista Research

  • Cardinal Health, Inc. reported strong financial and operational results for the first quarter of fiscal year 2025, primarily driven by its Pharmaceutical and Specialty Solutions segment.
  • CEO Jason Hollar highlighted the company’s effective management amidst a customer transition in its largest business segment, which still achieved a 16% growth in segment profit.
  • The demand across various pharmaceutical categories, notably specialty and consumer health, played a significant role in this growth.

Why Marriott International’s Expansion in Greater China Could Be a Game-Changer for Investors! – Major Drivers

By Baptista Research

  • Marriott International’s third-quarter financial performance for 2024 indicated a mixture of growth and existing challenges within the global hospitality landscape.
  • The company reported a 6% year-over-year increase in net rooms, underscoring its robust expansion efforts and strong development activities.
  • Global Revenue Per Available Room (RevPAR) rose 3% for the quarter, fueled by a 2.5% increase in Average Daily Rate (ADR), with the group segment leading the charge, posting a 10% rise in RevPAR, which highlights the sustained demand in this category.

Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! – Major Drivers

By Baptista Research

  • Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape.
  • The company reported quarterly revenue of $1.1 billion, matching its expectations but reflecting a 2% decrease year-over-year.
  • This decline was linked to reduced instrument sales due to the launch-year comparisons of the NovaSeq X series and effects of capital constraints globally.

[Earnings Review] BP Posts Worst Earnings Since Q3 2020 as Weak Oil Prices Hit Margins

By Suhas Reddy

  • BP’s revenue declined 11.3% YoY, missing estimates by 4.3%, while EPS fell 27.8% YoY, beating estimates by 3.8%. Underlying net profit dropped 31.2% YoY to USD 2.3 billion.
  • BP’s Q3 performance was impacted by weak oil prices, lower refining margins, and soft trading results, leading to its lowest underlying net profit since Q3 2020.
  • Total upstream production rose 3% YoY, with liquids production up 5%. BP also achieved 80% YoY growth in its EV charging business, selling 1 terawatt-hour of electricity globally.

US Cellular: How Are They Executing Tower Business Expansion & Monetization! – Major Drivers

By Baptista Research

  • The latest update from United States Cellular Corporation, reflected in their third-quarter 2024 earnings, provides key insights into the company’s current standing and strategic direction.
  • Several highlights from the reporting period illustrate a combination of potential opportunities and inherent challenges impacting the company’s operations and future outlook.
  • On the positive side, United States Cellular Corporation showed substantial progress in monetizing its spectrum assets, despite the broader market challenges.

LyondellBasell Industries: Regional Market Adaptations & Demand Optimization & Other Major Drivers

By Baptista Research

  • LyondellBasell Industries recently held its earnings call to discuss the financial results of the third quarter of 2024.
  • The earnings report provides several insights into the company’s financial health, market positioning, and strategic advancements.
  • The third quarter results indicate how LyondellBasell is navigating a challenging market environment marked by fluctuations in raw material costs and subdued demand in various sectors.

[Earnings Review] TotalEnergies’ Profitability Weighed Down by Sharp Decline in Refining Margins

By Suhas Reddy

  • In Q3, TotalEnergies beat revenue forecasts by 6.4% but missed EPS estimates by 3.7%. Revenue and adjusted net income fell by 2.8% YoY and 37%, respectively.
  • TotalEnergies’ average liquids price realisation fell 2.4% YoY, European refining margins dropped 84.7%, while LNG price realisation rose 3.7% YoY.
  • TotalEnergies’ Q3 cash flow fell 27% YoY to USD 6.8 billion. It announced USD 2 billion in Q4 buybacks and a 0.79 euro/share interim dividend.

BBLG: Cash in Good Shape as Trials Continue

By Zacks Small Cap Research

  • Bone Biologics is pursuing a better and more effective way of dealing with back pain requiring surgery by developing bone regeneration in spinal fusion using the recombinant human protein known as NELL-1/DBX, or NB1.
  • The company released its 3Q2024 financial results that showed good cash, low debt and good cost controls.
  • Recently, the company also announced the first human patients have been treated with NB1, marking an important milestone for BBLG.

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Nov 16
0

Daily Brief Japan: TSE Tokyo Price Index TOPIX, Paris Miki Holdings, Aucfan Co Ltd, Cross Marketing Group, Dai Ichi Cutter Kogyo Kk, en Japan Inc, Ferrotec Corp, Fast Fitness Japan Inc, Fields Corp, Careerlink and more

By | Daily Briefs, Japan

In today’s briefing:

  • Side Effects of Matching Numbers to Raise the Percentage of Female Board Members
  • Paris Miki Holdings (7455 JP): 1H FY03/25 flash update
  • Aucfan Co Ltd (3674 JP): Full-year FY09/24 flash update
  • Cross Marketing Group (3675 JP): Q1 FY06/25 flash update
  • Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update
  • en Japan Inc (4849 JP): 1H FY03/25 flash update
  • Ferrotec Corp (6890 JP): 1H FY03/25 flash update
  • Fast Fitness Japan Inc (7092 JP): 1H FY03/25 flash update
  • Fields Corp (2767 JP): 1H FY03/25 flash update
  • Careerlink (6070 JP): 1H FY03/25 flash update

Side Effects of Matching Numbers to Raise the Percentage of Female Board Members

By Aki Matsumoto

  • With external female board member resources under pressure, it will be extremely difficult to raise the percentage of female board members steadily at this rate.
  • The trump card for this is matching numbers. Increasingly, female board members with no management background or outside talent are being recruited to female managerial positions.
  • It is expected that fewer companies will move to Company with US type 3 Statutory Committees in order to avoid increasing the number of statutory executive officers.

Paris Miki Holdings (7455 JP): 1H FY03/25 flash update

By Shared Research

  • Sales increased by 3.6% YoY to JPY26.1bn, but operating profit decreased by 25.3% YoY to JPY1.2bn.
  • Paris Miki Inc. sales rose 4.2% YoY to JPY23.2bn, with 13 store openings and nine closures.
  • China subsidiary faced a sales decline of 0.9% YoY to JPY3.0bn, resulting in an operating loss.

Aucfan Co Ltd (3674 JP): Full-year FY09/24 flash update

By Shared Research

  • The company restructured its business segments in FY09/24, renaming Inventory Management Solution to Solution and Merchandise Distribution Platform to Platform.
  • Overall sales decreased by 5.9% YoY, while net income attributable to owners increased by 997.7% YoY.
  • NETSEA’s sales and operating profit increased YoY due to reduced advertising expenses, despite a decline in GMV.

Cross Marketing Group (3675 JP): Q1 FY06/25 flash update

By Shared Research

  • Revenue increased by 20.1% YoY to JPY6.8bn, with Digital Marketing contributing JPY3.1bn, Data Marketing JPY2.3bn, and Insight JPY1.4bn.
  • Operating profit reached JPY356mn, a significant improvement from a loss of JPY17mn in Q1 FY06/24, driven by higher gross profit.
  • Overseas operations revenue grew 16% YoY to JPY1.2bn, with forex negatively impacting by JPY30mn, excluding effects, growth was 24% YoY.

Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update

By Shared Research

  • Q1 FY06/25 revenue declined 6.7% YoY due to subsidiary exclusion, with operating profit falling 27.9% from increased costs.
  • FY06/25 forecast projects revenue of JPY21.0bn (+0.4% YoY) and operating profit of JPY2.5bn (+1.8% YoY).
  • Company focuses on expressway projects, sales in building maintenance, and R&D investment to enhance technical capabilities.

en Japan Inc (4849 JP): 1H FY03/25 flash update

By Shared Research

  • Consolidated sales declined to JPY32.5bn (-1.7% YoY), while net income attributable to owners reached JPY5.2bn (+570.2% YoY).
  • HR-Tech engage segment reported sales of JPY4.4bn (+45.3% YoY) with an operating loss of JPY1.6bn.
  • Human Resource Platform segment achieved JPY4.1bn in sales (+17.8% YoY) and an operating profit of JPY601mn.

Ferrotec Corp (6890 JP): 1H FY03/25 flash update

By Shared Research

  • The company achieved 112.6% of its sales target, leading to a revision of the full-year forecast.
  • Semiconductor Equipment-related business saw increased sales in vacuum products and semiconductor manufacturing materials, boosting segment performance.
  • The company raised its sales forecast by JPY30.0bn, anticipating strong demand from Chinese manufacturers in 2H FY03/25.

Fast Fitness Japan Inc (7092 JP): 1H FY03/25 flash update

By Shared Research

  • Revenue increased by 10.4% YoY to JPY8.6bn, with directly operated clubs contributing JPY5.3bn and franchise revenue JPY3.1bn.
  • Operating profit decreased by 28.2% YoY to JPY1.4bn, impacted by higher costs and growth investments, especially overseas.
  • Membership count rose to 935,000, with 33 new clubs opened and three closed, totaling 1,163 clubs.

Fields Corp (2767 JP): 1H FY03/25 flash update

By Shared Research

  • Group sales were JPY45.8bn (-31.7% YoY), with net income attributable to owners of the parent at JPY2.8bn (-31.5% YoY).
  • Content and Digital business sales reached JPY8.0bn (+7.9% YoY), driven by Tsuburaya Productions’ overseas revenue growth of 34.0% YoY.
  • PS business reported sales of JPY37.2bn (-37.0% YoY), with 48,636 amusement machines sold, down 77,389 units YoY.

Careerlink (6070 JP): 1H FY03/25 flash update

By Shared Research

  • Revenue decreased YoY across BPO and CRM businesses, but operating profit increased due to cost reduction efforts.
  • New partnerships with seven local governments expanded client base to 177, focusing on economic stimulus projects.
  • Revenue rose in food processing and manufacturing, driven by strong orders and efficient SG&A expense management.

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Nov 16
0

Most Read: Seven & I Holdings, Kansai Electric Power, Malaysia Airports Holdings, Zomato, Nec Networks & System Integr, Macromill, Inc, Ping An Healthcare and Technology, SK Inc, SBI FinTech Solutions, Samsung Electronics and more

By | Daily Briefs, Most Read

In today’s briefing:

  • 7&I (3382 JP) – An ITO Family MBO? With Itochu? At ¥9trln? Maybe. Information Is Scarce
  • KEPCO (9503 JP): Index Implications of US$3.5bn Primary + Secondary Offering
  • Malaysia Airports (MAHB MK): Mavcom Approval. Sort Of
  • INDIA: Index Changes Due to the 45 New Additions to the F&O Segment
  • NEC Network (1973 JP) Tender Offer – The Landscape Has Fully Changed
  • CVC Offers ¥1150 for Macromill (3978) – Wrong Price, Wrong Register – Expect Activism or An Overbid
  • 2025 High Conviction: PA Gooddoctor (1833 HK) – The Arb Is To Take The Stock
  • Korea Pushes to Expand Director’s Duty of Loyalty: Focus on Hostile Takeover-Risk Conglomerates
  • SBI Fintech Solutions: Tender Offer and Delisting
  • Samsung Electronics: A Massive 10 Trillion Won Share Buyback Program

7&I (3382 JP) – An ITO Family MBO? With Itochu? At ¥9trln? Maybe. Information Is Scarce

By Travis Lundy

  • Yesterday a news article from Bloomberg suggested 7&i was “considering” an MBO. Seven & I Holdings (3382 JP) later confirmed they had received a non-binding proposal from ITO Junro/family.
  • The initial number was ¥9trln. If market cap? High. If EV, too low. That would have implied a price just over the first “grossly inadequate” ACT price.
  • There is a lot we don’t know. This changes the landscape. It probably shifts the range trade, but it will shift more when we get more clarity on ITO-san’s price.

KEPCO (9503 JP): Index Implications of US$3.5bn Primary + Secondary Offering

By Brian Freitas

  • Kansai Electric Power (9503 JP) is looking to raise up to US$3.5bn via a primary offering and a sale of Treasury shares. Pricing date is between 26-29 November.
  • Kansai Electric Power (9503 JP) is among the better performing stocks from the Electric Utilities industry and trades at higher valuations compared to its peers.
  • There will be a fair bit of passive buying with around 29% of the offering being bought at the time of settlement of the shares.

Malaysia Airports (MAHB MK): Mavcom Approval. Sort Of

By David Blennerhassett

  • On the 30th October, Malaysian Aviation Commission (Mavcom) said Gateway Development Alliance (GDA)’s proposed privatisation of Malaysia Airports  (MAHB MK) did not infringe on the Malaysian Aviation Commission Act 2015.
  • Mavcom followed that statement with it “welcomes any party to submit written feedback on the proposed decision by email .. by ..  Nov 6”. So, it’s been approved or not?
  • In addition, there was conjecture earlier this year whether Mavcom, which will shortly be subsumed by the Civil Aviation Authority of Malaysia, had the clout to prevent the MAHB deal.  

INDIA: Index Changes Due to the 45 New Additions to the F&O Segment

By Brian Freitas

NEC Network (1973 JP) Tender Offer – The Landscape Has Fully Changed

By Travis Lundy

  • On 29-October, NEC Corp (6701 JP) announced a low-ball TOB to buy out subsidiary Nec Networks & System Integr (1973 JP). It deserved activism, but finding an activist was tough.
  • On 7 November, it got an activist, and I wrote on 8-November the Landscape Had Changed that they might have bought 6mm shares more in 5 days. They bought 8.4mm.
  • The Landscape Has FULLY Changed. The details now matter quite a bit. NEC has two basic choices. Neither are that palatable. But Target Advisor DCF was ¥3,073-4,688 without synergies.

CVC Offers ¥1150 for Macromill (3978) – Wrong Price, Wrong Register – Expect Activism or An Overbid

By Travis Lundy

  • Today, CVC announced a deal to buy out Macromill, Inc (3978 JP). It is agreed and supported by management and the Board. 
  • The shareholder register on this stock is wide open. It is not burdened by crossholders. It IS burdened by 7 large active holders who have 55%. 
  • Those holders may complain about the process, the transparency, and the low price. This could be a target for an activist or a strategic overbidder.

2025 High Conviction: PA Gooddoctor (1833 HK) – The Arb Is To Take The Stock

By David Blennerhassett

Korea Pushes to Expand Director’s Duty of Loyalty: Focus on Hostile Takeover-Risk Conglomerates

By Sanghyun Park

  • A Democratic Party insider noted some proposals need legal tweaks, so the December 10 deadline may slip, but they’re set on passing the expanded director loyalty duty.
  • FKI analyzed top conglomerates’ shareholder structures and found four of the top 10 facing substantial risks.
  • We need more clarity before jumping in, but with MBK driving Korea’s hostile M&A scene and the Commercial Act amendments, local chaebols facing control battles are a key KOSPI theme.

SBI Fintech Solutions: Tender Offer and Delisting

By Douglas Kim

  • After the market close on 14 November, SBI Fintech Solutions announced that the Japanese financial group SBI is pushing for a tender offer and delisting of SBI Fintech Solutions.
  • The tender offer price is 5,000 won per share, which is 36% higher than the closing price on 14 November. The tender offer size amount is about 26 billion won.
  • Given the relatively solid upside, we believe SBI Holdings is likely to successfully complete this tender offer and take the company private. 

Samsung Electronics: A Massive 10 Trillion Won Share Buyback Program

By Douglas Kim

  • Samsung Electronics (005930 KS) announced a massive share buyback program worth 10 trillion won which represents 3.1% of its market cap.
  • Of this total amount, about 3 trillion won will be purchased and cancelled in the next three months. This will include 50,144,628 common shares and 6,912,036 preferred shares.
  • We believe that this massive share buyback and cancellation is likely to boost Samsung Electronics’ share price resulting in a strong outperformance relative to KOSPI in the next 6-12 months. 

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Nov 16
0

Daily Brief TMT/Internet: Samsung Electronics, Samsung Electronics Pref Shares, Fidelity National Info Serv, LG Energy Solution, Compal Electronics, US Cellular, Ai Holdings, PVA TePla, QD Laser, Softbank Group and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Samsung Electronics: A Massive 10 Trillion Won Share Buyback Program
  • Sammy’s Massive Buyback: Play the Pref Compression, Not Outright Long
  • Fidelity Information Services: Inside FIS’s Strategic Moves in Core Banking – A Game-Changer for Financial Institutions! – Major Drivers
  • Negative Trump Trade: Korean Rechargeable Battery Sector
  • Tech Supply Chain Tracker (16-Nov-2024): Compal eyes Nvidia AI server by 2025.
  • US Cellular: How Are They Executing Tower Business Expansion & Monetization! – Major Drivers
  • Ai Holdings (3076 JP): Q1 FY06/25 flash update
  • PVA TePla – Lower estimates after Q3 results
  • QD Laser (6613 JP): 1H FY03/25 flash update
  • Softbank (9984 JP): The Importance of Arm Is More a Curse than a Blessing

Samsung Electronics: A Massive 10 Trillion Won Share Buyback Program

By Douglas Kim

  • Samsung Electronics (005930 KS) announced a massive share buyback program worth 10 trillion won which represents 3.1% of its market cap.
  • Of this total amount, about 3 trillion won will be purchased and cancelled in the next three months. This will include 50,144,628 common shares and 6,912,036 preferred shares.
  • We believe that this massive share buyback and cancellation is likely to boost Samsung Electronics’ share price resulting in a strong outperformance relative to KOSPI in the next 6-12 months. 

Sammy’s Massive Buyback: Play the Pref Compression, Not Outright Long

By Sanghyun Park

  • The stock’s still below 1x PBR. But with Samsung’s tech gaps and slowdowns, going all-in on an outright long here off the back of this buyback feels way too early
  • The key is whether pref discounts tighten like 2015, but with a more balanced buyback this time and narrowing pref discounts, making a pref rally harder to predict short-term.
  • The goal’s the same as 2015—boosting the family’s control. If the remaining buyback leans pref-heavy, it could further tighten pref discounts, creating a potential opportunity to play the compression.

Fidelity Information Services: Inside FIS’s Strategic Moves in Core Banking – A Game-Changer for Financial Institutions! – Major Drivers

By Baptista Research

  • Fidelity National Information Services, Inc. (FIS) reported mixed results for the third quarter of 2024, demonstrating both strengths and potential challenges in their operations.
  • The company experienced a steady growth in adjusted revenue, which increased by 4% year-over-year.
  • This growth was primarily driven by an acceleration in recurring revenue across its segments, notably in Banking and Capital Markets, with both segments achieving margin expansion.

Negative Trump Trade: Korean Rechargeable Battery Sector

By Douglas Kim

  • With Trump becoming the next President of the United States, we explain why the rechargeable battery sector in Korea is likely to get further battered in the coming months. 
  • Trump administration could eliminate or significantly slash the $7,500 consumer tax credit for electric vehicle (EV) purchases, which is one of the key provisions of the Inflation Reduction Act (IRA).
  • We expect the sell-side to further cut their earnings estimates on the key key names in the Korean rechargeable battery sector in the coming months.

Tech Supply Chain Tracker (16-Nov-2024): Compal eyes Nvidia AI server by 2025.

By Tech Supply Chain Tracker

  • Compal and Nvidia form partnership for AI server collaboration in 2025, expanding capabilities in the tech industry.
  • Taiwan’s upcoming AI Basic Act in 2025 prompts consideration of four competing versions, highlighting the significance of AI regulation.
  • Foxlink launches Taiwan’s largest AI supercomputing hub for SMEs, showcasing the country’s advancements in technology for small businesses.

US Cellular: How Are They Executing Tower Business Expansion & Monetization! – Major Drivers

By Baptista Research

  • The latest update from United States Cellular Corporation, reflected in their third-quarter 2024 earnings, provides key insights into the company’s current standing and strategic direction.
  • Several highlights from the reporting period illustrate a combination of potential opportunities and inherent challenges impacting the company’s operations and future outlook.
  • On the positive side, United States Cellular Corporation showed substantial progress in monetizing its spectrum assets, despite the broader market challenges.

Ai Holdings (3076 JP): Q1 FY06/25 flash update

By Shared Research

  • Sales decreased by 6.3% YoY, with operating profit down 24.4% and recurring profit down 55.5% YoY.
  • Net income attributable to owners increased 470.0% YoY due to a gain on negative goodwill from Iwatsu Electric acquisition.
  • Segment sales varied: Design increased 11.7% YoY, while Others decreased 12.5% YoY with profit down 55.9%.

PVA TePla – Lower estimates after Q3 results

By Edison Investment Research

PVA TePla (PVA) reported a 2.3% y-o-y decrease in sales in Q324 and management has set guidance at the lower end of the range for both sales (€270–90m) and EBITDA (€47–51m). Metrology sales held up nicely in the quarter, while sales in the other activities in the semiconductor division showed a decrease. We have lowered our estimates modestly for both FY24 and FY25 given a more challenging expected market environment in wafer fabrication for the semiconductor industry. On our new estimates, PVA trades at an EV/EBITDA FY25e multiple of 3.7x, which we believe is very undemanding.

QD Laser (6613 JP): 1H FY03/25 flash update

By Shared Research

  • In Q2 FY03/25, revenue was JPY559mn (-12.4% YoY), with a gross profit of JPY156mn (-25.5% YoY).
  • Full-year FY03/25 forecast: revenue JPY1.2bn (-7.4% YoY), operating loss JPY605mn, recurring loss JPY592mn, net loss JPY596mn.
  • FY03/27 forecast: revenue JPY1.9bn, operating profit JPY7mn, recurring profit JPY4mn, net income JPY0mn.

Softbank (9984 JP): The Importance of Arm Is More a Curse than a Blessing

By Victor Galliano

  • SoftBank group (SBG) relies mainly on Arm re-rating further for NAV growth, yet Arm’s valuation already discounts, in our view, much growth potential; SBG and Arm shares are highly correlated
  • JPY-USD FX has weakened recently, but the potential for BoJ monetary tightening could reverse this trend impacting SBG, given the high skew of USD assets relative to USD liabilities
  • The Vision Funds are hampered by few private company exits; SBG’s NAV discount remains high, but its dependence on Arm is a major risk; we turn negative on SBG

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Nov 16
0

Daily Brief Health Care: Cardinal Health, Illumina Inc, Vertex Pharmaceuticals, BioNTech , Cybin , Hologic Inc, Mrt Inc/Jp, Nanocarrier, Protalix BioTherapeutics , Avantor and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • Cardinal Health: Can Its Strategic Acquisitions & Improving Market Position Be A Sustainable Growth Accelerator? – Major Drivers
  • Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! – Major Drivers
  • Vertex Pharmaceuticals: Its Efforts Towards Diversification with New Product Launches & Other Major Drivers
  • BioNTech: Strategic Partnerships & Innovation Driving Our ‘Outperform’ Rating!
  • Cybin, Inc – CYB003 Phase 3 Trial Initiated
  • Hologic Inc.: Expanding Diagnostic Assay Portfolio For A Competitive Edge! – Major Drivers
  • Mrt Inc/Jp (6034 JP): Q3 FY12/24 flash update
  • Nanocarrier (4571 JP): 1H FY03/25 flash update
  • PLX: Self-Sustaining Rise to Lead in Renal Rare Disease
  • Avantor Inc.: Its Expansion in Bioprocessing Driving Our ‘Outperform’ Rating! – Major Drivers

Cardinal Health: Can Its Strategic Acquisitions & Improving Market Position Be A Sustainable Growth Accelerator? – Major Drivers

By Baptista Research

  • Cardinal Health, Inc. reported strong financial and operational results for the first quarter of fiscal year 2025, primarily driven by its Pharmaceutical and Specialty Solutions segment.
  • CEO Jason Hollar highlighted the company’s effective management amidst a customer transition in its largest business segment, which still achieved a 16% growth in segment profit.
  • The demand across various pharmaceutical categories, notably specialty and consumer health, played a significant role in this growth.

Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! – Major Drivers

By Baptista Research

  • Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape.
  • The company reported quarterly revenue of $1.1 billion, matching its expectations but reflecting a 2% decrease year-over-year.
  • This decline was linked to reduced instrument sales due to the launch-year comparisons of the NovaSeq X series and effects of capital constraints globally.

Vertex Pharmaceuticals: Its Efforts Towards Diversification with New Product Launches & Other Major Drivers

By Baptista Research

  • Vertex Pharmaceuticals recently reported its third-quarter earnings for 2024, presenting a picture of solid financial performance alongside significant advancements in its pipeline and product launches.
  • Financially, Vertex Pharmaceuticals reported a 12% year-over-year increase in revenue, reaching $2.77 billion for the third quarter.
  • This growth was underpinned by robust performance both in the U.S. and international markets, with U.S. revenues rising by 10% and international sales by 14%.

BioNTech: Strategic Partnerships & Innovation Driving Our ‘Outperform’ Rating!

By Baptista Research

  • BioNTech’s third quarter of 2024 earnings report reflects a balanced mix of progress in its oncology pipeline and its ongoing responses to the changing COVID-19 landscape.
  • The company has achieved notable advancements in both its COVID-19 vaccine franchise and its oncology development programs, showcasing a commitment to innovation while navigating the complexities of the healthcare market.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Cybin, Inc – CYB003 Phase 3 Trial Initiated

By Water Tower Research

  • CYB003’s Phase 3 trial begins. In just three years since filing its Investigational New Drug Application (IND) for its adjunctive CYB003 program, now labeled PARADIGMTM (an allusion to CYB003’s potential for a paradigm shift in treating depression), Cybin has initiated the first of three Phase 3 pivotal efficacy studies.
  • Pivotal first study is underway, with top-line results expected in 2026.
  • The first study (named APPROACH) is a two-arm study involving a targeted 220 participants with moderate to severe MDD (MADRS≥24) who are on a stable dose of antidepressant medication but are responding inadequately.

Hologic Inc.: Expanding Diagnostic Assay Portfolio For A Competitive Edge! – Major Drivers

By Baptista Research

  • Hologic recently announced its financial results for the fourth quarter and fiscal year 2024, showing both strengths and challenges.
  • The total revenue in the fourth quarter was $987.9 million, marking a 4.2% increase compared to the previous year, while organic revenue growth, excluding COVID-related sales, was 5%.
  • Non GAAP earnings per share (EPS) grew by 13.5% to $1.01.

Mrt Inc/Jp (6034 JP): Q3 FY12/24 flash update

By Shared Research

  • Cumulative Q3 FY12/24 revenue was JPY3.2bn, a 27.5% YoY decrease, impacted by the termination of COVID-19 operations.
  • The company recorded a cumulative Q3 FY12/24 operating loss of JPY35mn, compared to a profit of JPY942mn in FY12/23.
  • Medical Personnel Services revenue was JPY2.3bn (-3.4% YoY), and Other Services revenue was JPY846mn (-56.8% YoY).

Nanocarrier (4571 JP): 1H FY03/25 flash update

By Shared Research

  • The company reported sales of JPY8mn, a 91.5% YoY decline, with an operating loss of JPY374mn.
  • Revised FY03/25 forecast shows sales of JPY108mn, R&D expenses of JPY561mn, and a net loss of JPY994mn.
  • The company shifted focus to mRNA drug development, enhancing collaborations and launching a contract research business.

PLX: Self-Sustaining Rise to Lead in Renal Rare Disease

By Zacks Small Cap Research

  • Protalix is a clinical and commercial pharmaceutical company using its proprietary ProCellEx plant-based expression system to pro duce thera peutic proteins for global markets.
  • The company has two commer cialized products, Elelyso that is marketed by Fiocruz in Brazil & Pfizer in the rest of the world for Gaucher Disease and Elfabrio which was approved in May 2023.
  • Chiesi Rare Disease will commercialize Elfabrio globally.

Avantor Inc.: Its Expansion in Bioprocessing Driving Our ‘Outperform’ Rating! – Major Drivers

By Baptista Research

  • Avantor Inc. reported another quarter of stability and mixed results in its financial performance for the third quarter of 2024.
  • The company posted sequential revenue growth, yet faced year-over-year declines, with organic revenue dipping by 0.7%.
  • Total revenue for the quarter was $1.71 billion, reflecting both challenges and strengths across its business segments.

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Nov 16
0

Daily Brief Utilities: Kontrol Technologies , Renewable Japan, Spruce Power Holding and more

By | Daily Briefs, Utilities Sector

In today’s briefing:

  • KNR: Still Finding Its Footing After Dispositions
  • Renewable Japan (9522 JP): Q3 FY12/24 flash update
  • Spruce Power Holding Corporation – Newly Announced Acquisition and Spruce Pro MoU

KNR: Still Finding Its Footing After Dispositions

By Atrium Research

  • Kontrol Technologies reported Q3 financial results yesterday after market close that were softer than expected.
  • Revenue came in at $1.7M vs. our expected $2.0M.
  • Subsequent to the quarter, KNR signed an LOI to acquire an Ontario-based business doing $525K in EBITDA.

Renewable Japan (9522 JP): Q3 FY12/24 flash update

By Shared Research

  • Cumulative Q3 FY12/24 saw YoY declines in revenue and profits, with Recurring business revenue down 2.7% YoY.
  • The company revised earnings projections downward due to weak Spot business performance, maintaining net income forecast via asset sales.
  • Recurring business gross profit grew 8.2% YoY, with significant growth in overseas Power Production and O&M business segments.

Spruce Power Holding Corporation – Newly Announced Acquisition and Spruce Pro MoU

By Water Tower Research

  • SPRU announced 3Q24 results yesterday. Spruce Power is a leading owner-operator of residential solar power purchase agreements (PPAs) and solar lease agreements (SLAs).
  • Spruce grows through the acquisition of mature portfolios. Its portfolio has expanded at a 29% CAGR since 2018 and Spruce now owns the cash flow from approximately 75,000 home solar assets and contracts.
  • Spruce offers a “Power-as-a-Service” business model and believes its own in-house technology-driven solar servicing platform is the most comprehensive on the market and hard to replicate. 

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Nov 16
0

Daily Brief Energy/Materials: Lyondellbasell Indu Cl A, TotalEnergies, BP PLC, Forum Energy Technologies , KEIWA , Panoro Energy ASA, PetroTal, Sable Offshore, TMC the metals co, Alphamin Resources and more

By | Daily Briefs, Energy & Materials Sector

In today’s briefing:

  • LyondellBasell Industries: Regional Market Adaptations & Demand Optimization & Other Major Drivers
  • [Earnings Review] TotalEnergies’ Profitability Weighed Down by Sharp Decline in Refining Margins
  • [Earnings Review] BP Posts Worst Earnings Since Q3 2020 as Weak Oil Prices Hit Margins
  • Forum Energy Technologies, Inc. – Refinanced Balance Sheet Paves Way to Consider Returning Cash
  • KEIWA (4251 JP): Q3 FY12/24 flash update
  • Panoro Energy ASA (OSE: PEN): 12.5 mbbl/d current production. On track to achieve >13 mbbl/d by YE23
  • PetroTal Corp (AIM: PTAL): Production >21 Mbbl/D.
  • SOC: Stuck in a Tar Pit
  • The Metals Company – Updated strategy offers commercial upside
  • Alphamin Resources – From alpha to omega

LyondellBasell Industries: Regional Market Adaptations & Demand Optimization & Other Major Drivers

By Baptista Research

  • LyondellBasell Industries recently held its earnings call to discuss the financial results of the third quarter of 2024.
  • The earnings report provides several insights into the company’s financial health, market positioning, and strategic advancements.
  • The third quarter results indicate how LyondellBasell is navigating a challenging market environment marked by fluctuations in raw material costs and subdued demand in various sectors.

[Earnings Review] TotalEnergies’ Profitability Weighed Down by Sharp Decline in Refining Margins

By Suhas Reddy

  • In Q3, TotalEnergies beat revenue forecasts by 6.4% but missed EPS estimates by 3.7%. Revenue and adjusted net income fell by 2.8% YoY and 37%, respectively.
  • TotalEnergies’ average liquids price realisation fell 2.4% YoY, European refining margins dropped 84.7%, while LNG price realisation rose 3.7% YoY.
  • TotalEnergies’ Q3 cash flow fell 27% YoY to USD 6.8 billion. It announced USD 2 billion in Q4 buybacks and a 0.79 euro/share interim dividend.

[Earnings Review] BP Posts Worst Earnings Since Q3 2020 as Weak Oil Prices Hit Margins

By Suhas Reddy

  • BP’s revenue declined 11.3% YoY, missing estimates by 4.3%, while EPS fell 27.8% YoY, beating estimates by 3.8%. Underlying net profit dropped 31.2% YoY to USD 2.3 billion.
  • BP’s Q3 performance was impacted by weak oil prices, lower refining margins, and soft trading results, leading to its lowest underlying net profit since Q3 2020.
  • Total upstream production rose 3% YoY, with liquids production up 5%. BP also achieved 80% YoY growth in its EV charging business, selling 1 terawatt-hour of electricity globally.

Forum Energy Technologies, Inc. – Refinanced Balance Sheet Paves Way to Consider Returning Cash

By Water Tower Research

  • FET’s refinanced balance sheet and free cash flow potential position the company to consider alternatives to return cash to shareholders in 2025.
  • Proceeds from a $100 million issuance of 10.5% senior secured bonds, together with cash on hand, funded the repayment of the seller term loan and will be used to fund the redemption of the remaining 2025 notes on December 8, 2024.
  • The new notes have a tack-on feature in the indenture allowing for the issuance of up to $150 million of incremental notes.

KEIWA (4251 JP): Q3 FY12/24 flash update

By Shared Research

  • Cumulative Q3 FY12/24 revenue grew 20.4% YoY to JPY14.9bn, with operating profit up 115.2% YoY to JPY3.1bn.
  • Revenue from optical sheets for laptops and tablets increased, while revenue from clean energy materials declined 2.9% YoY.
  • Full-year FY12/24 targets revised upwards, but 2H forecasts lowered due to policy changes and increased costs.

Panoro Energy ASA (OSE: PEN): 12.5 mbbl/d current production. On track to achieve >13 mbbl/d by YE23

By Auctus Advisors

  • Gross production at Dussafu has now reached 40 mbbl/d, taking Panoro’s overall WI production to 12.5 mbbl/d from 9,401 bbl/d in 3Q24.
  • Production could grow further with two wells to be completed by YE24.
  • A Ruche well is also set for first oil in 4Q24.

PetroTal Corp (AIM: PTAL): Production >21 Mbbl/D.

By Auctus Advisors

  • 3Q24 production was 15,203 bbl/d. This is in line with previous indications.
  • The cash position at the end of September had been previously reported and there are no surprises in the rest of the balance sheet.
  • With the end of the dry season, production has rapidly increased from 10.7 mbbl/d during the first week of October to >21 mbbl/d currently.

SOC: Stuck in a Tar Pit

By Hamed Khorsand

  • SOC reported third quarter results were the Company’s operations used cash of approximately $31.6 million and are now stuck in disagreement with the California Coastal Commission since September.   
  • SOC’s latest update with the Coastal Commission implies this could be a protracted process as SOC is now disclosing it would close the open excavations until there is an agreement
  • We believe SOC is not likely to achieve meaningful success in getting the work done in a timely manner. 

The Metals Company – Updated strategy offers commercial upside

By Edison Investment Research

Progress to an exploitation licence and commercialisation of The Metals Company’s (TMC’s) deep-sea assets is unchanged. The development of a strategy to leverage the group’s knowledge and capabilities in the deep sea to provide services to third parties offers the potential of a new and earlier revenue stream.

Alphamin Resources – From alpha to omega

By Edison Investment Research

Alphamin announced record quarterly tin production of 4,917t (+22.1% quarter-on-quarter) in Q324 and EBITDA of US$91.6m (+68.8%) after the Mpama South mine completed its first full quarter of production at (or near) steady state. Alphamin’s consolidated annual financial statements and accompanying management discussion and analysis (MD&A) for FY24 will probably be released in early March. In the meantime, we are forecasting that EPS will continue to advance into FY25 and beyond under the influence of continued strength in the tin price and increasing efficiencies as both Mpama North and Mpama South develop (in particular) along strike.

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Nov 16
0

Daily Brief Consumer: Ping An Healthcare and Technology, Alibaba Group Holding , Anxian Yuan China Holdings , TSE Tokyo Price Index TOPIX, Marriott International, Paris Miki Holdings, Fields Corp, Fast Fitness Japan Inc, Duckhorn Portfolio /, Madison Square Garden Sports Corp. and more

By | Consumer, Daily Briefs

In today’s briefing:

  • 2025 High Conviction: PA Gooddoctor (1833 HK) – The Arb Is To Take The Stock
  • Alibaba (BABA US): 2Q25, Weak Quarter, But Waiting for Two Events to Benefit Top Line
  • Anxian Yuan (922 HK)
  • Side Effects of Matching Numbers to Raise the Percentage of Female Board Members
  • Why Marriott International’s Expansion in Greater China Could Be a Game-Changer for Investors! – Major Drivers
  • Paris Miki Holdings (7455 JP): 1H FY03/25 flash update
  • Fields Corp (2767 JP): 1H FY03/25 flash update
  • Fast Fitness Japan Inc (7092 JP): 1H FY03/25 flash update
  • Duckhorn Portfolio Inc (The) (NAPA) – Friday, Aug 16, 2024
  • Madison Square Garden Sports Corp.: Will Its Capital Allocation & Debt Management Be A Breakthrough Move? – Major Drivers

2025 High Conviction: PA Gooddoctor (1833 HK) – The Arb Is To Take The Stock

By David Blennerhassett

Alibaba (BABA US): 2Q25, Weak Quarter, But Waiting for Two Events to Benefit Top Line

By Ming Lu

  • Total revenue grew slightly as we expected in our preview note.
  • The operating margin improved significantly, but this was due to the shrinks of non-cash items.
  • However, we believe Alibaba will benefit from the boycott against JD.com and the disposal of Sun Art.

Anxian Yuan (922 HK)

By Michael Fritzell

  • Chinese cemetery operator with three main assets: the Anxian Yuan cemetery in Hangzhou, the Fushouyuan cemetery in Yinchuan and the Dachenshan cemetery in Niuxin Village, Guizhou Province
  • The stock is inexpensive at 6.1x trailing P/E with a 13.3% dividend yield that’s covered by cash flows. Further, net cash represents 82% of market cap with limited contract liabilities.
  • Recent tomb sales has been weak for reasons that seem macro related. Other risks are historical share dilution: the 2020 rights issue was under-priced, 85% taken up by the founder. 

Side Effects of Matching Numbers to Raise the Percentage of Female Board Members

By Aki Matsumoto

  • With external female board member resources under pressure, it will be extremely difficult to raise the percentage of female board members steadily at this rate.
  • The trump card for this is matching numbers. Increasingly, female board members with no management background or outside talent are being recruited to female managerial positions.
  • It is expected that fewer companies will move to Company with US type 3 Statutory Committees in order to avoid increasing the number of statutory executive officers.

Why Marriott International’s Expansion in Greater China Could Be a Game-Changer for Investors! – Major Drivers

By Baptista Research

  • Marriott International’s third-quarter financial performance for 2024 indicated a mixture of growth and existing challenges within the global hospitality landscape.
  • The company reported a 6% year-over-year increase in net rooms, underscoring its robust expansion efforts and strong development activities.
  • Global Revenue Per Available Room (RevPAR) rose 3% for the quarter, fueled by a 2.5% increase in Average Daily Rate (ADR), with the group segment leading the charge, posting a 10% rise in RevPAR, which highlights the sustained demand in this category.

Paris Miki Holdings (7455 JP): 1H FY03/25 flash update

By Shared Research

  • Sales increased by 3.6% YoY to JPY26.1bn, but operating profit decreased by 25.3% YoY to JPY1.2bn.
  • Paris Miki Inc. sales rose 4.2% YoY to JPY23.2bn, with 13 store openings and nine closures.
  • China subsidiary faced a sales decline of 0.9% YoY to JPY3.0bn, resulting in an operating loss.

Fields Corp (2767 JP): 1H FY03/25 flash update

By Shared Research

  • Group sales were JPY45.8bn (-31.7% YoY), with net income attributable to owners of the parent at JPY2.8bn (-31.5% YoY).
  • Content and Digital business sales reached JPY8.0bn (+7.9% YoY), driven by Tsuburaya Productions’ overseas revenue growth of 34.0% YoY.
  • PS business reported sales of JPY37.2bn (-37.0% YoY), with 48,636 amusement machines sold, down 77,389 units YoY.

Fast Fitness Japan Inc (7092 JP): 1H FY03/25 flash update

By Shared Research

  • Revenue increased by 10.4% YoY to JPY8.6bn, with directly operated clubs contributing JPY5.3bn and franchise revenue JPY3.1bn.
  • Operating profit decreased by 28.2% YoY to JPY1.4bn, impacted by higher costs and growth investments, especially overseas.
  • Membership count rose to 935,000, with 33 new clubs opened and three closed, totaling 1,163 clubs.

Duckhorn Portfolio Inc (The) (NAPA) – Friday, Aug 16, 2024

By Value Investors Club

  • Duckhorn Portfolio Inc, trading as NAPA, had a disappointing post-IPO performance in 2022
  • Despite this, the company is viewed as a cheap investment with potential for growth
  • With TSG showing incentives for a potential sale and interest from strategic acquirers, there is optimism that NAPA could potentially double in value within the next year

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Madison Square Garden Sports Corp.: Will Its Capital Allocation & Debt Management Be A Breakthrough Move? – Major Drivers

By Baptista Research

  • Madison Square Garden Sports Corp. reported strong financial results for fiscal 2024, supported by the successful seasons of its two major franchises, the New York Knicks and New York Rangers.
  • The company’s total revenues exceeded $1 billion, marking a new record.
  • Adjusted operating income reached $172 million, also a record, indicating robust demand among fans and partners throughout the season.

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Nov 16
0

Daily Brief Industrials: Abalance , BlueLinx Holdings , Careerlink, Dai Ichi Cutter Kogyo Kk, en Japan Inc, Expion360 , Suzumo Machinery and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Abalance (3856 JP): Q1 FY06/25 flash update
  • Bluelinx Holdings Inc (BXC) – Friday, Aug 16, 2024
  • Careerlink (6070 JP): 1H FY03/25 flash update
  • Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update
  • en Japan Inc (4849 JP): 1H FY03/25 flash update
  • XPON: The RV market recovery remains elusive. Substantially adjusting our valuation target and estimates to reflect significant dilution and recent reverse stock split.
  • Suzumo Machinery (6405 JP): 1H FY03/25 flash update

Abalance (3856 JP): Q1 FY06/25 flash update

By Shared Research

  • Q1 FY06/25 revenue was JPY21.7bn (-62.5% YoY), operating profit JPY1.3bn (-71.5% YoY), net loss JPY578mn.
  • Revenue decline due to US import tariff expiration; company plans new production bases in Ethiopia and US.
  • FY06/25 forecast: revenue JPY80.0bn (-61.7% YoY), operating profit JPY10.0bn (-57.2% YoY), dividend undecided.

Bluelinx Holdings Inc (BXC) – Friday, Aug 16, 2024

By Value Investors Club

  • BlueLinx has seen a significant increase in equity and liquidity due to the homebuilding surge from 2020-2022
  • The company has a book value per share of $76.50 and $98 per share in liquidity, indicating a strong balance sheet
  • Management plans to use excess capital for M&A, entering new markets, and price-sensitive buybacks, with potential for earnings power to exceed current estimates of $12 EPS

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Careerlink (6070 JP): 1H FY03/25 flash update

By Shared Research

  • Revenue decreased YoY across BPO and CRM businesses, but operating profit increased due to cost reduction efforts.
  • New partnerships with seven local governments expanded client base to 177, focusing on economic stimulus projects.
  • Revenue rose in food processing and manufacturing, driven by strong orders and efficient SG&A expense management.

Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update

By Shared Research

  • Q1 FY06/25 revenue declined 6.7% YoY due to subsidiary exclusion, with operating profit falling 27.9% from increased costs.
  • FY06/25 forecast projects revenue of JPY21.0bn (+0.4% YoY) and operating profit of JPY2.5bn (+1.8% YoY).
  • Company focuses on expressway projects, sales in building maintenance, and R&D investment to enhance technical capabilities.

en Japan Inc (4849 JP): 1H FY03/25 flash update

By Shared Research

  • Consolidated sales declined to JPY32.5bn (-1.7% YoY), while net income attributable to owners reached JPY5.2bn (+570.2% YoY).
  • HR-Tech engage segment reported sales of JPY4.4bn (+45.3% YoY) with an operating loss of JPY1.6bn.
  • Human Resource Platform segment achieved JPY4.1bn in sales (+17.8% YoY) and an operating profit of JPY601mn.

XPON: The RV market recovery remains elusive. Substantially adjusting our valuation target and estimates to reflect significant dilution and recent reverse stock split.

By Zacks Small Cap Research

  • Expion360’s shareholders authorized the company to effect a reverse stock split with a ratio of 1:50 to 1:100 at the annual shareholders meeting on September 27, 2024.
  • The company’s Board of Directors decided to implement a 1:100 stock reverse stock split effective October 9, 2024.
  • The company also reported third quarter 2024 results which again fell short of our forecast.

Suzumo Machinery (6405 JP): 1H FY03/25 flash update

By Shared Research

  • 1H FY03/25 results: Sales JPY7.9bn (+16.9% YoY), Operating profit JPY1.1bn (+131.1% YoY), Net income JPY795mn (+169.0% YoY).
  • FY03/25 forecast: Sales JPY16.0bn (+10.0% YoY), Operating profit JPY1.9bn (+28.8% YoY), Net income JPY1.4bn (+18.3% YoY).
  • Domestic sales forecast JPY10.0bn (+4.2% YoY), Overseas sales forecast JPY4.9bn (+20.8% YoY), New businesses JPY983mn (+24.0% YoY).

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Nov 16
0

Daily Brief Industrials: Abalance , BlueLinx Holdings , Careerlink, Dai Ichi Cutter Kogyo Kk, en Japan Inc, Expion360 , Suzumo Machinery and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Abalance (3856 JP): Q1 FY06/25 flash update
  • Bluelinx Holdings Inc (BXC) – Friday, Aug 16, 2024
  • Careerlink (6070 JP): 1H FY03/25 flash update
  • Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update
  • en Japan Inc (4849 JP): 1H FY03/25 flash update
  • XPON: The RV market recovery remains elusive. Substantially adjusting our valuation target and estimates to reflect significant dilution and recent reverse stock split.
  • Suzumo Machinery (6405 JP): 1H FY03/25 flash update

Abalance (3856 JP): Q1 FY06/25 flash update

By Shared Research

  • Q1 FY06/25 revenue was JPY21.7bn (-62.5% YoY), operating profit JPY1.3bn (-71.5% YoY), net loss JPY578mn.
  • Revenue decline due to US import tariff expiration; company plans new production bases in Ethiopia and US.
  • FY06/25 forecast: revenue JPY80.0bn (-61.7% YoY), operating profit JPY10.0bn (-57.2% YoY), dividend undecided.

Bluelinx Holdings Inc (BXC) – Friday, Aug 16, 2024

By Value Investors Club

  • BlueLinx has seen a significant increase in equity and liquidity due to the homebuilding surge from 2020-2022
  • The company has a book value per share of $76.50 and $98 per share in liquidity, indicating a strong balance sheet
  • Management plans to use excess capital for M&A, entering new markets, and price-sensitive buybacks, with potential for earnings power to exceed current estimates of $12 EPS

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Careerlink (6070 JP): 1H FY03/25 flash update

By Shared Research

  • Revenue decreased YoY across BPO and CRM businesses, but operating profit increased due to cost reduction efforts.
  • New partnerships with seven local governments expanded client base to 177, focusing on economic stimulus projects.
  • Revenue rose in food processing and manufacturing, driven by strong orders and efficient SG&A expense management.

Dai Ichi Cutter Kogyo Kk (1716 JP): Q1 FY06/25 flash update

By Shared Research

  • Q1 FY06/25 revenue declined 6.7% YoY due to subsidiary exclusion, with operating profit falling 27.9% from increased costs.
  • FY06/25 forecast projects revenue of JPY21.0bn (+0.4% YoY) and operating profit of JPY2.5bn (+1.8% YoY).
  • Company focuses on expressway projects, sales in building maintenance, and R&D investment to enhance technical capabilities.

en Japan Inc (4849 JP): 1H FY03/25 flash update

By Shared Research

  • Consolidated sales declined to JPY32.5bn (-1.7% YoY), while net income attributable to owners reached JPY5.2bn (+570.2% YoY).
  • HR-Tech engage segment reported sales of JPY4.4bn (+45.3% YoY) with an operating loss of JPY1.6bn.
  • Human Resource Platform segment achieved JPY4.1bn in sales (+17.8% YoY) and an operating profit of JPY601mn.

XPON: The RV market recovery remains elusive. Substantially adjusting our valuation target and estimates to reflect significant dilution and recent reverse stock split.

By Zacks Small Cap Research

  • Expion360’s shareholders authorized the company to effect a reverse stock split with a ratio of 1:50 to 1:100 at the annual shareholders meeting on September 27, 2024.
  • The company’s Board of Directors decided to implement a 1:100 stock reverse stock split effective October 9, 2024.
  • The company also reported third quarter 2024 results which again fell short of our forecast.

Suzumo Machinery (6405 JP): 1H FY03/25 flash update

By Shared Research

  • 1H FY03/25 results: Sales JPY7.9bn (+16.9% YoY), Operating profit JPY1.1bn (+131.1% YoY), Net income JPY795mn (+169.0% YoY).
  • FY03/25 forecast: Sales JPY16.0bn (+10.0% YoY), Operating profit JPY1.9bn (+28.8% YoY), Net income JPY1.4bn (+18.3% YoY).
  • Domestic sales forecast JPY10.0bn (+4.2% YoY), Overseas sales forecast JPY4.9bn (+20.8% YoY), New businesses JPY983mn (+24.0% YoY).

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