In today’s briefing:
- Asics (7936) | Slow Out of the Blocks
- Last Week in Event SPACE: Mitsui Fudosan/Oriental Land, Giordano, JSR, Pasona, Lawson, L’Occitane
- Johnson Controls International: Initiation Of Coverage – A Strategic Overhaul That Could Be A Game Changer! – Major Drivers
- Tesla Sold A Whopping One Car in January in South Korea
- Royal Caribbean Cruises Ltd.: How They’re Sailing Towards Improved Profitability With These Strategies! – Major Drivers
- Tractor Supply Company: Strategic Focus On Exclusive Brands Expansion & Other Key Drivers
Asics (7936) | Slow Out of the Blocks
- Asics absolutely smashed the last MTP; this year they have a more measured approach
- Full-Year OP guidance for FY24 is a little shy of street expectations, but this should not impact the share price
- Asics has a decent runway for growth ahead and will benefit from channel mix improvements. The stock remains undervalued relative to peers
Last Week in Event SPACE: Mitsui Fudosan/Oriental Land, Giordano, JSR, Pasona, Lawson, L’Occitane
- Apparently Elliott is requesting Mitsui Fudosan (8801 JP) conduct a very large buyback and to sell down its stake in Oriental Land (4661 JP).
- Some 17 months after the Cheng Family failed to secure 50%+ of Giordano International (709 HK), the family are now calling an SGM to install friendly directors.
- TheLawson (2651 JP) deal is not terribly surprising. It’s not terribly surprising that it is being done cheaply. It IS being done too cheaply. This is bumpable by force.
Johnson Controls International: Initiation Of Coverage – A Strategic Overhaul That Could Be A Game Changer! – Major Drivers
- This is our first report on diversified technology and multi industrial player, Johnson Controls.
- The company reported its Q1 2024 earnings recently.
- The company is facing some momentum after overcoming a considerable cyber disruption early in the quarter.
Tesla Sold A Whopping One Car in January in South Korea
- Tesla Motors (TSLA US) sold one car in January 2024 in South Korea. In comparison, Tesla sold 1,022 vehicles in December 2023 and 13,885 units in 2023.
- The key reason for the sharp plunge in vehicle sales in January has been due to the government’s slashing EV subsidies for vehicles with Chinese LFP based batteries.
- Furthermore, many consumers avoided buying Tesla vehicles in January as they waited for the government’s announcements of new EV subsidies.
Royal Caribbean Cruises Ltd.: How They’re Sailing Towards Improved Profitability With These Strategies! – Major Drivers
- The latest earnings of the Royal Caribbean Group exhibited an optimistic financial position for the Q4 and full-year 2023 and the company flourished particularly with the debut of the revolutionary product, Icon of the Seas.
- By delivering the best vacation experiences, 2023 marked an exceptional year with net yields up by 13.5% compared to 2019 levels, thereby boosting net income by approximately $1 billion.
- 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.
Tractor Supply Company: Strategic Focus On Exclusive Brands Expansion & Other Key Drivers
- Tractor Supply Company concluded its fiscal year of 2023 with solid results and several significant milestones, even though the year was marked by many challenges.
- Situated against a challenging backdrop of unfavorable weather, rising interest rates, and inflation impacting consumer spending habits, Tractor Supply Company extracted cause for optimism from developments and improvements in various areas of operations.
- The company’s robust, needs-based business model has withstood various economic conditions since its inception in 1938.
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