Daily Brief Consumer: Crompton Greaves Consumer Electricals, Comcast Corp Class A, Tokyo Stock Exchange Tokyo Price Index Topix and more

In today’s briefing:

Era of the Value Stocks
Comcast Corporation: Major Drivers
Overseas Investors Have Done a Great Deal to Improve the Governance of Japanese Companies, But…

Era of the Value Stocks

Era of the value stocks! Inflation feeds interest rates, raises cost of capital and risks equity multiples. Headwinds to earnings growth – risks sustenance of pricey valuations.
Key risks: Stocks face material headwinds on cost pressure, competition, valuations
Stocks covered: Crompton Greaves, Stove Kraft, Lemon Tree, Jubilant Ingrevia

Comcast achieved a strong result that surpassed Wall Street expectations in terms of revenues as well as earnings.
The company is slowly growing its ARPU as it is working towards building its customer relationships by steadily introducing new capabilities, services, and benefits.
In 2023, ARPU growth should continue to be the main factor influencing their residential broadband revenue growth.

11 of 14 corporate governance criteria confirmed the significance of % foreign shareholder. In particular, 9 of 14 criteria showed progress in their efforts due to engagement of overseas investors.
Overseas investors are concerned about whether the interests of minority shareholders can be secured in companies with large shareholders, such as listed subsidiaries, and whether governance will function properly.
As for the independence of the Nominating and Compensation Committee, which didn’t show significant correlation with % of foreign shareholders, it’s still beyond the power of engagement by overseas investors.

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