Daily Brief Consumer: LG Energy Solution, Molson Coors Brewing Co B, Tokyo Stock Exchange Tokyo Price Index Topix and more

In today’s briefing:

ECM Weekly (16th July 2023) – LG Energy, Socionext, Plus Alpha, Syngenta, Cinema XXI, Genda, Fadu
Molson Coors Beverage Company: Initiation of Coverage – Diversification
Nominating Committee Also Has Problems Achieving Only Formal Criteria of Corporate Governance Code

ECM Weekly (16th July 2023) – LG Energy, Socionext, Plus Alpha, Syngenta, Cinema XXI, Genda, Fadu

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
In the IPO space, HK IPOs appear to be coming back to life with some deals managing to perform this week.
For placements, Socionext (6526 JP) and Plus Alpha Consulting (4071 JP) were joined by LG Energy Solution (373220 KS) and Patanjali Foods (PATANJAL IN) in a relatively busy week.

This is our first report on global beverage giant, Molson Coors Beverage Company. has exhibited commendable resilience this quarter, particularly with their premium light brands in the U.S.
Their brands, Coors Light and Miller Lite, registered double-digit revenue growth, significantly aided by their first Super Bowl campaign in over three decades.
We initiate coverage on the stock of Molson Coors Beverage Company with a ‘Hold’ rating.

Nominating Committee’s main activity is the selection of individual director candidates, and the Nominating Committee tends to be less involved in issues related to top management appointments, including succession planning.
Although most companies have a majority of independent directors as members of the nominating committee, the nominating committee may in fact be a body that approves top management’s proposals.
Companies focus only on prime market listing criteria of “committee establishment and committee member composition” and overlook original intent. The problem is that it’s all about achieving the formal criteria.

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