In today’s briefing:
- Oriental Watch (398 HK)
- Benesse Holdings (9783): Time to Cover
Oriental Watch (398 HK)
- Oriental Watch is a prominent luxury watch retailer in the Greater China region.
- While the company offers various brands, the majority of its sales, over 80%, come from its core brands, particularly Rolex and Tudor, a sister brand of Rolex.
- Over the past two years, Oriental Watch has benefited greatly from the strong popularity of Rolex watches and has rewarded its shareholders with a dividend payout of over 100%.
Benesse Holdings (9783): Time to Cover
- Benesse Holdings (9783 JP) share price has fallen 18% annually since 4 years ago with PER going from 55x to 14x
- The structural decline in the main business remains although the smaller business has shown some improvement.
- Japan has received a lot of investors interest recently and Benesse could pick up some investor interest too.
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