Daily Brief Financials: MS&AD Insurance, NIFTY Index, DLocal and more

In today’s briefing:

Japan CorpGovReports: TSE “Mgmt Conscious of Capital Cost/Stock Price” Details (Dec24), TSE Updates
EQD / NSE Vol Update / Front-End IVs Battered as Wkly. Expiry Date Misses Out on Tier-1 Event Risks.
dLocal Limited: Its Efforts Towards Geographic Diversification & Market Expansion & Other Major Drivers

Japan CorpGovReports: TSE “Mgmt Conscious of Capital Cost/Stock Price” Details (Dec24), TSE Updates

TSE-Listed companies are asked to file “Management Conscious of Capital Cost/Stock Price” awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.
344 new CGRs were filed since 31 October. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
The TSE Council for the Followup to Market Restructuring met a month ago. They want more progress and more fairness in fair takeovers. Worth reading the docs (here).

IV PercentRank metrics indicate middle-of-the-range Risk Premia. “High & Down” vol-state persists for the Vol Regime-Switching model.
Front-End IVs battered as Weekly options expire prior to Friday’s tier-1 event risks. IVs marked down -3.6 vols.
IV Term-Structure shifts drastically – from Backwardation to Kinked-Shape. Year-end calendar effects causing Vol-surface distortions.

dLocal Limited experienced a robust third quarter in 2024, demonstrating strong operational performance with record levels in both Total Payment Volume (TPV) and gross profit.
Key developments indicate the company is effectively regaining momentum after a less-than-stellar start to the year.
Positives from the quarter include a notable 41% year-over-year increase in TPV, reaching $6.5 billion.

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