In today’s briefing:
- Interest Will Be Focused on when the TSE Will Begin Cleaning up the Prime Market
- Amvis Holdings Inc (7071 JP): An Expanding Hospice Business in Japan
Interest Will Be Focused on when the TSE Will Begin Cleaning up the Prime Market
- The listing criteria regarding trading volume is much simpler than other criteria. It’s clear that an average daily trading value of 20 million yen isn’t sufficient liquidity for many investors.
- Many companies that fail to meet listing standards have low expectations for future cash flows, which leads to low valuations and is the reason for sluggish trading volume.
- Keeping these companies in prime market is expected to lead to more focus on this issue, as the gap between these companies and their exact opposites will widen further.
Amvis Holdings Inc (7071 JP): An Expanding Hospice Business in Japan
- Amvis Holdings Inc (7071 JP) is expected to have revenue CAGR of 57% and 600 basis points net profit margin improvement during FY18–23, driven by aggressive business expansion.
- Amvis plans to have 100 hospice facilities by 2025–2026 from 58 at the end of FY22. FCF is steadily improving, due to the high profitability of the business.
- With a float of 27.4%, Amvis is just maintaining the listing criterion on the Tokyo Stock Exchange’s Standard market. It has announced stock split, with record date of September 30.
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