In today’s briefing:
- Daiseki Co Ltd (9793 JP): Q1 FY02/25 flash update
- Qantm Intellectual Property – “Fair and reasonable”: says independent expert
Daiseki Co Ltd (9793 JP): Q1 FY02/25 flash update
- In Q1 FY02/25, Daiseki reported sales of JPY16.7bn (-6.6% YoY), gross profit of JPY5.9bn (-1.1% YoY), and operating profit of JPY3.9bn (-0.7% YoY).
- Daiseki Co.’s sales increased 7.0% YoY, while DES’s sales fell 28.4% YoY, leading to a consolidated sales decrease.
- Consolidated operating profit for Q1 decreased by 0.7% YoY to JPY3.9bn, with OPM rising 1.4pp to 23.4%.
Qantm Intellectual Property – “Fair and reasonable”: says independent expert
- RaaS Reseach Group has published an update report on IP services group QANTM Intellectual Property (ASX:QIP) following the release of the Scheme of Arrangement documentation with Adamantem Capital on 25 June.The documentation includes the Independent Expert’s report from Grant Thornton Corporate Finance which concludes that the Scheme is “fair and reasonable” and in the “best interests of QANTM shareholders in the absence of a superior alternative proposal emerging”.
- The independent expert concludes that the fair market value range for QANTM shares on a control basis is from $1.736/share to $2.098/share, suggesting a respective premium of 4.7% and discount of 13.4% to the cash offer of $1.817/share.
- Our existing DCF-based valuation has remained unchanged at $1.79/share.
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