In today’s briefing:
- Plane Crash at Haneda Airport; Negative for Japan Airport Terminal and Japan Airlines
- Ushio (6925 JP): Tie-Up with Applied Materials Adds to Long-Term Potential
- Hyundai Hyms IPO Preview
- Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV Deletion Very Close!
- End of Mandatory Lock-Up Periods for 41 Companies in Korea in January 2024
- Carr’s Group – Cautious optimism
- J&T Global Express FY23 Earnings Preview | Revenue Growth & Margin | China, SE Asia, ‘Other’
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Plane Crash at Haneda Airport; Negative for Japan Airport Terminal and Japan Airlines
- Japan Airline’s Flight JL516 operated by a two-year-old Airbus A350-900 burst into flames upon landing at Haneda Airport, apparently hitting a small Japanese Coast Guard aircraft
- 379 passengers and crew were safely evacuated, but five of six crew on a Japanese coast guard aircraft were unaccounted for
- Haneda Airport runaways are all closed, aircraft heading to Haneda are diverted to other airports or flights aborted altogether
Ushio (6925 JP): Tie-Up with Applied Materials Adds to Long-Term Potential
- Ushio has tied up with Applied Materials (AMAT) to develop lithography systems for package substrates using AMAT’s Digital Lithography Technology.
- This should keep the focus on Ushio’s more advanced technologies (which also include EUV mask inspection light sources) and its potential to rebound with the semiconductor cycle.
- The shares have dropped back 10% since mid-December, providing an entry point. 3Q results are scheduled to be announced on February 9.
Hyundai Hyms IPO Preview
- Hyundai Hyms is getting ready to complete its IPO in KOSDAQ in January. The total IPO offering amount is 43.5 billion to 54.9 billion won.
- The company is offering 8.7 million shares in this IPO, of which 40% are old shares and 60% are new shares.
- Hyundai Hyms specializes in shipbuilding equipment. Hyundai Hyms’s main business includes shipbuilding equipment and related services.
Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV Deletion Very Close!
- In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the March 2024 Index Rebalance.
- As things stand, I see one change for the T50 index and one more change for the T100 index.
- TDIV member Bizlink Holding (3665 TT) is very close to getting deleted from the T100 index and that could have significant TDIV flow implications too.
End of Mandatory Lock-Up Periods for 41 Companies in Korea in January 2024
- We discuss the end of the mandatory lock-up periods for 41 stocks in Korea in January 2024, among which 4 are in KOSPI and 37 are in KOSDAQ.
- These 41 stocks on average could be subject to further selling pressures in January and could underperform relative to the market.
- Among these 41 stocks, top five market cap stocks include Posco International, Doosan Robotics, Rainbow Robotics, Qualitas Semiconductor, and PhilEnergy.
Carr’s Group – Cautious optimism
Cyclical weakness in Carr’s Group’s Speciality Agriculture business has affected the company’s fortunes of late. However, the new management team, a strong net cash balance sheet and a record order book in the Engineering division offer optimism. Operational progress, particularly a reversal of fortunes in Speciality Agriculture, should rebuild confidence and a reduction in the current discount to our view of the underlying value.
J&T Global Express FY23 Earnings Preview | Revenue Growth & Margin | China, SE Asia, ‘Other’
- In this insight we preview J&T’s maiden earnings report as a listed company
- We focus on revenue growth & margin trends in the China & SE Asia businesses
- We fear slowing organic growth & margin deterioration could spook investors