In today’s briefing:
- ASICS Placement – Needs to Correct, but Watch Out for the Revision Impact
- ECM Weekly (15th July 2024) – Kokusai, Wiwynn, Kelun-Biotech, Timee, Shift Up, Sanil, Avanse
- Zozo Still Expecting New Highs
ASICS Placement – Needs to Correct, but Watch Out for the Revision Impact
- A group of shareholders aims to raise around US$1.3bn via selling around 11% of ASICS Corp (7936 JP).
- For the two large banks, this will be a cleanup of their cross-shareholding.
- In this note, we will talk about the placement and run the deal through our ECM framework.
ECM Weekly (15th July 2024) – Kokusai, Wiwynn, Kelun-Biotech, Timee, Shift Up, Sanil, Avanse
- Aequitas Research’s weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
- On the IPO front, there were a number of listing in the past week, most of which performed as per our expectations.
- On the placement front, Japan continued to dominate the ECM flows.
Zozo Still Expecting New Highs
- Zozo continues to post solid gains in sales but a slight dip in new customers has led some to suggest that the online fashion mall is reaching its peak.
- Meanwhile, The Japanese fashion retail sector has seen improved performance from retail stores at the expense of e-commerce, with stores actually outperforming online last year.
- While further growth may be harder to achieve, Zozo has several strategies in place that should help it reach its target of ¥800 billion.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
