In today’s briefing:
- Weekly Deals Digest (18 Aug) – JTower, Piolax, Fancl, China TCM, CPMC, PropertyGuru, Orora, WeRide
- Foreign Ownership, Which Has Reached a Record High of 31.8%, Will Continue to Play a Major Role
- Sony Corporation: Enhanced Streaming and Subscription Revenue Growth in Entertainment Driving Our Optimism! – Major Drivers
Weekly Deals Digest (18 Aug) – JTower, Piolax, Fancl, China TCM, CPMC, PropertyGuru, Orora, WeRide
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: WeRide (WRD US) aims to raise up to US$119 million through a Nasdaq IPO and US$321 million through a concurrent private placement.
- Event-Driven developments:China Traditional Chinese Medicine (570 HK), CPMC Holdings (906 HK), JTower (4485 JP), Piolax Inc (5988 JP), Fancl Corp (4921 JP), PropertyGuru (PGRU US).
Foreign Ownership, Which Has Reached a Record High of 31.8%, Will Continue to Play a Major Role
- The percentage of shares held by individuals and trust banks fell from 17.6% to 16.9% and from 22.6% to 22.1%, respectively. Increasing individual investors’ investment in Japanese equities isn’t easy.
- The presence of overseas investors will increase, as the percentage of shares held by foreigners, which has reached a record high, is expected to remain high in the future.
- The percentage of shares held by corporations decreased slightly, and cross-shareholdings are gradually being unwound. The gradual decline is likely to continue in the future.
Sony Corporation: Enhanced Streaming and Subscription Revenue Growth in Entertainment Driving Our Optimism! – Major Drivers
- The Sony Group Corporation’s latest consolidated earnings report for the first quarter of fiscal 2024 demonstrated notable financial growth and strategic advancements across its diversified portfolio, which spans from electronic products and financial services to entertainment and gaming.
- Despite a complicated global economic climate, marked by exchange rate volatility and potential threats of an economic downturn, particularly in the United States, Sony has reported robust results and optimistic projections for the fiscal year.
- Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.
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