In today’s briefing:
- Migalo Holdings (5535 JP) – Full-Year FY2024/3 Earnings Review
- Content of Disclosures Is Important, but the Focus Has Shifted to Whether the Goals Can Be Achieved
Migalo Holdings (5535 JP) – Full-Year FY2024/3 Earnings Review
- On May 9, 2024, Migalo Holdings Inc. (hereafter, the Company) announced its full- year FY2024/3 earnings results.
- Sales rose 14.5% YoY to ¥42,672 mn, and operating profit fell 14.4% YoY to ¥2,500 mn, largely in line with the Company’s full-year forecast calling for sales to rise 12.7% YoY to ¥42,000 mn and operating profit to drop 14.4% YoY to ¥2,500 mn.
- The Company will pay a year-end dividend of ¥45 per share, including a commemorative dividend of ¥5 per share to celebrate the 20th anniversary of the founding of its predecessor, Property Agent, Inc.
Content of Disclosures Is Important, but the Focus Has Shifted to Whether the Goals Can Be Achieved
- Companies with higher foreign shareholdings have superior board practices, suggesting that overseas investor engagement played an important role in improving management that resulted in return on capital.
- Clues to changes in management reform can be found in the percentage of independent board members, the percentage of female board members, and policy shareholdings/total assets.
- While the substance of the goals is important, the focus has shifted to management’s strong will to achieve the goals to raise valuations and return on capital.
💡 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
