In today’s briefing:
- The TOPIX October FFW Trade – BIG Numbers
- Money Forward (3994) | Q3 Results and Strategic Expansion Fueling Long-Term Upside
- Tosei Corp (8923 JP): Q3 FY11/24 flash update
- Create Sd Holdings Co (3148 JP): Q1 FY05/25 flash update
The TOPIX October FFW Trade – BIG Numbers
- Post-Close on the 5th business day of October every year, the TSE announces the Free Float Weight review for all stocks where the FY ends in the Jan-March quarter.
- Yesterday saw 210 decent changes to FFW (more up than down). There are still 400+ Phased Weight Reductions, 3 new adds (3663, 3993, 9341), and some share cancellation-based share-count reductions.
- It turns out there is a LOT to trade. I see ¥2trln one-way (¥2trln net to buy on 245 names, and ¥2trln to sell on the other nearly 1,900 names).
Money Forward (3994) | Q3 Results and Strategic Expansion Fueling Long-Term Upside
- With results due October 15, we expect net sales growth of 29% YoY, bringing 9-month revenue on track to meet full-year guidance.
- Money Forward’s businesses are Japan-centric, creating a steady revenue stream insulated from yen volatility and uncertain global macro conditions.
- By targeting larger corporations, Money Forward aims to unlock substantial cross-selling potential, supporting long-term growth and market penetration.
Tosei Corp (8923 JP): Q3 FY11/24 flash update
- Revenue increased by 4.1% YoY to JPY69.4bn, achieving 84.7% of the full-year forecast, driven by Development business growth.
- Operating profit rose 18.0% YoY to JPY17.1bn, reaching 93.8% of the full-year forecast, with notable profit margin improvements.
- Tosei revised its full-year forecast, lowering revenue by 11.1% but raising profit forecasts due to strategic adjustments.
Create Sd Holdings Co (3148 JP): Q1 FY05/25 flash update
- Revenue increased by 9.4% YoY to JPY113.9bn, with growth in comparable store revenue and customer count.
- Operating profit rose by 10.7% YoY to JPY5.3bn, supported by higher gross profit and cost control measures.
- The company expanded its network by opening 10 drugstores and six in-store dispensing pharmacies, closing one store.
💡 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
