In today’s briefing:
- Seven & I Holdings (3382 JP): Core Designation Does Not Change Couche-Tard’s Calculus
- EQD | The Nikkei 225’s Trend Is Not Looking Good
- Freebit Co Ltd (3843 JP): Q1 FY04/25 flash update
Seven & I Holdings (3382 JP): Core Designation Does Not Change Couche-Tard’s Calculus
- On 13 September, the Ministry of Finance of Japan added 7&I to a list of “core” designated companies based on results of voluntary inquiries to all listed companies.
- Several media reports suggest that the change in 7&I’s designation to core would complicate the proposed acquisition by Alimentation Couche-Tard (ATD CN). The core designation will not change Couche-Tard’s strategy.
- The change to 7&I’s designation to core will paradoxically push Couche-Tard to firm up its revised offer. An undemanding valuation protects the downside of a no-deal situation.
EQD | The Nikkei 225’s Trend Is Not Looking Good
- Although the Nikkei 225 INDEX was rallying strong early in the year, from mid-March the rally started to falter, and after a fake recovery into July, it fell again, lower.
- Should the index go lower from last week’s Close at 36581.76, the next paragraphs of this insight will indicate what price levels are strong support to buy.
- The only doubt we have is that the index’s overall trend does not look good. A correction to 33000 (or lower) is a possibility – a negative YEARLY performance.
Freebit Co Ltd (3843 JP): Q1 FY04/25 flash update
- Q1 FY04/25: Revenue JPY13.3bn (-5.3% YoY), Operating profit JPY1.5bn (-12.1% YoY), Recurring profit JPY1.5bn (-10.6% YoY), Net income JPY814mn (-5.7% YoY).
- Business support services for MVNOs: Revenue JPY2.5bn (+4.9% YoY), Operating profit JPY325mn (-29.7% YoY).
- 5G Homestyle services: Revenue JPY6.2bn (-18.2% YoY), Operating profit JPY769mn (-23.7% YoY), excluding fiscal year-end change, revenue +5.9% YoY, operating profit +26.0% YoY.
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