In today’s briefing:
- Oisix-Shida Stoush with SHiDAX Suggests Strong but Subtle Strategy
- Toridoll – Bull Run Can Stretch Much Longer
- Honda Sets Up New Venture to Procure Batteries From CATL
- Japan’s Corporate IT Operations Firm JOSYS Nets US$32M Funding, to Expand to Singapore
- Japanese Virtual Office Platform Raises $32m for Market Expansion
Oisix-Shida Stoush with SHiDAX Suggests Strong but Subtle Strategy
- Shidax Corp (4837 JP) is a food service business in the midst of a so-far reasonably successful restructuring. The family had a partner in Unison and hoped to extend.
- The founding family and Unison now have ~60% together, and they vote together. Unison wants out. The family wants Oisix ra daichi (3182 JP) in. So Oisix has tendered.
- But SHiDAX sees the conflict and minorities getting hosed. So they object. The “easy” solution is a full MBO with Oisix support.
Toridoll – Bull Run Can Stretch Much Longer
- TORIDOLL Holdings Corporation (3397 JP) is trading near the historical peak of ¥3,000 per share which translates to a consensus FY+2 EV/OP of 30.9x.
- We think the stock has more room to run as its OP margin is expected to reach double digits for the first time since FY13.
- Meanwhile, there could be an upside to FY23 guidance as it is currently based on an exchange rate of ¥116 per $1.0.
Honda Sets Up New Venture to Procure Batteries From CATL
- Honda Motor Co. Ltd.’s Chinese unit will set up a new joint venture with two Chinese partners to procure electric vehicle batteries from battery giant Contemporary Amperex Technology Co. Ltd. (CATL)
- The joint venture will be 50% owned by Honda Motor (China) Investment Co. Ltd. and 25% each by Dongfeng Motor Corp. Ltd. and Guangzhou Automobile Group Co. Ltd. (GAC)
- Honda’s joint ventures with Dongfeng and Guangzhou Automobile already use CATL batteries in electric cars made in China
Japan’s Corporate IT Operations Firm JOSYS Nets US$32M Funding, to Expand to Singapore
- JOSYS is a B2B platform that streamlines corporate IT operations through automated management of IT devices and SaaS applications
- JOSYS, a Japanese company offering a B2B SaaS platform for corporate IT operations, has raised US$32 million in a funding round led by Global Brain Corporation
- With this money, JOSYS — a spin-off of the Tokyo Stock Exchange-listed RAKSUL — plans to strengthen its development wing in India and sales structure in Japan
Japanese Virtual Office Platform Raises $32m for Market Expansion
- Japan-based virtual office platform oVice has secured US$32 million in series B funding from an unspecified group of local and overseas investors.
- Launched in 2020, oVice’s software provides customizable virtual offices, classrooms, and event venues for companies disrupted by the pandemic.
- Currently, the firm has reported over US$6 million in annual recurring revenue and said it has long-term contracts with over 2,200 organizations.
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