In today’s briefing:
- Toyo Construction AGM : YFO Wins on Dramatic Foreign Shareholder Discontent
- Weekly Deals Digest (02 Jul) – JSR, Dali Foods, NWS, Poly Culture, Yitai, DDH1/Perenti, Tryt
- Will Group (6089 Jp) – 4Q Follow-Up
- Japanese Startup Flux Bags $32m for No-Code AI Platform
Toyo Construction AGM : YFO Wins on Dramatic Foreign Shareholder Discontent
- In my piece Yamauchi Family Office Buys More Toyo; Toyo Claims More Malfeasance, ISS Supports YFO I said I thought YFO would lose, but it would be close.
- I thought it hinged on the shape of the register. It turns out it did. And it turns out they won, and it was close. Analysis is presented.
- What next? The new board takes its seats and may entertain a new takeover offer. I could see a buyout price a fair bit higher than here.
Weekly Deals Digest (02 Jul) – JSR, Dali Foods, NWS, Poly Culture, Yitai, DDH1/Perenti, Tryt
- 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 – Tryt Inc (9164 JP), Amman Mineral Internasional (1416286D IJ), Alibaba (ADR) (BABA US)‘s Cainiao & Cloud Intelligence Group, J&T Global Express (1936374D CH) IPOs.
- Event-Driven developments – JSR Corp (4185 JP), Dali Foods Group (3799 HK), Nws Holdings (659 HK), Poly Culture Group Corp H (3636 HK), Yitai Coal, DDH1 (DDH AU).
Will Group (6089 Jp) – 4Q Follow-Up
- The day after the Company announced 4Q FY23/3 results and FY24/3 initial guidance for consolidated revenue flat and OP -21.0%, the share price dropped -6.3% on heavy volume, maintaining a weak trend thereafter relative to a strong underlying market.
- SIR believes this is because the new MTP differed from investors‘ growth image.
- While the Company would be remiss not to highlight the high base from the post-COVID surge in special demand for permanent placement as a short-term risk for this term, investors may have been sensitive to the slowdown in growth over the coming two years.
Japanese Startup Flux Bags $32m for No-Code AI Platform
- Businesses across the world are rushing to adopt AI. Japan-based startup Flux is targeting companies in the country who want to do so at lower cost and higher efficiency.
- The firm developed a no-code AI platform called Flux AI. According to Flux, the platform enables businesses to leverage AI technologies such as predictive analytics, natural language processing, and large language models without needing prior coding skills or knowledge.
- The startup has just raised US$32 million in a series B round led by DNX Ventures.
💡 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
