In today’s briefing:
- Yamazaki Baking (2212) | Price Hikes to Test Consumer Appetite
- HRTech Sector Series: Changing HR Landscape Post-Covid Create Opportunities
Yamazaki Baking (2212) | Price Hikes to Test Consumer Appetite
- Strong Q1 results have pushed up the share price offering a good entry point for Shorts
- We think that full year guidance remains a risk given input costs and ability to push through higher prices
- Given the risks, persistently low margins and returns to equity, we remain bearish
HRTech Sector Series: Changing HR Landscape Post-Covid Create Opportunities
- The global HRTech market is forecast to grow at a CAGR of 5.8% between 2022-2028E to US$35.68bn driven by increased investment in product and technology development.
- We have chosen four companies that will have an exciting year ahead (either bullish or bearish) and have discussed their business models, key drivers, fundamentals and their valuation.
- We have chosen two stocks from the US (Ceridian and Automatic Data Processing) and two from Japan (Recruit and Visional) with a market capitalisation of >$1bn and ADTV>$1m.
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