Daily Brief TMT/Internet: Kokusai Electric , Taiwan Semiconductor (TSMC) – ADR, Hyundai Motor, Zuora Inc, Five9 Inc, MoneyHero , Esker SA, Boku Inc and more

• Since the US$2.0 billion secondary placement announcement, Kokusai Electric (6525 JP)’s shares are down 5.6% from the undisturbed price of JPY5,520 per share (8 July).
• Looking at recent large Japanese placements is instructive to understand the potential trading pattern. So far, Kokusai’s shares have followed the pattern of previous large placements.
• The offering will likely be priced on 22 July. Investors who have participated in previous large Japanese placements tend to secure positive returns.

• TSMC’s Q2 revenue hits NT$673.51 billion, exceeding expectations amid strong demand for advanced chips.
• TSMC to grapple with tight supply through 2025, striving to meet soaring global demand across various sectors.
• TSMC on track for 2025 mass production of 2nm chips, enhancing capabilities for more powerful and efficient technologies.

• Micron is sampling MRDIMMs for AI and HPC applications, exploring innovative solutions for data processing needs.
• Hyundai Motors plans to add 300 new charging stations to support the expansion of their hydrogen bus fleet, promoting eco-friendly transportation options.
• German electrification struggle worsens with supplier bankruptcy up 60%, hindering the widespread adoption of electric vehicles and renewable energy technologies.

• Zuora is considering a potential sale after receiving acquisition interest, with Qatalyst Partners hired to facilitate the process
• Founder and CEO Tien Tzuo and other large shareholders may participate in the transaction
• Potential deal price of $13-15 per share, offering 40-60% upside from current levels, with downside protection due to low valuation and improving cash flow outlook

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Five9, a noted leader in cloud contact center solutions, has been facing activist pressure in order to explore a potential sale of the company after a decent quarterly result.
• Positively, Five9 reported a solid increase in subscription revenue, growing 20% year-over-year, which underscores its successful transition and dominance in the cloud-based contact center market.
• This growth trajectory is supported by three key trends: the ongoing shift to cloud-based platforms, heightened focus on customer experience enhancement, and revolutionary impacts of AI on customer services.

• This is a follow-up research note on MoneyHero Group, a leading personal finance aggregation and comparison entity in Greater Southeast Asia.
• In its most recent Q1 2024 result, the company continues to demonstrate exceptional growth and strategic agility.
• MoneyHero Group has seen a significant uptick in revenues and improved margins and was also in the news for an important strategic sale of CompareHero in Malaysia that could prove to be another game changer.

Esker reported Q224 year-on-year constant currency (cc) revenue growth of 14% and bookings annual recurring revenue (ARR) cc growth of 65%. Bookings more than doubled in the Americas, helped by a large upsell to an existing customer, and had double-digit growth in every other region. On the back of the strong order intake year-to-date, management confirmed that its expectations for FY24 were unchanged. We have made small upgrades to our forecasts to reflect the strong Q2 performance.

In H124, digital wallets/account-to-account (A2A) adoption continued, with revenue growth of more than 50% y-o-y. Carrier billing revenues were robust with double-digit growth. The adjusted EBITDA margin is expected to be broadly flat versus FY23 as Boku invests to support core back-end infrastructure. We have raised our revenue forecasts while trimming our EBITDA forecasts to reflect this investment, which should support stronger growth in the medium term. The company has appointed a new CFO, Rob Whittick, with immediate effect.