In today’s briefing:
- Renesas – Synergies Outperform and Some Potentially Bad News for Arm
- Hokuhoku Financial (8377 JP) – Buyback Dynamics For March… 👀
- IHI (7013 JP): Ukraine Puts the Spotlight on Japanese Defense Contractors
- Japan’s Governance: Has Corporate Governance of Companies that Have Chosen Prime Market Improved?
- Ohsho Food Service (9936): Solid February Sales Despite Omicron Impact. Positive Effects of TV Show
Renesas – Synergies Outperform and Some Potentially Bad News for Arm
- Renesas’ investor day today focused on providing more details on existing themes such as the progress of synergies from Dialog.
- The strong overall growth outlook and progress offering integrated solutions was also emphasised.
- However, what we found most interesting was some of their commentary on RISC-V developments.
Hokuhoku Financial (8377 JP) – Buyback Dynamics For March… 👀
- Hokuhoku made a somewhat startling buyback announcement in late December and the shares jumped.
- Then they bought back almost nothing in January, and bought back 17.4% of traded volume in February.
- There is a lot left over and Hokuhoku remains one of the cheapest regional banks out there.
IHI (7013 JP): Ukraine Puts the Spotlight on Japanese Defense Contractors
- IHI likely to benefit from rising defense spending as events in Ukraine serve as a wake up call to a Japan already worried about North Korea and China.
- Japan’s top maker of jet engines and solid-fuel rockets. Also geared to the recovery of commercial air traffic and auto production, and to carbon neutral technologies.
- Sales and profit recovery underway. 60% upside to 15x FY Mar-24 EPS estimate.
Japan’s Governance: Has Corporate Governance of Companies that Have Chosen Prime Market Improved?
- This article discuss the degree of improvement in corporate governance practice initiatives over the past year, focusing on companies that have chosen a new market segment, particularly the prime market.
- Many companies that chose prime market have made progress in addressing the listing standards, and as a result, have made improvements primarily in board practice criteria specified in those standards.
- Retirement of treasury stock is also related to the listing criteria. For the other key actions, no significant trends were found, as it depends on the situation of each company.
Ohsho Food Service (9936): Solid February Sales Despite Omicron Impact. Positive Effects of TV Show
Monthly data for February: Positive impression
Ohsho Food Service (9936, the company) disclosed monthly data for its directly-owned stores for February (on a preliminary basis)
The company maintained solid sales despite Omicron impact, which gives us a positive impression.
Before it’s here, it’s on Smartkarma
