In today’s briefing:
- Toshiba – ISS Advises Against Breakup Plan
- Capcom – Street Fighter 6 and ExoPrimal Strengthen Pipeline
- Square Enix – Four Games at State of Play Show Depth of Content
- Koei Tecmo – Some Nice Signs But Downside Risks Need To Be Priced In First
- Japan’s Governance: ESG Fund Considerations
- Komeda Holdings (3543): Solid February Wholesale Sales Amid Difficult Environment
Toshiba – ISS Advises Against Breakup Plan
- This morning Institutional Shareholder Services recommended against both Toshiba’s break up plan and 3D’s alternative proposal.
- Both proposals looked uncertain and with ISS coming out against them it now appears more likely that both will be rejected.
- That leaves Toshiba in limbo once again and we aren’t convinced the exit will be a privatisation.
Capcom – Street Fighter 6 and ExoPrimal Strengthen Pipeline
- Following on from a recent Street Fighter 6 reveal, Capcom announced new IP Exoprimal at today’s Sony State of Play.
- The two announcements strengthen Capcom’s pipeline for FY23 and FY24 although leaks had already revealed the likely launch timing of SF6.
- Exoprimal is new news, however, and provides a glimpse into Capcom’s strategic thinking.
Square Enix – Four Games at State of Play Show Depth of Content
- Square Enix had four of the twelve titles featured at today’s Sony State of Play.
- While none of the titles was one of they IPs for Square Enix they demonstrate the depth of IP possessed.
- In addition, the trailers point to Square Enix’s domestic development studios maintaining high quality standards even for smaller titles.
Koei Tecmo – Some Nice Signs But Downside Risks Need To Be Priced In First
- Koei Tecmo appears to have made some strides in improving the quality of Stranger of Paradise: Final Fantasy Origins.
- This bodes well for the future of its business effectively reskinning its in-house titles with popular outside IPs.
- This makes us more interested in the name but we are still waiting for the shoe to drop on investment income.
Japan’s Governance: ESG Fund Considerations
- Regarding “ESG Funds Performance” featured in Rapid Response, I would like to consider it in conjunction with an article on ESG funds that was published in Nikkei on February 6.
- In fact, ESG funds are already underperforming when it comes to active funds. It is believed that there have been issues with stock picks.
- As far environment, Metrical doesn’t believe in excluding it because it is in energy/commodities sector. We look at how the company is thinking and acting and moving forward on ESG.
Komeda Holdings (3543): Solid February Wholesale Sales Amid Difficult Environment
Komeda’s February same-store wholesale sales 97.2% vs. 2021, 102.9% vs. 2019
SSS vs. 2019 for food service companies: Omicron impact in February
Stock price trends for restaurant companies: Outperforming TOPIX despite downtrend
Before it’s here, it’s on Smartkarma
