Research from Mita Securities, Mita Securities

Mita Securities

Mita Securities provides a full scale diversified investment banking and financial services. A comprehensive investment banking department, specializes in rights offerings advisory, take-over bids agents, M&A etc. Including a proprietary trading desk, and wealth management department that offers brokerage, custody, real estate, and full proxy services.

Research from Mita Securities

TOPIX January 2022 FFW Rebalance - Much Nothing To Do

Equity Bottom-Up

Fast Fitness Japan Inc / Equity Bottom-Up

<ul><li>FFJ operates the 24-hour machine-focused fitness club Anytime Fitness mainly through a franchise system, with 924 stores and 595,000 members as of June 30,2021.</li><li>1H OP progress strong at 59% of full-year guidance and downward revision of new store opening target</li><li>Number of members continues to recover showing a positive sign</li></ul>

FFJ operates the 24-hour machine-focused fitness club Anytime Fitness mainly through a franchise system, with 924 stores and 595,000 members as of June 30,2021.1H OP progress strong at 59% of full-year guidance and downward revision of new store opening targetNumber of members continues to recover showing a positive sign

Fast Fitness Japan (7092): 1H OP Progress Strong at 59%; Membership Recovery Continues