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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

<h2>Company profile</h2>
<p>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.</p>
<h3>Target price changed to 5,600 yen due to stock split</h3>
<p>Fast Fitness Japan (7092, FFJ, the company) will conduct a 1:1.2 stock split with September 30 as the record date and October 1 as the effective date. As a result, we have revised our assumptions for the number of shares outstanding used in our earnings forecasts and have changed our target price from 6,700 yen to 5,600 yen. The changes to our earnings forecast are limited to changes in per-share indicators (EPS, BPS, DPS). Our view on the company's fundamentals remains unchanged, and we reiterate the Buy rating.</p>

Company profile
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.
Target price changed to 5,600 yen due to stock split
Fast Fitness Japan (7092, FFJ, the company) will conduct a 1:1.2 stock split with September 30 as the record date and October 1 as the effective date. As a result, we have revised our assumptions for the number of shares outstanding used in our earnings forecasts and have changed our target price from 6,700 yen to 5,600 yen. The changes to our earnings forecast are limited to changes in per-share indicators (EPS, BPS, DPS). Our view on the company's fundamentals remains unchanged, and we reiterate the Buy rating.

Fast Fitness Japan (7092): Target Price Changed Due to Stock Split