Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>These shares have been a dreadful performer this year. They have fallen 55% from their mid-January high and now trade at 1x book and yield 2.7%. They are on 11x 2/19 official earnings. But the forecast will not be met. The company had a dreadful first quarter but did not revise down for the full year. The reason given was that it was too soon and the outlook remains unclear. In any case it is clear to us; the operating profit forecast of Y7.6bn (+12%) will not be met. We suspect a figure in the…</p>

These shares have been a dreadful performer this year. They have fallen 55% from their mid-January high and now trade at 1x book and yield 2.7%. They are on 11x 2/19 official earnings. But the forecast will not be met. The company had a dreadful first quarter but did not revise down for the full year. The reason given was that it was too soon and the outlook remains unclear. In any case it is clear to us; the operating profit forecast of Y7.6bn (+12%) will not be met. We suspect a figure in the…

Idom (7599) Shares Very Oversold but a Downward Revision Still to Come. A Trade After That.

IDOM Inc

Idom (7599) Shares Very Oversold but a Downward Revision Still to Come. A Trade After That.