bullish
Japan Eyewear Holdings (5889 JP): Amid China Fear There Are Reasons to Still Stay Bullish
319 Views19 Sep 2024 00:44
SUMMARY
- Japan Eyewear Holdings (5889 JP) reported 30% YoY revenue growth in H1FY25. Profit margins also remained high, with operating profit margin exceeding 33% and operating profit reaching ¥2.7B, 1.5x YoY.
- The company has left FY25 guidance unchanged. The company’s cautious stance, yen appreciation, and darkening outlook of China amid weak economic data are the major downside risks.
- We think reactions are overdone. Limited downside is expected from here. Encouraging SSS growth through continuous increases in unit price and accelerated store expansion will remain the key growth drivers.
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