Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

Japan Experts, Extraordinary Performance

Equity Bottom-Up

<ul><li>Improving sales mix lift gross margins – Gross margin increased to 65.9% in Q1 FY6/25 from 52.5% the previous year, demonstrating an improvement in the sales mix at the core Optical business segment which experienced demand for high-precision products with premium pricing.</li><li>While operating losses remained relatively flat YoY, the company is investing in IT systems that will improve its production and sales management which we believe will improve the quality of earnings, as well as assist in new business development.</li><li>Overall, we believe the company performed in line with guidance, with no change regarding expectations of the earnings profile to be concentrated in H2 FY6/25.</li></ul>

Improving sales mix lift gross margins – Gross margin increased to 65.9% in Q1 FY6/25 from 52.5% the previous year, demonstrating an improvement in the sales mix at the core Optical business segment which experienced demand for high-precision products with premium pricing.While operating losses remained relatively flat YoY, the company is investing in IT systems that will improve its production and sales management which we believe will improve the quality of earnings, as well as assist in new business development.Overall, we believe the company performed in line with guidance, with no change regarding expectations of the earnings profile to be concentrated in H2 FY6/25.

JTEC Corp (3446 JP) - Indications of Improving Returns

JTEC Corp/Osaka

JTEC Corp (3446 JP) - Indications of Improving Returns