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

The TOPIX Liquidity Factor Adjustment - Still a Trade To Do

Equity Bottom-Up

<ul><li>Upward revision of sales and profit guidance. A mix of good and bad news</li><li>The company raised its sales guidance by 350m yen and raised its EBITDA and OP guidance by 800m yen.</li><li>The upward revision of sales guidance is due to 1) higher recurring and non-recurring revenue in the Business domain and 2) higher non-recurring revenue in the Finance domain</li></ul>

Upward revision of sales and profit guidance. A mix of good and bad newsThe company raised its sales guidance by 350m yen and raised its EBITDA and OP guidance by 800m yen.The upward revision of sales guidance is due to 1) higher recurring and non-recurring revenue in the Business domain and 2) higher non-recurring revenue in the Finance domain

Money Forward (3994): Announced Upward Revision of 1Q Guidance