Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Senior Technology Analyst, Japanese Equities

MonotaRO (3064 JP) : Off to a Good Start in 1Q

Equity Bottom-Up

<p>The company's efforts to expand its customer base and improve its logistics (primarily by establishing a new distribution center) are bearing fruit in spite of a widely-publicized shortage of truck drivers in Japan. The number of new accounts acquired was up 25.3% year-on-year in the three months to June vs. 22.6% growth in Q1 and 16.1% growth in FY Dec-16. Parent company sales were up 26.3% in Q2 vs. 23.0% growth in Q1. These numbers support our full-year forecast. Consolidated results are…</p>

The company's efforts to expand its customer base and improve its logistics (primarily by establishing a new distribution center) are bearing fruit in spite of a widely-publicized shortage of truck drivers in Japan. The number of new accounts acquired was up 25.3% year-on-year in the three months to June vs. 22.6% growth in Q1 and 16.1% growth in FY Dec-16. Parent company sales were up 26.3% in Q2 vs. 23.0% growth in Q1. These numbers support our full-year forecast. Consolidated results are…

MonotaRO (3064 JP) : Customer Acquisition Accelerates in 2Q

MonotaRO Co Ltd

MonotaRO (3064 JP) : Customer Acquisition Accelerates in 2Q