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

Equity Bottom-Up

<ul>
<li>We have lowered our target price from 2,750 yen to 2,350 yen. We maintain our Hold rating</li>
<li>The sales growth of large corporation business has been remarkable, while the sales growth of monogaro.com business, which accounts for approximately 80% of sales, has been calming down</li>
<li>The company's overseas subsidiaries (South Korea, Indonesia, and India) have not been able to grow sufficiently due to the impact of the pandemic and region-specific factors</li>
</ul>


We have lowered our target price from 2,750 yen to 2,350 yen. We maintain our Hold rating
The sales growth of large corporation business has been remarkable, while the sales growth of monogaro.com business, which accounts for approximately 80% of sales, has been calming down
The company's overseas subsidiaries (South Korea, Indonesia, and India) have not been able to grow sufficiently due to the impact of the pandemic and region-specific factors


MonotaRO: Lowering Our Earnings Forecast and Target Price

MonotaRO Co Ltd

MonotaRO: Lowering Our Earnings Forecast and Target Price