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>On May 16, Ohsho Food Service (9936, the company) announced FY3/22 full-year sales of 84.775bn yen (+5.1% YoY), OP of 6.959bn yen (+14.6% YoY), and RP of 13.024bn yen (+89.7% YoY)</li><li>4Q (Jan-Mar) OP was 1.938bn yen (+33.7% YoY; +6.0% QoQ), and OPM was 8.8% (7.2% in 4Q FY3/21; 8.2% in 3Q)</li><li>The company’s guidance for FY3/23 is sales of 90.029bn yen (+6.2% YoY), OP of 7.516bn yen (+8.0% YoY), OPM 8.3% (+0.1ppt YoY) and RP of 8.627bn yen (-33.8% YoY)</li></ul>

On May 16, Ohsho Food Service (9936, the company) announced FY3/22 full-year sales of 84.775bn yen (+5.1% YoY), OP of 6.959bn yen (+14.6% YoY), and RP of 13.024bn yen (+89.7% YoY)4Q (Jan-Mar) OP was 1.938bn yen (+33.7% YoY; +6.0% QoQ), and OPM was 8.8% (7.2% in 4Q FY3/21; 8.2% in 3Q)The company’s guidance for FY3/23 is sales of 90.029bn yen (+6.2% YoY), OP of 7.516bn yen (+8.0% YoY), OPM 8.3% (+0.1ppt YoY) and RP of 8.627bn yen (-33.8% YoY)

Ohsho Food Service (9936): OP Exceeds Our Forecast for Both FY3/22 Results and FY3/23 Guidance