Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Sanrio: The Market Is a Bit Too Excited About The Licensing Agreement With Alifish

Samsung Publishing - Pinkfong Rocks Youtube

Event-Driven

<ul>
<li>On 30 June 2022, Sanrio reached a five year licensing deal with Alifish, which will cover Sanrio’s cast of popular characters including Hello Kitty and Kuromi in China.</li>
<li>In July 2020, Shintaro Tsuji (founder of the company) handed over control of Sanrio to his 31 year old (as of 2020) grandson Tomokuni Tsuji.</li>
<li>Despite the longevity of Hello Kitty as well as the recent partnership with Alifish (Alibaba's subsidiary) to expand its business in China, we remain concerned with Sanrio's lofty valuation multiples.</li>
</ul>


On 30 June 2022, Sanrio reached a five year licensing deal with Alifish, which will cover Sanrio’s cast of popular characters including Hello Kitty and Kuromi in China.
In July 2020, Shintaro Tsuji (founder of the company) handed over control of Sanrio to his 31 year old (as of 2020) grandson Tomokuni Tsuji.
Despite the longevity of Hello Kitty as well as the recent partnership with Alifish (Alibaba's subsidiary) to expand its business in China, we remain concerned with Sanrio's lofty valuation multiples.


Sanrio - Hello Kitty and Kuromi Characters to Expand in China But Valuations Remain Lofty