Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

Japan Experts, Extraordinary Performance

Equity Bottom-Up

<ul><li>Demonstrating dependable growth – Q1-3 FY3/2024 results were in line with company guidance, driven by a combination of demand recovery in the Americas, sustained growth for Shofu’s competitive Chemical Products (CAD/CAM resin materials and restorative filling materials), and a forex tailwind - overseas sales made up 57.4% of total sales, indicating stable progress towards the long-term target of 66.0%.</li><li>Shofu’s focus on business investment in R&amp;D, recruitment, and sales activities has resulted in a limited growth profile at the operating profit level for the period (+3.9% YoY), but we believe a boost in sales volume will drive a margin enhancement into Q4 FY3/2024 and beyond.</li><li><p>Americas and China gaining momentum – the highlight for Q1-3 FY3/2024 was sales growth in North America &amp; Latin America growing 4.1% YoY versus a 4.5% decline in Q1-2 FY3/2024. China also maintained strong momentum with sales growth of 16.5% YoY, and Europe remained steady at 16.8% YoY</p></li></ul>

Demonstrating dependable growth – Q1-3 FY3/2024 results were in line with company guidance, driven by a combination of demand recovery in the Americas, sustained growth for Shofu’s competitive Chemical Products (CAD/CAM resin materials and restorative filling materials), and a forex tailwind - overseas sales made up 57.4% of total sales, indicating stable progress towards the long-term target of 66.0%.Shofu’s focus on business investment in R&amp;D, recruitment, and sales activities has resulted in a limited growth profile at the operating profit level for the period (+3.9% YoY), but we believe a boost in sales volume will drive a margin enhancement into Q4 FY3/2024 and beyond.Americas and China gaining momentum – the highlight for Q1-3 FY3/2024 was sales growth in North America &amp; Latin America growing 4.1% YoY versus a 4.5% decline in Q1-2 FY3/2024. China also maintained strong momentum with sales growth of 16.5% YoY, and Europe remained steady at 16.8% YoY

Shofu (7979) - Marked Recovery QoQ and in Line with Expectations

Shofu Inc

Shofu (7979) - Marked Recovery QoQ and in Line with Expectations