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 13, Skylark HD (3197, the company) announced 1Q FY12/22 sales of 67.1bn yen (+3.6% YoY; -10.5% QoQ), OP of -0.2bn yen (vs. -1.3bn yen loss in 1Q FY12/21; 10.8bn yen in 4Q)</li><li>1Q same-store sales increased 2.5% from FY12/21 and down 29.2% (our estimate) from FY12/19. The SSS was lower than the company’s 1Q SSS guidance (down 26% from FY12/19)</li><li>The number of stores at the end of 1Q was 3,098 stores (flat QoQ). The company opened 6 stores and closed 6 stores.</li></ul>

On May 13, Skylark HD (3197, the company) announced 1Q FY12/22 sales of 67.1bn yen (+3.6% YoY; -10.5% QoQ), OP of -0.2bn yen (vs. -1.3bn yen loss in 1Q FY12/21; 10.8bn yen in 4Q)1Q same-store sales increased 2.5% from FY12/21 and down 29.2% (our estimate) from FY12/19. The SSS was lower than the company’s 1Q SSS guidance (down 26% from FY12/19)The number of stores at the end of 1Q was 3,098 stores (flat QoQ). The company opened 6 stores and closed 6 stores.

Skylark Holdings (3197): 1Q OP in Line with Target

Skylark Co Ltd

Skylark Holdings (3197): 1Q OP in Line with Target