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

<h2>Company profile</h2><p>Zenkoku Hosho is an independent mortgage guarantee company with guarantee exposure of 14.6trn yen (end- FY3/21). It has partnerships with 744 financial institutions nationwide. Stock revenue has been growing due to the increase in the guarantee exposure, whereas credit costs have remained at a low level. The company has made it clear that it aims to grow through M&amp;A.</p>

Company profileZenkoku Hosho is an independent mortgage guarantee company with guarantee exposure of 14.6trn yen (end- FY3/21). It has partnerships with 744 financial institutions nationwide. Stock revenue has been growing due to the increase in the guarantee exposure, whereas credit costs have remained at a low level. The company has made it clear that it aims to grow through M&amp;A.

Zenkoku Hosho (7164): 1H Results Look Positive.