Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>Q1 FY03/27 revenue increased 6.4% YoY, driven by scaffolding equipment sales and rentals, with operating profit up 21.6% YoY.</li><li>Scaffolding equipment rental market revenue rose 16.4% YoY, with segment profit increasing 75.6% YoY due to Albatross sales.</li><li>Revenue from brown rice refrigerators and high-altitude workbenches remained strong, but aluminum ladder sales declined, causing a 2.6% YoY revenue drop.</li></ul>

Q1 FY03/27 revenue increased 6.4% YoY, driven by scaffolding equipment sales and rentals, with operating profit up 21.6% YoY.Scaffolding equipment rental market revenue rose 16.4% YoY, with segment profit increasing 75.6% YoY due to Albatross sales.Revenue from brown rice refrigerators and high-altitude workbenches remained strong, but aluminum ladder sales declined, causing a 2.6% YoY revenue drop.

Alinco Inc (5933 JP): Q1 FY03/27 flash update

<ul><li>Revenue increased 2.3% YoY to JPY48.3bn, with operating profit up 5.3% YoY; recurring profit slightly declined.</li><li>Segment revenue rose YoY, but profit declined due to a sales mix favoring lower-margin, high-volume items.</li><li>Revenue from firefighter radios surged 190.6% YoY, but segment loss was JPY357mn due to production capacity delays.</li></ul>

Revenue increased 2.3% YoY to JPY48.3bn, with operating profit up 5.3% YoY; recurring profit slightly declined.Segment revenue rose YoY, but profit declined due to a sales mix favoring lower-margin, high-volume items.Revenue from firefighter radios surged 190.6% YoY, but segment loss was JPY357mn due to production capacity delays.

Alinco Inc (5933 JP): Q3 FY03/26 flash update

<ul><li>Revenue increased by 3.0% YoY to JPY31.7bn, achieving 50.0% of the full-year forecast, while operating profit fell 4.4% YoY.</li><li>Segment revenue for scaffolding equipment rose 3.7% YoY to JPY13.0bn, but segment profit decreased 24.0% YoY.</li><li>Revenue from digital firefighter radios grew 12.3% YoY to JPY2.7bn, narrowing the segment loss compared to 1H FY03/25.</li></ul>

Revenue increased by 3.0% YoY to JPY31.7bn, achieving 50.0% of the full-year forecast, while operating profit fell 4.4% YoY.Segment revenue for scaffolding equipment rose 3.7% YoY to JPY13.0bn, but segment profit decreased 24.0% YoY.Revenue from digital firefighter radios grew 12.3% YoY to JPY2.7bn, narrowing the segment loss compared to 1H FY03/25.

Alinco Inc (5933 JP): 1H FY03/26 flash update

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<div>
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/147/085/original/2020-07-21_06-31-46.png?1595280841" class="editor-image img-responsive" data-smartkarma-image-id="147085"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/147/086/original/2020-07-21_06-31-04.png?1595281006" class="editor-image img-responsive" data-smartkarma-image-id="147086"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/147/087/original/2020-07-21_06-44-10.png?1595281527" class="editor-image img-responsive" data-smartkarma-image-id="147087"></figure><div class="content-caption">Source • Japan Analytics</div>
<p><strong>Genky DrugStores (9267 JP)</strong> - Genky, listed in December 2017 and the eleventh largest listed drugstore chain in Japan, <span>was nearly Oversold in the first quarter.</span><span> As a result, the shares have been the best performing in the fifteen-string Peer Group over the last three months. The company's upward revisions to sales and operating profits of 9% and 21%, respectively match peer-trends. The recent share price rally has brought Genky back into line. The company is, however, one of only three chains that fail to earn a positive residual return on Net Operating Assets, Genky also has the highest debt/equity ratio of any listed chain. The company does not deserve any peer-premium, and we would sell into any revision-induced strength.</span></p>
<p style="text-align: center;"><strong>DAILY STATS</strong></p>
</div><hr><div><p style="text-align: center;"><strong>2 Quarterly Results</strong></p></div><div><ul>
<li>
<strong>Results Score</strong>: 0 Positive / 0 Neutral / 2 Negative</li>
<li>
<strong>Average Results Score Change:</strong> -7.0</li>
<li>
<strong>Average % Change in Revenue:</strong> -12..% Quarter YoY / +0.8% Rolling TTM YoY</li>
<li>
<strong>Average Operating Profit Margin Change:</strong> +0.1ppt</li>
<li>
<strong>Percentage Making Quarterly Losses:</strong> 0%</li>
</ul></div><hr><div><p style="text-align: center;"><br><strong>4 Annual • 8 Interim Forecasts/Revisions</strong></p></div><div><ul>
<li>
<strong>Annual Forecast/Revision Score:</strong> 1 Positive / 1 Neutral / 2 Negative</li>
<li>
<strong>Interim Forecast/Revision Score Change:</strong> 2 Positive / 0 Neutral / 6 Negative</li>
<li>
<strong>Average Forecast/Revision Score Change:</strong> -6.8</li>
</ul></div>


Source • Japan Analytics
Genky DrugStores (9267 JP) - Genky, listed in December 2017 and the eleventh largest listed drugstore chain in Japan, was nearly Oversold in the first quarter. As a result, the shares have been the best performing in the fifteen-string Peer Group over the last three months. The company's upward revisions to sales and operating profits of 9% and 21%, respectively match peer-trends. The recent share price rally has brought Genky back into line. The company is, however, one of only three chains that fail to earn a positive residual return on Net Operating Assets, Genky also has the highest debt/equity ratio of any listed chain. The company does not deserve any peer-premium, and we would sell into any revision-induced strength.
DAILY STATS
2 Quarterly Results

Results Score: 0 Positive / 0 Neutral / 2 Negative

Average Results Score Change: -7.0

Average % Change in Revenue: -12..% Quarter YoY / +0.8% Rolling TTM YoY

Average Operating Profit Margin Change: +0.1ppt

Percentage Making Quarterly Losses: 0%
 4 Annual • 8 Interim Forecasts/Revisions

Annual Forecast/Revision Score: 1 Positive / 1 Neutral / 2 Negative

Interim Forecast/Revision Score Change: 2 Positive / 0 Neutral / 6 Negative

Average Forecast/Revision Score Change: -6.8


🇯🇵 JAPAN • Results & Revisions 20th July - Genki Genky, Alinco, Komatsu Wall, GMO-AD Partners

<ul><li>Q1 FY03/26 revenue rose 6.1% YoY to JPY15.4bn; operating profit increased 16.9% YoY to JPY644mn.</li><li>Recurring profit fell 20.5% YoY to JPY614mn; net income attributable to owners dropped 40.4% YoY to JPY399mn.</li><li>Construction demand and rental shifts impacted segment revenues and profits, with mixed YoY results across business areas.</li></ul>

Q1 FY03/26 revenue rose 6.1% YoY to JPY15.4bn; operating profit increased 16.9% YoY to JPY644mn.Recurring profit fell 20.5% YoY to JPY614mn; net income attributable to owners dropped 40.4% YoY to JPY399mn.Construction demand and rental shifts impacted segment revenues and profits, with mixed YoY results across business areas.

Alinco Inc (5933 JP): Q1 FY03/26 flash update

Japan

ALINCO INCORPORATED manufactures and leases steel and metal products.  The Company's main products are scaffolds and other metal products mainly used at construction sites.  Alinco also produces steps, stepladders, and electronic equipment.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alinco Inc (5933 JP)