'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)

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/015/original/2020-09-19_10-11-42.png?1600477913" class="editor-image img-responsive" data-smartkarma-image-id="160015"></figure><p><strong>NEW 2-YEAR $ HIGH?</strong> - With the Yen on a tear against the US Dollar and the TOPIX index focused more on the inauguration of the Suga-era rather than NASDAQ, TOPIX in US dollars terms is within 1.2% of a new two-year high and is 36% above the March low. A supporting factor has been the Bank of Japan's ETF purchase program which now appears to be anticipating currency-induced declines, rather than responding to actual decreases in TOPIX. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/020/original/2020-09-19_10-48-20.png?1600480112" class="editor-image img-responsive" data-smartkarma-image-id="160020"></figure><p><strong>BULL v. BEARS</strong> - The technical market bulls will point to the 50-day moving average now being above the 200-day average. Bears will caution that we are the upper end of both the Toraku and Absolute Breadth ranges and are now 'rolling over'. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/021/original/2020-09-19_11-10-05.png?1600481514" class="editor-image img-responsive" data-smartkarma-image-id="160021"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/022/original/2020-09-19_11-13-43.png?1600481635" class="editor-image img-responsive" data-smartkarma-image-id="160022"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/023/original/2020-09-19_11-14-25.png?1600481694" class="editor-image img-responsive" data-smartkarma-image-id="160023"></figure><p><strong>AN SME MARKET</strong> - As we noted last week, the ratio between TOPIX Small and TOPIX equalled its twenty-month high on Friday and could well reach parity if the Yen continues to appreciate. Indeed, the Value-Traded ratio is firmly in favour of a domestic small-cap-led market. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/025/original/2020-09-19_11-20-35.png?1600482049" class="editor-image img-responsive" data-smartkarma-image-id="160025"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/026/original/2020-09-19_11-24-09.png?1600482261" class="editor-image img-responsive" data-smartkarma-image-id="160026"></figure><p><strong>AGGREGATE RESULTS &amp; REVISION SCORES YET TO BOTTOM</strong> - On several days last week, positive scores outweighed negative ones, and on Thursday, only one company has scored negatively. Nevertheless, the trend in the cap-weighted aggregate Scores has yet to see any recovery in earnings momentum.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/040/original/2020-09-19_12-34-38.png?1600486493" class="editor-image img-responsive" data-smartkarma-image-id="160040"></figure><p><strong>33x FY2021</strong> - The gap between forecast and trailing aggregate operating income is now ¥6.5 trillion and ¥3.7 trillion for net income. The forward earnings multiple is 32.6 times close to three times 2018's trailing low.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/041/original/2020-09-19_13-55-21.png?1600491337" class="editor-image img-responsive" data-smartkarma-image-id="160041"></figure><hr><p style="text-align: center;"><strong>• BEST &amp; WORST RESULTS &amp; REViSIONS •</strong></p><p style="text-align: left;">The 'best' announcements on Friday were from home centre <a href="https://www.smartkarma.com/entities/dcm-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:13042:1" rel="noopener">DCM (3050 JP)</a> and, surprisingly, <a href="https://www.smartkarma.com/entities/h-u-group-holdings-inc" target="_blank" data-smartkarma-citation="entities:16580:1" rel="noopener">H.U. Group (4544 JP)</a> (formerly Miraca). </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/007/original/2020-09-19_09-47-20.png?1600476454" class="editor-image img-responsive" data-smartkarma-image-id="160007"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/009/original/2020-09-19_09-55-21.png?1600476933" class="editor-image img-responsive" data-smartkarma-image-id="160009"></figure><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div><p>Friday's 'worst' were from <a href="https://www.smartkarma.com/entities/asahi-diamond-industrial-co" target="_blank" data-smartkarma-citation="entities:9032:1" rel="noopener">Asahi Diamond (6140 JP)</a> and Albert (3906 JP) </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/010/original/2020-09-19_09-58-46.png?1600477139" class="editor-image img-responsive" data-smartkarma-image-id="160010"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/160/012/original/2020-09-19_10-00-34.png?1600477245" class="editor-image img-responsive" data-smartkarma-image-id="160012"></figure><hr><p style="text-align: center;"><strong>DAILY STATS</strong></p><hr><div></div><div><p><strong>Both of Fridays' results scored negatively with Internet marketing company Albert (3906 JP) being the 'worst' - as above. Forecasts and Revisions reverted to bein net negative again.</strong></p></div><hr><div><p style="text-align: center;"><strong> 17 Annual • 13 Interim Forecasts/Revisions</strong></p></div><div><ul style="list-style-type: disc;">
<li>Annual Forecast/Revision Score: 24% Positive / 16% Neutral / 65% Negative</li>
<li>Interim Forecast/Revision Score Change: 31% Positive / 0% Neutral / 69% Negative</li>
<li>Average Forecast/Revision Score Change: -6.4 points</li>
</ul></div>

NEW 2-YEAR $ HIGH? - With the Yen on a tear against the US Dollar and the TOPIX index focused more on the inauguration of the Suga-era rather than NASDAQ, TOPIX in US dollars terms is within 1.2% of a new two-year high and is 36% above the March low. A supporting factor has been the Bank of Japan's ETF purchase program which now appears to be anticipating currency-induced declines, rather than responding to actual decreases in TOPIX. BULL v. BEARS - The technical market bulls will point to the 50-day moving average now being above the 200-day average. Bears will caution that we are the upper end of both the Toraku and Absolute Breadth ranges and are now 'rolling over'. AN SME MARKET - As we noted last week, the ratio between TOPIX Small and TOPIX equalled its twenty-month high on Friday and could well reach parity if the Yen continues to appreciate. Indeed, the Value-Traded ratio is firmly in favour of a domestic small-cap-led market. AGGREGATE RESULTS &amp; REVISION SCORES YET TO BOTTOM - On several days last week, positive scores outweighed negative ones, and on Thursday, only one company has scored negatively. Nevertheless, the trend in the cap-weighted aggregate Scores has yet to see any recovery in earnings momentum.33x FY2021 - The gap between forecast and trailing aggregate operating income is now ¥6.5 trillion and ¥3.7 trillion for net income. The forward earnings multiple is 32.6 times close to three times 2018's trailing low.• BEST &amp; WORST RESULTS &amp; REViSIONS •The 'best' announcements on Friday were from home centre DCM (3050 JP) and, surprisingly, H.U. Group (4544 JP) (formerly Miraca). Source for all charts &amp; tables: Japan AnalyticsFriday's 'worst' were from Asahi Diamond (6140 JP) and Albert (3906 JP) DAILY STATSBoth of Fridays' results scored negatively with Internet marketing company Albert (3906 JP) being the 'worst' - as above. Forecasts and Revisions reverted to bein net negative again. 17 Annual • 13 Interim Forecasts/Revisions
Annual Forecast/Revision Score: 24% Positive / 16% Neutral / 65% Negative
Interim Forecast/Revision Score Change: 31% Positive / 0% Neutral / 69% Negative
Average Forecast/Revision Score Change: -6.4 points


🇯🇵 JAPAN • Market Update & Results & Revisions 09/​​​​​​​​​​18 - DCM, H.U., Strike

<p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p><p style="text-align: left;">Our 'best' and 'worst' pairing from yesterday's announcements is food and drink retailer <a href="https://www.smartkarma.com/entities/life-corp" target="_blank" data-smartkarma-citation="entities:1743:1" rel="noopener">Life (8194 JP)</a> and parking lot operator <a href="https://www.smartkarma.com/entities/park24-co-ltd" target="_blank" data-smartkarma-citation="entities:5622:1" rel="noopener">Park24 (4666 JP)</a>. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/159/223/original/2020-09-16_04-25-58.png?1600198055" class="editor-image img-responsive" data-smartkarma-image-id="159223"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/159/224/original/2020-09-16_04-31-11.png?1600198284" class="editor-image img-responsive" data-smartkarma-image-id="159224"></figure><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div><hr><div><p style="text-align: center;"><strong>DAILY STATS</strong></p></div><hr><div><p><strong>PERCENTAGES</strong> -<strong>57</strong>% of quarterly results, <strong>54%</strong> of annual forecasts/revisions and <strong>44%</strong> of interim forecasts have negative Score<strong>s. 57</strong>% of companies reporting lost money for the quarter. </p></div><div><p style="text-align: center;"><strong>7 Quarterly Results</strong></p></div><div><ul style="list-style-type: disc;">
<li>
<strong>Results Score</strong>: 29% Positive / 14% Neutral / 57% Negative</li>
<li>
<strong>Average Results Score Change:</strong> -1.7 points</li>
<li>
<strong>Average % Change in Revenue:</strong> +6.6% Quarter YoY / +12.5% Rolling TTM YoY </li>
<li>
<strong>Average Operating Profit Margin Change:</strong> -2.6ppt</li>
<li>
<strong>Percentage Making Quarterly Losses:</strong> 57%</li>
</ul></div><hr><div><p style="text-align: center;"><strong>13 Annual • 9 Interim Forecasts/Revisions</strong></p></div><div><ul style="list-style-type: disc;">
<li>
<strong>Annual Forecast/Revision Score:</strong> 46% Positive / 0% Neutral / 54% Negative</li>
<li>
<strong>Interim Forecast/Revision Score Change</strong>: 56% Positive / 0% Neutral / 44% Negative</li>
<li>
<strong>Average Forecast/Revision Score Change:</strong> +0.5 points</li>
</ul></div>

• BEST &amp; WORST •Our 'best' and 'worst' pairing from yesterday's announcements is food and drink retailer Life (8194 JP) and parking lot operator Park24 (4666 JP). Source for all charts &amp; tables: Japan AnalyticsDAILY STATSPERCENTAGES -57% of quarterly results, 54% of annual forecasts/revisions and 44% of interim forecasts have negative Scores. 57% of companies reporting lost money for the quarter. 7 Quarterly Results

Results Score: 29% Positive / 14% Neutral / 57% Negative

Average Results Score Change: -1.7 points

Average % Change in Revenue: +6.6% Quarter YoY / +12.5% Rolling TTM YoY 

Average Operating Profit Margin Change: -2.6ppt

Percentage Making Quarterly Losses: 57%
13 Annual • 9 Interim Forecasts/Revisions

Annual Forecast/Revision Score: 46% Positive / 0% Neutral / 54% Negative

Interim Forecast/Revision Score Change: 56% Positive / 0% Neutral / 44% Negative

Average Forecast/Revision Score Change: +0.5 points


🇯🇵 JAPAN • Results & Revisions 09/​​​​​​​15  -Park[24]ing Woes, Life in Life | Keiyo▲, Palma▼

<p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p><p style="text-align: left;">Our 'best' and 'worst' pairing from Monday's announcements is 'social e-commerce' business <a href="https://www.smartkarma.com/entities/enigmo-inc" target="_blank" data-smartkarma-citation="entities:7036:1" rel="noopener">Enigmo (3665 JP)</a> and tech and auto materials company <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR (4185 JP)</a> which has seen a 35-40% slump in auto-related demand. </p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/159/000/original/2020-09-15_05-00-30.png?1600113643" class="editor-image img-responsive" data-smartkarma-image-id="159000"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/159/001/original/2020-09-15_05-08-17.png?1600114115" class="editor-image img-responsive" data-smartkarma-image-id="159001"></figure><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div><hr><p style="text-align: center;"><strong>DAILY STATS</strong></p><hr><p><strong>IMPROVING</strong> -37% of quarterly results, 61% of annual forecasts/revisions and 40% of interim forecasts have negative Scores. Only 10% of companies reporting lost money for the quarter. Most of the Results metrics were positive for the first time in many months; revisions are still trending negatively.</p><p style="text-align: center;"><strong>41 Quarterly Results</strong></p><div><ul style="list-style-type: disc;">
<li>
<strong>Results Score:</strong> 44% Positive / 20% Neutral / 37% Negative</li>
<li>
<strong>Average Results Score Change: </strong>+0.9 points</li>
<li>
<strong>Average % Change in Revenue:</strong> +5.8% Quarter YoY / +5.6% Rolling TTM YoY </li>
<li>
<strong>Average Operating Profit Margin Change:</strong> 1.5ppt</li>
<li>
<strong>Percentage Making Quarterly Losses:</strong> 10%</li>
</ul></div><hr><div><p>23 Annual • 10 Interim Forecasts/Revisions</p></div><div><ul style="list-style-type: disc;">
<li>Annual Forecast/Revision Score: 22% Positive / 17% Neutral / 61% Negative</li>
<li>Interim Forecast/Revision Score Change: 50% Positive / 10% Neutral / 40% Negative</li>
<li>Average Forecast/Revision Score Change: -3.5 points</li>
</ul></div>

• BEST &amp; WORST •Our 'best' and 'worst' pairing from Monday's announcements is 'social e-commerce' business Enigmo (3665 JP) and tech and auto materials company JSR (4185 JP) which has seen a 35-40% slump in auto-related demand. Source for all charts &amp; tables: Japan AnalyticsDAILY STATSIMPROVING -37% of quarterly results, 61% of annual forecasts/revisions and 40% of interim forecasts have negative Scores. Only 10% of companies reporting lost money for the quarter. Most of the Results metrics were positive for the first time in many months; revisions are still trending negatively.41 Quarterly Results

Results Score: 44% Positive / 20% Neutral / 37% Negative

Average Results Score Change: +0.9 points

Average % Change in Revenue: +5.8% Quarter YoY / +5.6% Rolling TTM YoY 

Average Operating Profit Margin Change: 1.5ppt

Percentage Making Quarterly Losses: 10%
23 Annual • 10 Interim Forecasts/Revisions
Annual Forecast/Revision Score: 22% Positive / 17% Neutral / 61% Negative
Interim Forecast/Revision Score Change: 50% Positive / 10% Neutral / 40% Negative
Average Forecast/Revision Score Change: -3.5 points


🇯🇵 JAPAN • Results & Revisions 09/​​​​​​14 - Tsuruha, Kura Sushi, Arcland Sakamoto, JSR

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, the Philippines, Thailand, and Chinese ADRs.</li>
<li>Highest spreads: <strong><em><a href="https://www.smartkarma.com/entities/skyworth-group-limited" target="_blank" data-smartkarma-citation="entities:10941:1" rel="noopener">Skyworth (751 HK)</a>, <a href="https://www.smartkarma.com/entities/qoria-ltd" target="_blank" data-smartkarma-citation="entities:30531:1" rel="noopener">Qoria (QOR AU)</a>, <a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua (3991 HK)</a>, <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a>, <a href="https://www.smartkarma.com/entities/cygnus-metals-limited" target="_blank" data-smartkarma-citation="entities:30504:1" rel="noopener">Cygnus Metals (CY5 AU)</a>, <a href="https://www.smartkarma.com/entities/continental-aerospace-technologies-holding-ltd" target="_blank" data-smartkarma-citation="entities:15249:1" rel="noopener">Continental Aerospace Technologies (232 HK)</a>.</em></strong> </li>
<li>Lowest spreads: <strong><em><a href="https://www.smartkarma.com/entities/accent-group-ltd" target="_blank" data-smartkarma-citation="entities:14283:1" rel="noopener">Accent Group (AX1 AU)</a>, <a href="https://www.smartkarma.com/entities/taiyo-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15154:1" rel="noopener">Taiyo Holdings (4626 JP)</a>, <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/nippon-dry-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:13528:1" rel="noopener">Nippon Dry Chemical (1909 JP)</a>, <a href="https://www.smartkarma.com/entities/shinko-shoji-co-ltd" target="_blank" data-smartkarma-citation="entities:2322:1" rel="noopener">Shinko Shoji (8141 JP)</a>, <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>.</em></strong>    </li>
</ul>


I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, the Philippines, Thailand, and Chinese ADRs.
Highest spreads: Skyworth (751 HK), Qoria (QOR AU), Changhong Jiahua (3991 HK), Humm Group (HUM AU), Cygnus Metals (CY5 AU), Continental Aerospace Technologies (232 HK). 
Lowest spreads: Accent Group (AX1 AU), Taiyo Holdings (4626 JP), Kakaku.com Inc (2371 JP), Nippon Dry Chemical (1909 JP), Shinko Shoji (8141 JP), Atlas Arteria (ALX AU).    


Merger Arb Mondays (22 Jun) - Kakaku, Nippon Dry, Shinko Shoji, Accent, Humm, Qoria, Skyworth

<ul>
<li>I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, the Philippines, Thailand, and Chinese ADRs.</li>
<li>Highest spreads: <strong><em><a href="https://www.smartkarma.com/entities/skyworth-group-limited" target="_blank" data-smartkarma-citation="entities:10941:1" rel="noopener">Skyworth (751 HK)</a>, <a href="https://www.smartkarma.com/entities/qoria-ltd" target="_blank" data-smartkarma-citation="entities:30531:1" rel="noopener">Qoria (QOR AU)</a>, <a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua (3991 HK)</a>, <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a>, <a href="https://www.smartkarma.com/entities/j-s-b-co-ltd" target="_blank" data-smartkarma-citation="entities:46379:1" rel="noopener">J.S.B (3480 JP)</a>, <a href="https://www.smartkarma.com/entities/continental-aerospace-technologies-holding-ltd" target="_blank" data-smartkarma-citation="entities:15249:1" rel="noopener">Continental Aerospace Technologies (232 HK)</a>, <a href="https://www.smartkarma.com/entities/tourism-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2787:1" rel="noopener">Tourism Holdings (THL NZ)</a>. </em></strong>
</li>
<li>Lowest spreads: <strong><em><a href="https://www.smartkarma.com/entities/taiyo-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15154:1" rel="noopener">Taiyo Holdings (4626 JP)</a>, <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/nippon-dry-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:13528:1" rel="noopener">Nippon Dry Chemical (1909 JP)</a>, <a href="https://www.smartkarma.com/entities/australian-strategic-materials" target="_blank" data-smartkarma-citation="entities:30815:1" rel="noopener">Australian Strategic Materials (ASM AU)</a>, <a href="https://www.smartkarma.com/entities/shinko-shoji-co-ltd" target="_blank" data-smartkarma-citation="entities:2322:1" rel="noopener">Shinko Shoji (8141 JP)</a>, <a href="https://www.smartkarma.com/entities/kodensha-co-ltd-the" target="_blank" data-smartkarma-citation="entities:2741:1" rel="noopener">Kodensha Co (1948 JP)</a>. </em></strong>
</li>
</ul>


I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, the Philippines, Thailand, and Chinese ADRs.
Highest spreads: Skyworth (751 HK), Qoria (QOR AU), Changhong Jiahua (3991 HK), Humm Group (HUM AU), J.S.B (3480 JP), Continental Aerospace Technologies (232 HK), Tourism Holdings (THL NZ). 

Lowest spreads: Taiyo Holdings (4626 JP), Kakaku.com Inc (2371 JP), Nippon Dry Chemical (1909 JP), Australian Strategic Materials (ASM AU), Shinko Shoji (8141 JP), Kodensha Co (1948 JP). 



Merger Arb Mondays (15 Jun) - Skyworth, Changhong Jiahua, Con Aero, JSB, Nippon Dry, Steadfast

Japan

Arclands Corporation operates home centers. The Company mainly sells home improvement products, household utensils, car and leisure products, gardening supplies, and other products. Arclands also operates restaurants management, DIY(Do It Yourself) products sales, real estate development, and other businesses.

Price Gauge
52-week Range	0.00 - 0.00
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Arclands Corporation (9842 JP)

🇯🇵 JAPAN • Market Update & Results & Revisions 09/18 - DCM, H.U., Strike

• BEST & WORST • DAILY STATS Both of Fridays' results scored negatively 23 Annual • 10 Interim Forecasts/Revisions Annual...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 09/15 -Park[24]ing Woes, Life in Life | Keiyo▲, Palma▼

• BEST WORST •

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 09/14 - Tsuruha, Kura Sushi, Arcland Sakamoto, JSR

• BEST & WORST • DAILY STATS PERCENTAGES -50% of quarterly results, 66% of annual forecasts/revisions and 69% of interim forecasts...

Campbell Gunn

Merger Arb Mondays (22 Jun) - Kakaku, Nippon Dry, Shinko Shoji, Accent, Humm, Qoria, Skyworth

I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

Merger Arb Mondays (15 Jun) - Skyworth, Changhong Jiahua, Con Aero, JSB, Nippon Dry, Steadfast

I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

🇯🇵 JAPAN • Market Update & Results & Revisions 09/​​​​​​​​​​18 - DCM, H.U., Strike

• BEST & WORST • DAILY STATS Both of Fridays' results scored negatively 23 Annual • 10 Interim Forecasts/Revisions Annual...

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 09/​​​​​​​15 -Park[24]ing Woes, Life in Life | Keiyo▲, Palma▼

• BEST WORST •

Campbell Gunn

🇯🇵 JAPAN • Results & Revisions 09/​​​​​​14 - Tsuruha, Kura Sushi, Arcland Sakamoto, JSR

• BEST & WORST • DAILY STATS PERCENTAGES -50% of quarterly results, 66% of annual forecasts/revisions and 69% of interim forecasts...

Campbell Gunn

Merger Arb Mondays (22 Jun) - Kakaku, Nippon Dry, Shinko Shoji, Accent, Humm, Qoria, Skyworth

I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

Merger Arb Mondays (15 Jun) - Skyworth, Changhong Jiahua, Con Aero, JSB, Nippon Dry, Steadfast

I summarise the latest spreads and newsflow for the merger arb situations we cover across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

🇯🇵 JAPAN • Market Update & Results & Revisions 09/18 - DCM, H.U., Strike

🇯🇵 JAPAN • Results & Revisions 09/15 -Park[24]ing Woes, Life in Life | Keiyo▲, Palma▼

🇯🇵 JAPAN • Results & Revisions 09/14 - Tsuruha, Kura Sushi, Arcland Sakamoto, JSR