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 FY03/26 sales decreased by 5.3% YoY, but operating profit increased by 22.1% due to price hikes.</li><li>Orders declined due to fewer multi-year renewals, but segment profit rose by 58.7% YoY from profitability measures.</li><li>Orders and sales fell significantly due to Azbil Telstar stake sale, impacting segment profit and margins.</li></ul>

Q1 FY03/26 sales decreased by 5.3% YoY, but operating profit increased by 22.1% due to price hikes.Orders declined due to fewer multi-year renewals, but segment profit rose by 58.7% YoY from profitability measures.Orders and sales fell significantly due to Azbil Telstar stake sale, impacting segment profit and margins.

Azbil Corp (6845 JP): Q1 FY03/26 flash update

<ul><li>FY03/25 results: Sales JPY300.4bn (+3.2% YoY), operating profit JPY41.5bn (+12.6% YoY), net income JPY41.0bn (+35.6% YoY).</li><li>Medium-term plan targets: FY03/28 sales JPY340.0bn, operating profit JPY51.0bn, ROE 14%, focusing on core and growth businesses.</li><li>Long-term targets for FY03/31: Sales JPY420.0bn, operating profit JPY65.0bn, ROE 15%, revised upward from initial targets.</li></ul>

FY03/25 results: Sales JPY300.4bn (+3.2% YoY), operating profit JPY41.5bn (+12.6% YoY), net income JPY41.0bn (+35.6% YoY).Medium-term plan targets: FY03/28 sales JPY340.0bn, operating profit JPY51.0bn, ROE 14%, focusing on core and growth businesses.Long-term targets for FY03/31: Sales JPY420.0bn, operating profit JPY65.0bn, ROE 15%, revised upward from initial targets.

Azbil Corp (6845 JP): Full-year FY03/25 flash update

<ul><li>Cumulative Q3 FY 03/25 sales reached JPY217.9bn, a 6.1% YoY increase, with operating profit at JPY26.8bn.</li><li>Orders in Advanced Automation fell 3.4% YoY, while Building Automation orders increased 8.9% YoY, Life Automation grew 0.9%.</li><li>Net income rose 49.7% YoY to JPY28.7bn, driven by an extraordinary gain from the sale of Azbil Telstar.</li></ul>

Cumulative Q3 FY 03/25 sales reached JPY217.9bn, a 6.1% YoY increase, with operating profit at JPY26.8bn.Orders in Advanced Automation fell 3.4% YoY, while Building Automation orders increased 8.9% YoY, Life Automation grew 0.9%.Net income rose 49.7% YoY to JPY28.7bn, driven by an extraordinary gain from the sale of Azbil Telstar.

Azbil Corp (6845 JP): Q3 FY03/25 flash update

<ul><li>1H FY 03/25 sales reached JPY139.3bn, a 5.6% YoY increase, surpassing the initial forecast of JPY134bn.</li><li>Operating profit increased 12.8% YoY to JPY14.6bn, driven by BA business growth, despite AA and LA declines.</li><li>Net income decreased 8.3% YoY due to reduced extraordinary gains, despite recurring profit rising 2.5% YoY.</li></ul>

1H FY 03/25 sales reached JPY139.3bn, a 5.6% YoY increase, surpassing the initial forecast of JPY134bn.Operating profit increased 12.8% YoY to JPY14.6bn, driven by BA business growth, despite AA and LA declines.Net income decreased 8.3% YoY due to reduced extraordinary gains, despite recurring profit rising 2.5% YoY.

Azbil Corp (6845 JP): 1H FY03/25 flash update

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There are 15 stocks in Japan that will be sold by passive trackers at the close on 31 May.</li>
<li>Short interest has been increasing in these stocks over the last few months and there will be covering on implementation date.</li>
<li>Cumulative excess volume on all stocks has risen in the last couple of months though the pace of the increase has varied.</li>
</ul>


There are 15 stocks in Japan that will be sold by passive trackers at the close on 31 May.
Short interest has been increasing in these stocks over the last few months and there will be covering on implementation date.
Cumulative excess volume on all stocks has risen in the last couple of months though the pace of the increase has varied.


Japan - Another Big Round of Passive Selling

Japan

Azbil Corporation develops, manufactures, and markets total automation equipment used in industrial and commercial buildings. The Company's products include sensors, switches, recording meters, security systems, air conditioners, pressure transmitters, and flow meters.

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Azbil Corp (6845 JP)