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>The company revised its revenue forecast to JPY178.6bn, with segment statistics based on JPY178.7bn remaining unchanged.</li><li>1H FY03/25 results: Revenue JPY91.7bn (+6.9% YoY), Operating profit JPY3.9bn (+33.2% YoY), Net income JPY3.5bn.</li><li>Direct Selling Group revenue rose 0.6% YoY; Food Group revenue increased 20.1% YoY, driven by Mister Donut.</li></ul>

The company revised its revenue forecast to JPY178.6bn, with segment statistics based on JPY178.7bn remaining unchanged.1H FY03/25 results: Revenue JPY91.7bn (+6.9% YoY), Operating profit JPY3.9bn (+33.2% YoY), Net income JPY3.5bn.Direct Selling Group revenue rose 0.6% YoY; Food Group revenue increased 20.1% YoY, driven by Mister Donut.

Duskin Co Ltd (4665 JP): 1H FY03/25 flash update

Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Japan Experts, Extraordinary Performance

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

<ul><li>Reflecting strengths and weaknesses – Q1 FY3/25 results presented contrasting elements in Duskin’s business.</li><li>Despite high hurdles YoY, the Food Group demonstrated sustained sales growth driven by the ‘Mister Donut’ chain.</li><li>However, cost inflation (involving personnel and manufacturing amongst others) and challenges in new customer acquisition at the Direct Selling Group contributed to a 7.5% decline in OP YoY. </li></ul>

Reflecting strengths and weaknesses – Q1 FY3/25 results presented contrasting elements in Duskin’s business.Despite high hurdles YoY, the Food Group demonstrated sustained sales growth driven by the ‘Mister Donut’ chain.However, cost inflation (involving personnel and manufacturing amongst others) and challenges in new customer acquisition at the Direct Selling Group contributed to a 7.5% decline in OP YoY. 

Duskin (4665 JP) - Q1 FY3/25 Results Update

<ul><li>The company revised its revenue forecast from JPY178.7bn to JPY178.6bn, with no segment adjustments disclosed.</li><li>Consolidated Q1 revenue rose 3.6% YoY to JPY45.2bn, marking the 14th consecutive quarter of revenue rise.</li><li>Consolidated operating profit for Q1 declined 7.5% YoY to JPY1.9bn, with OPM dipping 0.5pp YoY to 4.1%.</li></ul>

The company revised its revenue forecast from JPY178.7bn to JPY178.6bn, with no segment adjustments disclosed.Consolidated Q1 revenue rose 3.6% YoY to JPY45.2bn, marking the 14th consecutive quarter of revenue rise.Consolidated operating profit for Q1 declined 7.5% YoY to JPY1.9bn, with OPM dipping 0.5pp YoY to 4.1%.

Duskin Co Ltd (4665 JP): Q1 FY03/25 flash update

<ul><li>Food Group driving earnings – Q1-4 FY3/24 results were ahead of revised guidance for earnings, driven by solid growth at the Food Group with ‘Mister Donut’ chain restaurant experiencing increasing footfall and price hikes YoY.</li><li>Profits were also boosted by lower- than-planned investment costs at the Direct Selling Group (due in part to delays), although this highlights the challenges of raising sales volume in this mature business.</li><li>With the RFID investment project mostly complete, the company is in a position to benefit from cost savings YoY. </li></ul>

Food Group driving earnings – Q1-4 FY3/24 results were ahead of revised guidance for earnings, driven by solid growth at the Food Group with ‘Mister Donut’ chain restaurant experiencing increasing footfall and price hikes YoY.Profits were also boosted by lower- than-planned investment costs at the Direct Selling Group (due in part to delays), although this highlights the challenges of raising sales volume in this mature business.With the RFID investment project mostly complete, the company is in a position to benefit from cost savings YoY. 

Duskin (4665 JP) - Prospects for Further Progress on Positive Transformation

AZ-Com Maruwa Holdings / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/az-com-maruwa-holdings" target="_blank" data-smartkarma-citation="entities:17280:1" rel="noopener">AZ-Com Maruwa Holdings (9090 JP)</a> is a logistics company specializing in services for retailers.</li>
<li>In FY03/23, revenue was JPY177.8bn, operating profit was JPY11.4bn, recurring profit was JPY11.9bn, and net income attributable to owners of the parent was JPY7.8bn.</li>
<li>AZ-COM MARUWA Holdings Inc. announced that it has determined the number of shares to be issued  through a third-party allocation.</li>
</ul>



AZ-Com Maruwa Holdings (9090 JP) is a logistics company specializing in services for retailers.
In FY03/23, revenue was JPY177.8bn, operating profit was JPY11.4bn, recurring profit was JPY11.9bn, and net income attributable to owners of the parent was JPY7.8bn.
AZ-COM MARUWA Holdings Inc. announced that it has determined the number of shares to be issued  through a third-party allocation.


AZ-COM MARUWA Holdings (9090): 1H FY03/24 Update

Japan

DUSKIN CO., LTD. sells and leases cleaning equipment and commodity. The Company operates food franchise chain as well.

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Duskin Co Ltd (4665 JP)