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>In cumulative Q3 FY09/25, volume handled declined 0.1% YoY to JPY87.1bn, while operating revenue increased 8.4% YoY to JPY20.0bn.</li><li>Online Travel Agency segment revenue rose 12.3% YoY to JPY19.7bn, while IT Offshore Development revenue fell 89.9% YoY to JPY12mn.</li><li>Operating profit increased 0.3% YoY to JPY2.7bn, with the Investment segment profit rising 15.0% YoY to JPY390mn.</li></ul>

In cumulative Q3 FY09/25, volume handled declined 0.1% YoY to JPY87.1bn, while operating revenue increased 8.4% YoY to JPY20.0bn.Online Travel Agency segment revenue rose 12.3% YoY to JPY19.7bn, while IT Offshore Development revenue fell 89.9% YoY to JPY12mn.Operating profit increased 0.3% YoY to JPY2.7bn, with the Investment segment profit rising 15.0% YoY to JPY390mn.

Evolable Asia (6191 JP): Q3 FY09/25 flash update

<ul><li>In Q2 FY09/25, operating revenue increased 4.9% YoY to JPY13.10bn, with the Online Travel Agency segment growing 10.3% YoY.</li><li>Operating profit decreased 24.0% YoY to JPY1.5bn, with the Online Travel Agency segment profit rising 1.1% YoY to JPY2.1bn.</li><li>Achievement rates versus full-year FY09/25 forecast: volume handled at 42.0%, operating revenue at 46.8%, operating profit at 153.5%.</li></ul>

In Q2 FY09/25, operating revenue increased 4.9% YoY to JPY13.10bn, with the Online Travel Agency segment growing 10.3% YoY.Operating profit decreased 24.0% YoY to JPY1.5bn, with the Online Travel Agency segment profit rising 1.1% YoY to JPY2.1bn.Achievement rates versus full-year FY09/25 forecast: volume handled at 42.0%, operating revenue at 46.8%, operating profit at 153.5%.

Evolable Asia (6191 JP): 1H FY09/25 flash update

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.


JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

<ul><li>In FY09/24, operating revenue increased by 13.9% YoY to JPY26.6bn, driven by travel demand recovery.</li><li>The investment segment's revenue surged to JPY1.9bn in FY09/24, compared to JPY46mn in the previous year.</li><li>For FY09/25, the company forecasts operating profit to decline by 58.4% YoY to JPY1.0bn.</li></ul>

In FY09/24, operating revenue increased by 13.9% YoY to JPY26.6bn, driven by travel demand recovery.The investment segment's revenue surged to JPY1.9bn in FY09/24, compared to JPY46mn in the previous year.For FY09/25, the company forecasts operating profit to decline by 58.4% YoY to JPY1.0bn.

Evolable Asia (6191 JP): Full-year FY09/24 flash update

<ul><li>Volume handled increased by 20.2% YoY to JPY87.1bn, with operating revenue up 10.3% YoY to JPY18.5bn.</li><li>Gross profit forecasts for Q3 FY09/24 are JPY1.2bn for July, JPY1.0bn for August, and JPY970mn for September.</li><li>Operating profit for Q3 FY09/24 was JPY2.7bn, maintaining the same level as FY09/23 while executing growth investments.</li></ul>

Volume handled increased by 20.2% YoY to JPY87.1bn, with operating revenue up 10.3% YoY to JPY18.5bn.Gross profit forecasts for Q3 FY09/24 are JPY1.2bn for July, JPY1.0bn for August, and JPY970mn for September.Operating profit for Q3 FY09/24 was JPY2.7bn, maintaining the same level as FY09/23 while executing growth investments.

Evolable Asia (6191 JP): Q3 FY09/24 flash update

Japan

Evolable Asia Corp. is an online travel agency providing airline tickets and overseas hotel booking through direct-sales websites and OEM. The company also engages in offshore development in Southeast Asia and inbound trip services.

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Evolable Asia (6191 JP)