Norges Bank Puts Kirin On a Watchlist Over Ties with Myanmar Military Linked JV
We believe the market has already factored in the worst-case scenario for Kirin. That said, The Norges Bank putting Kirin on a watchlist could...
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Kose: At a New EV/OP Peak
On the back of the optimism over revenue growth from the Chinese cosmetics market, Japanese cosmetics companies with significant exposure to the...
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Shiseido: Lowballing 2021 Guidance
Previously, we questioned whether Shiseido is playing safe or departing from cost discipline as we felt that that the 4Q20 OP estimate was too low...
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Kose: China and E-Commerce Propels Kose’s Performance Towards the Pre-Pandemic Level
Even though there are indications that Kose could be relaxing cost controls, an implied 4QFY21 OPM of 2.5% seem conservative making an OP beat a...
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FANCL: Lowers FY21 Guidance Amidst Rising COVID Cases, Still Outperforming Peers
Fancl delivered 3QFY21 results today, which saw operating profit increase by 6.5% YoY to ¥3.8bn (consensus ¥3.97bn). The company’s revenue was down...
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