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 reported record revenue of JPY686.6bn, with operating profit at JPY105.0bn, and pre-tax profit down 10.3% YoY.</li><li>Effective Q1 FY03/25, the company adopted a new segmentation, increasing reportable segments to seven, impacting earnings reporting.</li><li>FY03/26 forecast includes revenue of JPY760.0bn, operating profit of JPY115.0bn, and annual dividend per share of JPY708.</li></ul>

The company reported record revenue of JPY686.6bn, with operating profit at JPY105.0bn, and pre-tax profit down 10.3% YoY.Effective Q1 FY03/25, the company adopted a new segmentation, increasing reportable segments to seven, impacting earnings reporting.FY03/26 forecast includes revenue of JPY760.0bn, operating profit of JPY115.0bn, and annual dividend per share of JPY708.

Hikari Tsushin (9435 JP): Full-year FY03/25 flash update

<ul><li>The company reported Q3 FY03/25 revenue of JPY498.8bn (+11.7% YoY) and operating profit of JPY86.6bn (+16.2% YoY).</li><li>Revised FY03/25 forecast: Revenue JPY670.0bn, operating profit JPY105.0bn, net income JPY115.0bn, driven by increased customer contracts.</li><li>Year-end dividend per share raised to JPY167, annual dividend JPY651, reflecting strong earnings and future developments.</li></ul>

The company reported Q3 FY03/25 revenue of JPY498.8bn (+11.7% YoY) and operating profit of JPY86.6bn (+16.2% YoY).Revised FY03/25 forecast: Revenue JPY670.0bn, operating profit JPY105.0bn, net income JPY115.0bn, driven by increased customer contracts.Year-end dividend per share raised to JPY167, annual dividend JPY651, reflecting strong earnings and future developments.

Hikari Tsushin (9435 JP): Q3 FY03/25 flash update, and revision of full-year earnings forecasts 

<ul><li>The company reported revenue of JPY325.8bn (+9.9% YoY) and operating profit of JPY57.4bn (+18.4% YoY).</li><li>Effective Q1 FY03/25, the company adopted new segmentation with seven reportable segments, retroactively adjusted for Q1 FY03/24.</li><li>The company announced a quarterly dividend of JPY161 per share, raising annual dividend forecast to JPY639 per share.</li></ul>

The company reported revenue of JPY325.8bn (+9.9% YoY) and operating profit of JPY57.4bn (+18.4% YoY).Effective Q1 FY03/25, the company adopted new segmentation with seven reportable segments, retroactively adjusted for Q1 FY03/24.The company announced a quarterly dividend of JPY161 per share, raising annual dividend forecast to JPY639 per share.

Hikari Tsushin (9435 JP): 1H FY03/25 flash update, dividend payment, and dividend forecast revision

<ul><li>The company reported revenue of JPY146.2bn (+4.3% YoY) and operating profit of JPY27.2bn (+13.6% YoY) in Q1 FY03/25.</li><li>Effective Q1 FY03/25, the company adopted a new segmentation with seven reportable segments, retroactively adjusted for Q1 FY03/24.</li><li>Financial income was JPY35.1bn (+68.8% YoY), and the company decided to pay a quarterly dividend of JPY156 per share.</li></ul>

The company reported revenue of JPY146.2bn (+4.3% YoY) and operating profit of JPY27.2bn (+13.6% YoY) in Q1 FY03/25.Effective Q1 FY03/25, the company adopted a new segmentation with seven reportable segments, retroactively adjusted for Q1 FY03/24.Financial income was JPY35.1bn (+68.8% YoY), and the company decided to pay a quarterly dividend of JPY156 per share.

Hikari Tsushin (9435 JP): Q1 FY03/25 flash update and dividend forecast revision 

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Activist Strategic Capital has made shareholder noise at civil engineer-road infra company <a href="https://www.smartkarma.com/entities/seikitokyu-kogyo-co-ltd" target="_blank" data-smartkarma-citation="entities:7819:1" rel="noopener">Seikitokyu Kogyo (1898 JP)</a> for years. Two years ago I wrote about Seikitokyu as "A REALLY Cheap Company."</li>
<li>When I wrote, it was ¥885/share. 23 months later it was ¥824/share having paid ¥60/share over two years. <em>Despite having bought back 10% of shares outstanding in the interim.</em>
</li>
<li>Today they announced a radical new Shareholder Return Policy. It is worth reading in detail. The insight is labelled BEARISH for a specific reason. That's a detail too. </li>
</ul>


Activist Strategic Capital has made shareholder noise at civil engineer-road infra company Seikitokyu Kogyo (1898 JP) for years. Two years ago I wrote about Seikitokyu as "A REALLY Cheap Company."
When I wrote, it was ¥885/share. 23 months later it was ¥824/share having paid ¥60/share over two years. Despite having bought back 10% of shares outstanding in the interim.

Today they announced a radical new Shareholder Return Policy. It is worth reading in detail. The insight is labelled BEARISH for a specific reason. That's a detail too. 


JAPAN GOVERNANCE CHANGES III:  New Return Policy at Seikitokyu (1898) - To Be Copied Elsewhere?

Japan

HIKARI TSUSHIN, INC. is a mobile telecommunication service subscription agency. The Company also operates telecommunication services stores, HIT SHOP, which sell cellular telephones, and related goods.  Hikari Tsushin also sells office automation equipment and insurance.

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Hikari Tsushin (9435 JP)