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.

Equity Bottom-Up

<ul><li>Q1-4 FY12/23 results were in line with company guidance, highlighting the stable growth profile of the Affiliate business segment.</li><li>In January 2024, the Japan Fair Trade Commission (JFTC) concluded its investigation by approving a Commitment Plan submitted by IBJ; we believe this is a positive development, allowing the company to focus on core operations and increase market confidence.</li><li>We believe a theme for FY12/24 will be upfront investments to drive longer-term growth, with integration efforts continuing with the O-net alliance, and initiatives to scale the Life Design business to transform into a material earnings pillar to drive long-term growth.</li></ul>

Q1-4 FY12/23 results were in line with company guidance, highlighting the stable growth profile of the Affiliate business segment.In January 2024, the Japan Fair Trade Commission (JFTC) concluded its investigation by approving a Commitment Plan submitted by IBJ; we believe this is a positive development, allowing the company to focus on core operations and increase market confidence.We believe a theme for FY12/24 will be upfront investments to drive longer-term growth, with integration efforts continuing with the O-net alliance, and initiatives to scale the Life Design business to transform into a material earnings pillar to drive long-term growth.

Ibj (6071) - Strategic Investments for Sustainable Long-Term Growth

<ul><li>Market leader positioning to consolidate – IBJ is a marriage consultancy service with strong brand equity, offering high-quality services delivered by human professionals.</li><li>With an industry-leading membership base, affiliated marriage consulting firms within the IBJ network harness the economies of scale through the platform, ensuring a cost-effective approach to service delivery.</li><li>It has a strong track record of sustainable free cash flow generation. </li></ul>

Market leader positioning to consolidate – IBJ is a marriage consultancy service with strong brand equity, offering high-quality services delivered by human professionals.With an industry-leading membership base, affiliated marriage consulting firms within the IBJ network harness the economies of scale through the platform, ensuring a cost-effective approach to service delivery.It has a strong track record of sustainable free cash flow generation. 

IBJ (6071) - Aiming to Solidify Its Dominant Market Position

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/benefit-one-inc" target="_blank" data-smartkarma-citation="entities:14502:1" rel="noopener">Benefit One Inc (2412 JP)</a> announced a partial tender offer from <a href="https://www.smartkarma.com/entities/m3-inc" target="_blank" data-smartkarma-citation="entities:13316:1" rel="noopener">M3 Inc (2413 JP)</a> at JPY1,600 per share, a 40.0% premium to the undisturbed price. </li>
<li>The transaction facilitates <a href="https://www.smartkarma.com/entities/pasona-group-inc" target="_blank" data-smartkarma-citation="entities:15778:1" rel="noopener">Pasona Group (2168 JP)</a>'s exit. The offer is for a minimum of 81.2 million shares (51.16% ownership ratio) and a maximum of 87.3 million shares (55.00%). </li>
<li>Irrevocables from Pasona represent a 51.16% ownership ratio, satisfying the minimum acceptance condition. The offer is light vs. historical multiples and share prices. </li>
</ul>



Benefit One Inc (2412 JP) announced a partial tender offer from M3 Inc (2413 JP) at JPY1,600 per share, a 40.0% premium to the undisturbed price. 
The transaction facilitates Pasona Group (2168 JP)'s exit. The offer is for a minimum of 81.2 million shares (51.16% ownership ratio) and a maximum of 87.3 million shares (55.00%). 
Irrevocables from Pasona represent a 51.16% ownership ratio, satisfying the minimum acceptance condition. The offer is light vs. historical multiples and share prices. 


Benefit One (2412 JP): M3’s Partial Tender Offer

Research from Mita Securities, Mita Securities

Mita Securities

Research from Mita Securities

Mita Securities provides a full scale diversified investment banking and financial services. A comprehensive investment banking department, specializes in rights offerings advisory, take-over bids agents, M&A etc. Including a proprietary trading desk, and wealth management department that offers brokerage, custody, real estate, and full proxy services.

<ul><li>On April 27, IBJ (6071, the company) announced that it would sell part of its stake in subsidiary Diverse and deconsolidate the subsidiary</li><li>We believe that the casual dating app market is highly competitive and hard to achieve profitability due to heavy burden of advertising costs</li><li>In light of the above transaction, the company announced changes to its 1H and full-year guidance for FY12/22</li></ul>

On April 27, IBJ (6071, the company) announced that it would sell part of its stake in subsidiary Diverse and deconsolidate the subsidiaryWe believe that the casual dating app market is highly competitive and hard to achieve profitability due to heavy burden of advertising costsIn light of the above transaction, the company announced changes to its 1H and full-year guidance for FY12/22

IBJ (6071): Fully Concentrating on Marriage Support, While Exiting from Casual Dating Apps

<ul><li>We update our earnings forecast and valuation model for IBJ (6071, the company) and adjust our target price to 1,300 yen</li><li>The number of marriages has continued to decline over the past two years due to the pandemic, and we believe that latent demand for marriage among singles has been increasing</li><li>Directly-owned stores and party business: As consumer activity recovers, the number of party participants, as well as the number of members and successful marriages at directly- owned stores, is expected to recover</li></ul>

We update our earnings forecast and valuation model for IBJ (6071, the company) and adjust our target price to 1,300 yenThe number of marriages has continued to decline over the past two years due to the pandemic, and we believe that latent demand for marriage among singles has been increasingDirectly-owned stores and party business: As consumer activity recovers, the number of party participants, as well as the number of members and successful marriages at directly- owned stores, is expected to recover

IBJ (6071): Expecting Reopening to Trigger Marriage Demand; Reiterate Buy

Japan

IBJ Inc provides marriage matchmaking services. The Company offers marriage consulting services through the Internet. IBJ also offers and consults business events and seminars.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

IBJ (6071 JP)

Ibj (6071) - Strategic Investments for Sustainable Long-Term Growth

Q1-4 FY12/23 results were in line with company guidance, highlighting the stable growth profile of the Affiliate business segment.

Astris Advisory Japan

IBJ (6071) - Aiming to Solidify Its Dominant Market Position

Market leader positioning to consolidate – IBJ is a marriage consultancy service with strong brand equity, offering high-quality services delivered...

Astris Advisory Japan

Benefit One (2412 JP): M3’s Partial Tender Offer

Irrevocables from Pasona represent a 51.16% ownership ratio, satisfying the minimum acceptance condition. The JPY1,600 partial offer is light vs....

Arun George

IBJ (6071): Fully Concentrating on Marriage Support, While Exiting from Casual Dating Apps

On April 27, IBJ (6071, the company) announced that it would sell part of its stake in subsidiary Diverse and deconsolidate the subsidiary

Mita Securities

IBJ (6071): Expecting Reopening to Trigger Marriage Demand; Reiterate Buy

We update our earnings forecast and valuation model for IBJ (6071, the company) and adjust our target price to 1,300 yen

Mita Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)