Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

We isolated the Japanese brokers to see if there was a significant difference between the Japanese broker outlook and Foreign outlook. We compared the average Target Price given by each group for companies with 2 or more Analysts with coverage.<h2>Japanese Bullish Side....</h2>We then screened for names with greater than 20% (absolute) difference in upside from the current target price. <a href="https://www.smartkarma.com/entities/21001" target="_blank" data-smartkarma-citation="entities:21001:1">Eisai Co Ltd (4523 JP)</a> tops the list with a 44% difference in upside from the current price. Japanese brokers are…

We isolated the Japanese brokers to see if there was a significant difference between the Japanese broker outlook and Foreign outlook. We compared the average Target Price given by each group for companies with 2 or more Analysts with coverage.Japanese Bullish Side....We then screened for names with greater than 20% (absolute) difference in upside from the current target price. Eisai Co Ltd (4523 JP) tops the list with a 44% difference in upside from the current price. Japanese brokers are…

Which Names Are the Japanese Brokers More Bullish / Bearish On....

Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

1Q sales rose 8% to Y71.1bn whilst operating profits remained flat at Y1.2bn. This compares with the first half sales and operating profit forecast of Y127.2bn (+2%) and Y2.1bn (-3%). The full year forecast remains unchanged at Y259.5bn (+3%) and Y5.5bn (+20%). Overall management say 1Q results were a bit better than expectations. The market, however, was clearly hoping for more. The shares fell 13% yesterday and are struggling today. We would, however, buy into this weakness. The main points…

1Q sales rose 8% to Y71.1bn whilst operating profits remained flat at Y1.2bn. This compares with the first half sales and operating profit forecast of Y127.2bn (+2%) and Y2.1bn (-3%). The full year forecast remains unchanged at Y259.5bn (+3%) and Y5.5bn (+20%). Overall management say 1Q results were a bit better than expectations. The market, however, was clearly hoping for more. The shares fell 13% yesterday and are struggling today. We would, however, buy into this weakness. The main points…

IDOM (7599) Shares Oversold on 1Q Results - BUY Here

After two downward revisions last year, the company is determined to avoid a repeat. This year’s operating forecast of Y5.5bn is very conservative. They assume flat new car sales, conservative in light of the MMC scandal and 10% fall last year. They assume still high advertising and promotional costs but they will fall if new car sales are up. Also retail sales (as opposed to auction sales) will be up, costs of promoting its two new businesses will fall by Y1bn and losses in Australia should be…

After two downward revisions last year, the company is determined to avoid a repeat. This year’s operating forecast of Y5.5bn is very conservative. They assume flat new car sales, conservative in light of the MMC scandal and 10% fall last year. They assume still high advertising and promotional costs but they will fall if new car sales are up. Also retail sales (as opposed to auction sales) will be up, costs of promoting its two new businesses will fall by Y1bn and losses in Australia should be…

Conservative Forecasts, Sell off Overdone, Now Is the Time to Buy

Whilst a longer term investment here must be questioned, for now we would buy the shares. They are very depressed given a poor new car market and the company’s recent downward revision for this year. A modest recovery in the new car market, forecast by many analysts, would result in a decent bounce in profits putting the shares on close to 10x (assuming a net of Y5bn for next year). This would result in a re-rating of the shares in our view and for this reason alone, we would buy the shares now.…

Whilst a longer term investment here must be questioned, for now we would buy the shares. They are very depressed given a poor new car market and the company’s recent downward revision for this year. A modest recovery in the new car market, forecast by many analysts, would result in a decent bounce in profits putting the shares on close to 10x (assuming a net of Y5bn for next year). This would result in a re-rating of the shares in our view and for this reason alone, we would buy the shares now.…

Technically Very Oversold and 2/18 Profits to Bounce.

Japan

GULLIVER INTERNATIONAL CO., LTD. operates a chain of stores which specialize in purchasing used cars.  The Company also operates a retail store chain known as Dolphie Net, via satellite.  Gulliver operates its own stores and also franchise stores nationwide.

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IDOM Inc (7599 JP)

Which Names Are the Japanese Brokers More Bullish / Bearish On....

We isolated the Japanese brokers to see if there was a significant difference between the Japanese broker outlook and Foreign outlook. We compared...

Custom Products Group

IDOM (7599) Shares Oversold on 1Q Results - BUY Here

1Q sales rose 8% to Y71.1bn whilst operating profits remained flat at Y1.2bn. This compares with the first half sales and operating profit forecast...

Pearl Hill Advisors

Conservative Forecasts, Sell off Overdone, Now Is the Time to Buy

After two downward revisions last year, the company is determined to avoid a repeat. This year’s operating forecast of Y5.5bn is very conservative....

Pearl Hill Advisors

Technically Very Oversold and 2/18 Profits to Bounce.

Whilst a longer term investment here must be questioned, for now we would buy the shares. They are very depressed given a poor new car market and...

Pearl Hill Advisors

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