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>Orders were JPY15.4bn (-20.5% YoY), order backlog JPY18.4bn (-9.3% YoY), sales JPY17.2bn (+10.6% YoY).</li><li>FY06/27 forecasts: sales JPY17.7bn (+2.6% YoY), operating profit JPY2.2bn (+6.0% YoY), net income JPY1.5bn (+2.9% YoY).</li><li>Dividend for FY06/27 is JPY37 per share, with a forecasted payout ratio of 63.6%.</li></ul>

Orders were JPY15.4bn (-20.5% YoY), order backlog JPY18.4bn (-9.3% YoY), sales JPY17.2bn (+10.6% YoY).FY06/27 forecasts: sales JPY17.7bn (+2.6% YoY), operating profit JPY2.2bn (+6.0% YoY), net income JPY1.5bn (+2.9% YoY).Dividend for FY06/27 is JPY37 per share, with a forecasted payout ratio of 63.6%.

Intelligent Wave (4847 JP): Full-year FY06/26 flash update

<ul><li>Orders were JPY11.0bn (-32.0% YoY), order backlog was JPY18.8bn (-11.3% YoY), and sales were JPY12.5bn (+8.4% YoY).</li><li>Revised FY06/26 forecasts: revenue JPY17.2bn, operating profit JPY2.0bn, recurring profit JPY2.1bn, net income JPY1.4bn.</li><li>Operating profit decreased 5.8% YoY, GPM decreased 2.7pp to 27.9%, and OPM declined 1.6pp to 10.9%.</li></ul>

Orders were JPY11.0bn (-32.0% YoY), order backlog was JPY18.8bn (-11.3% YoY), and sales were JPY12.5bn (+8.4% YoY).Revised FY06/26 forecasts: revenue JPY17.2bn, operating profit JPY2.0bn, recurring profit JPY2.1bn, net income JPY1.4bn.Operating profit decreased 5.8% YoY, GPM decreased 2.7pp to 27.9%, and OPM declined 1.6pp to 10.9%.

Intelligent Wave (4847 JP): Q3 FY06/26 flash update

<ul><li>Orders decreased to JPY7.1bn (-44.6% YoY), order backlog declined to JPY19.0bn (-12.7% YoY) due to prior large-scale projects.</li><li>Sales increased by 10.8% YoY, with payment domain sales up 13.0% and security domain sales rising 7.5%.</li><li>Operating profit rose 2.1% YoY; GPM decreased 1.9pp to 27.7%, OPM declined 0.9pp to 10.5%.</li></ul>

Orders decreased to JPY7.1bn (-44.6% YoY), order backlog declined to JPY19.0bn (-12.7% YoY) due to prior large-scale projects.Sales increased by 10.8% YoY, with payment domain sales up 13.0% and security domain sales rising 7.5%.Operating profit rose 2.1% YoY; GPM decreased 1.9pp to 27.7%, OPM declined 0.9pp to 10.5%.

Intelligent Wave (4847 JP): 1H FY06/26 flash update

<ul><li>Orders were JPY3.7bn (-34.3% YoY), order backlog JPY20.2bn (+8.6% YoY), sales JPY3.7bn (+5.7% YoY).</li><li>Operating profit was JPY206mn (-32.4% YoY), recurring profit JPY205mn (-32.7% YoY), net income JPY140mn (-32.9% YoY).</li><li>Sales increased 4.7% YoY in settlement domain, 22.8% in security domain, declined 13.2% in data communication.</li></ul>

Orders were JPY3.7bn (-34.3% YoY), order backlog JPY20.2bn (+8.6% YoY), sales JPY3.7bn (+5.7% YoY).Operating profit was JPY206mn (-32.4% YoY), recurring profit JPY205mn (-32.7% YoY), net income JPY140mn (-32.9% YoY).Sales increased 4.7% YoY in settlement domain, 22.8% in security domain, declined 13.2% in data communication.

Intelligent Wave (4847 JP): Q1 FY06/26 flash update

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 14th. The aggregated net margin trading position is USD27,503m.</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 Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen, Mitsubishi Heavy Industries, Taiyo Yuden, Fast Retailing, Rakuten.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 14th. The aggregated net margin trading position is USD27,503m.
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 Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen, Mitsubishi Heavy Industries, Taiyo Yuden, Fast Retailing, Rakuten.


JPX Margin Trading Weekly (Aug 14th): Kioxia, Advantest, IHI, Tokio Marine, Nintendo, Screen

Japan

INTELLIGENT WAVE INC. develops computer software and provides consulting services for networking.  The Company also imports, exports, and sells computer equipment.  Intelligent Wave provides the online network of credit and debit cards, the network system of security trading, and the total system of consumer finance.

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Intelligent Wave (4847 JP)