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>Revenue for FY09/25 reached JPY5.5bn, with a YoY growth of 9.9%, and net income increased by 20.8% YoY. </li><li>For FY09/26, the company forecasts revenue of JPY6.4bn, with a 15.4% YoY growth, and plans a JPY9.0 dividend. </li><li>By FY09/35, the company targets revenue of JPY20.0–30.0bn and operating profit of JPY8.0–12.0bn. </li></ul>

Revenue for FY09/25 reached JPY5.5bn, with a YoY growth of 9.9%, and net income increased by 20.8% YoY. For FY09/26, the company forecasts revenue of JPY6.4bn, with a 15.4% YoY growth, and plans a JPY9.0 dividend. By FY09/35, the company targets revenue of JPY20.0–30.0bn and operating profit of JPY8.0–12.0bn. 

Kanamic Network (3939 JP): Full-year FY09/25 flash update

<ul><li>Revenue increased by 10.0% YoY to JPY4.0bn, with operating profit up 13.9% YoY to JPY1.2bn.</li><li>Healthcare and Long-term Care Cloud Platform revenue rose 11.0% YoY, while Healthy Longevity business revenue dipped 3.5% YoY.</li><li>Solutions Development business revenue climbed 32.9% YoY, driven by web service development and backend system consulting services.</li></ul>

Revenue increased by 10.0% YoY to JPY4.0bn, with operating profit up 13.9% YoY to JPY1.2bn.Healthcare and Long-term Care Cloud Platform revenue rose 11.0% YoY, while Healthy Longevity business revenue dipped 3.5% YoY.Solutions Development business revenue climbed 32.9% YoY, driven by web service development and backend system consulting services.

Kanamic Network (3939 JP): Q3 FY09/25 flash update

<ul><li>Revenue increased by 8.8% YoY to JPY2.7bn, with significant growth in Healthcare and Long-term Care Cloud Platform business.</li><li>Operating profit rose 14.3% YoY to JPY765mn, driven by higher revenue and improved SG&A-to-revenue ratio.</li><li>Healthy Longevity business revenue dropped 18.4% YoY, while Solutions Development business revenue surged 59.1% YoY.</li></ul>

Revenue increased by 8.8% YoY to JPY2.7bn, with significant growth in Healthcare and Long-term Care Cloud Platform business.Operating profit rose 14.3% YoY to JPY765mn, driven by higher revenue and improved SG&A-to-revenue ratio.Healthy Longevity business revenue dropped 18.4% YoY, while Solutions Development business revenue surged 59.1% YoY.

Kanamic Network (3939 JP): 1H FY09/25 flash update

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

The Tokyo Stock Exchange (TSE) calculates Free-Float Weight (FFW) for each listed company and uses this value as a key component of TOPIX Index Calculation. For companies with "low liquidity" the FFW will be multiplied by a fixed liquidity factor of 0.75 to derive the final FFW used for index calculation. This affects both TSE-1 incumbents and new entrants (depending on the date of entry). Every April, the application of this liquidity factor is reviewed by the TSE for all TSE1 constituents. Last April, 71 constituents saw their liquidity factors removed causing an increase in their respective FFWs used for index calculation resulting in a TOPIX upweight.This situation opens up interesting opportunities for a basket trade. Below is a discussion regarding the key details of TSE's FFW Calculation Methodology and the candidate stocks which could potentially experience a change in the application of the liquidity factor (including some surprisingly big names).

The Tokyo Stock Exchange (TSE) calculates Free-Float Weight (FFW) for each listed company and uses this value as a key component of TOPIX Index Calculation. For companies with "low liquidity" the FFW will be multiplied by a fixed liquidity factor of 0.75 to derive the final FFW used for index calculation. This affects both TSE-1 incumbents and new entrants (depending on the date of entry). Every April, the application of this liquidity factor is reviewed by the TSE for all TSE1 constituents. Last April, 71 constituents saw their liquidity factors removed causing an increase in their respective FFWs used for index calculation resulting in a TOPIX upweight.This situation opens up interesting opportunities for a basket trade. Below is a discussion regarding the key details of TSE's FFW Calculation Methodology and the candidate stocks which could potentially experience a change in the application of the liquidity factor (including some surprisingly big names).   

TOPIX Index Upweights: The Big April Basket 2021

<ul><li>Revenue increased by 33.7% YoY to JPY5.0bn, with significant growth in the Healthy Longevity business segment. </li><li>Operating profit margin declined by 0.5pp to 28.7% due to increased costs from new gym openings and consolidation. </li><li>FY09/25 forecasts revenue of JPY5.6bn (+11.8% YoY) and plans a year-end dividend of JPY7.5 per share. </li></ul>

Revenue increased by 33.7% YoY to JPY5.0bn, with significant growth in the Healthy Longevity business segment. Operating profit margin declined by 0.5pp to 28.7% due to increased costs from new gym openings and consolidation. FY09/25 forecasts revenue of JPY5.6bn (+11.8% YoY) and plans a year-end dividend of JPY7.5 per share. 

Kanamic Network (3939 JP): Full-year FY09/24 flash update

Japan

Kanamic Network Co., Ltd provides platforms and management systems for the health care industry. The Company also offers web design, website operation and Internet advertising services for the health care sector.

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Kanamic Network (3939 JP)