Japanese Turnaround Situations, Short-Ideas, Azabu Research

Michael Allen

Japanese Turnaround Situations, Short-Ideas

Azabu Research

Azabu Research is a publishing and consulting firm focused on distressed equities in the Japanese market. We specialize in turnaround strategies, corporate combinations, divestitures, and restructuring.

Publisher of the Tokyo Turnaround Letter, which conducts the most thorough research possible of publicly available information, including forensic tests for fraudulent overstatement of assets and understatement of liabilities, as well as rigorous market and industry analysis to assess the underlying strengths of the company’s products or services, the appropriateness of the company’s turnaround strategy, and the skill of its current management team. The average length of a report exceeds 25 pages of text and tables, excluding any disclosures or executive summaries.

We have more than 30 years of experience in applying this process to distressed equities in Japan. Additionally, subscribers have free access to detailed, yet easily navigated earnings models for the target company as well as the top five comparable companies, and unlimited access to the analyst for follow-up questions.

Azabu Research also conducts be-spoke research on a project basis, and provides consulting services to companies looking to restructure, divest, make acquisitions, go public, or improve investor sentiment toward their stock.

Independent Research and Consulting Firm

Equity Bottom-Up

<ul>
<li>Komeri plans to expand their addressable market by 75% and to double their current market share to 21%.</li>
<li>Same store sales of the company’s Pro Stores rose an average of more than 7% in the past 8 quarters, and selling area is expanding at more than 25% annually.</li>
<li>Yet Komeri trades at just 11x earnings, compared to about 16x for Topix and 18x for the median retail stock.</li>
</ul>


Komeri plans to expand their addressable market by 75% and to double their current market share to 21%.
Same store sales of the company’s Pro Stores rose an average of more than 7% in the past 8 quarters, and selling area is expanding at more than 25% annually.
Yet Komeri trades at just 11x earnings, compared to about 16x for Topix and 18x for the median retail stock.


Komeri (8218) Rare, Tariff-Proof Domestic Growth Idea at a Steep Discount

Japan

KOMERI CO., LTD. operates a home center chain based in Niigata Prefecture. The Company sells DIY (do-it-yourself) products, building materials, tools, hardware, household utensils, gardening materials, car care goods, and leisure goods.  Komeri also operates business in China.

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Komeri Co Ltd (8218 JP)

Komeri (8218) Rare, Tariff-Proof Domestic Growth Idea at a Steep Discount

Komeri is a rare, totally domestic operation with a huge runway for growth and trades at significant discount. The company aims to expand its...

Michael Allen

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Komeri (8218) Rare, Tariff-Proof Domestic Growth Idea at a Steep Discount

​Komeri is a rare, totally domestic operation with a huge runway for growth and trades at significant discount. The company aims to expand its...

Michael Allen

Komeri is a rare, totally domestic operation with a huge runway for growth and trades at significant discount. The company aims to expand its...