Solid 1Q Results for Meiji Support the Long-Term Margin Expansion Story; Shares Undervalued
Narrow-moat Meiji Holdings Co Ltd (2269 JP) posted a solid set of first-quarter results, which support our long-term view that margin expansion...
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Probiotic Yogurt Growth Taking a Breather; a New Midterm Profit Guidance Target of JPY 120 Billion
We walked away from Meiji’s analyst briefing with a positive impression. Meiji’s management is confident growth of probiotic yogurt and China sales...
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Launching Coverage of Meiji With Narrow Moat and Stable Moat Trend Ratings, FVE of JPY 10,600
We initiate coverage of Meiji Holdings with a fair value estimate of JPY 10,600, and assign it narrow moat and stable moat trend ratings. Our fair...
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Morinaga Merger Plans On Ice For Now
A bit over a month ago on 24 February, the Nikkei carried an article which described the plans Morinaga & Co Ltd (2201 JP) and Morinaga Milk...
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Morinaga Merger Musings
Early in the morning Friday February 24th, the Nikkei published an article suggesting that Japan's fourth largest confectioner by sales, Morinaga...
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