IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/naigai-trans-line-ltd" target="_blank" data-smartkarma-citation="entities:8938:1" rel="noopener">Naigai Trans Line (9384 JP)</a> has recommended a tender offer from IA Partners at JPY4,065 per share, a 62.3% premium to the last close.</li>
<li>Despite being below the midpoint of the target IFA’s DCF valuation range, the offer is attractive compared to historical trading ranges and represents an all-time high. </li>
<li>Given that the offer is reasonable, the required minority acceptance rate is attainable. The offer is from 10 March to 21 April, with payment on 28 April. </li>
</ul>



Naigai Trans Line (9384 JP) has recommended a tender offer from IA Partners at JPY4,065 per share, a 62.3% premium to the last close.
Despite being below the midpoint of the target IFA’s DCF valuation range, the offer is attractive compared to historical trading ranges and represents an all-time high. 
Given that the offer is reasonable, the required minority acceptance rate is attainable. The offer is from 10 March to 21 April, with payment on 28 April. 


Naigai Trans Line (9384 JP): IA Partners’ JPY4,065 Tender Offer

Research Coverage of Japanese Listed Companies, Shared Research Inc

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Research Coverage of Japanese Listed Companies

Shared Research Inc

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Equity Bottom-Up

<ul><li>Sales increased by JPY3.4bn (+13.9% YoY) due to strong overseas subsidiary performance and yen depreciation impact.</li><li>Operating profit decreased by JPY291mn (-8.9% YoY) due to increased SG&A expenses and a decline in high GPM export LCL cargo.</li><li>Overseas subsidiaries saw a 31.2% YoY sales increase, driven by strong warehouse operations in India and South Korea.</li></ul>

Sales increased by JPY3.4bn (+13.9% YoY) due to strong overseas subsidiary performance and yen depreciation impact.Operating profit decreased by JPY291mn (-8.9% YoY) due to increased SG&A expenses and a decline in high GPM export LCL cargo.Overseas subsidiaries saw a 31.2% YoY sales increase, driven by strong warehouse operations in India and South Korea.

Naigai Trans Line (9384 JP): Q3 FY12/24 flash update

<ul><li>Sales rose to JPY17.2bn (+6.1% YoY), driven by strong overseas subsidiaries and a weaker yen.</li><li>Operating profit decreased to JPY1.9bn (-15.3% YoY) due to increased SG&A expenses and reduced high GPM LCL export cargo.</li><li>Overseas segment sales grew to JPY6.0bn (+30.2% YoY), with solid warehouse operations in India and South Korea.</li></ul>

Sales rose to JPY17.2bn (+6.1% YoY), driven by strong overseas subsidiaries and a weaker yen.Operating profit decreased to JPY1.9bn (-15.3% YoY) due to increased SG&A expenses and reduced high GPM LCL export cargo.Overseas segment sales grew to JPY6.0bn (+30.2% YoY), with solid warehouse operations in India and South Korea.

Naigai Trans Line (9384 JP): 1H FY12/24 flash update

Japan

NAIGAI TRANS LINE LTD is a marine transportation company. The Company mainly offers international and domestic container marine transportation services. NAIGAI TRANS LINE LTD also operates warehousing and cargo handling services.

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Naigai Trans Line (9384 JP)