Nippon Investment Bespoke Research UK Ltd

Nippon Investment Bespoke Research UK

Equity Bottom-Up

<ul><li>Nippo produced record earnings in FY24, with OP of ¥1,970mil (+2.7% YoY) on sales of ¥44,890mil (+7.1% YoY).</li><li>Thanks primarily to solid growth in order for print circuit boards [PCBs] used in generative AI servers and wafer polishing jigs manufactured in Nippo’s Okinawa factory, sales landed above the firm’s guidance of ¥42,000mil.</li><li>FY25 is the final year of Nippo’s medium-term plan [MTP] which calls for an OP target of ¥2,000mil.</li></ul>

Nippo produced record earnings in FY24, with OP of ¥1,970mil (+2.7% YoY) on sales of ¥44,890mil (+7.1% YoY).Thanks primarily to solid growth in order for print circuit boards [PCBs] used in generative AI servers and wafer polishing jigs manufactured in Nippo’s Okinawa factory, sales landed above the firm’s guidance of ¥42,000mil.FY25 is the final year of Nippo’s medium-term plan [MTP] which calls for an OP target of ¥2,000mil.

Nippo Ltd. (9913 JP): Research Update <Revised>

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jul 18th. The aggregated net margin trading position is USD17,250m.</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 Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing, Softbank, Seven &amp; I, Mitsubishi Ufj Financial, Mitsubishi Heavy Industries.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 18th. The aggregated net margin trading position is USD17,250m.
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 Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing, Softbank, Seven &amp; I, Mitsubishi Ufj Financial, Mitsubishi Heavy Industries.


JPX Margin Trading Weekly (Jul 18th): Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing

<ul>
<li>FY24 1H results and update on the ongoing long-term plan</li>
</ul>


FY24 1H results and update on the ongoing long-term plan


<ul>
<li>FY24上期決算と長期計画のアップデート</li>
</ul>


FY24上期決算と長期計画のアップデート


日邦産業株式会社 (9913 JP) : リサーチアップデート日本語サマリー

Japan

NIPPO LTD. sells electronic parts and materials.  The Company's products include multi-layer printing circuit boards (PCB), hybrid integrated circuits (IC), ceramic products, carbon products, magnet related products, plastic products, supersonic washing equipment, and control equipment.

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Nippo Ltd (9913 JP)

Nippo Ltd. (9913 JP): Research Update <Revised>

Nippo produced record earnings in FY24, with OP of ¥1,970mil (+2.7% YoY) on sales of ¥44,890mil (+7.1% YoY). Thanks primarily to solid growth in...

Nippon Investment Bespoke Research UK

Nippo Ltd. (9913 JP): Research Update

Nippo produced record earnings in FY24, with OP of ¥1,970mil (+2.7% YoY) on sales of ¥44,890mil (+7.1% YoY). Thanks primarily to solid growth in...

Nippon Investment Bespoke Research UK

JPX Margin Trading Weekly (Jul 18th): Lasertec, Fujikura, Advantest, Sanrio, Ihi, Fast Retailing

We analyzed JPX margin trading positions report for the past week and highlighted Lasertec (6920 JP), Fujikura (5803 JP), Advantest (6857 JP),...

Ke Yan, CFA, FRM

Nippo Ltd. (9913 JP) : Research Update

FY24 1H results and update on the ongoing long-term plan

Nippon Investment Bespoke Research UK

日邦産業株式会社 (9913 JP) : リサーチアップデート日本語サマリー

FY24上期決算と長期計画のアップデート

Nippon Investment Bespoke Research UK

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)