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>Organo reported FY03/26 orders of JPY168.0bn, revenue of JPY177.7bn, and net income of JPY28.4bn.</li><li>For FY03/27, Organo forecasts orders of JPY230.0bn, revenue of JPY200.0bn, and net income of JPY30.0bn.</li><li>Organo's medium-term plan targets FY03/31 revenue of JPY260.0bn and an OPM of 18–20%.</li></ul>

Organo reported FY03/26 orders of JPY168.0bn, revenue of JPY177.7bn, and net income of JPY28.4bn.For FY03/27, Organo forecasts orders of JPY230.0bn, revenue of JPY200.0bn, and net income of JPY30.0bn.Organo's medium-term plan targets FY03/31 revenue of JPY260.0bn and an OPM of 18–20%.

Organo Corp (6368 JP): Full-year FY03/26 flash update

<ul><li>Organo's cumulative Q3 FY03/26 orders received were JPY129.4bn (+9.7% YoY), with revenue at JPY127.7bn (+10.4% YoY).</li><li>Water Treatment Engineering segment saw orders of JPY109.6bn (+10.8% YoY), driven by semiconductor projects in Taiwan, US, and Europe.</li><li>Operating profit in Water Treatment Engineering grew 37.6% YoY to JPY23.4bn, aided by high-margin service solutions projects.</li></ul>

Organo's cumulative Q3 FY03/26 orders received were JPY129.4bn (+9.7% YoY), with revenue at JPY127.7bn (+10.4% YoY).Water Treatment Engineering segment saw orders of JPY109.6bn (+10.8% YoY), driven by semiconductor projects in Taiwan, US, and Europe.Operating profit in Water Treatment Engineering grew 37.6% YoY to JPY23.4bn, aided by high-margin service solutions projects.

Organo Corp (6368 JP): Q3 FY03/26 flash update

<ul><li>Organo's Q1 FY03/26 results: Orders JPY59.6bn (+13.0% YoY), revenue JPY38.1bn (+20.5% YoY), operating profit JPY7.0bn (+73.8% YoY). </li><li>Revised full-year FY03/26 forecast: Orders JPY180.0bn (+19.0% YoY), revenue JPY175.0bn (+7.2% YoY), operating profit JPY34.0bn (+9.3% YoY). </li><li>Electronics industry growth: Semiconductor projects in Taiwan, Japan, US, and increased sales of water treatment chemicals. </li></ul>

Organo's Q1 FY03/26 results: Orders JPY59.6bn (+13.0% YoY), revenue JPY38.1bn (+20.5% YoY), operating profit JPY7.0bn (+73.8% YoY). Revised full-year FY03/26 forecast: Orders JPY180.0bn (+19.0% YoY), revenue JPY175.0bn (+7.2% YoY), operating profit JPY34.0bn (+9.3% YoY). Electronics industry growth: Semiconductor projects in Taiwan, Japan, US, and increased sales of water treatment chemicals. 

Organo Corp (6368 JP): Q1 FY03/26 flash update

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Gan & Lee Pharmaceuticals / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment</li>
<li>Short-Term supports to watch on ACWI-US continue to be $132 (testing now), $130, $128, $125-$126, and $123-$123.50. All signs point to the ACWI-US uptrend continuing for the foreseeable future.</li>
<li>Upgrading China to Overweight; Europe Breaking Out; Japan Also Remains Attractive. Buys in Consumer Discretionary (primarily autos/parts), Industrials, Services, Health Care, Materials, Financials, and Real Estate</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment
Short-Term supports to watch on ACWI-US continue to be $132 (testing now), $130, $128, $125-$126, and $123-$123.50. All signs point to the ACWI-US uptrend continuing for the foreseeable future.
Upgrading China to Overweight; Europe Breaking Out; Japan Also Remains Attractive. Buys in Consumer Discretionary (primarily autos/parts), Industrials, Services, Health Care, Materials, Financials, and Real Estate


Upgrading China to Overweight; Europe Breaking Out

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

• RESULTS - 29th MARCH •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/979/original/image_20691903021617048798901.png?1617048799" class="editor-image img-responsive" data-smartkarma-image-id="197979"></figure>RESULTS -  Of Monday's three results, <a href="https://www.smartkarma.com/entities/arcland-sakamoto-co-ltd" target="_blank" data-smartkarma-citation="entities:10395:1" rel="noopener">Arcland Sakamoto (9842 JP)</a> stands out but is driven by the LIXIL VIVA acquisition. The FY22 forecasts are conservative and leave ample room for an upward revision. Arcland is our preferred Home Centre holding and is back into an attractive buying zone following last year's COVID-driven spike into OverBought territory.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/985/original/image_58825059031617049684417.png?1617049685" class="editor-image img-responsive" data-smartkarma-image-id="197985"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/986/original/image_44235549241617050056401.png?1617050057" class="editor-image img-responsive" data-smartkarma-image-id="197986"></figure>• FORECASTS/REVISIONS - 29th MARCH •<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/987/original/image_83881428151617050520638.png?1617050521" class="editor-image img-responsive" data-smartkarma-image-id="197987"></figure>FORECASTS/REVISIONS - Of the 14 annual forecasts and revisions, 57% scored positively. The DETAIL Section below focuses on <a href="https://www.smartkarma.com/entities/organo-corp" target="_blank" data-smartkarma-citation="entities:1972:1" rel="noopener">Organo (6368 JP)</a> and <a href="https://www.smartkarma.com/entities/keihan-electric-railway-co" target="_blank" data-smartkarma-citation="entities:6120:1" rel="noopener">Keihan Electric Railway (9045 JP)</a>. <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/988/original/image_80065899161617052150856.png?1617052151" class="editor-image img-responsive" data-smartkarma-image-id="197988"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/197/989/original/image_62815698771617052194528.png?1617052195" class="editor-image img-responsive" data-smartkarma-image-id="197989"></figure>

• RESULTS - 29th MARCH •RESULTS -  Of Monday's three results, Arcland Sakamoto (9842 JP) stands out but is driven by the LIXIL VIVA acquisition. The FY22 forecasts are conservative and leave ample room for an upward revision. Arcland is our preferred Home Centre holding and is back into an attractive buying zone following last year's COVID-driven spike into OverBought territory.• FORECASTS/REVISIONS - 29th MARCH •FORECASTS/REVISIONS - Of the 14 annual forecasts and revisions, 57% scored positively. The DETAIL Section below focuses on Organo (6368 JP) and Keihan Electric Railway (9045 JP). 

🇯🇵 JAPAN • Results & Revisions 03/​​​​​​​​29 - Arcland, Organo & Keihan

Japan

ORGANO CORPORATION manufactures water treatment equipment and other related peripherals and supplies.  The Company also produces industrial chemical products such as activated carbon and charcoal, water treatment compounds, and ion exchange resins.  Organo's water treatment systems are used for ultra-pure water production in nuclear power and semiconductor manufacturing processes.

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Organo Corp (6368 JP)