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

Paramount Bed Holdings Co Lt / Equity Bottom-Up

<ul><li>FY03/25 saw revenue increase by 2.4% YoY to JPY108.6bn, while operating profit decreased by 6.1% YoY to JPY13.0bn.</li><li>The company forecasts FY03/26 revenue at JPY113.0bn (+4.1% YoY) and operating profit at JPY13.8bn (+6.3% YoY).</li><li>The FY03/27 target includes JPY120.0bn revenue and JPY15.0bn operating profit, with a revised dividend policy of DOE 5.0%.</li></ul>

FY03/25 saw revenue increase by 2.4% YoY to JPY108.6bn, while operating profit decreased by 6.1% YoY to JPY13.0bn.The company forecasts FY03/26 revenue at JPY113.0bn (+4.1% YoY) and operating profit at JPY13.8bn (+6.3% YoY).The FY03/27 target includes JPY120.0bn revenue and JPY15.0bn operating profit, with a revised dividend policy of DOE 5.0%.

Paramount Bed Holdings Co Lt (7817 JP): Full-year FY03/25 flash update

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>During 9MFY25, <a href="https://www.smartkarma.com/entities/paramount-bed-holdings-co-lt" target="_blank" data-smartkarma-citation="entities:17808:1" rel="noopener">Paramount Bed Holdings Co Lt (7817 JP)</a> reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.</li>
<li>Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.</li>
<li>Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.</li>
</ul>


During 9MFY25, Paramount Bed Holdings Co Lt (7817 JP) reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.
Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.
Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.


Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

<ul><li>Cumulative Q3 revenue increased by 2.8% YoY to JPY75.1bn, while operating profit decreased by 15.2% YoY.</li><li>Domestic revenue rose 3.0% YoY, driven by a 7.9% YoY increase in the nursing care business.</li><li>SG&A expenses rose 9.2% YoY, impacting profit margins; net income attributable to owners declined by 10.7% YoY.</li></ul>

Cumulative Q3 revenue increased by 2.8% YoY to JPY75.1bn, while operating profit decreased by 15.2% YoY.Domestic revenue rose 3.0% YoY, driven by a 7.9% YoY increase in the nursing care business.SG&A expenses rose 9.2% YoY, impacting profit margins; net income attributable to owners declined by 10.7% YoY.

Paramount Bed Holdings Co Lt (7817 JP): Q3 FY03/25 flash update

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For November 2025, eight new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$10bn.</li>
<li>The average premium for the new transactions announced (or first discussed) in November was ~31%, with a year-to-date average of ~48%.</li>
<li>The average premiums for transactions in 2024 (129 transactions), 2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For November 2025, eight new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$10bn.
The average premium for the new transactions announced (or first discussed) in November was ~31%, with a year-to-date average of ~48%.
The average premiums for transactions in 2024 (129 transactions), 2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.


(Mostly) Asia M&A, Nov 2025 Wrap: Qube, Forum Engineering, National Storage REIT, Star Micronics

<ul>
<li>Given the size of Mandi - relative to <a href="https://www.smartkarma.com/entities/3sbio-inc" target="_blank" data-smartkarma-citation="entities:459:1" rel="noopener">3SBio Inc (1530 HK)</a> - higher market multiples for its in-specie spin-off may have a limited impact on the overall valuation.</li>
<li>
<a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a>  raised around US$5.2bn in its H-share listing in May 2025. The last day for their lockup was the 19th November 2025.</li>
<li>While <a href="https://www.smartkarma.com/entities/grindr-inc" target="_blank" data-smartkarma-citation="entities:37106:1" rel="noopener">Grindr (GRND US)</a> Special Committee considers the MBO proposal, chairman James Lu has unusually opted to step down. And sell shares below the NBIO price. </li>
</ul>


Given the size of Mandi - relative to 3SBio Inc (1530 HK) - higher market multiples for its in-specie spin-off may have a limited impact on the overall valuation.

CATL (3750 HK)  raised around US$5.2bn in its H-share listing in May 2025. The last day for their lockup was the 19th November 2025.
While Grindr (GRND US) Special Committee considers the MBO proposal, chairman James Lu has unusually opted to step down. And sell shares below the NBIO price. 


Last Week In Event SPACE: 3SBio/Mandi, CATL, Grindr, Mandarin Oriental

Japan

Paramount Bed Holdings Company Ltd. operates as a holding company. The Company, through its subsidiaries, designs and manufactures hospital, medical, electric, motorized, and orthopedic beds.

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Paramount Bed Holdings Co Lt (7817 JP)