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>Revenue: JPY23.1bn (-4.8% YoY), Operating profit: JPY1.6bn (-51.1% YoY), Recurring profit: JPY2.1bn (-48.9% YoY).</li><li>Domestic revenue: JPY20.9bn (-4.0% YoY), Overseas revenue: JPY2.2bn (-11.9% YoY), Medical care business revenue: JPY7.9bn (-13.6% YoY).</li><li>Nursing care business revenue: JPY14.3bn (+2.5% YoY), Health promotion business revenue: JPY2.2bn (-12.2% YoY).</li></ul>

Revenue: JPY23.1bn (-4.8% YoY), Operating profit: JPY1.6bn (-51.1% YoY), Recurring profit: JPY2.1bn (-48.9% YoY).Domestic revenue: JPY20.9bn (-4.0% YoY), Overseas revenue: JPY2.2bn (-11.9% YoY), Medical care business revenue: JPY7.9bn (-13.6% YoY).Nursing care business revenue: JPY14.3bn (+2.5% YoY), Health promotion business revenue: JPY2.2bn (-12.2% YoY).

Paramount Bed Holdings Co Lt (7817 JP): Q1 FY03/25 flash update

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In Q1FY24, <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 7% YoY revenue growth to ¥24B, due to solid performance in the medical care and the nursing care businesses.</li>
<li>Due to higher SG&amp;A expenses, operating profit grew just 2% YoY to ¥3.3B. Net profit rose 7% YoY to ¥2.9B, mainly due to 13% YoY increase in foreign exchange gains.</li>
<li>Paramount has reiterated FY24 guidance, which calls for 6% YoY revenue growth, 4% YoY operating profit growth, and 6% YoY growth in net profit.</li>
</ul>


In Q1FY24, Paramount Bed Holdings Co Lt (7817 JP) reported 7% YoY revenue growth to ¥24B, due to solid performance in the medical care and the nursing care businesses.
Due to higher SG&amp;A expenses, operating profit grew just 2% YoY to ¥3.3B. Net profit rose 7% YoY to ¥2.9B, mainly due to 13% YoY increase in foreign exchange gains.
Paramount has reiterated FY24 guidance, which calls for 6% YoY revenue growth, 4% YoY operating profit growth, and 6% YoY growth in net profit.


Paramount Bed Holdings (7817 JP): In-Line Q1 Result; FY24 Guidance Reaffirmed

<ul>
<li>
<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 all-time high revenue and profit in FY23, driven by increased demand and price revision effect. The company has announced dividend of ¥59/share.</li>
<li>For FY24, Paramount expects revenue growth of 6% to ¥105B, driven by expanding recurring revenue. Operating and net profits are expected to increase 4% and 6%, YoY, respectively, in FY24.</li>
<li>Through business expansion and new product launches, the company is on track to achieve mid-term target of revenue of ¥120B and operating income of ¥17B in FY27.</li>
</ul>



Paramount Bed Holdings Co Lt (7817 JP) reported all-time high revenue and profit in FY23, driven by increased demand and price revision effect. The company has announced dividend of ¥59/share.
For FY24, Paramount expects revenue growth of 6% to ¥105B, driven by expanding recurring revenue. Operating and net profits are expected to increase 4% and 6%, YoY, respectively, in FY24.
Through business expansion and new product launches, the company is on track to achieve mid-term target of revenue of ¥120B and operating income of ¥17B in FY27.


Paramount Bed (7817 JP): All-Time Revenue and Profit in FY23; Further Upside Potential Remains

Thematic (Sector/Industry)

<ul>
<li>In 2022, JPY depreciated against USD to the lowest level in more than 30 years. This benefitted healthcare companies in Japan, which earn significant portion of revenues from the U.S.</li>
<li>This year, Yen has started reversing its course and began to strengthen. With benefit of favorable Forex gradually fading, investors need to be selective in picking healthcare bets in Japan.</li>
<li>We have discussed about five top picks from Japan healthcare sector. Domestic focused business, favorable industry tailwinds, and COVID recovery are the main investment thesis for the top picks.</li>
</ul>


In 2022, JPY depreciated against USD to the lowest level in more than 30 years. This benefitted healthcare companies in Japan, which earn significant portion of revenues from the U.S.
This year, Yen has started reversing its course and began to strengthen. With benefit of favorable Forex gradually fading, investors need to be selective in picking healthcare bets in Japan.
We have discussed about five top picks from Japan healthcare sector. Domestic focused business, favorable industry tailwinds, and COVID recovery are the main investment thesis for the top picks.


Japan Healthcare: Currency Benefit Seems to Be Fading; Focus Will Be on Underlying Business Strength

<ul>
<li>As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.</li>
<li>Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.</li>
<li>For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.</li>
</ul>


As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.
Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.
For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.


2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

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)