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>Revenue increased by 9.5% YoY to JPY8.6bn, with operating profit rising 123.5% YoY to JPY988mn.</li><li>Family Care Services revenue grew due to babysitter service demand and elderly care service earnings increase.</li><li>Edu-care business revenue rose 6.1% YoY, driven by subsidy income growth and new facility openings.</li></ul>

Revenue increased by 9.5% YoY to JPY8.6bn, with operating profit rising 123.5% YoY to JPY988mn.Family Care Services revenue grew due to babysitter service demand and elderly care service earnings increase.Edu-care business revenue rose 6.1% YoY, driven by subsidy income growth and new facility openings.

Poppins Holdings Inc (7358 JP): Q1 FY12/25 flash update

<ul><li>Poppins reported revenue of JPY31.7bn (+9.7% YoY) and operating profit of JPY1.6bn (+35.5% YoY) for FY12/24. </li><li>Family Care Services revenue grew 21.9% YoY, driven by babysitter services and nanny service demand, despite increased SG&A expenses. </li><li>Edu-care business revenue increased 7.5% YoY, with 11 new facilities opened and improved enrollment rates in licensed nurseries.</li></ul>

Poppins reported revenue of JPY31.7bn (+9.7% YoY) and operating profit of JPY1.6bn (+35.5% YoY) for FY12/24. Family Care Services revenue grew 21.9% YoY, driven by babysitter services and nanny service demand, despite increased SG&A expenses. Edu-care business revenue increased 7.5% YoY, with 11 new facilities opened and improved enrollment rates in licensed nurseries.

Poppins Holdings Inc (7358 JP): Full-year FY12/24 flash update

<ul><li>Revenue increased to JPY15.7bn (+13.4% YoY), with operating profit at JPY710mn (+379.7% YoY) and recurring profit at JPY743mn (+370.3% YoY).</li><li>Family Care Services revenue grew due to expanded babysitter services, while Edu-care business saw steady growth from new nursery schools.</li><li>SG&A expenses rose to JPY2.5bn (+2.7% YoY) due to higher taxes, public charges, and call center and system maintenance expenses.</li></ul>

Revenue increased to JPY15.7bn (+13.4% YoY), with operating profit at JPY710mn (+379.7% YoY) and recurring profit at JPY743mn (+370.3% YoY).Family Care Services revenue grew due to expanded babysitter services, while Edu-care business saw steady growth from new nursery schools.SG&A expenses rose to JPY2.5bn (+2.7% YoY) due to higher taxes, public charges, and call center and system maintenance expenses.

Poppins Holdings Inc (7358 JP): 1H FY12/24 flash update

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

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.

Equity Capital Markets

<ul>
<li>TRYT Group is engaged in job placement and temporary staffing in the medical and welfare fields. The company has filed for an IPO and plans to raise around $450m.</li>
<li>The company’s top line has continued to expand; however, margins have continued to narrow down over the last 3-4 years.</li>
<li>We remain concerned over the company’s growth prospects and would only recommend subscribing if the IPO is priced attractively.</li>
</ul>


TRYT Group is engaged in job placement and temporary staffing in the medical and welfare fields. The company has filed for an IPO and plans to raise around $450m.
The company’s top line has continued to expand; however, margins have continued to narrow down over the last 3-4 years.
We remain concerned over the company’s growth prospects and would only recommend subscribing if the IPO is priced attractively.


<a href="https://www.smartkarma.com/entities/netjoy" target="_blank" data-smartkarma-citation="entities:29729:1" rel="noopener">Netjoy (2131 HK)</a>  is a leading short video marketing solutions provider and an online content services provider focusing on pan-entertainment in China. According to iResearch, the company had a market share of 0.5% of the total revenue of the overall online marketing market in China in 2019 in terms of revenues.The company’s key customers include advertisers and ad agencies and the company has well-established relationships with the country’s largest short-video platforms including Douyin, Kuaishou, etc.The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise net proceeds of HK$1.2bn (US$151m) at the midpoint of the IPO price range of HK$6.32 per share.

Netjoy (2131 HK)  is a leading short video marketing solutions provider and an online content services provider focusing on pan-entertainment in China. According to iResearch, the company had a market share of 0.5% of the total revenue of the overall online marketing market in China in 2019 in terms of revenues.The company’s key customers include advertisers and ad agencies and the company has well-established relationships with the country’s largest short-video platforms including Douyin, Kuaishou, etc.The company has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise net proceeds of HK$1.2bn (US$151m) at the midpoint of the IPO price range of HK$6.32 per share.

Japan

Poppins Holdings Inc. offers caring services. The Company provides child rearing supporting, infant education supporting, parenting business consulting, long term care supporting, care human resources development, and other services. Poppins Holdings provides its services throughout Japan.

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Poppins Holdings Inc (7358 JP)