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 10.5% YoY to JPY254.3bn, while net income declined by 18.4% YoY to JPY10.1bn.</li><li>SG&A expenses rose 12.5% YoY to JPY21.4bn, driven by human resources and IT investments, with capital cost increasing 105.8% YoY.</li><li>Total operating assets rose 4.9% YoY to JPY1.28tn, driven by growth in finance and operating leases.</li></ul>

Revenue increased by 10.5% YoY to JPY254.3bn, while net income declined by 18.4% YoY to JPY10.1bn.SG&A expenses rose 12.5% YoY to JPY21.4bn, driven by human resources and IT investments, with capital cost increasing 105.8% YoY.Total operating assets rose 4.9% YoY to JPY1.28tn, driven by growth in finance and operating leases.

Ricoh Leasing (8566 JP): Q3 FY03/26 flash update

<ul><li>Revenue increased by 11.2% YoY to JPY170.9bn, while net income declined by 24.4% YoY to JPY6.3bn. </li><li>SG&A expenses rose 14.8% YoY to JPY14.4bn, with capital cost increasing 110.9% YoY due to higher interest rates. </li><li>Total operating assets grew 2.4% YoY to JPY1.25tn, driven by finance, operating leases, and real estate assets.</li></ul>

Revenue increased by 11.2% YoY to JPY170.9bn, while net income declined by 24.4% YoY to JPY6.3bn. SG&A expenses rose 14.8% YoY to JPY14.4bn, with capital cost increasing 110.9% YoY due to higher interest rates. Total operating assets grew 2.4% YoY to JPY1.25tn, driven by finance, operating leases, and real estate assets.

Ricoh Leasing (8566 JP): 1H FY03/26 flash update

<ul><li>Revenue increased by 8.9% YoY to JPY82.4bn, while operating profit decreased by 3.4% YoY to JPY4.9bn. </li><li>SG&A expenses rose 17.5% YoY to JPY7.3bn, influenced by investments in human resources and IT infrastructure. </li><li>Total operating assets increased 8.6% YoY to JPY1.24tn, driven by growth in finance and operating leases. </li></ul>

Revenue increased by 8.9% YoY to JPY82.4bn, while operating profit decreased by 3.4% YoY to JPY4.9bn. SG&A expenses rose 17.5% YoY to JPY7.3bn, influenced by investments in human resources and IT infrastructure. Total operating assets increased 8.6% YoY to JPY1.24tn, driven by growth in finance and operating leases. 

Ricoh Leasing (8566 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

TSE Tokyo Price Index TOPIX / Technical Analysis

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

Continue to favor EAFE over EM. As long as the U.S. dollar remains elevated, we believe  developed international (EAFE) will remain in a leadership position relative to EM (MSCI EM). In this report we highlight actionable set ups within Japan, Switzerland and Australia. Within Japanese Sectors, we focus on opportunities within Technology, Financials, Health Care, and Staples. We also highlight attractive setups within European/UK Sectors, including Health Care, Industrials, Staples and Utilities.

MSCI AC Asia Pacific Excluding Japan Index / Technical Analysis

MSCI AC Asia Pacific Excluding Japan Index (MXAPJ INDEX)

MSCI AC Asia Pacific Excluding Japan Index

As all eyes are focused on Europe—the current darling trade—Asia is emerging as a technical leader. The MSCI All-Country Asia Index (below) is breaking out from a two-year base. Relative strength (vs. MSCI ACWI ex-US) depicts a similar pattern; after lagging since mid-2015, its RS trend has slowly rounded higher, resulting in the recent breakout. Combined, this warrants an overweight.Today’s report is a country by country review of leadership and actionable themes within the region, including stock recommendations.

As all eyes are focused on Europe—the current darling trade—Asia is emerging as a technical leader. The MSCI All-Country Asia Index (below) is breaking out from a two-year base. Relative strength (vs. MSCI ACWI ex-US) depicts a similar pattern; after lagging since mid-2015, its RS trend has slowly rounded higher, resulting in the recent breakout. Combined, this warrants an overweight.Today’s report is a country by country review of leadership and actionable themes within the region, including stock recommendations.

Japan

RICOH LEASING COMPANY, LTD. offers credit sales and leasing of office automation equipment such as copiers mainly manufactured by its parent, Ricoh.  The Company leases industrial machinery such as construction machinery, transportation equipment, and medical device.

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Ricoh Leasing (8566 JP)