Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

<ul>
<li>Yesterday post-close, <a href="https://www.smartkarma.com/entities/sakata-inx-corp" target="_blank" data-smartkarma-citation="entities:19446:1" rel="noopener">Sakata Inx Corp (4633 JP)</a> announced a ¥6bn+ selldown offering by financial crossholders. There may be others to come, but not clear how much.</li>
<li>The company has had a good couple of years, the stock has reached book value. Optimised balance sheet ROE now clears 10%.</li>
<li>Index impact is limited in all respects. Low vol, low multiple, decent dividend, high earnings progression on decent business growth are all positive factors. </li>
</ul>


Yesterday post-close, Sakata Inx Corp (4633 JP) announced a ¥6bn+ selldown offering by financial crossholders. There may be others to come, but not clear how much.
The company has had a good couple of years, the stock has reached book value. Optimised balance sheet ROE now clears 10%.
Index impact is limited in all respects. Low vol, low multiple, decent dividend, high earnings progression on decent business growth are all positive factors. 


[Japan Offering] Sakata Inx (4633 JP) Selldown by Financial Crossholders

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Equity Bottom-Up

<ul><li>Revenue increased by 5.3% YoY to JPY192.0bn, with net income rising 17.1% YoY to JPY9.8bn.</li><li>Segment operating profits showed varied growth, with notable increases in packaging inks and stable raw material costs.</li><li>Forex impacts and structural market changes influenced revenue and operating profit across segments, with mixed YoY performance.</li></ul>

Revenue increased by 5.3% YoY to JPY192.0bn, with net income rising 17.1% YoY to JPY9.8bn.Segment operating profits showed varied growth, with notable increases in packaging inks and stable raw material costs.Forex impacts and structural market changes influenced revenue and operating profit across segments, with mixed YoY performance.

Sakata Inx Corp (4633 JP): Q3 FY12/25 flash update

<ul><li>Revenue for 1H FY12/25 was JPY126.4bn, achieving 95.0% of the forecast, with a 4.4% YoY increase.</li><li>Operating profit for 1H FY12/25 rose 5.4% YoY to JPY7.6bn, achieving 104.7% of the forecast.</li><li>The company forecasts FY12/25 revenue of JPY268.0bn, with a 9.1% YoY increase, driven by ink volume growth.</li></ul>

Revenue for 1H FY12/25 was JPY126.4bn, achieving 95.0% of the forecast, with a 4.4% YoY increase.Operating profit for 1H FY12/25 rose 5.4% YoY to JPY7.6bn, achieving 104.7% of the forecast.The company forecasts FY12/25 revenue of JPY268.0bn, with a 9.1% YoY increase, driven by ink volume growth.

Sakata Inx Corp (4633 JP): 1H FY12/25 flash update

<ul><li>Revenue increased 8.3% YoY to JPY64.1bn, with ink sales volume contributing JPY4.0bn and forex JPY500mn.</li><li>Operating profit decreased 1.8% YoY to JPY3.9bn, impacted by cost increases and raw material expenses.</li><li>Segment revenue and operating profit varied, with notable changes in packaging inks, gravure inks, and inkjet inks sales.</li></ul>

Revenue increased 8.3% YoY to JPY64.1bn, with ink sales volume contributing JPY4.0bn and forex JPY500mn.Operating profit decreased 1.8% YoY to JPY3.9bn, impacted by cost increases and raw material expenses.Segment revenue and operating profit varied, with notable changes in packaging inks, gravure inks, and inkjet inks sales.

Sakata Inx Corp (4633 JP): Q1 FY12/25 flash update

<ul><li>FY12/24 revenue was JPY245.6bn (+7.5% YoY), with operating profit at JPY13.2bn (+15.0% YoY) and net income JPY9.0bn (+20.6% YoY).</li><li>Segment revenue and operating profit showed mixed results, with notable increases in packaging inks and digital printing materials sales.</li><li>FY12/25 forecasts project revenue of JPY268.0bn (+9.1% YoY), with operating profit at JPY15.5bn (+17.8% YoY) and net income JPY10.8bn (+19.9% YoY).</li></ul>

FY12/24 revenue was JPY245.6bn (+7.5% YoY), with operating profit at JPY13.2bn (+15.0% YoY) and net income JPY9.0bn (+20.6% YoY).Segment revenue and operating profit showed mixed results, with notable increases in packaging inks and digital printing materials sales.FY12/25 forecasts project revenue of JPY268.0bn (+9.1% YoY), with operating profit at JPY15.5bn (+17.8% YoY) and net income JPY10.8bn (+19.9% YoY).

Sakata Inx Corp (4633 JP): Full-year FY12/24 flash update

Japan

SAKATA INX CORPORATION mainly produces printing inks, equipment, and other related materials for the newspaper and cardboard industries.

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Sakata Inx Corp (4633 JP)

[Japan Offering] Sakata Inx (4633 JP) Selldown by Financial Crossholders

Sakata Inx has announced a secondary offering by financial crossholders. This looks like an opportunity to buy a dip but notably, the company is...

Travis Lundy