Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

<p>We initially screened for names that do not have a lot of cash relative to their short-term debt. We then went a step further and limited the universe to names that have bonds/loans coming due in the next 3 years. <a href="https://www.smartkarma.com/entities/315" target="_blank" data-smartkarma-citation="entities:315:1">Softbank Group Corp (9984 JP)</a> is the largest names to make the list. Softbank's Short-term debt to cash ratio (%) is 221%. Softbank has ¥1.5tn in cash &amp; short-term investments, compared to ¥3.9tn in short-term debt. </p><h2>Screen Criteria</h2><ol>
<li>Mkt-cap greater than ¥50bn</li>
<li>Short-term Debt to Cash is…</li>
</ol>

We initially screened for names that do not have a lot of cash relative to their short-term debt. We then went a step further and limited the universe to names that have bonds/loans coming due in the next 3 years. Softbank Group Corp (9984 JP) is the largest names to make the list. Softbank's Short-term debt to cash ratio (%) is 221%. Softbank has ¥1.5tn in cash &amp; short-term investments, compared to ¥3.9tn in short-term debt. Screen Criteria
Mkt-cap greater than ¥50bn
Short-term Debt to Cash is…


Names with Bonds Coming Due and Not a Lot of Cash...

<p>With approx 280 names (mkt-cap above ¥50bn) announcing earnings before Golden Week, the overall picture is starting to form up. Currently FY3/17 aggregate Sales are down 3%, OP is down 7% and Net Income is up 5%. However if we look at new Company guidance for FY3/18, aggregate Sales is expected to grow 3.4%, OP is expected to be up 4% and Net Income is expected to grow 10%.  </p><h2> Full-year Aggregate Sector Results</h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/025/480/original/1.png?1493843086" class="editor-image img-responsive" data-smartkarma-image-id="25480"></figure><div class="content-caption">Source: Custom Products</div><p>Looking at new guidance for FY3/18 at the Sector level…</p>

With approx 280 names (mkt-cap above ¥50bn) announcing earnings before Golden Week, the overall picture is starting to form up. Currently FY3/17 aggregate Sales are down 3%, OP is down 7% and Net Income is up 5%. However if we look at new Company guidance for FY3/18, aggregate Sales is expected to grow 3.4%, OP is expected to be up 4% and Net Income is expected to grow 10%.   Full-year Aggregate Sector ResultsSource: Custom ProductsLooking at new guidance for FY3/18 at the Sector level…

Aggregate Japan OP Currently Down 7%, However New FY3/18 OP Expected to Increase 4%....

Japan

Shochiku Co., Ltd. produces and distributes movies, videos and TV shows. The Company also operates Kabuki theaters and distributes foreign films.

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Shochiku Co Ltd (9601 JP)

Names with Bonds Coming Due and Not a Lot of Cash...

We initially screened for names that do not have a lot of cash relative to their short-term debt. We then went a step further and limited the...

Custom Products Group

Aggregate Japan OP Currently Down 7%, However New FY3/18 OP Expected to Increase 4%....

With approx 280 names (mkt-cap above ¥50bn) announcing earnings before Golden Week, the overall picture is starting to form up. Currently FY3/17...

Custom Products Group

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52-week Range

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