Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Japan Experts, Extraordinary Performance

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

Equity Bottom-Up

<ul><li>High earnings visibility – Q1 FY3/2024 results indicate a robust start to the year with record-high quarterly sales, orders, and backlog.</li><li>We believe the company exhibits robust earnings visibility, which can be attributed to its adeptness in delivering high-value-added services within a highly competitive market, with its high-quality workforce and sufficient capacity.</li></ul><ul><li>Aiming for long-term sustainable growth –whilst strong results are appealing, we are encouraged by the following which we believe will allow the business the sustain long-term growth</li></ul>

High earnings visibility – Q1 FY3/2024 results indicate a robust start to the year with record-high quarterly sales, orders, and backlog.We believe the company exhibits robust earnings visibility, which can be attributed to its adeptness in delivering high-value-added services within a highly competitive market, with its high-quality workforce and sufficient capacity.Aiming for long-term sustainable growth –whilst strong results are appealing, we are encouraged by the following which we believe will allow the business the sustain long-term growth

Simplex Holdings (4373) - Firing on All Cylinders and Targeting Long- Term Growth

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genda-inc" target="_blank" data-smartkarma-citation="entities:39911:1" rel="noopener">Genda Inc (9166 JP)</a> raised around US$100m in its Japan IPO.</li>
<li>Genda develops and operates amusement facilities in Japan, primarily operating under its Genda GiGO Entertainment subsidiary.</li>
<li>In this note we will talk about the trading dynamics.</li>
</ul>



Genda Inc (9166 JP) raised around US$100m in its Japan IPO.
Genda develops and operates amusement facilities in Japan, primarily operating under its Genda GiGO Entertainment subsidiary.
In this note we will talk about the trading dynamics.


Genda IPO Trading - Stronger Subscription Rates than the Recent Large JP IPO

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tryt-inc" target="_blank" data-smartkarma-citation="entities:39870:1" rel="noopener">Tryt Inc (9164 JP)</a> priced its IPO at JPY1,200 per share to raise gross proceeds of US$339 million. The shares will start trading on 24 July.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/tryt-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:105670" rel="noopener">TRYT IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/tryt-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:105712" rel="noopener">TRYT IPO: The Bear Case</a>, <a href="https://www.smartkarma.com/insights/tryt-ipo-valuation-insights" target="_blank" data-smartkarma-citation="insights:106020" rel="noopener">TRYT IPO: Valuation Insights</a> and <a href="https://www.smartkarma.com/insights/tryt-ipo-revised-ipo-price-range-remains-unattractive" target="_blank" data-smartkarma-citation="insights:106233" rel="noopener">TRYT IPO: Revised IPO Price Range Remains Unattractive</a>. </li>
<li>The market sentiment on the sector has broadly remained unchanged since the release of the prospectus. Our analysis suggests that Tryt is, at best, fully priced at the IPO price.</li>
</ul>



Tryt Inc (9164 JP) priced its IPO at JPY1,200 per share to raise gross proceeds of US$339 million. The shares will start trading on 24 July.
We previously discussed the IPO in TRYT IPO: The Bull Case, TRYT IPO: The Bear Case, TRYT IPO: Valuation Insights and TRYT IPO: Revised IPO Price Range Remains Unattractive. 
The market sentiment on the sector has broadly remained unchanged since the release of the prospectus. Our analysis suggests that Tryt is, at best, fully priced at the IPO price.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/tryt-inc" target="_blank" data-smartkarma-citation="entities:39870:1" rel="noopener">Tryt Inc (9164 JP)</a> raised around US$344m in its Japan IPO. The IPO consisted of 100% secondary shares.</li>
<li>Tryt Inc (Tryt) offers employee placement services and temporary staffing services for the elderly care, nursing care and childcare workers segments.</li>
<li>In this note we will talk about the trading dynamics.</li>
</ul>



Tryt Inc (9164 JP) raised around US$344m in its Japan IPO. The IPO consisted of 100% secondary shares.
Tryt Inc (Tryt) offers employee placement services and temporary staffing services for the elderly care, nursing care and childcare workers segments.
In this note we will talk about the trading dynamics.


Tryt IPO Trading - Subscription Rates Mostly Outdid Recent Large Japan Deals

<ul>
<li>
<a href="https://www.smartkarma.com/entities/genda-inc" target="_blank" data-smartkarma-citation="entities:39911:1" rel="noopener">Genda Inc (9166 JP)</a> is looking to raise around US$100m in its Japan IPO.</li>
<li>Genda develops and operates amusement facilities in Japan, primarily operating under its Genda GiGO Entertainment subsidiary.</li>
<li>In this note, we will undertake a peer comparison, share our earnings assumptions and discuss our thoughts on valuation.</li>
</ul>



Genda Inc (9166 JP) is looking to raise around US$100m in its Japan IPO.
Genda develops and operates amusement facilities in Japan, primarily operating under its Genda GiGO Entertainment subsidiary.
In this note, we will undertake a peer comparison, share our earnings assumptions and discuss our thoughts on valuation.


Genda IPO - Has Weathered the Pandemic Better, Although Sector Doesn’t Seem to Be Growing Much

Japan

Simplex Holdings, Inc. provides system information technology solutions. The Company offers system consulting, system development, system operation and maintenance, and other services.  Simplex Holdings serves financial institutions across worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Simplex Holdings (4373 JP)

Simplex Holdings (4373) - Firing on All Cylinders and Targeting Long- Term Growth

High earnings visibility – Q1 FY3/2024 results indicate a robust start to the year with record-high quarterly sales, orders, and backlog.

Astris Advisory Japan

Genda IPO Trading - Stronger Subscription Rates than the Recent Large JP IPO

Genda Inc (9166 JP) raised around US$100m in its Japan IPO. Genda develops and operates amusement facilities in Japan. In this note we will talk...

Clarence Chu

TRYT IPO: Trading Debut

The market sentiment on the sector has broadly remained unchanged since the release of the prospectus. Our analysis suggests that Tryt is, at best,...

Arun George

Tryt IPO Trading - Subscription Rates Mostly Outdid Recent Large Japan Deals

Tryt Inc (9164 JP) raised around US$344m in its Japan IPO. The IPO consisted of 100% secondary shares. In this note we will talk about the trading...

Clarence Chu

Genda IPO - Has Weathered the Pandemic Better, Although Sector Doesn’t Seem to Be Growing Much

Genda Inc (9166 JP) is looking to raise around US$100m in its Japan IPO. In this note, we will undertake a peer comparison, share our earnings...

Clarence Chu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)