Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-Japan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank, Rakuten, Nippon Steel, Sompo.</li>
</ul>


We analysed the earning revision of component stocks of MS-Japan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank, Rakuten, Nippon Steel, Sompo.


MS-Japan Index Earning Revision (Dec): Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank

APAC IPOs & Placements, Aequitas Research

Akshat Shah

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/ns-group-inc" target="_blank" data-smartkarma-citation="entities:46003:1" rel="noopener">NS Group (471A JP)</a> (NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.</li>
<li>It raised around US$220m in its Japan IPO via an entirely secondary offering.</li>
<li>In our previous note, we looked at its past performance and the deal dynamics. In this note, look at the trading dynamics.</li>
</ul>



NS Group (471A JP) (NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.
It raised around US$220m in its Japan IPO via an entirely secondary offering.
In our previous note, we looked at its past performance and the deal dynamics. In this note, look at the trading dynamics.


NS Group IPO Trading- Decent Institutional Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ns-group-inc" target="_blank" data-smartkarma-citation="entities:46003:1" rel="noopener">NS Group (471A JP) </a>(NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.</li>
<li>NSG aims to raise around US$220m in its Japan IPO via an entirely secondary offering, marking Bain Capital’s full exit from the company.</li>
<li>In our previous note, we looked at the firm’s past performance and peer comparison. In this note, we talk about the pricing updates and IPO valuations.</li>
</ul>



NS Group (471A JP) (NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.
NSG aims to raise around US$220m in its Japan IPO via an entirely secondary offering, marking Bain Capital’s full exit from the company.
In our previous note, we looked at the firm’s past performance and peer comparison. In this note, we talk about the pricing updates and IPO valuations.


NS Group IPO - Deal Downsized; Pricing Looks Digestible Now

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ns-group-inc" target="_blank" data-smartkarma-citation="entities:46003:1" rel="noopener">NS Group (471A JP)</a> (NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.</li>
<li>NSG aims to raise around US$256m in its Japan IPO via an entirely secondary offering, marking Bain Capital’s full exit from the company.</li>
<li>In our previous note, we looked at the firm’s past performance. In this note, we talk about the peer comparison and IPO valuations.</li>
</ul>



NS Group (471A JP) (NSG) is one of Japan’s leading rent guarantee service providers, offering payment guarantee and rent collection solutions to property owners and management companies.
NSG aims to raise around US$256m in its Japan IPO via an entirely secondary offering, marking Bain Capital’s full exit from the company.
In our previous note, we looked at the firm’s past performance. In this note, we talk about the peer comparison and IPO valuations.


NS Group IPO - Peer Comp and Thoughts on Valuation

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published in the past two weeks on Smartkarma</li>
<li>In this cut, we compare Japanese insurers versus banks, look at the Chinese EV sector and explore how tariff hikes benefit Asian port operators</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published in the past two weeks on Smartkarma
In this cut, we compare Japanese insurers versus banks, look at the Chinese EV sector and explore how tariff hikes benefit Asian port operators
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

Japan

Sompo Holdings, Inc, is a holding company established through the integration of Sompo Japan Insurance Inc. and NIPPONKOA Insurance Company Limited. Through subsidiaries, the Company provides non-life insurance including marine, fire, and automobile, as well as life insurance.

Price Gauge
52-week Range	0.00 - 0.00
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Sompo Holdings (8630 JP)

MS-Japan Index Earning Revision (Dec): Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank

We analyzed MS-Japan's consensus for Dec 2025 and highlighted changes of EPS in Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank, Rakuten,...

Ke Yan, CFA, FRM

NS Group IPO Trading- Decent Institutional Demand

NS Group raised around US$220m in its Japan IPO via an entirely secondary offering. In this note, we take a look at the trading dynamics.

Akshat Shah

NS Group IPO - Deal Downsized; Pricing Looks Digestible Now

NS Group aims to raise around US$220m in its Japan IPO via an entirely secondary offering. In this note, we talk about the pricing updates and IPO...

Akshat Shah

NS Group IPO - Peer Comp and Thoughts on Valuation

NS Group aims to raise around US$256m in its Japan IPO via an entirely secondary offering. In this note, we talk about the peer comparison and IPO...

Akshat Shah

Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MS-Japan Index Earning Revision (Dec): Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank

We analyzed MS-Japan's consensus for Dec 2025 and highlighted changes of EPS in Itochu, Toyota Motor, Sumitomo Mitsui Financial, SoftBank, Rakuten,...

Ke Yan, CFA, FRM

NS Group IPO Trading- Decent Institutional Demand

NS Group raised around US$220m in its Japan IPO via an entirely secondary offering. In this note, we take a look at the trading dynamics.

Akshat Shah

NS Group IPO - Deal Downsized; Pricing Looks Digestible Now

NS Group aims to raise around US$220m in its Japan IPO via an entirely secondary offering. In this note, we talk about the pricing updates and IPO...

Akshat Shah

NS Group IPO - Peer Comp and Thoughts on Valuation

NS Group aims to raise around US$256m in its Japan IPO via an entirely secondary offering. In this note, we talk about the peer comparison and IPO...

Akshat Shah

Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

​This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...

Pranav Rao

This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...