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 9.6% YoY to JPY29.9bn, with operating profit rising by 6.7% YoY to JPY6.4bn.</li><li>Segment revenue for the Real Estate Revitalization business was JPY18.7bn, with a profit margin of 27.3%.</li><li>Total assets at end-Q1 FY03/27 were JPY292.1bn, with net assets increasing by 13.1% to JPY136.1bn.</li></ul>

Revenue increased by 9.6% YoY to JPY29.9bn, with operating profit rising by 6.7% YoY to JPY6.4bn.Segment revenue for the Real Estate Revitalization business was JPY18.7bn, with a profit margin of 27.3%.Total assets at end-Q1 FY03/27 were JPY292.1bn, with net assets increasing by 13.1% to JPY136.1bn.

Sun Frontier Fudousan (8934 JP): Q1 FY03/27 flash report

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/sun-frontier-fudousan-co-ltd" target="_blank" data-smartkarma-citation="entities:18205:1" rel="noopener">Sun Frontier Fudousan (8934 JP)</a> and <a href="https://www.smartkarma.com/entities/itochu-corp" target="_blank" data-smartkarma-citation="entities:18448:1" rel="noopener">Itochu Corp (8001 JP)</a> signed a capital alliance. As part of that, Itochu is buying up to 6.657mm shares in a partial tender.</li>
<li>It is also buying 5.5mm shares at a discount in a 3rd party placement. Advantage Partners will convert and tender some of its CB. Itochu will own 15-20+% post-deal.</li>
<li>This is Itochu getting into a new position. It's a new career being made. It is possibly a precursor to buying out the founder in a couple of years.</li>
</ul>


Today, Sun Frontier Fudousan (8934 JP) and Itochu Corp (8001 JP) signed a capital alliance. As part of that, Itochu is buying up to 6.657mm shares in a partial tender.
It is also buying 5.5mm shares at a discount in a 3rd party placement. Advantage Partners will convert and tender some of its CB. Itochu will own 15-20+% post-deal.
This is Itochu getting into a new position. It's a new career being made. It is possibly a precursor to buying out the founder in a couple of years.


[Japan Event] Itochu Partial Tender for 13+% of Sun Frontier Fudosan (8934). Tiny Premium. No Min.

<ul><li>FY03/26 revenue reached JPY116.1bn (+12.5% YoY), with operating profit at JPY25.4bn (+19.2% YoY), and net income JPY16.0bn (+12.9% YoY).</li><li>Real Estate Revitalization business saw segment revenue of JPY76.4bn (+7.1% YoY) and segment profit of JPY22.1bn (+10.2% YoY).</li><li>FY03/27 forecasts over 10% growth in revenue and recurring profit, with an annual dividend per share of JPY80.0.</li></ul>

FY03/26 revenue reached JPY116.1bn (+12.5% YoY), with operating profit at JPY25.4bn (+19.2% YoY), and net income JPY16.0bn (+12.9% YoY).Real Estate Revitalization business saw segment revenue of JPY76.4bn (+7.1% YoY) and segment profit of JPY22.1bn (+10.2% YoY).FY03/27 forecasts over 10% growth in revenue and recurring profit, with an annual dividend per share of JPY80.0.

8934 JP: Full-year FY03/26 results and upward revision to the medium-term management plan

<ul><li>Revenue increased by 27.5% YoY to JPY77.1bn, with operating profit up 43.4% YoY to JPY17.2bn.</li><li>Hotel operation business revenue rose 22.3% YoY to JPY14.9bn, with a 23.5% YoY profit increase to JPY3.7bn.</li><li>Total assets at end-Q3 FY03/26 were JPY250.2bn, with liabilities at JPY140.9bn, and net assets at JPY109.3bn.</li></ul>

Revenue increased by 27.5% YoY to JPY77.1bn, with operating profit up 43.4% YoY to JPY17.2bn.Hotel operation business revenue rose 22.3% YoY to JPY14.9bn, with a 23.5% YoY profit increase to JPY3.7bn.Total assets at end-Q3 FY03/26 were JPY250.2bn, with liabilities at JPY140.9bn, and net assets at JPY109.3bn.

Sun Frontier Fudousan (8934 JP): Q3 FY03/26 flash update

<ul><li>Revenue increased to JPY58.2bn (+58.3% YoY), with operating profit at JPY14.1bn (+110.8% YoY) and net income JPY9.0bn (+103.4% YoY).</li><li>Segment revenue reached JPY39.3bn (+76.0% YoY), with a segment profit of JPY11.8bn (+95.1% YoY) and margin of 30.0%.</li><li>Total assets at end-Q2 FY03/26 were JPY237.8bn (+9.0% from end-FY03/25), with liabilities at JPY128.3bn (+14.3%).</li></ul>

Revenue increased to JPY58.2bn (+58.3% YoY), with operating profit at JPY14.1bn (+110.8% YoY) and net income JPY9.0bn (+103.4% YoY).Segment revenue reached JPY39.3bn (+76.0% YoY), with a segment profit of JPY11.8bn (+95.1% YoY) and margin of 30.0%.Total assets at end-Q2 FY03/26 were JPY237.8bn (+9.0% from end-FY03/25), with liabilities at JPY128.3bn (+14.3%).

Sun Frontier Fudousan (8934 JP): 1H FY03/26 flash update

Japan

Sun Frontier Fudousan Co., Ltd. operates property management services as well as real estate consulting services.  The Company also leases and sells commercial buildings as an agent.

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Sun Frontier Fudousan (8934 JP)