Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 23 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>One new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Soul Patts (SOL AU)</a> &amp; Genesis Capital's NBIO for <a href="https://www.smartkarma.com/entities/monash-ivf-group-ltd" target="_blank" data-smartkarma-citation="entities:18130:1" rel="noopener">Monash IVF (MVF AU)</a>.</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/national-storage-reit" target="_blank" data-smartkarma-citation="entities:13762:1" rel="noopener">National Storage REIT (NSR AU)</a>, <a href="https://www.smartkarma.com/entities/magnetic-resources-nl" target="_blank" data-smartkarma-citation="entities:17051:1" rel="noopener">Magnetic Resources Nl (MAU AU)</a>, <a href="https://www.smartkarma.com/entities/evergrande-property-services" target="_blank" data-smartkarma-citation="entities:30921:1" rel="noopener">Evergrande Property Services (6666 HK)</a>, and <a href="https://www.smartkarma.com/entities/sankei-real-estate-inc" target="_blank" data-smartkarma-citation="entities:35239:1" rel="noopener">Sankei Real Estate (2972 JP)</a><a href="https://www.smartkarma.com/entities/sankei-real-estate-inc" target="_blank" data-smartkarma-citation="entities:35239:1" rel="noopener"></a>.</li>
</ul>


I tally 23 - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
One new deal was discussed on Smartkarma this week: Soul Patts (SOL AU) &amp; Genesis Capital's NBIO for Monash IVF (MVF AU).
Key updates/news also took place on: National Storage REIT (NSR AU), Magnetic Resources Nl (MAU AU), Evergrande Property Services (6666 HK), and Sankei Real Estate (2972 JP).


Asia-Pac M&A Weekly Wrap: Monash IVF, National Storage, Evergrande Property, Sankei Real Estate

Research Coverage of Japanese Listed Companies, Shared Research Inc

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<ul><li>Q1 FY03/26 revenue was JPY27.3bn (+74.2% YoY), with operating profit at JPY6.0bn (+112.5% YoY).</li><li>Segment revenue for the Hotel and Tourism business was JPY4.6bn (+24.9% YoY), with a profit of JPY1.1bn.</li><li>Total assets at end-Q1 FY03/26 were JPY217.9bn, with net assets at JPY107.7bn (+1.7% from end-FY03/25).</li></ul>

Q1 FY03/26 revenue was JPY27.3bn (+74.2% YoY), with operating profit at JPY6.0bn (+112.5% YoY).Segment revenue for the Hotel and Tourism business was JPY4.6bn (+24.9% YoY), with a profit of JPY1.1bn.Total assets at end-Q1 FY03/26 were JPY217.9bn, with net assets at JPY107.7bn (+1.7% from end-FY03/25).

Sun Frontier Fudousan (8934 JP): Q1 FY03/26 flash update

<ul><li>Revenue and profit declined YoY due to the absence of large property sales and hotel sales in FY03/24.</li><li>The company expects to achieve its full-year forecast, with significant property sales concentrated in Q4 FY03/25.</li><li>Hotel operation business saw a significant YoY increase in revenue and profit due to rising occupancy rates and ADR.</li></ul>

Revenue and profit declined YoY due to the absence of large property sales and hotel sales in FY03/24.The company expects to achieve its full-year forecast, with significant property sales concentrated in Q4 FY03/25.Hotel operation business saw a significant YoY increase in revenue and profit due to rising occupancy rates and ADR.

Sun Frontier Fudousan (8934 JP): Q3 FY03/25 flash update

<ul><li>Revenue decreased by 24.9% YoY to JPY36.8bn, with operating profit down 44.2% YoY to JPY6.7bn.</li><li>Hotel operation business saw revenue rise 31.1% YoY to JPY7.9bn, with profit increasing 58.4% YoY to JPY2.0bn.</li><li>Total assets at end-1H FY03/25 were JPY199.2bn, up 5.6% from end-FY03/24, with liabilities at JPY101.4bn.</li></ul>

Revenue decreased by 24.9% YoY to JPY36.8bn, with operating profit down 44.2% YoY to JPY6.7bn.Hotel operation business saw revenue rise 31.1% YoY to JPY7.9bn, with profit increasing 58.4% YoY to JPY2.0bn.Total assets at end-1H FY03/25 were JPY199.2bn, up 5.6% from end-FY03/24, with liabilities at JPY101.4bn.

Sun Frontier Fudousan (8934 JP): 1H FY03/25 flash update

<ul><li>Q1 FY03/25 revenue was JPY15.7bn (-15.0% YoY), operating profit JPY2.86bn (-32.6% YoY), net income JPY1.9bn (-40.1% YoY).</li><li>Real Estate Revitalization business saw revenue JPY8.7bn (+13.2% YoY), profit JPY2.3bn (+14.7% YoY), profit margin 27.0% (+0.3pp YoY).</li><li>Hotel and Tourism business reported revenue JPY3.7bn (-54.2% YoY), profit JPY845mn (-68.0% YoY), profit margin 23.0% (-9.9pp YoY).</li></ul>

Q1 FY03/25 revenue was JPY15.7bn (-15.0% YoY), operating profit JPY2.86bn (-32.6% YoY), net income JPY1.9bn (-40.1% YoY).Real Estate Revitalization business saw revenue JPY8.7bn (+13.2% YoY), profit JPY2.3bn (+14.7% YoY), profit margin 27.0% (+0.3pp YoY).Hotel and Tourism business reported revenue JPY3.7bn (-54.2% YoY), profit JPY845mn (-68.0% YoY), profit margin 23.0% (-9.9pp YoY).

Sun Frontier Fudousan (8934 JP): Q1 FY03/25 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)

Asia-Pac M&A Weekly Wrap: Monash IVF, National Storage, Evergrande Property, Sankei Real Estate

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett