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>FY03/26 marks the final year of “Medium-Term Plan 2025” with record Q1 sales and profits across segments.</li><li>Sales rose 3.4% YoY, driven by customer growth in Information and Communications and Construction, Equipment, and Real Estate.</li><li>Operating profit increased 18.7% YoY, despite higher personnel costs, due to strategic customer acquisition and cost management.</li></ul>

FY03/26 marks the final year of “Medium-Term Plan 2025” with record Q1 sales and profits across segments.Sales rose 3.4% YoY, driven by customer growth in Information and Communications and Construction, Equipment, and Real Estate.Operating profit increased 18.7% YoY, despite higher personnel costs, due to strategic customer acquisition and cost management.

Tokai Holdings (3167 JP): Q1 FY03/26 flash update

<ul><li>The company reported record-high sales of JPY243.5bn (+5.2% YoY) and operating profit of JPY16.8bn (+8.6% YoY).</li><li>Segment sales and operating profits increased YoY, with notable growth in LP gas, construction, and Aqua services.</li><li>The company forecasts FY03/26 sales of JPY253.0bn (+3.9% YoY) and net income of JPY10.0bn (+8.5% YoY).</li></ul>

The company reported record-high sales of JPY243.5bn (+5.2% YoY) and operating profit of JPY16.8bn (+8.6% YoY).Segment sales and operating profits increased YoY, with notable growth in LP gas, construction, and Aqua services.The company forecasts FY03/26 sales of JPY253.0bn (+3.9% YoY) and net income of JPY10.0bn (+8.5% YoY).

Tokai Holdings (3167 JP): Full-year FY03/25 flash update

<ul><li>The company reported YoY increases: sales JPY173.2bn (+5.2%), operating profit JPY9.7bn (+10.4%), recurring profit JPY10.1bn (+13.0%), net income JPY5.6bn (+14.4%).</li><li>Segment sales: LP gas JPY61.0bn (+8.0%), city gas JPY12.2bn (-4.9%), Information and Communications JPY43.4bn (+3.7%).</li><li>Customer growth: LP gas +29,000, city gas stable, Aqua services +20,000, broadband +3,000, LIBMO -2,000.</li></ul>

The company reported YoY increases: sales JPY173.2bn (+5.2%), operating profit JPY9.7bn (+10.4%), recurring profit JPY10.1bn (+13.0%), net income JPY5.6bn (+14.4%).Segment sales: LP gas JPY61.0bn (+8.0%), city gas JPY12.2bn (-4.9%), Information and Communications JPY43.4bn (+3.7%).Customer growth: LP gas +29,000, city gas stable, Aqua services +20,000, broadband +3,000, LIBMO -2,000.

Tokai Holdings (3167 JP): Q3 FY03/25 flash update

<ul><li>The company reported a YoY sales increase of 5.6% to JPY111.1bn, with operating profit rising 9.5% to JPY4.7bn.</li><li>LP gas sales rose 9.1% YoY to JPY37.5bn, while city gas sales declined 8.0% YoY to JPY7.9bn.</li><li>Construction, Equipment, and Real Estate segment saw sales of JPY11.9bn (+9.1% YoY) and operating profit of JPY375bn (+84.4%).</li></ul>

The company reported a YoY sales increase of 5.6% to JPY111.1bn, with operating profit rising 9.5% to JPY4.7bn.LP gas sales rose 9.1% YoY to JPY37.5bn, while city gas sales declined 8.0% YoY to JPY7.9bn.Construction, Equipment, and Real Estate segment saw sales of JPY11.9bn (+9.1% YoY) and operating profit of JPY375bn (+84.4%).

Tokai Holdings (3167 JP): 1H FY03/25 flash update

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Sep 19th. The aggregated net margin trading position is USD16,218m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing, Sanrio, Mitsubishi UFJ Financial, Fujikura, Koei Tecmo, Lifedrink, Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Sep 19th. The aggregated net margin trading position is USD16,218m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing, Sanrio, Mitsubishi UFJ Financial, Fujikura, Koei Tecmo, Lifedrink, Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing.


JPX Margin Trading Weekly (Sep 19th): Lasertec, Disco, Tokyo Electron, Nintendo, Fast Retailing

Japan

TOKAI Holdings Corporation is a holding company established through reorganization of TOKAI CORPORATION and VIC TOKAI CORPORATION.  The Group mainly provides energy business and information-communication business.  TOKAI Holdings Corporation also provides construction and real estate, bridal and insurance and security businesses.

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Tokai Holdings (3167 JP)