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

Usen-Next Holdings Co Ltd / Equity Bottom-Up

<ul><li>FY08/25 revenue rose 19.5% YoY to JPY390.4bn, with all segments surpassing expectations and achieving high progress rates.</li><li>FY08/26 forecast expects revenue of JPY424.0bn (+8.6% YoY), operating profit of JPY33.5bn (+6.1% YoY), and EBITDA of JPY46.5bn.</li><li>New medium-term plan "Road to 2030" targets revenue of JPY600.0–645.0bn and operating profit of JPY45.0–51.5bn.</li></ul>

FY08/25 revenue rose 19.5% YoY to JPY390.4bn, with all segments surpassing expectations and achieving high progress rates.FY08/26 forecast expects revenue of JPY424.0bn (+8.6% YoY), operating profit of JPY33.5bn (+6.1% YoY), and EBITDA of JPY46.5bn.New medium-term plan "Road to 2030" targets revenue of JPY600.0–645.0bn and operating profit of JPY45.0–51.5bn.

Usen-Next Holdings Co Ltd (9418 JP): Full-year FY08/25 flash update

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 analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.</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 SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.
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 SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.


JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

<ul><li>Cumulative Q3 FY08/25 revenue rose 20.3% YoY, with operating profit up 2.9% YoY; no full-year forecast revision.</li><li>Segment revenue progress rates: Content Distribution 77.8%, Store & Facility Solutions 78.6%, Communications & Energy 79.4%, Finance 92.0%.</li><li>Full-year FY08/25 forecast: Revenue JPY360.0bn (+10.2% YoY), operating profit JPY31.0bn (+6.5% YoY), dividend JPY14.0/share.</li></ul>

Cumulative Q3 FY08/25 revenue rose 20.3% YoY, with operating profit up 2.9% YoY; no full-year forecast revision.Segment revenue progress rates: Content Distribution 77.8%, Store & Facility Solutions 78.6%, Communications & Energy 79.4%, Finance 92.0%.Full-year FY08/25 forecast: Revenue JPY360.0bn (+10.2% YoY), operating profit JPY31.0bn (+6.5% YoY), dividend JPY14.0/share.

Usen-Next Holdings Co Ltd (9418 JP): Q3 FY08/25 flash update

<ul><li>1H FY08/25 revenue increased 22.7% YoY to JPY186.8bn, with progress toward full-year forecast at 51.9%.</li><li>Operating profit rose 5.0% YoY to JPY16.6bn, with all segments showing growth except Communications & Energy.</li><li>Subscriber count for U-NEXT increased by 150,000, while former Paravi subscribers declined by 20,000 in 1H FY08/25.</li></ul>

1H FY08/25 revenue increased 22.7% YoY to JPY186.8bn, with progress toward full-year forecast at 51.9%.Operating profit rose 5.0% YoY to JPY16.6bn, with all segments showing growth except Communications & Energy.Subscriber count for U-NEXT increased by 150,000, while former Paravi subscribers declined by 20,000 in 1H FY08/25.

Usen-Next Holdings Co Ltd (9418 JP): 1H FY08/25 flash update

<ul><li>Q1 FY08/25 revenue rose 24.7% YoY to JPY91.9bn, with all segments showing YoY revenue growth.</li><li>Operating profit increased 10.3% YoY to JPY8.3bn, with all segments except Communications & Energy showing profit growth.</li><li>Subscriber growth boosted annual recurring revenue to JPY106.4bn, while advertising expenses decreased by 9.7% YoY.</li></ul>

Q1 FY08/25 revenue rose 24.7% YoY to JPY91.9bn, with all segments showing YoY revenue growth.Operating profit increased 10.3% YoY to JPY8.3bn, with all segments except Communications & Energy showing profit growth.Subscriber growth boosted annual recurring revenue to JPY106.4bn, while advertising expenses decreased by 9.7% YoY.

Usen-Next Holdings Co Ltd (9418 JP): Q1 FY08/25 flash update

Japan

USEN-NEXT HOLDINGS Co.,Ltd. provides network information services. The Company provides video contents distribution, music contents distribution, and other services. USEN-NEXT HOLDINGS also provides internet agency, mobile communication, and other services.

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Usen-Next Holdings Co Ltd (9418 JP)