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

Vision Inc/Tokyo Japan / Equity Bottom-Up

<ul><li>Vision reported record high sales of JPY28.9bn and net income of JPY3.2bn, with a 10.7% YoY increase.</li><li>Vision's FY12/25 year-end dividend forecast increased by JPY5 to JPY30 per share, totaling JPY50 annually.</li><li>Segment sales in Glamping and Tourism rose 45.8% YoY, with profits increasing 47.8% YoY, reaching record highs.</li></ul>

Vision reported record high sales of JPY28.9bn and net income of JPY3.2bn, with a 10.7% YoY increase.Vision's FY12/25 year-end dividend forecast increased by JPY5 to JPY30 per share, totaling JPY50 annually.Segment sales in Glamping and Tourism rose 45.8% YoY, with profits increasing 47.8% YoY, reaching record highs.

Vision Inc/Tokyo Japan (9416 JP): Q3 FY12/25 flash update

<ul><li>Vision's Q1 FY12/25 sales increased 7.6% YoY to JPY9.2bn, but operating profit declined 1.5% YoY.</li><li>Global WiFi business sales rose 5.0% YoY, with strong inbound demand; profit declined due to active investment.</li><li>Glamping and Tourism business sales grew 39.7% YoY, with segment profit increasing 2.9% YoY amid rising foreign guest stays.</li></ul>

Vision's Q1 FY12/25 sales increased 7.6% YoY to JPY9.2bn, but operating profit declined 1.5% YoY.Global WiFi business sales rose 5.0% YoY, with strong inbound demand; profit declined due to active investment.Glamping and Tourism business sales grew 39.7% YoY, with segment profit increasing 2.9% YoY amid rising foreign guest stays.

Vision Inc/Tokyo Japan (9416 JP): Q1 FY12/25 flash update

<ul><li>Vision reported FY12/24 sales of JPY35.5bn (+11.7% YoY) and net income attributable to owners of JPY3.4bn (+11.6% YoY).</li><li>For FY12/25, Vision forecasts sales of JPY40.0bn (+12.6% YoY) and net income attributable to owners of JPY4.4bn (+29.8% YoY).</li><li>Vision's medium-term plan targets FY12/28 sales of JPY63.4bn (+78.4% from FY12/24) and net income of JPY6.8bn (+101.4%).</li></ul>

Vision reported FY12/24 sales of JPY35.5bn (+11.7% YoY) and net income attributable to owners of JPY3.4bn (+11.6% YoY).For FY12/25, Vision forecasts sales of JPY40.0bn (+12.6% YoY) and net income attributable to owners of JPY4.4bn (+29.8% YoY).Vision's medium-term plan targets FY12/28 sales of JPY63.4bn (+78.4% from FY12/24) and net income of JPY6.8bn (+101.4%).

Full-year FY12/24 flash update, revisions to long-term vision and medium-term management plan

<ul><li>Vision reported record highs in cumulative Q3 FY12/24 sales at JPY26.1bn (+9.0% YoY) and operating profit at JPY4.3bn (+16.1% YoY).</li><li>The Global WiFi business saw a 4.4% YoY sales increase, with segment profit rising 9.4% YoY, excluding COVID-related services.</li><li>Vision's Information and Communications Service business external sales grew 15.8% YoY, with segment profit increasing 37.8% YoY.</li></ul>

Vision reported record highs in cumulative Q3 FY12/24 sales at JPY26.1bn (+9.0% YoY) and operating profit at JPY4.3bn (+16.1% YoY).The Global WiFi business saw a 4.4% YoY sales increase, with segment profit rising 9.4% YoY, excluding COVID-related services.Vision's Information and Communications Service business external sales grew 15.8% YoY, with segment profit increasing 37.8% YoY.

Vision Inc/Tokyo Japan (9416 JP): Q3 FY12/24 flash update

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

TSE Tokyo Price Index TOPIX / Technical Analysis

<p>Our outlook for ex-U.S. markets (MSCI ACWI ex-U.S. index, local currency) remains neutral - bordering on cautious. Our concern stems from the recent pattern of lower highs and continued underperformance relative to MSCI ACWI - remain underweight.  Two bright spots: we are seeing bullish inflections in Japan (TOPIX and Nikkei 225), and India's SENSEX.  We unpack these, and also highlight actionable set ups in our global Communications, and Transportation Sectors.</p>

Our outlook for ex-U.S. markets (MSCI ACWI ex-U.S. index, local currency) remains neutral - bordering on cautious. Our concern stems from the recent pattern of lower highs and continued underperformance relative to MSCI ACWI - remain underweight.  Two bright spots: we are seeing bullish inflections in Japan (TOPIX and Nikkei 225), and India's SENSEX.  We unpack these, and also highlight actionable set ups in our global Communications, and Transportation Sectors.

Global Equity Strategy: Opportunities in Japan and India

Japan

Vision Inc. provides a variety of telecommunication services, including fixed-line telecom, wireless telecom and wifi services. The company also provides distribution and lease service of office equipments and communications equipments.

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Vision Inc/Tokyo Japan (9416 JP)