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>In 1H FY02/26, revenue was JPY14.7bn (-1.1% YoY), with operating profit at JPY4.1bn (-17.2% YoY).</li><li>BDS sales revenue rose 2.6% YoY to JPY9.6bn, with cloud services revenue growing 25.6% YoY.</li><li>Data Empowerment business revenue increased 1.8% YoY to JPY5.1bn, with cloud services up 40.2% YoY.</li></ul>

In 1H FY02/26, revenue was JPY14.7bn (-1.1% YoY), with operating profit at JPY4.1bn (-17.2% YoY).BDS sales revenue rose 2.6% YoY to JPY9.6bn, with cloud services revenue growing 25.6% YoY.Data Empowerment business revenue increased 1.8% YoY to JPY5.1bn, with cloud services up 40.2% YoY.

WingArc1st Inc (4432 JP): 1H FY02/26 flash update

<ul><li>FY02/26 revenue was JPY7.3bn (+2.7% YoY), with operating profit at JPY2.1bn (-13.1% YoY) and EBITDA JPY2.5bn (-10.6% YoY).</li><li>Q1 FY02/26 BDS sales revenue rose 3.1% YoY to JPY4.8bn, while DE business revenue increased 2.1% YoY to JPY2.5bn.</li><li>WingArc1st revised FY02/26 forecast projects revenue of JPY31.2bn (+8.7% YoY) and operating profit of JPY9.0bn (+8.9% YoY).</li></ul>

FY02/26 revenue was JPY7.3bn (+2.7% YoY), with operating profit at JPY2.1bn (-13.1% YoY) and EBITDA JPY2.5bn (-10.6% YoY).Q1 FY02/26 BDS sales revenue rose 3.1% YoY to JPY4.8bn, while DE business revenue increased 2.1% YoY to JPY2.5bn.WingArc1st revised FY02/26 forecast projects revenue of JPY31.2bn (+8.7% YoY) and operating profit of JPY9.0bn (+8.9% YoY).

WingArc1st Inc (4432 JP): Q1 FY02/26 flash update

<ul><li>In FY02/25, revenue was JPY28.7bn (+11.5% YoY), operating profit JPY8.2bn (+12.4% YoY), and EBITDA JPY9.7bn (+12.2% YoY).</li><li>BDS sales revenue rose 13.7% YoY to JPY18.8bn, with cloud services revenue growing 18.8% YoY.</li><li>For FY02/26, the company forecasts revenue of JPY30.3bn (+5.5% YoY) and operating profit of JPY8.9bn (+8.3% YoY).</li></ul>

In FY02/25, revenue was JPY28.7bn (+11.5% YoY), operating profit JPY8.2bn (+12.4% YoY), and EBITDA JPY9.7bn (+12.2% YoY).BDS sales revenue rose 13.7% YoY to JPY18.8bn, with cloud services revenue growing 18.8% YoY.For FY02/26, the company forecasts revenue of JPY30.3bn (+5.5% YoY) and operating profit of JPY8.9bn (+8.3% YoY).

WingArc1st Inc (4432 JP): Full-year FY02/25 flash update

<ul><li>Revenue for cumulative Q3 FY02/25 was JPY21.6bn, operating profit JPY6.5bn, net income JPY4.7bn, EBITDA JPY7.6bn.</li><li>BDS sales revenue rose 12.7% YoY to JPY14.2bn, with cloud services growing 17.3% YoY, invoiceAgent JPY1.7bn.</li><li>Full-year FY02/25 forecast revised to revenue JPY28.5bn, operating profit JPY8.1bn, EBITDA JPY9.6bn, profit JPY5.9bn.</li></ul>

Revenue for cumulative Q3 FY02/25 was JPY21.6bn, operating profit JPY6.5bn, net income JPY4.7bn, EBITDA JPY7.6bn.BDS sales revenue rose 12.7% YoY to JPY14.2bn, with cloud services growing 17.3% YoY, invoiceAgent JPY1.7bn.Full-year FY02/25 forecast revised to revenue JPY28.5bn, operating profit JPY8.1bn, EBITDA JPY9.6bn, profit JPY5.9bn.

WingArc1st Inc (4432 JP): Q3 FY02/25 flash update

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/uzabase-inc" target="_blank" data-smartkarma-citation="entities:27798:1" rel="noopener">Uzabase Inc (3966 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/carlyle-group-inc" target="_blank" data-smartkarma-citation="entities:33402:1" rel="noopener">Carlyle Group Inc (CG US)</a>’s tender offer of JPY1,500 per share, a 72.2% premium to the undisturbed price (9 November).</li>
<li>The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the offer has been set to meet the 66.67% ownership ratio.</li>
<li>The offer is reasonable. The offer ends on 22 December. Tendering shares represent a 27.94% ownership ratio. At the last close, the gross spread to the offer is 46.9%.</li>
</ul>



Uzabase Inc (3966 JP) has recommended Carlyle Group Inc (CG US)’s tender offer of JPY1,500 per share, a 72.2% premium to the undisturbed price (9 November).
The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the offer has been set to meet the 66.67% ownership ratio.
The offer is reasonable. The offer ends on 22 December. Tendering shares represent a 27.94% ownership ratio. At the last close, the gross spread to the offer is 46.9%.


Uzabase’s (3966 JP) JPY1,500 Tender Offer from Carlyle

Japan

WingArc1st Inc. offers technology services. The Company provides data enpowerment, software development, software sales, and other services. WingArc1st offers its services throughout Japan.

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WingArc1st Inc (4432 JP)