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

Shenton Research

Shenton 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 Jul 24th. The aggregated net margin trading position is USD27,589m.</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 Kioxia, Disco, Advantest, Mizuho Financial, Fast Retailing, Mitsubishi Heavy Industries, Tokyo Electron, Ferrotec, Dai-ichi Life, Nintendo.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 24th. The aggregated net margin trading position is USD27,589m.
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 Kioxia, Disco, Advantest, Mizuho Financial, Fast Retailing, Mitsubishi Heavy Industries, Tokyo Electron, Ferrotec, Dai-ichi Life, Nintendo.


JPX Margin Trading Weekly (Jul 24th): Kioxia, Disco, Advantest, Mizuho Financial, Fast Retailing

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jul 17th. The aggregated net margin trading position is USD28,293m.</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 Kioxia, SoftBank, Yaskawa Electric, Taiyo Yuden, Tokyo Electron, Mizuho Financial, Mitsubishi UFJ Financial, Advantest, Nintendo, Sumco.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jul 17th. The aggregated net margin trading position is USD28,293m.
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 Kioxia, SoftBank, Yaskawa Electric, Taiyo Yuden, Tokyo Electron, Mizuho Financial, Mitsubishi UFJ Financial, Advantest, Nintendo, Sumco.


JPX Margin Trading Weekly (Jul 17th): Kioxia, SoftBank, Yaskawa Electric, Taiyo Yuden, Advantest

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>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

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)

JPX Margin Trading Weekly (Jul 24th): Kioxia, Disco, Advantest, Mizuho Financial, Fast Retailing

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Disco (6146 JP), Advantest (6857 JP), Mizuho...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Jul 17th): Kioxia, SoftBank, Yaskawa Electric, Taiyo Yuden, Advantest

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), SoftBank (9984 JP), Yaskawa Electric (6506 JP),...

Ke Yan, CFA, FRM