Category

Daily Briefs

Daily Brief Consumer: Lalatech Holdings Co Ltd, Ferrari N.V., EbixCash, Genting Bhd, RCI Hospitality Holdings, Freakins, Organto Foods and more

By | Consumer, Daily Briefs

In today’s briefing:

  • Lalatech IPO: The Bull Case
  • Quiddity Leaderboard ES50 Sep 23: Massive Flows; Might Be Time for LONG Ferrari – SHORT Vonovia
  • EbixCash IPO: The Bear Case
  • Genting Berhad – Event Flash – Resorts World Las Vegas To Issue USD 300 Mn 7Y Notes – Lucror Analytics
  • RCI Hospitality Holdings, Inc. – Revenues Meet Expectations
  • Freakins Raises $4m Seed Round to Grow Denim Brand
  • OGO: Premium Brand Launch Supports Margin Expansion


Lalatech IPO: The Bull Case

By Arun George

  • Lalatech Holdings Co Ltd (LALA HK), a leading logistics transaction platform, has filed for an HKEx IPO to raise US$1 billion, according to press reports.   
  • Lalatech is the largest logistics transaction platform in the world by closed-loop freight gross transaction value in the first half of 2022, according to Frost & Sullivan. 
  • The key elements of the bull case rest on solid growth, rising monetization rates, achieving maiden profitability, a shift to cash generation and a debt-free balance sheet.

Quiddity Leaderboard ES50 Sep 23: Massive Flows; Might Be Time for LONG Ferrari – SHORT Vonovia

By Janaghan Jeyakumar, CFA

  • The ES50 Index is one of the most highly-tracked indices in mainland Europe and the annual index review takes place in September.
  • As ES50 index changes generally involve large cap names, these Rebalance events have historically had significant volume and ADV impact.
  • In this insight, we take a look the names leading the race to become ADDs/DELs for the upcoming index review in September 2023.

EbixCash IPO: The Bear Case

By Arun George

  • EbixCash (EBIXC IN), a subsidiary of Ebix Inc (EBIX US) and India’s largest end-to-end financial exchange, is seeking to launch an Rs60 billion (US$730 million) in July. 
  • In EbixCash IPO: The Bull Case, we highlighted the key elements of the bull case. In this note, we outline the bear case.
  • The key elements of the bear case rest on margin pressure due to rising operating costs, a related party being the largest customer, declining revenue visibility and deteriorating cash generation.

Genting Berhad – Event Flash – Resorts World Las Vegas To Issue USD 300 Mn 7Y Notes – Lucror Analytics

By Leonard Law, CFA

Genting Berhad’s subsidiary, Resorts World Las Vegas LLC (RWLV), is holding roadshows to market an issuance of USD 300 mn Reg-S/144A 7-year senior unsecured notes. The notes are rated BB+/BBB- by S&P and Fitch, respectively. The new notes will rank pari passu with the existing USD 1.35 bn of RWLVCA notes.

Proceeds from the notes issuance will be used to refinance a USD 300 mn subordinated shareholder loan from Genting Assets Inc. Hence, the transaction will be leverage neutral.

We see fair value for the proposed RWLVCA 2030 notes at c. 8.5%, as we expect the bonds to price in line with the existing curve. That said, there could be strong demand for the notes, given the small issuance size and dearth of issuance in the Asia crossover space so far this year.


RCI Hospitality Holdings, Inc. – Revenues Meet Expectations

By Water Tower Research

  • Multiple Catalysts on the Horizon. Total revenues were essentially in line with our forecast, and we see an attractive runway for growth with at least 10 new locations contributing to revenues through FY24: (1) 4Q23: First full quarter of another Baby Dolls, the reopening of a closed club, and the opening of a new Bombshells, all in Texas; (2) FY24: Opening of two new clubs in Texas, three new Bombshells in Texas and Colorado, and two casinos in Central City, CO. Potential club M&A activity could provide additional upside.

  • Potential club M&A activity could provide additional upside.

  • Nightclubs + Bombshells’ sales increased 8.9% Y/Y. On July 11, RCI announced its preliminary revenues for nightclubs and Bombshells.


Freakins Raises $4m Seed Round to Grow Denim Brand

By Tech in Asia

  • India-based fashion brand Freakins has bagged US$4 million in its seed round led by Matrix Partners India and Blume Ventures.
  • Founded in 2021 by Shaan Shah and Puneet Sehgal, Freakins is a direct-to-consumer clothing brand that specializes in denim.
  • The Gen Z-focused firm has built up a catalog of over 1,500 styles, which it says caters to different body types.

OGO: Premium Brand Launch Supports Margin Expansion

By Atrium Research

  • Organto announced the launch of ORO, a brand focused on premium non-GMO fruits and vegetables.
  • This morning, Organto Foods (OGO:TSXV) announced the introduction of its latest innovative brand offering, ORO.
  • ORO focuses on premium non-GMO fruits and vegetables, complimenting the I AM Organic brand (organic fruits and vegetables) and =Awesome Fruits (mid-tier non-GMO fruits).

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Most Read: Liontown Resources, SK Telecom, Takisawa Machine Tool, Neuren Pharmaceuticals, Samsung Electronics Pref Shares, Keisei Electric Railway Co, Data#3 Ltd, Shenzhen International, Ventia and more

By | Daily Briefs, Most Read

In today’s briefing:

  • S&P/​​​​​​​​ASX Index Rebalance Preview: Potential Changes in September
  • SK Telecom (017670 KS): Foreign Room Increase Has Implications
  • Nidec (6594) Goes Hostile On Takisawa Machine Tool (6121) – I’ve Got 🍿🍿
  • Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY
  • Gap Trades in Korean Prefs Vs Common Share Pairs in 3Q 2023
  • Keisei Electric: Valuation Distortion Set to Unravel with Fantasy Springs’ Opening in Spring 2024
  • S&P/ASX200 Ad Hoc Index Rebalance & Update to Potential Changes in September
  • StubWorld: SZ International’s Logistics Spin-Offs
  • Ventia Services (VNT) Selected to Join ASX 200 – Not A Surprise
  • Ohayo Japan | Bullish Banks, Ai , US Consumer; NUGGET: Isuzu(7202) – EV Outlook Better for Trucks


S&P/​​​​​​​​ASX Index Rebalance Preview: Potential Changes in September

By Brian Freitas

  • We forecast 22 changes across the ASX50 Index, ASX100 Index, S&P/ASX 200 (AS51 INDEX) and ASX300 Index at the September rebalance.
  • Some of the changes are high probability while others are close to cutoffs. The impact of passive trading will be pretty large on a lot of stocks.
  • Short interest on the potential deletes indicates some pre-positioning but there should still be a fair bit more to do.

SK Telecom (017670 KS): Foreign Room Increase Has Implications

By Brian Freitas


Nidec (6594) Goes Hostile On Takisawa Machine Tool (6121) – I’ve Got 🍿🍿

By Travis Lundy

  • Last year Nidec Corp (6594 JP) approached machine tool maker Takisawa Machine Tool (6121 JP) interested in an integration with their sub. Takisawa said “Talk to the hand.” 
  • Now Nidec – a blue chip (from Kyoto no less, which traditionally abhors hostile activity) – has gone hostile on Takisawa bidding 65-100% depending how you see undisturbed.
  • Lots of moving parts on this one, but in the end, Retail probably decides this.

Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

By Brian Freitas


Gap Trades in Korean Prefs Vs Common Share Pairs in 3Q 2023

By Douglas Kim

  • In this insight, we discuss numerous gap trades involving Korean preferred and common shares in 3Q 2023. 
  • The excessive gaps in the preferred and common shares of Kumho Petrochem, LG Electronics, and Samsung Electronics could reverse in the next several months, in our view.
  • We see some attractive longer-term opportunities for Amorepacific Corp, Doosan Fuelcell, LG Electronics, and Samsung Electro-Mechanics which have especially high discounts for the preferred shares versus their counterpart common shares. 

Keisei Electric: Valuation Distortion Set to Unravel with Fantasy Springs’ Opening in Spring 2024

By Oshadhi Kumarasiri

  • Since the announcement of the proposed Tokyo Disney Sea expansion in 2015, Keisei Electric Railway Co (9009 JP)‘s price perfromance has significantly diverged from Oriental Land (4661 JP)‘s price performance.
  • The valuation disparity may result from the Disney Sea expansion’s impact, possibly due to Keisei Electric’s value-oriented investor base.
  • Fantasy Springs’ opening could resolve the valuation distortion, leading to potential rewards in a Long Keisei Electric and Short Oriental Land trade.

S&P/ASX200 Ad Hoc Index Rebalance & Update to Potential Changes in September

By Brian Freitas


StubWorld: SZ International’s Logistics Spin-Offs

By David Blennerhassett

  • Shenzhen International (152 HK) seeks to spin off logistic assets on a PRC exchange; and  51.56%-held Shenzhen Expressway Co H (548 HK) intends to place out A shares.
  • Preceding my comments on SZ Int’l/SZ E’Way are the current setup/unwind tables for Asia-Pacific Holdcos.
  • These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.

Ventia Services (VNT) Selected to Join ASX 200 – Not A Surprise

By Travis Lundy

  • After the Blackmores Ltd (BKL AU) Scheme Meeting result was announced earlier today, post-close the S&P/ASX team announced Ventia (VNT AU) would replace it on 21 July at the close.
  • This is not that surprising. Janaghan Jeyakumar, CFA expected it in June, and it was a super-close second recently for him for the Sep rebalance. 
  • Given the shareholder structure and flow dynamics, it’s worth taking a closer look.

Ohayo Japan | Bullish Banks, Ai , US Consumer; NUGGET: Isuzu(7202) – EV Outlook Better for Trucks

By Mark Chadwick

  • OVERSEAS. SPX new 52W highs on Bank earnings, AI (thx to MSFT), and Resilient Retail print; MSFT prices Copilot at high end; US bank CEOs showing optimism.
  • JAPAN. NKY Futures +0.8% vs Cash; USDJPY 138.8; Look for continued follow through in Japan equity bid; Bank bid thematic gaining more traction on BOJ tweak view;   Kishida cabinet reshuffle?
  • NUGGET. Isuzu(7202) – Big EV Spending but Still looks Cheap at 1x PBR. A 15% FY3/26 ROE as per mid term plan makes this look interesting for LT investors here.

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Daily Brief Australia: Respiri Ltd and more

By | Australia, Daily Briefs

In today’s briefing:

  • Respiri – wheezo to access a larger addressable market


Respiri – wheezo to access a larger addressable market

By Edison Investment Research

Respiri has announced a three-year distribution and marketing agreement (non-exclusive) with Fi-Med Management, a US-based company providing healthcare support and management solutions to large healthcare organisations. Under this revenue-share arrangement, Respiri will receive $30 per patient per month for active patients enrolled as wheezo RPM users. Although the initial Fi-Med customer review suggests an immediate opportunity to address 5,000 patients, the collaboration is anticipated to enable Respiri to access a wider patient base. The development closely aligns with management’s strategic focus to expand into other indications and generate incremental top-line growth.


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Daily Brief United States: Truist Financial Corp, Bitcoin Pro, GlobalFoundries, Ameriprise Financial, Silver, Travelers Cos, Ocean Power Technologies, Exxon Mobil and more

By | Daily Briefs, United States

In today’s briefing:

  • Truist Financial Corporation: Initiation of Coverage – Business Strategy & Key Drivers
  • XRP Volume Surpasses BTC Following Landmark Ruling
  • GlobalFoundries Inc.: Initiation of Coverage – Increasing Manufacturing Capacity & Other Drivers
  • Ameriprise Financial Inc.: Initiation of Coverage – Independent Channel Expansion & Other Drivers
  • How Much Do Commodity Prices Rise when Fertilizer Prices Rise?
  • The Travelers Companies Inc.: Initiation of Coverage – Business Strategy & Other Drivers
  • Ocean Power Technologies, Inc. – 4Q23 Results: Net Loss Widens
  • Exxon Mobil: Investor Pessimism Is Creeping Up And This Is Good News For Long-Term Holders


Truist Financial Corporation: Initiation of Coverage – Business Strategy & Key Drivers

By Baptista Research

  • This is our first report on Truist Financial Corporation, one of the largest regional banks in the United States.
  • Truist opened 146,000 bank accounts online.
  • We initiate coverage on the stock of Truist Financial Corporation with a ‘Hold’ rating.

XRP Volume Surpasses BTC Following Landmark Ruling

By Kaiko

  • After years of waiting, Ripple finally got a ruling in their highly anticipated lawsuit with the SEC: the company did not violate federal securities law by selling its XRP token on public exchanges.
  • The market reaction was near instantaneous.
  • Since Thursday, XRP is up 61% and several exchanges that had previously de-listed the token, including Coinbase and Kraken, immediately re-listed it.

GlobalFoundries Inc.: Initiation of Coverage – Increasing Manufacturing Capacity & Other Drivers

By Baptista Research

  • This is our first report on GlobalFoundries Inc, a multinational semiconductor contract manufacturing and design company.
  • Despite these challenges, the company observed healthy demand in growing segments such as industrial IoT, aerospace, defense, and automotive markets.
  • Throughout the quarter, GlobalFoundries demonstrated its dedication to executing targets, delivering value to customers, and sustaining its position in the industry.

Ameriprise Financial Inc.: Initiation of Coverage – Independent Channel Expansion & Other Drivers

By Baptista Research

  • This is our first report on investment management behemoth, Ameriprise Financial.
  • Ameriprise had a great quarter, with revenues increased by 3% to $3.7 billion, driven by Advice & Wealth Management’s double-digit growth.
  • Additionally, Ameriprise experienced good growth in its educational loan business as well as great growth in its certificate business.

How Much Do Commodity Prices Rise when Fertilizer Prices Rise?

By The Commodity Report

  • Global crop production growth will mainly be driven by continued progress in plant breeding and a transition to more intensive production systems.
  • Yield improvements are projected to account for 79% of global crop production growth, cropland expansion for 15%, and higher cropping intensity for 6% over the outlook period.
  • Global growth of sugar consumption will be driven entirely by Africa and Asia, with demand projected to surge in areas where the level of per capita intake is currently low.

The Travelers Companies Inc.: Initiation of Coverage – Business Strategy & Other Drivers

By Baptista Research

  • This is our first report on The Travelers Companies, a well-known property and casualty insurance provider.
  • The Travelers Companies kicked off the year on a high note, boasting impressive bottom-line results for the first quarter despite the surge of severe weather events across the United States.
  • The Business Insurance segment particularly stood out with its strong profitability and growth.

Ocean Power Technologies, Inc. – 4Q23 Results: Net Loss Widens

By Water Tower Research

  • Ocean Power Technologies reported 4Q23 revenue of $0.1 million, up 29.6% Y/Y from $0.8 million in 4Q22 driven by sales of WAM-V autonomous vehicles and an increase in strategic consulting services.

  • OPT completed a $0.5M extension of its lease contract to continue providing their WAM-V to a U.S. Government agency.

  • The company deployed the scalable MOSWEC PowerBuoy, as part of US DoE Phase II development project worth $1.1m.


Exxon Mobil: Investor Pessimism Is Creeping Up And This Is Good News For Long-Term Holders

By Vladimir Dimitrov, CFA

  • Exxon Mobil’s share price has come under pressure in recent months as investor sentiment shifts.
  • It is too early to consider this retracement as an attractive buying opportunity as short-term headwinds are to be expected.
  • Exxon’s management continues to make the right moves from a capital allocation point of view.

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Daily Brief Singapore: Needle and more

By | Daily Briefs, Singapore

In today’s briefing:

  • Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI


Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI

By Tech in Asia

  • Needle, an AI-powered marketing platform from Singapore, has raised US$1.2 million in its pre-seed round led by Iterative, with participation from Ethos Fund and Goldbell Financial Services. Angel investors, including Rainforest founder JJ Chai, also joined the round.
  • The fresh capital will be used to expand Needle’s team, consisting of data scientists, AI trainers, and engineers.
  • Needle helps ecommerce brands optimize their marketing activities. By analyzing data from various platforms, Needle provides personalized recommendations and automates campaign creation, helping firms reduce costs and improve return on investment.

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Daily Brief Indonesia: Eratani, eFishery and more

By | Daily Briefs, Indonesia

In today’s briefing:

  • Indonesian Agritech Startup Eratani Bags US$2M Seed Funding
  • eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025


Indonesian Agritech Startup Eratani Bags US$2M Seed Funding

By e27

  • Indonesia-based agritech firm Eratani has secured US$2 million in a seed extension round from SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels.
  • This deal brings the total seed funding to US$5.8 million.
  • The new investment comes about half a year after Eratani raised US$3.8 million from TNB Aura, Trihill Capital, BIG Ventures, and AgFunder.

eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025

By e27

  • Indonesia’s aquaculture company eFishery has raised US$200 million in its Series D funding round led by Abu Dhabi-based global fund manager 42XFund.
  • Malaysian public sector pension fund, Kumpulan Wang Persaraan (KWAP), Switzerland-based asset manager responsAbility, 500 Global, Northstar, Temasek, and SoftBank also joined.
  • The funds will be used to expand the eFishery farming community, targeting to engage over 1 million aquaculture ponds in Indonesia by 2025 and increasing the transactions of fish feed and fresh fish on the platform.

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Daily Brief ESG: Isn’t Long-Term Human Resource Strategy More Necessary than Immediate Solution to Labor Shortage? and more

By | Daily Briefs, ESG

In today’s briefing:

  • Isn’t Long-Term Human Resource Strategy More Necessary than Immediate Solution to Labor Shortage?


Isn’t Long-Term Human Resource Strategy More Necessary than Immediate Solution to Labor Shortage?

By Aki Matsumoto

  • The policy of extending retirement age to 65 is a measure to solve the immediate labor shortage, but it may lack the perspective of a mid-to-long-term human resource utilization strategy.
  • Since most employees in their 60s are male employees, this may slow down the fading of the traditionally male-centric corporate culture. A more diverse workforce is required.
  • Although seniors are still a promising market based on demographic composition, from the perspective of creating new value, it’s necessary to have more discussions about creating society that ensures diversity.

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Daily Brief Private Markets: Indonesian Agritech Startup Eratani Bags US$2M Seed Funding and more

By | Daily Briefs, Private Markets

In today’s briefing:

  • Indonesian Agritech Startup Eratani Bags US$2M Seed Funding
  • Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain
  • eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025
  • Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI


Indonesian Agritech Startup Eratani Bags US$2M Seed Funding

By e27

  • Indonesia-based agritech firm Eratani has secured US$2 million in a seed extension round from SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels.
  • This deal brings the total seed funding to US$5.8 million.
  • The new investment comes about half a year after Eratani raised US$3.8 million from TNB Aura, Trihill Capital, BIG Ventures, and AgFunder.

Dubai-Based Kaso Raises $10.5m to Optimize Food Supply Chain

By Tech in Asia

  • Kaso, which bills itself as the largest B2B ordering platform for restaurants and suppliers in the Middle East, has raised US$10.5 million in a seed round to fuel its mission of disrupting the food supply chain.
  • Founded in 2021, the Dubai-based firm currently has 5,000 partners in Saudi Arabia and the United Arab Emirates. Its platform streamlines the fulfillment process for restaurants and suppliers, enhancing efficiency and transparency as well as combating food waste.
  • The company estimates that food waste in the Middle East and North Africa (MENA) region amounts to around 250 kilograms per capita per year.

eFishery Banks US$200M, Targets to Engage 1M+ Aquaculture Ponds by 2025

By e27

  • Indonesia’s aquaculture company eFishery has raised US$200 million in its Series D funding round led by Abu Dhabi-based global fund manager 42XFund.
  • Malaysian public sector pension fund, Kumpulan Wang Persaraan (KWAP), Switzerland-based asset manager responsAbility, 500 Global, Northstar, Temasek, and SoftBank also joined.
  • The funds will be used to expand the eFishery farming community, targeting to engage over 1 million aquaculture ponds in Indonesia by 2025 and increasing the transactions of fish feed and fresh fish on the platform.

Needle Raises $1.2m to Help Optimize Ecommerce Marketing with AI

By Tech in Asia

  • Needle, an AI-powered marketing platform from Singapore, has raised US$1.2 million in its pre-seed round led by Iterative, with participation from Ethos Fund and Goldbell Financial Services. Angel investors, including Rainforest founder JJ Chai, also joined the round.
  • The fresh capital will be used to expand Needle’s team, consisting of data scientists, AI trainers, and engineers.
  • Needle helps ecommerce brands optimize their marketing activities. By analyzing data from various platforms, Needle provides personalized recommendations and automates campaign creation, helping firms reduce costs and improve return on investment.

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Daily Brief Japan: Takisawa Machine Tool, Keisei Electric Railway Co, Tokyo Stock Exchange Tokyo Price Index Topix, Hisamitsu Pharmaceutical Co, Mitsubishi UFJ Financial (MUFG) ADR and more

By | Daily Briefs, Japan

In today’s briefing:

  • Nidec (6594) Goes Hostile On Takisawa Machine Tool (6121) – I’ve Got 🍿🍿
  • Keisei Electric: Valuation Distortion Set to Unravel with Fantasy Springs’ Opening in Spring 2024
  • Isn’t Long-Term Human Resource Strategy More Necessary than Immediate Solution to Labor Shortage?
  • Hisamitsu Pharmaceutical (4530 JP): Strong Result, New Drug Launch, & Share Buyback Brighten Outlook
  • Mitsubishi UFJ Financial Group Inc.: Initiation of Coverage – Recent Acquisitions & Other Drivers


Nidec (6594) Goes Hostile On Takisawa Machine Tool (6121) – I’ve Got 🍿🍿

By Travis Lundy

  • Last year Nidec Corp (6594 JP) approached machine tool maker Takisawa Machine Tool (6121 JP) interested in an integration with their sub. Takisawa said “Talk to the hand.” 
  • Now Nidec – a blue chip (from Kyoto no less, which traditionally abhors hostile activity) – has gone hostile on Takisawa bidding 65-100% depending how you see undisturbed.
  • Lots of moving parts on this one, but in the end, Retail probably decides this.

Keisei Electric: Valuation Distortion Set to Unravel with Fantasy Springs’ Opening in Spring 2024

By Oshadhi Kumarasiri

  • Since the announcement of the proposed Tokyo Disney Sea expansion in 2015, Keisei Electric Railway Co (9009 JP)‘s price perfromance has significantly diverged from Oriental Land (4661 JP)‘s price performance.
  • The valuation disparity may result from the Disney Sea expansion’s impact, possibly due to Keisei Electric’s value-oriented investor base.
  • Fantasy Springs’ opening could resolve the valuation distortion, leading to potential rewards in a Long Keisei Electric and Short Oriental Land trade.

Isn’t Long-Term Human Resource Strategy More Necessary than Immediate Solution to Labor Shortage?

By Aki Matsumoto

  • The policy of extending retirement age to 65 is a measure to solve the immediate labor shortage, but it may lack the perspective of a mid-to-long-term human resource utilization strategy.
  • Since most employees in their 60s are male employees, this may slow down the fading of the traditionally male-centric corporate culture. A more diverse workforce is required.
  • Although seniors are still a promising market based on demographic composition, from the perspective of creating new value, it’s necessary to have more discussions about creating society that ensures diversity.

Hisamitsu Pharmaceutical (4530 JP): Strong Result, New Drug Launch, & Share Buyback Brighten Outlook

By Tina Banerjee

  • Hisamitsu Pharmaceutical Co (4530 JP) announced strong Q1FY24 result, with double-digit top-line and triple-digit bottom-line growth, driven by its largest selling OTC product, Salonpas. The company has reiterated FY24 guidance.
  • In Q1FY24, Hisamitsu has launched Apohide Lotion in Japan for the treatment of primary palmar hyperhidrosis and Xelstrym transdermal system in the U.S. for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD).
  • Hisamitsu has announced buyback of up to 2M of its shares (representing 2.57% of issued shares) from July 2023 to February 2024 for ¥10B.

Mitsubishi UFJ Financial Group Inc.: Initiation of Coverage – Recent Acquisitions & Other Drivers

By Baptista Research

  • This is our first report on one of the largest banking and financial partners, Mitsubishi UFJ Financial Group.
  • The company plans to utilize its group-wide customer base, including Asian partner banks and Morgan Stanley, to navigate the final year of the current Medium-Term Business Plan (MTBP).
  • We initiate coverage on the stock of Mitsubishi UFJ Financial Group, Inc. with a ‘Hold’ rating.

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Daily Brief Crypto: XRP Volume Surpasses BTC Following Landmark Ruling and more

By | Crypto, Daily Briefs

In today’s briefing:

  • XRP Volume Surpasses BTC Following Landmark Ruling


XRP Volume Surpasses BTC Following Landmark Ruling

By Kaiko

  • After years of waiting, Ripple finally got a ruling in their highly anticipated lawsuit with the SEC: the company did not violate federal securities law by selling its XRP token on public exchanges.
  • The market reaction was near instantaneous.
  • Since Thursday, XRP is up 61% and several exchanges that had previously de-listed the token, including Coinbase and Kraken, immediately re-listed it.

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