Daily Brief Health Care: Pine Care Group, Classys, Tokyo Stock Exchange Tokyo Price Index Topix and more

In today’s briefing:

Pine Care Group – Another MGO, Still Wrong Price Making One Wonder…
Classys (214150 KS): Overseas Expansion +Portfolio Enlargement = Consistent & Sustainable Growth
Women Founders Should Be Supported Rather than Goals that Are Less Feasible for Achieving Diversity

Pine Care Group – Another MGO, Still Wrong Price Making One Wonder…

In early Feb2020, the #1 shareholder of HK-based elderly home care provider Pine Care Group (1989 HK) sold a 52% stake at HK$1.647, keeping 14.99%. That triggered an Unconditional MGO.
In Aug2022, much of the shareholder consortium which bought in 2020 agreed to sell 56.15% at HK$0.89/share to local privately-held developer Chinachem. That will trigger another Unconditional MGO.
The business has suffered under covid, but it is not clear why the business would be better now. Revenues will spike when Causeway Bay opens, but…. Sell.

Classys (214150 KS), under new management, has announced a treasury stock acquisition program of KRW20 billion through March 2023. As of June 2022, Classys had cash equivalents of KRW68 billion.
Global expansion of Classys’ latest lifting product, Shrink Universe is the near-term growth driver. The product is seeing steady domestic demand, with cumulative sales exceeding 1,000 units.
In August Classys received approval for its new skin care product Volnewmer. The company is expected to start selling Volnewmer in Q3 and initially targeting 100 units for the device.

If we want to increase women directors even to growth market companies, we can solve this problem by extending the scope of this comply-or-explain requirement to growth market companies.
It is a fact that companies with top female executives have more women on their boards of directors. It’s required to create support to increase the number of women founders.
Rather than setting targets for the ratio of female managers, which are vague and unworkable, a framework should be created to support female founders.

💡 Before it’s here, it’s on Smartkarma

The Smartkarma Preview Pass is your entry to the Independent Investment Research Network