In today’s briefing:
- Japan Elevator Service Holdings (6544) – Going up to Reach New Heights
- ECM Weekly (2nd July 2023) – Tryt, J&T Express, Redox, Kelun, 4Paradigm, SIA, M&A Research, Walsin
Japan Elevator Service Holdings (6544) – Going up to Reach New Heights
A successful market disruptor – Japan Elevator Service (JES) has been executing its growth strategy, increasing market share in the domestic elevator maintenance market via organic and acquisitive growth.
Operating in a market dominated by OEMs, it is making solid headway by 1) offering a cost-effective solution, 2) a differentiated service offering technical services and availability of parts on par with the OEMs, and 3) experiencing rapid growth through by establishing a nationwide network providing regionally rooted services.
Pursuing growth opportunities – we highlight two drivers for the company; 1) secular growth as building owners convert to reputable independent providers for cost management, and 2) structural demand from aging elevators requiring modernization.
ECM Weekly (2nd July 2023) – Tryt, J&T Express, Redox, Kelun, 4Paradigm, SIA, M&A Research, Walsin
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, Tryt Inc (9164 JP) will announce its price range in the coming week, while Kelun Biotech tries to break the US$100m+ deal silence in HK.
- On the placement front, even Singapore joined in the placement action this week, with only HK deal remaining absent over the past month.
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