In today’s briefing:
- Keyence (6861 JP): A Beneficiary of Rising Interest Rates
- Kokuyo Co Ltd (7984 JP): Q1 FY12/25 flash update
Keyence (6861 JP): A Beneficiary of Rising Interest Rates
- Keyence stands to benefit from a rising return on its large holdings of cash and securities, which are also available for investment and higher dividends.
- The company’s engineering-service business model should keep gross and operating margins high while it continues to expand overseas.
- Projected valuations at the low end of their 5-year ranges. Recession and abrupt appreciation of the yen are the primary risks.
Kokuyo Co Ltd (7984 JP): Q1 FY12/25 flash update
- Revenue increased by 3.5% YoY to JPY99.5bn, driven by demand in the Furniture business for office relocations.
- Operating profit rose by 14.4% YoY to JPY13.5bn, with a 1.6pp increase in GPM due to price revisions.
- Net income attributable to owners of the parent decreased by 16.4% YoY, despite increases in operating and recurring profits.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
