In today’s briefing:
- Toshiba – Earnings Preview 1QFY24
- Nihon M&A: Earnings Miss, No Indication of a Business Turnaround Yet
- R R Kabel Pre-IPO – Strong Earnings Growth but Competition Seems Stiff
Toshiba – Earnings Preview 1QFY24
- Toshiba announced on Friday that JIP’s upcoming tender offer would not make the July end deadline.
- At this point delays for Toshiba are par for the course and we do not think anything needs to be read into this.
- With earnings coming up next week we examine the likely trends and the possibility of a revision to guidance.
Nihon M&A: Earnings Miss, No Indication of a Business Turnaround Yet
- Nihon M&A reported 1QFY03/2024 results on Friday. Both revenue and OP decreased 9.1% and 52.5% YoY to ¥8.2bn (vs consensus ¥9.8bn) and ¥1.7bn (vs consensus ¥3.6bn) respectively.
- M&A sales decreased yet again in 1Q as the company is struggling to improve revenue per transaction despite there being an increase in the no. of transactions.
- We think the company may not be able to achieve full-year target given declining per transaction revenues and falling other businesses.
R R Kabel Pre-IPO – Strong Earnings Growth but Competition Seems Stiff
- R R Kabel (2333180Z IN) is looking to raise about US$200m in its upcoming India IPO.
- R R Kabel is an Indian consumer electrical company, which primarily sells wires, cables and fast moving electrical goods (FMEG).
- R R Kabel registered strong earnings growth on the back of growth in the volume of wires and cables sold. However, the lack of commodity hedging affected the firm’s margins.
💡 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
