Daily Brief Japan: Advantest Corp, Mandom Corp, FineToday Holdings Co Ltd, Japan System Techniques Co, Riberesute Corp, Tosei Corp, Create Sd Holdings Co, Cyberlinks, Globe-ing and more

• Advantest Corp (6857 JP)‘s weight in the Nikkei 225 (NKY INDEX) has crossed 10% and staying there will lead to capping at the March rebalance.
• A lot of Advantest Corp (6857 JP)‘s float is held by passive trackers, and the real float is much lower. The capping will increase that float significantly.
• Advantest Corp (6857 JP) has outperformed its peers significantly and trades at higher valuation metrics compared to its peers.

• Four weeks ago, CVC announced a family-led MBO of hair care and cosmetics company Mandom Corp (4917 JP) at a price which was decidedly too light, well below company plans.
• One activist wrote a letter clearly calling them out for accepting a low-ball price well below the Medium Term Management Plan target. Another bought a lot of shares. 
• On 25 September, Murakami-san and affiliates reported an 8.39% position. Seven trading days later it is 16.59% and the shares are up small from my last piece + 1. 

• FineToday Holdings Co Ltd (289A JP), a Japanese personal care business, is seeking to raise US$286 million. It previously pulled an IPO to raise US$500 million in December 2024.  
• FineToday has four product categories: Hair care, Skin care, Body care and others. Hair care is the largest category, accounting for 49.0% of 1H25 revenue.
• The investment case rests on top-tier revenue growth, top-quartile profitability, peer-leading FCF generation and manageable leverage. 

• Japan System Techniques Co., Ltd. (hereafter, JAST or the Company) is a fully independent system integrator.
• The Company’s business portfolio consists of the DX&SI business, the Package business, the Medical Big Data business and the Global business.
• In recent years, the Company has seen an increase in prime contract development projects, and for the current fiscal year it expects net sales to rise for the 15th consecutive year and operating profit to reach a record high for the 11th straight year.

Key points (machine generated)

• Syla Holdings is formed from the merger of Kumika Co., Ltd. and Syla Technologies Co., Ltd.
• The company will operate under a new name after its stock exchange merger on June 1, 2025.
• Starting in fiscal year ending May 2026, Syla Holdings will segment its operations into real estate, management, construction, and renewable energy.

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• Revenue reached JPY84.0bn, achieving 85.6% of the full-year forecast, with a 20.9% YoY increase.
• Operating profit for the Fund and Consulting segment rose 42.8% YoY, with OPM improving 5.6pp to 63.9%.
• The company acquired 34 buildings and 70 pre-owned condominium units, while selling 32 renovated whole-building properties.

• Revenue increased by 6.7% YoY to JPY121.6bn, with gross profit rising 5.7% YoY to JPY30.7bn.
• Operating profit grew 6.6% YoY to JPY5.6bn, while recurring profit increased 8.0% YoY to JPY5.9bn.
• The company expanded its network by acquiring Sunefu Co., Ltd., adding nine dedicated dispensing pharmacies.

Key points (machine generated)

• Cyberlinks reported record financial results for the interim period ending December 2025, with sales of 8,849 million yen, an 11.5% increase from the previous year.
• Regular income rose by 7.6% to 4,250 million yen, while operating profit surged by 74.6% to 990 million yen.
• Interim net profit attributable to parent company shareholders increased by 101.9% to 673 million yen, supporting the company’s medium-term management plan.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Key points (machine generated)

• Globe-ing Inc. reported a 97.7% revenue increase to ¥8,255 million for FY5/25, driven by demand for digital transformation and AI in consulting.
• For FY5/26, the company projects a 40% revenue increase to ¥11,555 million and a 26.4% rise in operating profit, supported by strategic hiring and AI productivity improvements.
• The company’s growth strategy focuses on developing AI agents for consulting tasks and promoting a ‘Dynamic Equilibrium management’ methodology for competitive advantage.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.