Daily Brief Japan: KEIWA , Pasona Group, Medikit Co Ltd, Onward Holdings, Fast Retailing, Fusion Partners Co, Daiseki Co Ltd, Artner Co Ltd and more

• KEIWA is a specialized manufacturer of functional and optical films, with a strong position in the growing market for advanced display technologies used in consumer electronics and automotive applications.
• Recent financial performance shows top-line growth driven by the Optical Products segment, but significant pressure on profitability with recurring profit and net income showing substantial year-over-year declines in 1H FY12/25.
• The company’s outlook is tied to the recovery of the clean energy and automotive sectors, alongside increasing demand for high-performance optical films. However, it faces risks from intense industry competition and price pressures.

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• Pasona Group is a major player in the Japanese human resources sector, offering a comprehensive suite of services including temporary staffing, contracting, recruitment, and outsourcing. The company is navigating a challenging domestic market characterized by a shrinking workforce and increasing demand for specialized talent.
• Recent financial performance has been impacted by the sale of a significant subsidiary, Benefit One, and the conclusion of large-scale BPO projects related to the COVID-19 pandemic. The company is now focused on its ‘PASONA GROUP VISION 2030’ to reform its revenue structure and invest in new growth areas.
• Key challenges for Pasona include intense competition within the fragmented Japanese staffing industry, the need to adapt to evolving labor regulations, and the macroeconomic pressures of an aging population and potential economic slowdowns.

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• Medikit is a specialized Japanese manufacturer of vascular access devices, holding a strong domestic market position in core products like intravenous (IV) catheters and hemodialysis catheters.
• The company is poised to benefit from stable, non-discretionary demand driven by Japan’s aging population and the rising prevalence of chronic kidney disease, which necessitates dialysis.
• Despite a solid dividend track record and attractive valuation multiples relative to peers, Medikit faces challenges from sluggish revenue growth, negative free cash flow in recent years, and increasing competition in a technologically advancing global market.

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• Sales increased 18.4% YoY to JPY112.6bn, driven by Domestic Business growth, strategic brands, and expanded product lineup.
• Operating profit rose 9.2% YoY to JPY5.7bn, with improved gross profit margin and increased SG&A ratio due to investments.
• Overseas Business sales declined 11.8% YoY, with operating loss stable; growth strategy targets JPY15.0bn sales in US by FY2030.

• Fast Retailing (9983 JP) will report FY 2025 results on Thursday, 9 October 2025. Gain insight into earnings-day price history, volatility dynamics, and signals from the options market.
• Expect Volatility: Results have historically driven moves between 2–9%, with announcement-day beta vs. the Nikkei 225 more than doubling. Despite illiquidity, options imply a ±4.7% swing — in line with history.
• Portfolio Impact: As an 8% Nikkei 225 heavyweight, earnings-day moves ripple across the benchmark, making results market-relevant beyond the single stock.

Key points (machine generated)

• Scalar (4845) is listed on the Tokyo Stock Exchange and is undergoing reforms to return to growth by June 2026.
• The company focuses on IT and emphasizes ethical values, with over 50% of sales and profits coming from its digital transformation business.
• For the fiscal year ending June 2025, Scalar reported sales revenue of 8,179 million yen, a slight decrease of 0.2% from the previous year.

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• Consolidated sales for 1H FY02/26 rose 10.1% YoY to JPY36.1bn, exceeding the forecast of JPY35.6bn.
• Operating profit increased 1.7% YoY to JPY7.5bn, with OPM declining 1.7pp YoY to 20.6%.
• Recurring profit decreased 1.1% YoY to JPY7.6bn, and net income fell 3.5% YoY to JPY4.7bn.

Key points (machine generated)

• A briefing on Altner Co., Ltd. was held on October 3, 2025, featuring CEO Aizumi Sekiguchi.
• The discussion was moderated by FISCO Market Reporter Hiroe Takai and included investor DAIBOUCHOU.
• Participants were advised to review important disclosures and disclaimers related to the presented material.

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