In today’s briefing:
- Mitsui Mining & Smelting (5706 JP): Navigating Cyclical Metals While Riding AI Materials Growth
- Shortlist Of High Conviction Ideas Across China, Japan, India – August 2025
- Q1 Follow-Up – Startia Holdings (3393 JP) – August 18, 2025
- Vega and Rivals Expand Home Decor E-Commerce in Japan
- The Environment Necessary for Disclosure of Annual Securities Report 3 Weeks Prior to AGMs Is…
Mitsui Mining & Smelting (5706 JP): Navigating Cyclical Metals While Riding AI Materials Growth
- The Engineered Materials segment, driven by AI/5G-linked products like MicroThin™ and FaradFlex®, is poised for strong growth, offsetting near-term Metals segment weakness.
- A forward valuation of ~17× P/E and ~7.5× EV/EBITDA, supported by strong growth in MicroThin™ and the scaling of FaradFlex®, is broadly in line with peers.
- Key risks include metals price volatility, execution delays in FaradFlex®/MicroThin™ ramp-up, and intensifying competition from Asian copper foil and laminate producers.
Shortlist Of High Conviction Ideas Across China, Japan, India – August 2025
- We compile our picks across Japan, China and India based on bottom-up triggers in each company.Our top picks in China Chow Tai Fook Jewellery (1929 HK) and Midea Group (300 HK)
- Post our insight Dongfeng Motor(489HK)-Abandoned Restructuring,Cash > MCap : Can It Be A Dark Horse In Coming Future? , Dongfeng Motor (489 HK) is up 150% driven by delisting offer.
- Our top picks in Japan areDenso Corp (6902 JP),ROHM Co Ltd (6963 JP) and in India,it is Mahindra & Mahindra (MM IN),Ashok Leyland (AL IN) and TVS Motor (TVSL IN)
Q1 Follow-Up – Startia Holdings (3393 JP) – August 18, 2025
- Q1 FY2026/3 Results review: Startia Holdings, Inc. (hereafter, the Company) announced its Q1 (Apr– Jun) FY2026/3 results on August 8.
- The Company reported net sales of JPY 5,636 mn (+7.2% YoY), operating profit of JPY 593 mn (+11.2% YoY), ordinary profit of JPY 589 mn (+0.1% YoY), and net profit of JPY 402 mn (-17.9% YoY).
- The decrease in net profit was attributable to an increase in corporate tax expense related to share-based compensation and does not reflect any change in the Company’s fundamentals.
Vega and Rivals Expand Home Decor E-Commerce in Japan
- E-Commerce is a natural fit for furniture brands given the difficulty of taking purchases home from stores.
- A number of start-ups are attracting investment and growing fast, but more established online players like Lowya are now opening stores given demand to try out furniture before purchase.
- Industry estimates suggest the e-commerce home decor market is growing at twice the rate of the market overall.
The Environment Necessary for Disclosure of Annual Securities Report 3 Weeks Prior to AGMs Is…
- There is a clear difference in awareness of pre-AGM disclosure in annual securities reports between companies that are targeted by overseas investors and those that are not.
- Regarding the postponement of shareholder meetings, companies that have responded to investor needs are considering postponing their AGM dates, while most other companies are reluctant to do so.
- In order for more companies to disclose their annual securities reports three weeks prior to AGMs and postpone their AGM dates, more companies need to be aware of this need.
💡 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
