Daily Brief Japan: Timee Inc, JPY, Sysmex Corp, Nintendo, Japan System Techniques Co, LIFULL, Nikkei 225, Daiichi Sankyo, Mitsubishi UFJ Financial (MUFG), Paycloud Holdings and more

• Timee Inc (215A JP) listed in Japan on 26th July 2024 after raising US$300m. Its six-month lockup will expire on 21st Jan 2025.
• Timee operates an on-demand staffing platform that connects part-time jobseekers with businesses in Japan.
• In this note, we will talk about the lock-up dynamics and updates since our last note.

• Discussion on potential tariffs and their impact on global markets, with a focus on Canada, China, and Mexico
• Analysis of the upcoming BOJ meeting and its potential impact on the Japanese yen
• Update on UK’s economic challenges, including concerns about fiscal math and potential trade war implications

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• Sysmex America, Inc., a subsidiary of Sysmex Corp, recently announced plans to build a new reagent manufacturing, distribution, and service center in Brazil.
• In FY24, sales in the Americas region for Sysmex increased 12% YoY to ¥118.7B. Reagents drove the revenue growing 16%.
• Operating margins in the Americas have largely trodden on a volatile trajectory over the last few years hovering in the range of 4-6%, lowest among all the geographies.

• Finley translates unstructured credit agreements into code to streamline credit management processes
• Borrowers like RAMP and ANOVA rely on Finley for tracking and automation of reporting requirements
• Lenders like Trinity Capital Valley bank use Finley as a command center for debt capital data and analysis across transactions.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Japan System Techniques (hereafter, the Company) announced its H1 Key consolidated figures net sales of JPY 13,260 mn (+9.3% YoY), operating profit of JPY 1,045 mn (+4.2% YoY), ordinary profit of JPY 1,077 mn (+6.8% YoY), and profit attributable to owners o  parent (hereafter, net profit) of JPY 671 mn (+3.2% YoY).
• Higher sales and profits in the DX&SI business and Package business contributed in H1 earnings growth.
• For FY2025/3, the Company forecasts: net sales of JPY 28,570 mn (+9.1% YoY), operating profit of JPY 3,150 mn (+12.9% YoY), ordinary profit of JPY 3,200 mn (+11.8% YoY), and net profit of JPY 2,300 mn (+10.2%).

• LIFULL Co., Ltd. (hereafter, the Company) operates one of Japan’s largest real estate and housing information sites, LIFULL HOME’S, which works with real estate companies across Japan to provide listings for rental and for-sale properties.
• Emphasizing a user-first approach, it not only offers property information but also supports users’ decision making through features such as information on living conditions by area, user reviews, and AI-driven recommendations.
• Beyond real estate, the Company has expanded into new businesses, including LIFULL Kaigo, a matching platform for senior living facilities, and LIFULL Regional Revitalization, to meet a broad range of user needs.

• Nikkei has spent 55 trading days with 1M historic vol less than 1M implied vol, averaging about 4 points less.
• The trading range since October looks similar to the trading range the market went through from May to July with similar volatility characteristics. 
• Big move on Monday didn’t spark volatility with market settling into a very narrow range to finish the week down 1.89%.

• Daiichi Sankyo (4568 JP) has received FDA approval for Datroway for the second-line treatment of unresectable or metastatic hormone receptor (HR) positive, HER2 negative breast cancer.
• Last month, Datroway got approval in Japan. Regulatory submissions for the drug are under review in the EU, China, and other regions. The drug is undergoing trial for other indications.
• AstraZeneca’s proven commercialization capability for Enhertu enhances conviction on the commercialization prospect of Datroway too. AstraZeneca pegged peak year revenue of Datroway at more than $5B (similar level to Enhertu).

• Mitsubishi UFJ Financial Group, MUFG, reported a record-high net profit of JPY 1,258.1 billion for the first half of FY 2024, marking a 46% increase compared to the previous year.
• This achievement represents an 83% progression towards its FY 2024 profit target of JPY 1.5 trillion.
• The positive financial results were largely attributable to increased profitability in customer segments and substantial net gains from the sale of equity holdings.

• Paycloud Holdings Inc. (hereafter, “the Company”) primarily serves major retail and restaurant chains, as well as consumer-related businesses, through its three main businesses: 1) cashless service, 2) digital signage-related, and 3) IT solutions.
• By integrating DX solutions across these three businesses, the Company pursues a retail marketing platform strategy focused on supporting to strengthen consumer touchpoints both inside and outside of retail stores.
• It is establishing itself as a leading domestic player with its Dokuji Pay (branded currency payment + marketing) service, where clients act as issuers, and delivering end-to-end digital signage-related solutions.