In today’s briefing:
- Both Bond Investors and Stock Investors Are Focused on Future Cash Flows that a Company Will Produce
- TSI Buys Freak’s Store Owner Daytona International
- Q1 Follow-Up: YUKIGUNI FACTORY (1375 JP) – September 10, 2025
Both Bond Investors and Stock Investors Are Focused on Future Cash Flows that a Company Will Produce
- It’s true that measures to raise P/B that focus on strengthening shareholder returns are unpopular with investors, while excess cash on hand should be returned to shareholders under stagnated ROE.
- Both bond and equity investors are focused on the future cash flow a company will generate, and increasing cash flow is consistent with the goals of a public company.
- If a company can’t use cash reserves to increase corporate value, it should either return excess cash to shareholders or change to a manager that can use cash for growth.
TSI Buys Freak’s Store Owner Daytona International
- Like all the big apparel firms, TSI sees diversification as one of the few ways to find growth in a contracting market.
- It has the cash to do this and has just bought Daytona, the respected operator of the Freak’s store chain.
- It will use its access to capital to accelerate expansion for new fashion chains.
Q1 Follow-Up: YUKIGUNI FACTORY (1375 JP) – September 10, 2025
- On August 7, YUKIGUNI FACTORY CO., LTD. (hereinafter, the Company) announced its consolidated financial results for Q1 FY2026/3 (April–June).
- Revenue decreased 1.8% YoY to JPY 7,284 mn, while core EBITDA fell 15.5% YoY to JPY 575 mn and core operating profit dropped 78.6% YoY to JPY 22 mn.
- Due to seasonality, Q1 and Q2 are non-demanding periods for mushrooms, and significant earnings progress is difficult to expect.
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