Daily BriefsJapan

Japan: JMDC Inc, Toyota Motor, Kansai Super Market, Koshidaka Holdings, Tokyu Construction and more

In today’s briefing:

  • A Really BIG Event for JMDC (4483)
  • Toyota – Revving Up the Hydrogen Engine
  • The Kobe District Court Decides To Halt the Kansai Super Merger – Kansai Super Will Appeal
  • Koshidaka Holdings (2157): Back to Normal Business, Raising Target Price
  • Japan’s Governance: Construction Quality Issues: Tokyu Construction (1720)

A Really BIG Event for JMDC (4483)

By Travis Lundy

  • JMDC Inc (4483 JP) is an interesting company with a high-flying stock price and valuation. 
  • As one of the larger companies in the TSE Mothers universe, it still had not announced its intentions regarding TSE, and today we have the reason why
  • JMDC will move from Mothers to TSE1 on 29 November, and this will be a biggie. 

Toyota – Revving Up the Hydrogen Engine

By Mio Kato

  • In keeping with its penchant for developing every type of technology imaginable, Toyota has been working on not just fuel cells but also hydrogen engines.
  • Now it is partnering with Mazda, Subaru, Yamaha and KHI to further expand on this concept and add synthetic carbon neutral fuels to the mix.
  • These efforts could potentially provide alternative zero carbon transition paths and are worth understanding.

The Kobe District Court Decides To Halt the Kansai Super Merger – Kansai Super Will Appeal

By Travis Lundy

  • The Kobe District Court today granted the provisional disposition to block the Kansai Super Market (9919 JP) merger with two subsidiaries of H2 O Retailing (8242 JP)
  • The Court said that the “method of resolution of the EGM” was “illegal or significantly unjust.”
  • The Share Exchange scheduled for December 1st is now suspended, and we await Kansai Super’s appeal, but this sets up an interesting December for the stock.

Koshidaka Holdings (2157): Back to Normal Business, Raising Target Price

By Mita Securities

  • Koshidaka HD is a major karaoke room operator that operates “Karaoke Manekineko” stores nationwide. The total number of stores as of the end of August 2021 was 563
  • In March 2020, it spun off the Curves business and is concentrating its management resources on the karaoke business
  • Reiterate Buy with a new target price of 820 yen

Japan’s Governance: Construction Quality Issues: Tokyu Construction (1720)

By Aki Matsumoto

  • This article would like to focus on Tokyu Corporation with regard to its handling of scandals. Once a company is mired in scandals, it often gets involved in scandals again.
  • There are few ambiguities in the explanations, and the outlook seems to include a lot of risks not only for construction quality issues but also for general construction projects.
  • As far as I can see, there is little commonality between 3 types of construction quality issues, so the risk of the same type of issue being repeated is small.

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