INDUSTRIALS Archives | Page 18 of 295 | Smartkarma

• Spindex Industries (SPE SP) disclosed a privatisation through a scheme of arrangement from the Chairman and PrimeMovers Equity at S$1.43 per share. Including the FY2025 dividend, the total offer is S$1.45.
• While the offer is attractive compared to historical trading ranges, it is light in comparison to peer and precedent transaction multiples. It is also below book value. 
• The offer has not been declared final. However, the lack of a disinterested shareholder holding a blocking stake and moderate retail ownership lowers the vote risk.  

• IPO catalyst already priced in – Tekscend Photomask IPO (¥300 bn base case) crystallizes hidden value, but with TOPPAN at ~¥3,900, the upside to bull case (~¥4,100) is limited.
• Core execution the swing factor – Information & Communication (~54% sales) and BPO/Digital DX must expand margins (target 10% by FY2030 vs. ~5% today) for further re-rating.
• Balanced risk–reward – Strong balance sheet and shareholder returns (2.5% equity cancelled FY25) support valuation, but high capex and legacy print drag keep FCF and ROE volatile.

• Late Friday (26th September), precision parts manufacturer Spindex Industries (SPE SP) announced an Offer, by way of a Scheme, from the Tan Family, Spindex’s controlling shareholder (74.95%).
• The Tan’s are offering S$1.43/share, an okay 27.7% premium to undisturbed, and a decade-high price.  The Offer is backed by PE outfit PrimeMovers Equity.
• Clean deal. No competing Offer will emerge. I estimate payment mid-Jan 2026.

• We visited two manufacturing plants of Nelcast Ltd (NELC IN) located in the southern part of India. In this insight we present the key takeaways from visit.
• Specifically the Pedapariya plant which was facing low capacity utilization is seeing signs of steep ramp up.  Insights on this are provided in the note.
• With no significant capex coming up, the ramp of capacity could make Nelcast Ltd (NELC IN)a dark horse in terms of investor returns. We highlight our projections in this note.

• RaaS Senior Analyst Graeme Carson interviews Fluence Corporation CEO-elect Ben Fash on the company’s business, strategy and outlook.

• Spindex Industries (SPE SP) disclosed a privatisation through a scheme of arrangement from the Chairman and PrimeMovers Equity at S$1.43 per share. Including the FY2025 dividend, the total offer is S$1.45.
• While the offer is attractive compared to historical trading ranges, it is light in comparison to peer and precedent transaction multiples. It is also below book value. 
• The offer has not been declared final. However, the lack of a disinterested shareholder holding a blocking stake and moderate retail ownership lowers the vote risk.  

• IPO catalyst already priced in – Tekscend Photomask IPO (¥300 bn base case) crystallizes hidden value, but with TOPPAN at ~¥3,900, the upside to bull case (~¥4,100) is limited.
• Core execution the swing factor – Information & Communication (~54% sales) and BPO/Digital DX must expand margins (target 10% by FY2030 vs. ~5% today) for further re-rating.
• Balanced risk–reward – Strong balance sheet and shareholder returns (2.5% equity cancelled FY25) support valuation, but high capex and legacy print drag keep FCF and ROE volatile.

• Late Friday (26th September), precision parts manufacturer Spindex Industries (SPE SP) announced an Offer, by way of a Scheme, from the Tan Family, Spindex’s controlling shareholder (74.95%).
• The Tan’s are offering S$1.43/share, an okay 27.7% premium to undisturbed, and a decade-high price.  The Offer is backed by PE outfit PrimeMovers Equity.
• Clean deal. No competing Offer will emerge. I estimate payment mid-Jan 2026.

• We visited two manufacturing plants of Nelcast Ltd (NELC IN) located in the southern part of India. In this insight we present the key takeaways from visit.
• Specifically the Pedapariya plant which was facing low capacity utilization is seeing signs of steep ramp up.  Insights on this are provided in the note.
• With no significant capex coming up, the ramp of capacity could make Nelcast Ltd (NELC IN)a dark horse in terms of investor returns. We highlight our projections in this note.

• RaaS Senior Analyst Graeme Carson interviews Fluence Corporation CEO-elect Ben Fash on the company’s business, strategy and outlook.

• Federal Signal Corporation has made a strategic move with its definitive agreement to acquire Scranton Manufacturing Company, doing business as New Way Trucks, for an initial consideration of $396 million.
• This deal, announced on September 25, 2025, includes an additional $30 million earmarked for real estate tied to New Way’s manufacturing facilities in Iowa and Mississippi.
• Further, a performance-based earnout of up to $54 million could be paid over the next two years.

• We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
• Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.
• Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500

• Laser wireless power transmission technology opens new defense, dual-use and civilian market opportunities. 
• Japanese politicians inclined to spend more on defense, but worried about the national budget. Likely to split the difference between 2% of GDP and Trump’s demands. 
• Aircraft, Defense & Space to drive sales and profit growth through 2030. Buy on dips for the long term.

• Bloom Energy’s second quarter 2025 results highlighted both robust growth and certain areas of strategic focus.
• The call was led by CEO K.R. Sridhar, who shared that this was the most profitable second quarter in the company’s history.
• Bloom Energy is seeing increased demand driven by the shift towards AI and data center needs for reliable and rapidly deployable power solutions.

• Federal Signal Corporation has made a strategic move with its definitive agreement to acquire Scranton Manufacturing Company, doing business as New Way Trucks, for an initial consideration of $396 million.
• This deal, announced on September 25, 2025, includes an additional $30 million earmarked for real estate tied to New Way’s manufacturing facilities in Iowa and Mississippi.
• Further, a performance-based earnout of up to $54 million could be paid over the next two years.

• We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
• Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.
• Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500

• Laser wireless power transmission technology opens new defense, dual-use and civilian market opportunities. 
• Japanese politicians inclined to spend more on defense, but worried about the national budget. Likely to split the difference between 2% of GDP and Trump’s demands. 
• Aircraft, Defense & Space to drive sales and profit growth through 2030. Buy on dips for the long term.

• Bloom Energy’s second quarter 2025 results highlighted both robust growth and certain areas of strategic focus.
• The call was led by CEO K.R. Sridhar, who shared that this was the most profitable second quarter in the company’s history.
• Bloom Energy is seeing increased demand driven by the shift towards AI and data center needs for reliable and rapidly deployable power solutions.

• Axon Enterprise, best known for its Tasers, body-worn cameras, and cloud-based evidence management tools, has made headlines yet again.
• The company announced it will acquire Prepared, a U.S.-based emergency communications platform that integrates 911 call data across audio, video, GPS, text, and translation tools into one unified interface.
• Though Axon has not disclosed the official price, media outlets suggest a range of $800 million to $900 million.

• Chorus Aviation is repurchasing 8% of shares at C$23.00–C$25.00, with odd-lot holders prioritized.
• Paid-up capital is C$15.75/share; amounts above this are treated as dividends, impacting tax-exempt accounts.
• Previous tender was undersubscribed; CHR shares viewed as undervalued, with historic low EBITDA multiples.

• 8th September: Project Glow Topco Limited, the ultimate holding Company of The Beauty Tech Group Limited, a global leader in the rapidly growing at-home beauty technology market, has confirmed its intention to float on the Main Market.
• The Beauty Tech Group encompasses three distinct, innovative and premium beauty technology brands – CurrentBody Skin, ZIIP Beauty and Tria Laser – under which it develops, manufactures and retails at-home beauty devices.
• In FY24, the Group reported revenue of £101.1m and adjusted EBITDA of £22.9m. 

Key points (machine generated)

• Qualtec reported record highs in sales, operating profit, and ordinary profit for the fiscal year ending June 2025.
• Sales reached 4,025 million yen, an 11.1% year-on-year increase, with operating profit and ordinary profit at 384 million yen.
• The company’s growth is driven by increased orders for power semiconductor testing and bio-related services, enhancing its reputation in quality technology.

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

Key points (machine generated)

• Uber has experienced over 50% year-to-date growth and has significant potential for future returns.
• The company connects drivers and riders, merchants and customers, and shippers and carriers, serving over 170 million monthly active users.
• Strategic initiatives like service integration, new product introductions, and effective pricing are expected to enhance growth and profitability.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Axon Enterprise, best known for its Tasers, body-worn cameras, and cloud-based evidence management tools, has made headlines yet again.
• The company announced it will acquire Prepared, a U.S.-based emergency communications platform that integrates 911 call data across audio, video, GPS, text, and translation tools into one unified interface.
• Though Axon has not disclosed the official price, media outlets suggest a range of $800 million to $900 million.

• Chorus Aviation is repurchasing 8% of shares at C$23.00–C$25.00, with odd-lot holders prioritized.
• Paid-up capital is C$15.75/share; amounts above this are treated as dividends, impacting tax-exempt accounts.
• Previous tender was undersubscribed; CHR shares viewed as undervalued, with historic low EBITDA multiples.

• 8th September: Project Glow Topco Limited, the ultimate holding Company of The Beauty Tech Group Limited, a global leader in the rapidly growing at-home beauty technology market, has confirmed its intention to float on the Main Market.
• The Beauty Tech Group encompasses three distinct, innovative and premium beauty technology brands – CurrentBody Skin, ZIIP Beauty and Tria Laser – under which it develops, manufactures and retails at-home beauty devices.
• In FY24, the Group reported revenue of £101.1m and adjusted EBITDA of £22.9m. 

Key points (machine generated)

• Qualtec reported record highs in sales, operating profit, and ordinary profit for the fiscal year ending June 2025.
• Sales reached 4,025 million yen, an 11.1% year-on-year increase, with operating profit and ordinary profit at 384 million yen.
• The company’s growth is driven by increased orders for power semiconductor testing and bio-related services, enhancing its reputation in quality technology.

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

Key points (machine generated)

• Uber has experienced over 50% year-to-date growth and has significant potential for future returns.
• The company connects drivers and riders, merchants and customers, and shippers and carriers, serving over 170 million monthly active users.
• Strategic initiatives like service integration, new product introductions, and effective pricing are expected to enhance growth and profitability.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the December 2025 index rebal event.
• We expect one change for ASX 50, one change for ASX 100, and four changes for ASX 200. 
• The official index changes will be announced after the close on Friday 5th December 2025.

• On 24 September, Hyundai Elevator Co (017800 KS) announced that it plans to sell 7.8 million shares of Hyundai Movex (319400 KS), representing 7% of its outstanding shares.
• Over the next several weeks, we expect continued outperformance of Hyundai Elevator vs Hyundai Movex. 
• We like the pair trade of going long Hyundai Elevator and going short Hyundai Movex over the next 1-3 months, especially due to concerns about a 7% sale in Movex.

• Earnings Growth: Non-resource engines (Food, FamilyMart, ICT, Textiles) compounding at double-digit rates; mid- to high-single-digit EPS growth outlook.
• Valuation: Trades at ~13× FY2026E P/E, in line with peers, offering steady TSR without a valuation premium.
• Capital Returns: ¥200/share dividend + ¥150 bn buybacks underpin 40–50% payout; EPS uplift from share reduction.

Braemar’s H126 trading update confirms that the first half was a tough period but the company is making progress against its FY30 growth targets (announced earlier this year). These include the opening of a new Cape Town office focusing on tanker chartering, which brought Braemar’s global footprint to 19 offices in 14 countries. The long-term fundamentals remain in place and we expect a return to growth in FY27e. Following the update, our profit estimates are unchanged, as is our valuation of 462p, which offers c 90% upside.

• Petards Group PLC (PEG) announced it’s interim results for the half year ended 30 June 2025.
• We have published research on this which is attached and a snapshot of the research is below.
• The Affini acquisition, the third acquisition since 2016, has had a strong positive impact on the Interims results to June 2025, while the other divisions achieved either higher or similar revenues to last year.

• Shares of Plug Power have defied gravity in recent weeks, notching an unprecedented 10-day winning streak and more than doubling in value to $2.82 as of September 23, 2025.
• Despite a historical track record of operating losses and continued projections of negative earnings in fiscal 2025, the stock has caught fire amid a convergence of bullish catalysts.
• Chief among them is the potential for a $370 million cash injection from warrant exercises by Heights Capital Management, following a new disclosure by the company.

Key points (machine generated)

• Qualtec reported record highs in sales, operating profit, and ordinary profit for the fiscal year ending June 2025, with sales reaching 4,025 million yen, an 11.1% increase year-on-year.
• The company’s growth is attributed to rising orders in power semiconductor testing and bio-related sectors.
• Qualtec specializes in reliability evaluation services and has gained recognition for its Total Quality Solution (TQS) among major clients, including complete vehicle manufacturers.

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

• Advanced Drainage Systems, Inc. reported its first-quarter fiscal 2026 results, reflecting a mix of both positive performance indicators and challenges in the current market environment.
• Notably, the company achieved a 33.5% adjusted EBITDA margin, showcasing resilience despite facing demand headwinds.
• Revenue increased by 2%, driven primarily by the recent Orenco acquisition, while organic sales experienced a slight decline, although core nonresidential and residential markets remained stable.

• Sunwoda Electronic Co Ltd A (300207 CH) is looking to raise around US$400m in its upcoming H-share listing.
• It is a lithium-ion battery manufacturer. It covers a rich product matrix including consumer battery, EV battery and ESS.
• In this note, we look at its past performance and other deal dynamics that might impact the listing.

• Frontier Management (hereafter, the Company) announced its H1 FY2025/12 results after market close on August 13, 2025.
• Net sales rose 26.6% YoY to JPY 5,771 mn, supported by the consolidation of HobbyLink Japan, an investee company, while operating profit recorded a loss of JPY 10 mn.
• In addition, ordinary profit posted a loss of JPY 199 mn due to financing costs such as arrangement fees for a syndicated loan.

• In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the December 2025 index rebal event.
• We expect one change for ASX 50, one change for ASX 100, and four changes for ASX 200. 
• The official index changes will be announced after the close on Friday 5th December 2025.

• On 24 September, Hyundai Elevator Co (017800 KS) announced that it plans to sell 7.8 million shares of Hyundai Movex (319400 KS), representing 7% of its outstanding shares.
• Over the next several weeks, we expect continued outperformance of Hyundai Elevator vs Hyundai Movex. 
• We like the pair trade of going long Hyundai Elevator and going short Hyundai Movex over the next 1-3 months, especially due to concerns about a 7% sale in Movex.

• Earnings Growth: Non-resource engines (Food, FamilyMart, ICT, Textiles) compounding at double-digit rates; mid- to high-single-digit EPS growth outlook.
• Valuation: Trades at ~13× FY2026E P/E, in line with peers, offering steady TSR without a valuation premium.
• Capital Returns: ¥200/share dividend + ¥150 bn buybacks underpin 40–50% payout; EPS uplift from share reduction.

Braemar’s H126 trading update confirms that the first half was a tough period but the company is making progress against its FY30 growth targets (announced earlier this year). These include the opening of a new Cape Town office focusing on tanker chartering, which brought Braemar’s global footprint to 19 offices in 14 countries. The long-term fundamentals remain in place and we expect a return to growth in FY27e. Following the update, our profit estimates are unchanged, as is our valuation of 462p, which offers c 90% upside.

• Petards Group PLC (PEG) announced it’s interim results for the half year ended 30 June 2025.
• We have published research on this which is attached and a snapshot of the research is below.
• The Affini acquisition, the third acquisition since 2016, has had a strong positive impact on the Interims results to June 2025, while the other divisions achieved either higher or similar revenues to last year.

• Shares of Plug Power have defied gravity in recent weeks, notching an unprecedented 10-day winning streak and more than doubling in value to $2.82 as of September 23, 2025.
• Despite a historical track record of operating losses and continued projections of negative earnings in fiscal 2025, the stock has caught fire amid a convergence of bullish catalysts.
• Chief among them is the potential for a $370 million cash injection from warrant exercises by Heights Capital Management, following a new disclosure by the company.

Key points (machine generated)

• Qualtec reported record highs in sales, operating profit, and ordinary profit for the fiscal year ending June 2025, with sales reaching 4,025 million yen, an 11.1% increase year-on-year.
• The company’s growth is attributed to rising orders in power semiconductor testing and bio-related sectors.
• Qualtec specializes in reliability evaluation services and has gained recognition for its Total Quality Solution (TQS) among major clients, including complete vehicle manufacturers.

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

• Advanced Drainage Systems, Inc. reported its first-quarter fiscal 2026 results, reflecting a mix of both positive performance indicators and challenges in the current market environment.
• Notably, the company achieved a 33.5% adjusted EBITDA margin, showcasing resilience despite facing demand headwinds.
• Revenue increased by 2%, driven primarily by the recent Orenco acquisition, while organic sales experienced a slight decline, although core nonresidential and residential markets remained stable.

• Sunwoda Electronic Co Ltd A (300207 CH) is looking to raise around US$400m in its upcoming H-share listing.
• It is a lithium-ion battery manufacturer. It covers a rich product matrix including consumer battery, EV battery and ESS.
• In this note, we look at its past performance and other deal dynamics that might impact the listing.

• Frontier Management (hereafter, the Company) announced its H1 FY2025/12 results after market close on August 13, 2025.
• Net sales rose 26.6% YoY to JPY 5,771 mn, supported by the consolidation of HobbyLink Japan, an investee company, while operating profit recorded a loss of JPY 10 mn.
• In addition, ordinary profit posted a loss of JPY 199 mn due to financing costs such as arrangement fees for a syndicated loan.

• In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2025.
• The seven potential additions are up on average 200% YTD. The eight potential deletion candidates are down on average 8.8% YTD. KOSPI is up 44.7% YTD.
• The average market cap of the seven potential additions is 3.5 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.

• On 24 September, Ecopro Co confirmed that it will be raising 800 billion won through a PRS using its stake in Ecopro BM as the base asset.
• Ecopro BM has a market cap of 11.3 trillion won. A PRS worth 800 billion won represents 7.1% of Ecopro BM’s market cap. 
• All in all, we believe this PRS deal worth 800 billion won is likely to negatively impact both Ecopro Co and Ecopro BM.

• Copper earnings leverage: Equity-method stakes in Collahuasi and Anglo Sur mean every +10% copper move adds ~¥25–30 bn net income (~3% EPS), giving Mitsui underappreciated upside torque.
• LNG stability & cash flows: Long-term contracts in Mozambique, Cameron, Qatar, and Sakhalin underpin resilient earnings and support ¥400 bn annual buybacks (~5% equity).
• Valuation: P/B discount vs Itochu has closed (~1.1× each), but Berkshire’s ≥10% stake enforces capital discipline; TSR outlook is 6–9% CAGR through FY28, with copper strength providing double-digit upside.

• Solarspace Technology (2221225D CH) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by China Securities International and CITIC Securities.
• Solarspace Technology Co., Ltd. is a global specialized photovoltaic (PV) cell manufacturer with an integrated presence in PV modules. which are the core components that convert sunlight into electricity.
• The company operates in the midstream of the solar value chain, focusing on the research, development, and large-scale production of both N-type and P-type PV cells, and PV modules.

• Largest Malaysian IPO in over a decade – MMC Port seeks to raise ~RM8.5bn (~US$2bn) at ~RM30bn valuation via an Offer-for-Sale; no new capital raised.
• Strong catalysts but yield/mix risks – Tariff hikes (+30% by 2027) and Gemini alliance (Maersk–Hapag) boost near-term throughput, but high transshipment share (73%) pressures yields.
• IPO Structure: Offer-for-Sale of up to 30%; no new proceeds for the company, making capital allocation and leverage management important post-listing

• CJ Corp‘s valuation and growth are increasingly driven by its unlisted subsidiary, CJ Olive Young, which is capitalizing on the global K-beauty trend and showing strong topline growth and margin expansion.
• The holding company’s overall financial performance is mixed, with the stellar results from CJ Olive Young being partially offset by disappointing performance at other major listed subsidiaries in the food, logistics, and media sectors.
• Key forward-looking catalysts include the potential IPO of CJ Olive Young and the return of Chinese tourists to Korea, while significant risks loom from potential US tariffs on cosmetics and the persistent underperformance of its diversified portfolio.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Key points (machine generated)

• Furusato Maruka Holdings, formed in October 2021, has revised its earnings forecast downward for the fiscal year ending December 2025.
• For the interim results of 2025, consolidated sales increased by 1.2% to 79,779 million yen, but operating profit fell by 11.7% and ordinary profit decreased by 14%.
• The company will change its name to Unisol Holdings Co., Ltd. on January 1, 2026, aiming to become a unique solution provider beyond traditional trading.

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

• In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2025.
• The seven potential additions are up on average 200% YTD. The eight potential deletion candidates are down on average 8.8% YTD. KOSPI is up 44.7% YTD.
• The average market cap of the seven potential additions is 3.5 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.

• On 24 September, Ecopro Co confirmed that it will be raising 800 billion won through a PRS using its stake in Ecopro BM as the base asset.
• Ecopro BM has a market cap of 11.3 trillion won. A PRS worth 800 billion won represents 7.1% of Ecopro BM’s market cap. 
• All in all, we believe this PRS deal worth 800 billion won is likely to negatively impact both Ecopro Co and Ecopro BM.

• Copper earnings leverage: Equity-method stakes in Collahuasi and Anglo Sur mean every +10% copper move adds ~¥25–30 bn net income (~3% EPS), giving Mitsui underappreciated upside torque.
• LNG stability & cash flows: Long-term contracts in Mozambique, Cameron, Qatar, and Sakhalin underpin resilient earnings and support ¥400 bn annual buybacks (~5% equity).
• Valuation: P/B discount vs Itochu has closed (~1.1× each), but Berkshire’s ≥10% stake enforces capital discipline; TSR outlook is 6–9% CAGR through FY28, with copper strength providing double-digit upside.

• Solarspace Technology (2221225D CH) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by China Securities International and CITIC Securities.
• Solarspace Technology Co., Ltd. is a global specialized photovoltaic (PV) cell manufacturer with an integrated presence in PV modules. which are the core components that convert sunlight into electricity.
• The company operates in the midstream of the solar value chain, focusing on the research, development, and large-scale production of both N-type and P-type PV cells, and PV modules.

• Largest Malaysian IPO in over a decade – MMC Port seeks to raise ~RM8.5bn (~US$2bn) at ~RM30bn valuation via an Offer-for-Sale; no new capital raised.
• Strong catalysts but yield/mix risks – Tariff hikes (+30% by 2027) and Gemini alliance (Maersk–Hapag) boost near-term throughput, but high transshipment share (73%) pressures yields.
• IPO Structure: Offer-for-Sale of up to 30%; no new proceeds for the company, making capital allocation and leverage management important post-listing

• CJ Corp‘s valuation and growth are increasingly driven by its unlisted subsidiary, CJ Olive Young, which is capitalizing on the global K-beauty trend and showing strong topline growth and margin expansion.
• The holding company’s overall financial performance is mixed, with the stellar results from CJ Olive Young being partially offset by disappointing performance at other major listed subsidiaries in the food, logistics, and media sectors.
• Key forward-looking catalysts include the potential IPO of CJ Olive Young and the return of Chinese tourists to Korea, while significant risks loom from potential US tariffs on cosmetics and the persistent underperformance of its diversified portfolio.

This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Key points (machine generated)

• Furusato Maruka Holdings, formed in October 2021, has revised its earnings forecast downward for the fiscal year ending December 2025.
• For the interim results of 2025, consolidated sales increased by 1.2% to 79,779 million yen, but operating profit fell by 11.7% and ordinary profit decreased by 14%.
• The company will change its name to Unisol Holdings Co., Ltd. on January 1, 2026, aiming to become a unique solution provider beyond traditional trading.

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