Baycurrent Consulting

BayCurrent: Strong Earnings and an Upgrade to Guidance; Drop in Multiples Offers a Good Entry Point

Equity Bottom-Up
186 Views, 19 Jan 2022 13:38
EXECUTIVE SUMMARY
  • Baycurrent Consulting (6532 JP) reported 3QFY02/2022 results last week. Revenue for the quarter increased 39.0% YoY to JPY15.0bn while OP increased 57.5% YoY to JPY3.7bn.
  • The company has revised both its revenue and OP guidance upwards for full-year FY02/2022E to JPY56.5bn and JPY21bn respectively.
  • The company has already met 73.5% and 72.7% of its revenue and OP target, we expect earnings beat for the full-year as fourth quarter is the strongest.
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Shifara Samsudeen, ACMA, CGMA
Equity Analyst
LightStream Research
JapanIndustrialsEquity Bottom-UpEquity Capital Markets

A chartered management accountant with more than 10 years of rich experience in investment research and financial analys... 

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