Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

Japan Experts, Extraordinary Performance

Equity Bottom-Up

<ul><li>Q1-2 FY3/26 results were ahead of expectations in our view, demonstrating sustained growth momentum at the Food Group. All core business segments reported YoY sales growth, demonstrating broad-based progress and execution.</li><li>The Direct Selling Group continues to focus on spending for customer retention and acquisition for residential customers in the Clean Service business, but there was a segmental improvement in profitability QoQ in Q2 FY3/26; we estimate a pronounced improvement here YoY in FY3/27 as the impact of these upfront costs tapers off.</li><li>FY3/26 guidance has been maintained, which appears conservative in our view, with re-arrangement of segment forecasts highlighting resilient strength at the Food Group.</li></ul>

Q1-2 FY3/26 results were ahead of expectations in our view, demonstrating sustained growth momentum at the Food Group. All core business segments reported YoY sales growth, demonstrating broad-based progress and execution.The Direct Selling Group continues to focus on spending for customer retention and acquisition for residential customers in the Clean Service business, but there was a segmental improvement in profitability QoQ in Q2 FY3/26; we estimate a pronounced improvement here YoY in FY3/27 as the impact of these upfront costs tapers off.FY3/26 guidance has been maintained, which appears conservative in our view, with re-arrangement of segment forecasts highlighting resilient strength at the Food Group.

Duskin (4665 JP) - Results Ahead of Expectations, Food Group Maintains Strong Momentum

Duskin Co Ltd

Duskin (4665 JP) - Results Ahead of Expectations, Food Group Maintains Strong Momentum