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

Japan Elevator Service Holding / Equity Bottom-Up

<ul><li>Defensive growth in motion – We view Q1-4 FY3/25 results as indicating that Japan Elevator Services (JES) reinforced its position as a structurally growing, non-cyclical business with resilient cash flows and strong earnings visibility.</li><li>Contract growth accelerated at the high-margin Maintenance segment, rising 13.3% YoY, and operational leverage resulted in OPM expansion YoY, signifying a scalable business model.</li><li>With increasing engineer productivity improving margin dynamics, nationwide market expansion driving sales, and inflationary cost pressures reinforcing JES’s competitive advantage to gain market share, we believe the earnings outlook is one of sustained compounding growth.</li></ul>

Defensive growth in motion – We view Q1-4 FY3/25 results as indicating that Japan Elevator Services (JES) reinforced its position as a structurally growing, non-cyclical business with resilient cash flows and strong earnings visibility.Contract growth accelerated at the high-margin Maintenance segment, rising 13.3% YoY, and operational leverage resulted in OPM expansion YoY, signifying a scalable business model.With increasing engineer productivity improving margin dynamics, nationwide market expansion driving sales, and inflationary cost pressures reinforcing JES’s competitive advantage to gain market share, we believe the earnings outlook is one of sustained compounding growth.

Japan Elevator Service Holdings (6544 JP) - Structural Growth with Cyclical Resilience