Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Our report is an authoritative Owner’s Manual on the company.
- A vital piece in the investor’s toolbox, our report allows you to uncover the essence of the business
- We pinpoint strengths and weaknesses; discuss strategy
- Our aim is to make deep knowledge about the company readily available, saving investors time and enabling dialogue

We offer our research as a service for Japanese corporates.
- Our in-depth reports allow them to better inform investors by presenting an unbiased third-party view of business fundamentals
- Our reports do not offer investment opinions and are free for all investors

We start our coverage with a substantial core report.
- We continuously update this report to reflect earnings, news flow, and any material developments
- We thoroughly interview management on a quarterly basis

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul><li>Sales declined to JPY23.0bn (-12.6% YoY), with operating profit at JPY3.8bn (-33.9% YoY) and net income at JPY2.7bn (-48.0% YoY).</li><li>FY12/25 forecast revised to sales of JPY48.0bn (-9.6% YoY) and operating profit of JPY7.5bn (-38.7% YoY).</li><li>Dividend forecast maintained at JPY145.0 per share, with a payout ratio of 60.8% based on FY12/25 forecast.</li></ul>

Sales declined to JPY23.0bn (-12.6% YoY), with operating profit at JPY3.8bn (-33.9% YoY) and net income at JPY2.7bn (-48.0% YoY).FY12/25 forecast revised to sales of JPY48.0bn (-9.6% YoY) and operating profit of JPY7.5bn (-38.7% YoY).Dividend forecast maintained at JPY145.0 per share, with a payout ratio of 60.8% based on FY12/25 forecast.

Toyo Tanso (5310 JP): 1H FY12/25 flash update