Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Japan Experts, Extraordinary Performance

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.

Equity Bottom-Up

TOYOBO CO., LTD. manufactures and sells natural and synthetic fibers. The Company specializes in synthetic fibers, cotton synthetic blends, wool, secondary textile products, and functional materials.  Toyobo also produces plastic films, biochemical products, and electronics and operates construction business.

<ul>
<li>Q3 FY3/25 results showed strong OP recovery (+23.3% YoY), fuelled by price hikes, volume expansion, and cost reduction efforts.</li>
<li>Although the OP run rate was 60% of the full-year target, relatively low for Q3, reflecting one-off costs, FY3/25 guidance was maintained.</li>
<li>By segment, Films was the largest contributor to segment OP growth (+11.5x YoY), followed by Functional Textiles and Trading, which reduced its segment operating loss. </li>
</ul>


Q3 FY3/25 results showed strong OP recovery (+23.3% YoY), fuelled by price hikes, volume expansion, and cost reduction efforts.
Although the OP run rate was 60% of the full-year target, relatively low for Q3, reflecting one-off costs, FY3/25 guidance was maintained.
By segment, Films was the largest contributor to segment OP growth (+11.5x YoY), followed by Functional Textiles and Trading, which reduced its segment operating loss. 


Toyobo (3101 JP) - Strong Profit Growth Despite One-Off Costs

Geniee, Inc. operates advertising businesses. The Company provides internet advertising, advertising planning, and other services. Geniee provides services for advertisers, medias, and other customers.

<ul><li>Geniee delivered accelerating double-digit growth in sales (+40.6% YoY) and normalized OP (+50.8% YoY) with its Q1-3 FY3/25 results.</li><li>The new Digital PR business (formed following the Social Wire acquisition) is in its early days, but there are signs that it is performing above. forecasts.</li><li>Coupled with accelerating growth and improving profitability in the Company’s Overseas and Marketing SaaS segment, we think Geniee is turning a corner on its growth trend. </li></ul>

Geniee delivered accelerating double-digit growth in sales (+40.6% YoY) and normalized OP (+50.8% YoY) with its Q1-3 FY3/25 results.The new Digital PR business (formed following the Social Wire acquisition) is in its early days, but there are signs that it is performing above. forecasts.Coupled with accelerating growth and improving profitability in the Company’s Overseas and Marketing SaaS segment, we think Geniee is turning a corner on its growth trend. 

Geniee (6562 JP) - SaaS Drives Accelerating Growth, M&A Adds Momentum

Sodick Co., Ltd. develops, manufactures, and sells electric machines and equipment.  The Company's product line includes computerized numerical control electrical discharge machine (EDM), super high precision wire cut EDM, CAD/CAM system for mold design and production, injection molding machine, and high speed manual drilling machine.

<ul><li>A turnaround in progress – Q1-4 FY12/24 results were significantly ahead of guidance and a positive surprise, showing a solid recovery YoY with 9.7% sales growth YoY and a return to positive earnings territory.</li><li>This indicates solid execution of structural reforms, with fixed costs being reduced by streamlining overseas staff and internalizing parts production that were previously outsourced.</li><li>An uptick in demand in Q4 FY12/24 for both Machine Tools and Industrial Machinery was driven by connectors used in high-density fiber optic connections in the data center and telecommunications sectors. </li></ul>

A turnaround in progress – Q1-4 FY12/24 results were significantly ahead of guidance and a positive surprise, showing a solid recovery YoY with 9.7% sales growth YoY and a return to positive earnings territory.This indicates solid execution of structural reforms, with fixed costs being reduced by streamlining overseas staff and internalizing parts production that were previously outsourced.An uptick in demand in Q4 FY12/24 for both Machine Tools and Industrial Machinery was driven by connectors used in high-density fiber optic connections in the data center and telecommunications sectors. 

Sodick (6143 JP) - Signalling a Positive Shift

Restar Holdings Corporation / Equity Bottom-Up

Restar Holdings Corporation is a holding company which manages operations for its subsidiaries.  Group companies wholesale semiconductors, electronic components and equipment.  UKC Holdings also designs semiconductors and software through its subsidiaries.

<ul><li>Q1-3 FY3/25 results underlined Restar’s positive sales growth profile (+11.2% YoY) driven by its roll-up M&amp;A strategy, a strong demand environment for cameras and PC-related products in consumer products, and smartphone demand driving EMS activity YoY.</li><li>However, headwinds persist in the form of continued delay in demand recovery from the Industrial sector, a sales mix lowering gross margin, and negative impact from a strengthening Japanese yen.</li><li>We have not seen concrete evidence of cost savings from post-merger integration activities. </li></ul>

Q1-3 FY3/25 results underlined Restar’s positive sales growth profile (+11.2% YoY) driven by its roll-up M&amp;A strategy, a strong demand environment for cameras and PC-related products in consumer products, and smartphone demand driving EMS activity YoY.However, headwinds persist in the form of continued delay in demand recovery from the Industrial sector, a sales mix lowering gross margin, and negative impact from a strengthening Japanese yen.We have not seen concrete evidence of cost savings from post-merger integration activities. 

Restar (3156 JP) - Positioning for Future Demand Upturn

Aoyama Zaisan Networks Co Lt / Equity Bottom-Up

Aoyama Zaisan Networks Company,Limited operates as a property consulting company. The Company offers inherited property and business succession, individual asset consulting, and corporate finance consulting services. Aoyama Zaisan Networks serves customers in Japan.

<ul><li>Well positioned to capitalize on Japan’s intergenerational wealth transfer megatrend – The company continues to demonstrate positive growth momentum as evidenced by the double-digit topline growth in Q1-4 FY12/24.</li><li>The recent Chester Group acquisition should reinforce its position to ride the powerful trend in Japan’s aging demographics and intergenerational wealth transfer.</li><li>We think the company’s strategic approach towards allocating capital to the growth of the business while minimizing shareholder dilution through share buybacks demonstrates a commitment to shareholder value and financial discipline.</li></ul>

Well positioned to capitalize on Japan’s intergenerational wealth transfer megatrend – The company continues to demonstrate positive growth momentum as evidenced by the double-digit topline growth in Q1-4 FY12/24.The recent Chester Group acquisition should reinforce its position to ride the powerful trend in Japan’s aging demographics and intergenerational wealth transfer.We think the company’s strategic approach towards allocating capital to the growth of the business while minimizing shareholder dilution through share buybacks demonstrates a commitment to shareholder value and financial discipline.

Aoyama Zaisan Networks Company (8929 JP) - Laying the Groundwork for Sustained Growth

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Japan Experts, Extraordinary Performance
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Toyobo (3101 JP) - Strong Profit Growth Despite One-Off Costs

Q3 FY3/25 results showed strong OP recovery (+23.3% YoY), fuelled by price hikes, volume expansion, and cost reduction efforts.

Astris Advisory Japan

Geniee (6562 JP) - SaaS Drives Accelerating Growth, M&A Adds Momentum

Geniee delivered accelerating double-digit growth in sales (+40.6% YoY) and normalized OP (+50.8% YoY) with its Q1-3 FY3/25 results.

Astris Advisory Japan

Sodick (6143 JP) - Signalling a Positive Shift

Q1-4 FY12/24 results were significantly ahead of guidance and a positive surprise, showing a solid recovery YoY with 9.7% sales growth YoY and a...

Astris Advisory Japan

Restar (3156 JP) - Positioning for Future Demand Upturn

Q1-3 FY3/25 results underlined Restar’s positive sales growth profile (+11.2% YoY) driven by its roll-up M&A strategy, a strong demand environment...

Astris Advisory Japan

Aoyama Zaisan Networks Company (8929 JP) - Laying the Groundwork for Sustained Growth

The recent Chester Group acquisition should reinforce its position to ride the powerful trend in Japan’s aging demographics and intergenerational...

Astris Advisory Japan