Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

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

Raccoon Holdings, Inc. / Equity Bottom-Up

RACCOON HOLDINGS, Inc. operates online retailing platform businesses. The Company provides super delivery, cloud-based ordering system, payment, assurance, and matching service between manufacturers and brands. RACCOON HOLDINGS retails apparels and other accessories.

<ul><li>Revenue increased by 2.7% YoY to JPY3.1bn, with EC business up 6.8% and Financial business down 2.6%.</li><li>Operating profit decreased 7.3% YoY to JPY575mn, with a 2.4pp rise in GPM and 4.3pp increase in SG&A ratio.</li><li>Financial business segment profit rose 7.2% YoY to JPY402mn, with external payments handled growing 11.2% YoY.</li></ul>

Revenue increased by 2.7% YoY to JPY3.1bn, with EC business up 6.8% and Financial business down 2.6%.Operating profit decreased 7.3% YoY to JPY575mn, with a 2.4pp rise in GPM and 4.3pp increase in SG&A ratio.Financial business segment profit rose 7.2% YoY to JPY402mn, with external payments handled growing 11.2% YoY.

Raccoon Holdings, Inc. (3031 JP): 1H FY04/26 flash update

DyDo GROUP HOLDINGS, INC. manufactures and sells a variety of beverages including coffee, green tea, fruit drink, and sports drink. The Company sells those products through vending machines and convenience stores.

<ul><li>Cumulative Q3 FY01/26 revenue was JPY185.0bn (+2.7% YoY), with operating profit at JPY5.2bn (-18.3% YoY).</li><li>Domestic Beverage business revenue fell 2.6% YoY to JPY110.2bn, with an operating loss of JPY1.2bn.</li><li>International Beverage business revenue rose 21.0% YoY to JPY48.3bn, achieving an operating profit of JPY6.1bn.</li></ul>

Cumulative Q3 FY01/26 revenue was JPY185.0bn (+2.7% YoY), with operating profit at JPY5.2bn (-18.3% YoY).Domestic Beverage business revenue fell 2.6% YoY to JPY110.2bn, with an operating loss of JPY1.2bn.International Beverage business revenue rose 21.0% YoY to JPY48.3bn, achieving an operating profit of JPY6.1bn.

Dydo Drinco Inc (2590 JP): Q3 FY01/26 flash update

Ajinomoto Co., Inc. produces and sells a variety of food products, including seasonings, edible oils, processed foods, beverages, and dairy products.  The Company also develops and manufactures pharmaceuticals, amino acids, and specialty chemicals.

<ul><li>Revenue in 1H FY03/26 was JPY738.9bn, a decrease of 0.7% YoY, impacted by foreign exchange effects.</li><li>Business profit in the Frozen Foods segment increased by 16.6% YoY to JPY30.1bn, driven by electronic materials.</li><li>Profit attributable to owners rose 2.0% YoY to JPY51.2bn, aided by exchange rate differences from Ajinomoto Althea sale.</li></ul>

Revenue in 1H FY03/26 was JPY738.9bn, a decrease of 0.7% YoY, impacted by foreign exchange effects.Business profit in the Frozen Foods segment increased by 16.6% YoY to JPY30.1bn, driven by electronic materials.Profit attributable to owners rose 2.0% YoY to JPY51.2bn, aided by exchange rate differences from Ajinomoto Althea sale.

Ajinomoto Co (2802 JP): Coverage Initiation, 1H FY03/26 flash update

CELSYS, Inc. provides application software and digital services. The Company operates creators support business, digital books support business and planning of middleware and contents services. CELSYS also offers painting and drawing app services.

<ul><li>Celsys reported cumulative Q3 FY12/25 sales of JPY7.0bn (+15.9% YoY), operating profit of JPY2.2bn (+39.0% YoY).</li><li>Celsys revised FY12/25 forecast: sales JPY9.3bn, operating profit JPY2.9bn, net income JPY1.4bn, citing strong subscription growth.</li><li>Creator Support segment sales JPY6.0bn (+19.4% YoY), driven by CLIP STUDIO PAINT upgrades and global expansion efforts.</li></ul>

Celsys reported cumulative Q3 FY12/25 sales of JPY7.0bn (+15.9% YoY), operating profit of JPY2.2bn (+39.0% YoY).Celsys revised FY12/25 forecast: sales JPY9.3bn, operating profit JPY2.9bn, net income JPY1.4bn, citing strong subscription growth.Creator Support segment sales JPY6.0bn (+19.4% YoY), driven by CLIP STUDIO PAINT upgrades and global expansion efforts.

CELSYS (3663 JP): Q3 FY12/25 flash update and revision of full-year forecasts 

Piala Inc. provides advertising and marketing services. The Company offers telemarketing, direct advertising consultancy, content development, and other related serivces. Piala serves customers in Japan.

<ul><li>Revenue reached JPY12.0bn, a 28.6% YoY increase, achieving 72.2% of the FY12/25 revised forecast. </li><li>Operating profit was JPY41mn, recovering from a JPY210mn loss in Q3 FY12/24, with improved client operations. </li><li>An extraordinary loss of JPY21mn was recorded due to withdrawing from the TONYMOLY business by subsidiary P2C Inc.</li></ul>

Revenue reached JPY12.0bn, a 28.6% YoY increase, achieving 72.2% of the FY12/25 revised forecast. Operating profit was JPY41mn, recovering from a JPY210mn loss in Q3 FY12/24, with improved client operations. An extraordinary loss of JPY21mn was recorded due to withdrawing from the TONYMOLY business by subsidiary P2C Inc.

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