Issuu on Google+

IND-X Securities - Japanese Results, Revisions & Ratings Roundup – Wednesday, 04 July 2012 #Results –

code

latest announcement period

name

7512

2011:C1

2678

2012:A

8267

sales

y/y

OP y/y

RP y/y

NP y/y

%ofNP4'cast

AEON HOKKAIDO C

37,801

-3.6%

410.2%

1411.5%

390.4%

ASKUL CORP

212,932

8.0%

23.5%

23.3%

326.7%

2013:Q1

AEON CO LTD

1,326,481

24.0%

9.1%

18.2%

127.3%

18.6%

7594

2012:C1

MARUKA MACHINER

9,433

22.1%

137.2%

124.6%

80.1%

26.3%

7421

2012:A

KAPPA CREATE CO

92,628

0.4%

-27.6%

-29.9%

19.9%

90.2%

8273

2012:A

IZUMI CO LTD

491,955

2.7%

11.3%

12.4%

11.3%

76.3%

9787

2012:A

AEON DELIGHT CO

219,797

28.6%

14.4%

14.0%

6.4%

79.4%

9846

2012:A

TENMAYA STORE C

77,137

-3.6%

21.8%

34.3%

4.9%

41.0%

9946

2012:A

MINISTOP CO LTD

122,209

7.3%

0.9%

0.3%

-9.2%

88.5%

6474

2012:S1

NACHI-FUJIKOSHI

85,173

7.9%

-17.1%

-19.8%

-48.4%

42.0%

#Revisions –

code

name

op inc

cur

net

eps

co f'cst per

mkt cap [Ybn]

industry subgroup

8267

AEON CO LTD

=

=

=

=

11.31

797.24

Retail-Misc/Diversified

2678

ASKUL CORP

=

=

+++

+++

12.52

53.84

Retail-Catalog Shopping

6474

NACHI-FUJIKOSHI

- -

- -

---

---

12.66

79.74

Metal Processors&Fabrica

9647

KYOWA ENGINEERI

=

=

=

=

0.62

Engineering/R&D Services

#6474 NACHI-FUJIKOSHI – reported half-year results today – revenue up and beat f’casts slightly, but OP, and Net Income missed. Management have also lowered their f’casts for the full year: net income by 37%. The stock has been struggling as the bearing-makers have been under investigation and indicted by the authorities over price-fixing. Will Nachi-Fujikoshi’s share price hold above the Y300 “support?” level? It trades as 1.3x book, 12.6x co ests, and 8.9x Nov 2013 TK ests. Intra-day the stock fell 1.2% in the AM on 914K shares, then another 2.4% on 2.5mn shares after the news in the PM.

#Reporting tomorrow – 05/07/2012 {FIFW 3382 Equity GUID<GO>} SEVEN & I HOLDIN

hilary.persent@indxsecurities.com

175.44 eps f’cast

1


JULY042012RESULTS