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IND-X Securities - Japanese Results, Revisions & Ratings Roundup – Thursday, 05 July 2012 #Results –

code

latest announcement period

name

sales

y/y

OP y/y

RP y/y

NP y/y

4763

2013:Q1

CREEK & RIVER C

4,333

16.6%

376.7%

233.4%

5590.5%

21.9%

9720

2012:S1

HOTEL NEW GRAND

2,694

20.6%

197.3%

198.1%

192.7%

332.2%

2789

2013:Q1

KARULA CO LTD

1,881

9.5%

-4.0%

-5.6%

166.5%

29.2%

2918

2013:Q1

WARABEYA NICHIY

42,705

13.0%

-5.9%

3.4%

155.9%

34.6%

3382

2013:Q1

SEVEN & I HOLDI

1,207,028

27.9%

-1.4%

-1.9%

148.7%

21.0%

9948

2013:Q1

ARCS CO LTD

103,180

34.9%

29.3%

30.1%

107.1%

25.6%

9381

2013:Q1

AIT CORP

4,118

17.3%

12.3%

11.9%

-1.6%

20.9%

8251

2012:A

PARCO CO LTD

259,787

-1.9%

-0.5%

2.5%

-1.8%

83.1%

9974

2013:Q1

BELC CO LTD

31,905

9.0%

-22.8%

-22.5%

-11.5%

30.2%

3644

2013:Q1

1ST HOLDINGS IN

3,178

8.1%

-4.5%

-12.6%

-12.5%

26.6%

8923

2012:S1

TOSEI CORP

10,151

-5.1%

-16.9%

-17.3%

-25.0%

22.4%

7835

2012:A

WIZ CO LTD

2,021

-19.3%

-25.7%

-28.6%

-45.1%

7888

2012:A

SANKO GOSEI LTD

34,477

2.4%

7.7%

12.4%

-50.8%

77.7%

4361

2012:S1

KAWAGUCHI CHEMI

3,374

-4.9%

-41.8%

-44.9%

-51.2%

48.7%

4187

2012:S1

OSAKA ORGANIC C

10,775

-6.1%

-59.0%

-56.8%

-59.7%

46.3%

2471

2012:S1

S-POOL INC

2,551

-13.2%

349.8%

599.1%

-87.8%

8.1%

2290

2013:Q1

YONEKYU CORP

34,906

2.9%

-133.4%

-136.9%

-149.2%

%ofNP4'cast

#Revisions –

code

name

op inc

7888

SANKO GOSEI LTD

=

2789

KARULA CO LTD

=

9974

BELC CO LTD

3644

net

eps

+ +

=

=

5.05

4.54

Rubber/Plastic Products

=

=

=

7.25

1.91

Retail-Restaurants

=

=

=

=

7.90

23.75

Food-Retail

1ST HOLDINGS IN

=

=

=

+ +

8.29

19.47

Transactional Software

9381

AIT CORP

=

=

=

=

8.60

5.95

Transport-Services

2918

WARABEYA NICHIY

=

=

=

=

9.50

21.85

Food-Dairy Products

6489

MAEZAWA INDUSTR

- -

- -

- -

=

10.13

4.89

Machinery-General Indust

2471

S-POOL INC

=

=

=

=

11.24

0.70

Human Resources

4361

KAWAGUCHI CHEMI

+ +

+ +

=

+ +

11.31

1.24

Rubber&Vinyl

8923

TOSEI CORP

=

=

=

=

11.85

15.14

Real Estate Mgmnt/Servic

9948

ARCS CO LTD

=

=

---

- -

12.28

89.66

Retail-Misc/Diversified

3382

SEVEN & I HOLDI

=

=

=

=

13.96

2,163.81

Retail-Misc/Diversified

4763

CREEK & RIVER C

=

=

=

=

14.09

4.93

Human Resources

6866

HIOKI E E CORP

=

=

=

=

14.68

19.82

Electronic Measur Instr

2290

YONEKYU CORP

=

=

=

+ +

16.05

23.28

Food-Meat Products

4187

OSAKA ORGANIC C

=

=

=

=

20.21

9.84

Chemicals-Diversified

7835

WIZ CO LTD

105.39

1.05

Toys

++ + ++

cur

++ + ++

++ + ++

++ + ++

co f'cst per

mkt cap [Ybn]

industry subgroup

#3382 SEVEN & I – reported after the close – 1Q net income of Y32.59bn ie. +148.7% yoy and management has raised its net income f’cast for the full year by 19.4% to Y155bn. Seven & I has been on an unptrend since Dec 2009 and is now reaching the Y2500 ceiling not breached since early 2009. BBERG shows 13 BUYS : 6 HOLDS : 0 SELLS and an average target price of Y2839 or 16% above today’s Y2441 close. Seven & I trades at 1.22x book, 9.4% eROE and 13x Feb 2014 TK ests. The 2651/3382 relative has reached overbought levels and is due for a sell-off.

#Reporting tomorrow – 06/07/2012 06/07/2012 06/07/2012 06/07/2012

{FIFW {FIFW {FIFW {FIFW

8028 7453 8016 9983

hilary.persent@indxsecurities.com

Equity Equity Equity Equity

GUID<GO>} GUID<GO>} GUID<GO>} GUID<GO>}

FAMILYMART 225.43 eps f’cast RYOHIN KEIKAKU 399.02 eps f’cast ONWARD HOLDINGS 31.91 eps f’cast FAST RETAILING 800.25 eps f’cast

1


JULY052012RESULTS