Impressive Domestic Revenue Growth Supports the Strength of Hoshizaki’s Nationwide Service Network
Wide-moat Hoshizaki’s first-quarter results were fairly in line with our forecast, and the share price surged approximately 4% after the announcement, as the numbers delivered relief to the market. While the challenging business environment in the U.S. seems to continue, Hoshizaki controlled the cost properly to maintain the profitability, and revenue growth in other regions was impressive. Overall, we believe that the company made a solid start to meeting our operating income forecast of JPY 37...Hoshizaki and its subsidiaries are mainly engaged in the research, development, manufacture, sale and maintenance of kitchen equipment for industrial use. Co.'s principal products are ice makers including fully-automatic and large-scale ice makers, cooking electrolyzers, meal service carts, high humidity refrigerators, frozen refrigerators, cold salt water system, washing electrolyzers, dish washers, ice dispensers, tea servers, cooking appliances including electromagnetic cookers, electronic frying equipment and microwaves, among others. Co. provides its products in Japan as well as North and South America, Europe, Asia and other regions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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