Morningstar - HOSHIZAKI Corp. (6465) Hoshizaki Needs More Time to Investigate Misconduct; Deadline to Avoid Delisting Is Dec. 27

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Morningstar

Shanshan Wei, CFA

EUR 100.00 For Business Accounts Only

Hoshizaki Needs More Time to Investigate Misconduct; Deadline to Avoid Delisting Is Dec. 27

On Dec. 14, wide-moat Hoshizaki announced that the company is again unable to report its September quarterly results. As per our previous note, the company was investigating misconduct in one of its subsidiaries, based on information provided by a whistleblower, and it had planned to report details, along with the September quarter result numbers by Dec. 14.Â While the company mentioned on Dec. 6 that there is no substantial impact on reported numbers as a result of the investigation, additional...

17/12/2018 13 EN

Underlying

HOSHIZAKI Corp.

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.

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JP3845770001 Japan

Provider

Morningstar

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.

We have operations in 27 countries.

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Analysts

Shanshan Wei, CFA

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HOSHIZAKI sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of HOSHIZAKI (JP), active in the Durable Household Products industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 29, 2021, the closing price was JPY 9,560.00 and its target price was estimated at JPY 8,437.74.

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Morningstar | Revise Hoshizakiâ€™s Stewardship Rating to Poor; It Needs to Establish Sufficient Corporate Governance

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Hoshizaki Needs More Time to Investigate Misconduct; Deadline to Avoid Delisting Is Dec. 27

HOSHIZAKI sees a downgrade to Slightly Negative on account of less fundamental stars

UAFRS vs As Reported Weekly Highlights - Asia - 2020 08 14

Morningstar | Revise Hoshizakiâ€™s Stewardship Rating to Poor; It Needs to Establish Sufficient Corporate Governance

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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