Functional food demand driven by Asia's aging population leads to healthy long-term growth.
Narrow-moat Meiji’s third-quarter results came in below our estimates and seem to fall short of the firm’s internal targets. Given some positive progress of the probiotic yogurt and new drug sales in the fourth quarter, the company has maintained its full-year guidance. While we are encouraged by the sales recovery of the high-margin probiotic yogurt, a category vital to our thesis of margin expansion, we are concerned that a halt in drug demand prior to the National Health Insurance, or NHI, pr...Meiji Holdings is a holding company based in Japan. Co. and its affiliates are mainly engaged in the manufacture and sale of confectionery, dairy products and pharmaceuticals. Co., through its subsidiaries and affiliates, has two business segments: food and medicinal drug. The Food segment provides confectionery, ice cream, sugar, market milk, milk powder, condensed milk, butter, cheese, beverage, health food and drug store-oriented pharmaceutical products. The Medicinal Drug segment provides ethical pharmaceuticals, as well as agricultural chemicals and veterinary drugs.
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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