PSA Retail: Treasure Factory (3093 JT) – Rising Inbound Tourists Could Be ASP Driver
Analyst Hiroyuki Terada provides feedback from his discussion with Treasure Factory post the release of its FY23 results. He remains positive on the outlook thanks to the rising number of tourists and provides forecasts out to FY26 that suggest valuations are undemanding.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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