The US market has been good to Japanese game developers, so far, in 2025. Pelham Smithers updates us on what is performing well in the charts and what implications it has for the upcoming earnings season. Several companies have seen their shares rise April-to-date, so the FY25 outlook will be closely watched.
While technically the Q2 performance was a “beat”, it fell short of consensus at ¥5.63bil. This means that the firm has a lot of heavy lifting to do in the FY24 H2 if it is to hit its full- year OP target of ¥30bil. Pelham Smithers discusses.
Last week, during trading hours on 26 Aug, it was announced that the investment vehicle for the Erikawa family’s holding in Koei Tecmo [KT], Koyu Holdings, has acquired 3.36mil more shares, taking the total position to 179.2mil (53.3% of shares outstanding). Pelham Smithers suggests that a management buyout is on the cards. If so, he provides insights into what might happen if the company is taken private.
Koei Tecmo (3635 JT) slashed its FY23 (Mar yr-end) OP forecast to ¥27bil from ¥37.5bil, but has raised its NP forecast to ¥32bil from ¥31bil, due to a stronger-than-expected performance from the non-operating account. Pelham Smithers discusses.
Upcoming game Rise of the Ronin is potentially Koei Tecmo’s biggest selling console game ever. The game showcases the skills in designing combat scenes of storied Tecmo studio Team Ninja, while bringing overall game development for the firm up another level. While we’d rather the asset management business be spun off, profits at the non-operating level are on the up.
The global video games market has improved since the start of the year and 2023 now looks like being an "up" year, after the retrenchment in 2022. However, recent quarterly results suggested Japanese video games companies are struggling to take advantage of this. We look at why conditions are improving, and which Japanese firms are keeping pace and which aren't.
At the beginning of every year we publish our PSA Perspective, a report intended as a long shelf-life look at the year ahead. This year Pelham Smithers discusses Japan's economy, the outlook for the stock market, and some stand-out themes and developments for the year. These include the digital yen and the demise of live action entertainment in Japan. We also update our noted PSA Focus List of stocks. Table of Contents Overview 3 Background: 4 Japan’s Economic Outlook 5 Ja...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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