The general evaluation of SHISEIDO (JP), a company active in the Personal Products & Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 4, 2022, the closing pri...
Although the Japanese economy, politics and stock market seem to be where they were this time last year, there is a seismic shift going on in the way the Japanese stock market behaves that could make investing in Japan in 2022 quite different to previous years. We look at how and why this shift has taken place and what it means for investing in Japan in the coming year.
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....
Summary Ci:z Holdings Co Ltd - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights CI:Z Holdings Co., Ltd. (Ci:z Holdings) is a manufacturer and supplier of cosmetics, health food and beauty products. Its product portfolio includes moisturizing, cleansing, makeup, serum...
Summary Unilever NV - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Unilever NV (Unilever) is a producer and marketer of fast moving consumer goods. The company’s product portfolio comprises food, beverages, home care products, and health and wellbeing products. U...
Opportunities in Europe, Japan As markets pull back amid the tariff saga we continue to believe this is an attractive time to add exposure. This view is supported by the technicals with all major global indexes (MSCI ACWI, ACWI ex-U.S., EAFE, and EM) pulling back to their respective 200-day moving averages... see charts below. • Actionable Sectors: Services and Consumer Staples in Europe and Japan. We often view the Services Sector as a defensive way to invest in Technology. We also highlig...
The global beauty industry has been a rare pocket of growth in the broader consumer landscape, growing at a roughly 4% rate over the last decade while other consumer goods firms have been plagued by lackluster volume, pricing pressure in categories facing secular declines, and heightened competition from niche players and private-label fare. We contend that several characteristics inherent to the beauty space, including a relatively price-insensitive consumer base, have helped these firms remain...
After nine months of the year, Shiseido is performing in line with our forecasts and we are reiterating our narrow moat rating and JPY 6,900 fair value estimate. Management’s full-year guidance is below our estimates, but it looks conservative and we are not making major changes to our estimates. We continue to think that management’s 2020 targets are achievable but we believe this is priced into the market price, which we regard as being slightly overvalued. As we had expected, growth in t...
After nine months of the year, Shiseido is performing in line with our forecasts and we are reiterating our narrow moat rating and JPY 6,900 fair value estimate. Management’s full-year guidance is below our estimates, but it looks conservative and we are not making major changes to our estimates. We continue to think that management’s 2020 targets are achievable but we believe this is priced into the market price, which we regard as being slightly overvalued. As we had expected, growth in t...
After nine months of the year, Shiseido is performing in line with our forecasts and we are reiterating our narrow moat rating and JPY 6,900 fair value estimate. Management’s full-year guidance is below our estimates, but it looks conservative and we are not making major changes to our estimates. We continue to think that management’s 2020 targets are achievable but we believe this is priced into the market price, which we regard as being slightly overvalued. As we had expected, growth in th...
Shiseido appears well on track to meet our full-year EBIT estimate of JPY 125 billion. At the halfway point of 2018, it is tracking slightly behind our 14% revenue growth assumption and comfortably ahead of our 11% EBIT margin forecast. We are maintaining our estimates in light of the recent strength of the Japanese yen, particularly against the Chinese renminbi, as this could slow inbound tourist volumes in the later part of the year. We remain skeptical about whether Shiseido's current growth ...
Shiseido appears well on track to meet our full-year EBIT estimate of JPY 125 billion. At the halfway point of 2018, it is tracking slightly behind our 14% revenue growth assumption and comfortably ahead of our 11% EBIT margin forecast. We are maintaining our estimates in light of the recent strength of the Japanese yen, particularly against the Chinese renminbi, as this could slow inbound tourist volumes in the later part of the year. We remain skeptical about whether Shiseido's current growth ...
We are raising our fair value estimate for Shiseido to JPY 6,900 per share from JPY 6,200 following a stronger-than-expected first-quarter performance, which was due to very strong cross-border sales. Shiseido now seems likely to beat our initial 2018 assumptions for both revenue growth and EBIT margins, and we raise our estimates for both accordingly. Nevertheless, we remain skeptical about whether Shiseido's current growth rate is sustainable, and we expect growth to fade to the midsingle digi...
Narrow-moat Shiseido’s fiscal 2017 results were in line with the new guidance announced on Feb. 7, but 24% and 20% higher than its previous guidance and our forecast, respectively, thanks to the 4.4-percentage-point margin expansion, driven by a better-than-expected product mix. Encouragingly, Shiseido’s ex-tourist domestic sales and Asian sales continued to outperform overall market growth, supported by the firm’s brand equity in the prestige cosmetics space, which is its primary moat sou...
PSA Today Feb 16: Japan Market Comment by Pelham Smithers, Joel Scheiman, William Nestuk and Thao NguyenNikkei ¥21,720.25 (+¥255.27/ +1.19%); Topix ¥1,737.37(+¥18.10 / +1.05%); ¥/$105.80Tags: iStyle (3660 JP), Kitanotatsujin (2930 JP), Shiseido (4911 JP), Capcom (9697 JP), NEC (6701 JP), Cyberdyne (7779 JP), Daiwa House (1925 JP), Mitsui Chemical (4183 JP) Bayer (BAYN GR), Daikin (6367 JP), Start Today (ST, 3092 JP)Main Points at a Glance • Japanese shares higher, led by domestic demand names • ...
Although we raised our earnings forecast for narrow-moat Shiseido in May and anticipated upward revision for the company’s full-year guidance, the second quarter’s 5.5-percentage-point improvement in the firm's operating margin still materially beat our expectations, owing to a better product mix and efficient marketing investment. We believe Shiseido’s brand is finally regaining momentum in Asia after its huge underperformance in the past decade, as evidenced by the market share gain and ...
Although we raised our earnings forecast for narrow-moat Shiseido in May and anticipated upward revision for the company’s full-year guidance, the second quarter’s 5.5-percentage-point improvement in the firm's operating margin still materially beat our expectations, owing to a better product mix and efficient marketing investment. We believe Shiseido’s brand is finally regaining momentum in Asia after its huge underperformance in the past decade, as evidenced by the market share gain and ...
We raise narrow moat-rated Shiseido’s fair value estimate to JPY 3,000 from JPY 2,800 as we revise up our forecast of the company’s travel retail business, as well as the inbound tourists’ contribution to its domestic sales. After meeting the company, we confirmed management's strategy to focus on prestige products and travel retail business has been effective in bringing back the company’s sales momentum and improving its margin. The company is likely to raise its full-year guidance aft...
We raise narrow moat-rated Shiseido’s fair value estimate to JPY 3,000 from JPY 2,800 as we revise up our forecast of the company’s travel retail business, as well as the inbound tourists’ contribution to its domestic sales. After meeting the company, we confirmed management's strategy to focus on prestige products and travel retail business has been effective in bringing back the company’s sales momentum and improving its margin. The company is likely to raise its full-year guidance aft...
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