Budget gym operator Curves is benefiting from the MHLW’s push to encourage people to get fit, with the government agency suggesting a visit to a Curves gym on its website. Several advertising promotions are also proving successful. This has prompted analyst Hiroyuki Terada to revise up his FY25 and FY26 OP forecasts.
In light of karaoke operator Koshidaka’s strong Q4 performance, analyst Hiroyuki terada has adjusted his OP forecasts for FY25 and FY26 up, mainly due to stronger same store sales and an acceleration of new store openings. We also introduce our forecasts out to FY27 as the firm has released its mid-term plan. Management is guiding for a payout ratio of 35% which we expect can generate at DPS of Y44, so offers an attractive dividend yield of 3.7%.
Several of the small-cap companies analyst Hiroyuki Terada covers will be reporting their quarterly results from 10 October. Here, we provide a snapshot of our forecasts, vs company guidance and/or consensus estimates, and follow with details of KPIs.
PSA Leisure Facilities: Curves (7085 JT) – New Services Launched via Franchises Analyst Hiroyuki Terada revises up his earnings model for FY24 and FY25 mainly due to Protein Supplement & Healthy Beauty product sale prospects, and new services
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.
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