Q2 was a stable quarter when compared to Q1 overall. Market GMV grew by c.10% YoY, like in Q1 and market share were broadly stable too. We continue to think that the fundamentals are strong but the short-term is likely to remain challenging.
ZOZO has reported a solid set of Q1 results with all KPIs and financial metrics ahead of our expectations. During the call, ZOZO announced a change in their shipping cost policy that is expected to offset some impact from cost increases this year.
ZOZO (JP), a company active in the Apparel Retailers industry, slightly increases its general evaluation. The independent financial analyst theScreener just confirmed the stock market behaviour of the title as moderately risky. At the fundamental level, theScreener confirms the rating of 1 out of 4 stars; given the more favourable environment, the title's overall rating is upgraded to Neutral even if it remains under pressure. As of the analysis date February 1, 2022, the closing price was JPY 3...
Q3 was a slightly slower quarter overall for the Japanese e-Commerce companies under our coverage, but trends remain generally good. We stay constructive on this space as fundamentals remain good in our view. We remain cautious on Rakuten, because of its mobile business.
We hosted a small group call with ZOZO IR. Following the call we see the continued likelihood of strong revenue and profit growth, well ahead of market expectations. Our view remains that the stock is attractive on this basis, and retain our Buy recommendation.
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....
Pelham Smithers presents his strategy for Q3 2021 and the changes to PSA's stock Focus List Table of Contents Overview 3 Background 4 Valuations & Value 5 The Case for “Muddle Through” 6 Consumer Spending 7 The Labour Market 7 The Currency and the Carry Trade 8 The BoJ and Policy 9 Japan’s Stuttering Economy 10 Stock Performance and Earnings Expectations 12 Catalysts: Digital Transformation, Semiconductors, Price Hikes ...
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