Ahead of its FY24 Q2 results on 31 Oct, Lindsay Whipp outlines the key drivers for TIS, with eyes on whether the order book has improved to provide a potential calayst for the shares – shares of which are on undemanding valuations, despite the 20% YTD gain in the share price.
When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to...
TIS Inc has underperformed its peers amid volatility in the company’s order book. However, it is a steady ship sailing in fair winds. Sales and OP are rising steadily, while the system integrator is well-positioned for long-term growth. All this on an EV/OP of just over 10x.
The FY23 (Mar yr-end) Q2 earnings season is now over for Japan’s system integrators and network infrastructure companies. Analyst Lindsay Whipp discusses the main takeaways from their results and highlights where it leaves them in relation to their earnings growth potential and valuations.
According to Bloomberg, Japan’s six listed mid-tier IT vendors – that’s NRI (4307 JT), CTC (4739 JT), TIS (3626 JT), SCSK (9719 JT), Biprogy [was Nihon Unisys] (8056 JT) and NS Solutions (2327 JT) – reported 2Q FY22 orders of ¥716bil (+12.4% YoY). The YoY increase, down slightly from the +13.1% YoY growth figure seen in the 1Q FY22 period, Pelham Smithers looks at the relative performance of mid-tier IT vendor orders.
Japanese SaaS and small to mid-sized IT company stock prices have taken huge hits since the market sell off started in mid-November. We take a look at a range of companies and how attractive they are looking now valuations have tumbled.
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 ...
Analyst Lindsay Whipp initiates on mid-sized enterprise software company TIS. She explains how TIS is set to benefit from IT system upgrades, SaaS, the cloud and storage, AI, blockchain and 5G; and points out that, because TIS puts out conservative forecasts, it is a) cheap and b) tends to be overlooked by investors, so creating an opportunity.
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