$Fit Easy(212A.JP)$
FIT-EASY Analyst Report (IR, Stock, IPO) | Securities Research Center
Fit Easy has set a mission to “change the world by creating a new fitness culture,” and incorporates various amusement elements such as indoor simulation golf and private saunas, and is developing a fitness club “FIT-EASY (FIT-EASY)” where members can aim for health while having fun. Fit Easy has no consolidated subsidiaries and is a single segment of the fitness club operation business.
Fit Easy was established in 18/7, and 4 stores were simultaneously opened in Gifu and Aichi prefectures, where the headquarters are located, in September of the same year. After that, they proceeded with the opening of new stores under both direct management and franchise chain (hereinafter, FC) systems, and achieved direct management in 22/9, 100 stores in total, and 150 stores in 24/3.
As of the end of May '24, the number of stores is a total of 158 stores: 25 directly managed stores and 133 FC stores. The store opening area spans the whole country from Hokkaido to Kyushu, but the number of stores in the Chubu area...

$Cados(211A.JP)$
Cados Corporation Analyst Report (IR, Stock, IPO) | Securities Research Center
Cados Corporation first grasps requests from land owners, and carries out a “construction business” that designs and constructs distribution stores and “real estate business” that leases in-house buildings, starting from matching land owners with distribution companies such as drugstores, convenience stores (hereinafter, convenience stores), electronics retailers, and restaurants that are planning to open stores.
The construction business accounted for 80% of sales in the 23/7 fiscal year, and the real estate business accounted for 20%. The main business area of Cados Corporation is from Okayama prefecture to northern Fukuoka prefecture, centered around Yamaguchi prefecture.
As a construction business, Cados Corporation mainly designs and constructs distribution stores such as convenience stores, drug stores, restaurants, electronics retailers, and home centers, mainly in Yamaguchi and Hiroshima prefectures. Due to Cados Corporation's unique business model, Cados Corporation received orders as the main contractor, and construction was carried out by cooperative meetings...

$Asiro(7378.JP)$
Asiro Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Business description
・Asiro (hereafter, the company) is engaged in the media business that provides legal information and lawyer information on the internet, the HR business, which is a recruitment service for qualified lawyers, etc., and the insurance business that sells attorney fee insurance “Bennabi Lawyer Insurance,” and the media business accounts for over 90% of sales.
・The company's two subsidiaries are Asiro Small Amount Short-Term Insurance, which conducts insurance business, and Hittus, which began temporary staffing business in 23/11.
◆ Overview of financial results for the first half of the fiscal year ending 2014/10
・Sales revenue for the cumulative period of the second quarter of the 24/10 fiscal year (hereinafter referred to as the first half) was 2,126 million yen, up 43.1% from the same period last year, and operating loss of 41 million yen (operating profit of 120 million yen for the same period last year). While sales continued to increase due to an increase in the number of publication slots, strategic expenses such as advertising expenses were carried out in line with the plan, and impairment losses related to goodwill of 203 million yen (media business 136 million yen, insurance business 66 million yen) were recorded due to the acquisition of subsidiaries, resulting in operating losses.
◆ 10/24...

$Jig Jp(5244.JP)$
Jig.jp Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Business description
・The Jig.jp Group consists of 3 companies: Jig.jp and consolidated subsidiaries A Inc., and B Inc. Live streaming businesses, browser businesses, etc. for general consumers are carried out based on the corporate philosophy of “providing software closest to users and realizing a richer society,” and the live streaming business accounts for the majority of sales.
◆ Overview of financial results for the fiscal year ending March 31, '24
・Net sales for the 24/3 fiscal year were 12,247 million yen (up 16.6% from the previous fiscal year), and operating profit was 1,804 million yen (up 82.3% from the same period). The number of unique paid users who purchased paid items and provided support during live streaming steadily increased, and sales continued to increase, and effective operation of advertising costs and reduction of settlement fees contributed, resulting in an operating profit increase rate that exceeded the rate of increase in sales.
◆ Earnings forecast for the fiscal year ending 25/3
・The company plan for the 25/3 fiscal year is sales of 13,500 million yen (up 10.2% from the previous fiscal year) and operating profit of 2,000 million yen (up 10.8% from the same period). The number of unique users that continue to pay...

$Iceco(7698.JP)$
Isco Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Company Overview
・ICCO is engaged in food wholesaling (frozen business) and operating food supermarkets (supermarket business) specializing in ice cream and commercially available frozen foods.
◆ Financial results for the fiscal year ending March 24
・The financial results for the 24/3 fiscal year were net sales of 50,498 million yen (up 12.5% from the previous fiscal year) and operating profit of 452 million yen (up 285.9% from the same period). The supermarket business continued to struggle, but the frozen business performed better than expected against the backdrop of price increases and an increase in new store openings by client companies, resulting in an increase in profit that greatly exceeded the initial plan.
◆ Earnings forecast for the fiscal year ending 25/3
・Regarding financial results for the 25/3 fiscal year, ICCO plans sales of 54,000 million yen (up 6.9% from the previous fiscal year) and operating profit of 500 million yen (up 10.5% from the same period).
・The Securities Research Center (hereafter, the Center) predicted sales of 54,921 million yen (up 8.8% from the previous fiscal year) and operating profit of 535 million yen (up 18.3% from the same period) for the 25/3 fiscal year. The emergence of client companies in the frozen business...

$SBI Rheos Hifumi(165A.JP)$
SBI Leo Hifumi Analyst Report (IR, Stock, IPO) | Securities Research Center
1. Company Overview
・SBI Leo Hifumi is a holding company whose core subsidiary is Leos Capital Works, an asset management company that manages and sells “Hifumi” brand investment trusts such as “Hifumi Plus,” which boasts the largest total net assets among domestic investment trusts managed mainly in Japanese stocks.
・Contractor remuneration for mutual fund outsourcing operations accounted for 98.6% of operating revenue for the 24/3 period, making it a core business. The balance of assets under management at the end of the 24/3 period reached 1 trillion368.8 billion yen, of which 982.2 billion yen was sold through sales partners such as securities companies and banks.
2. Financial analysis
・Sales increased by an average of 17.8% per year from the 18/3 period (standalone) to the 24/3 period (consolidated) due to an increase in asset balances under management, etc. Meanwhile, the average annual growth rate of ordinary income during the same period remained at 8.1% due to an increase in the balance composition ratio of public offering mutual funds sold through sales partners and deterioration in operating income payment fee rates, etc...

$Broad-Minded(7343.JP)$
Broadmind Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Company Overview
・Broadmind mainly provides financial consulting services centered on life insurance for general income groups in their 20s to 40s with an annual household income of 3 million yen or more and less than 20 million yen.
◆ Financial results for the fiscal year ending March 24
・The financial results for the 24/3 fiscal year were net sales of 5,221 million yen (up 20.8% from the previous fiscal year) and operating profit of 722 million yen (up 16.7% from the same period). The company revised the company plan upward over two periods, 23/11 and 24/2, but it fell short of the level revised in February. However, to the point where the main life insurance agency business maintained an increase in sales on par with the previous fiscal year due to an increase in sales of savings insurance with high annualized insurance premiums, a drastic increase in sales in the real estate sales business contributed and maintained strong sales.
◆ Earnings forecast for the fiscal year ending 25/3
・Regarding financial results for the 25/3 fiscal year, Broadmind plans sales of 6,170 million yen (up 18.2% from the previous fiscal year) and operating profit of 820 million yen (up 13.5% from the same period).
・Securities Research Center...

$Global Style(7126.JP)$
Global Style Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Company Overview
・Global Style is an enterprise that plans and sells custom suits with “GINZA Global Style” as its core business category.
◆ Consolidated financial results for the 3rd quarter of the fiscal year ending 2014/7
・The financial results for the cumulative period of the 3rd quarter of the 24/7 fiscal year (hereafter, first half) were sales of 8,375 million yen (up 6.8% from the same period last year) and operating income of 436 million yen (down 21.2% from the same period). The opening of 5 new stores (excluding business type changes) contributed to the increase in sales. On the profit side, gross profit margin improved slightly from the same period last year, but an increase in store opening costs led to a decline in profit.
◆ Earnings Forecast for the Fiscal Year Ending July 24
・Regarding the 24/7 financial results, Global Style has left unchanged its initial plan of sales of 12,183 million yen (up 17.1% from the previous fiscal year) and operating profit of 744 million yen (up 12.8% from the same period).
・The Securities Research Center (hereafter, our center) predicted almost the same level as the company plan for the 24/7 period. 2...

$Sanei(6230.JP)$
SANEI Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Company Overview
・SANEI is a manufacturer specializing in plumbing products such as water taps, plumbing and drainage fittings, fittings, piping components, etc., and most of its sales are for housing.
◆ Financial results for the fiscal year ending March 24
・The financial results for the 24/3 fiscal year were net sales of 27,532 million yen (up 3.6% from the previous fiscal year) and operating profit of 1,975 million yen (up 117.9% from the same period). Although volume could not be increased due to a decrease in the number of newly built housing starts, sales price revisions penetrated more than expected, and along with an improvement in gross profit margin, profit increased above profit after the upward revision.
◆ Earnings forecast for the fiscal year ending 25/3
・Regarding financial results for the 25/3 fiscal year, SANEI is planning sales of 28,500 million yen (up 3.5% from the previous fiscal year) and operating profit of 2040 million yen (up 3.3% from the same period).
・The Securities Research Center (hereafter, the Center) predicted sales for the 25/3 fiscal year to be 28,500 million yen (up 3.5% from the previous fiscal year), the same amount as the SANEI plan, and operating profit was 2,092 million yen (up 5.9% from the same period), slightly higher than the company plan. Continuing from the previous fiscal year, sales prices...

$Valtes Holdings(4442.JP)$
Baltez Holdings Analyst Report (IR, Stock, IPO) | Securities Research Center
◆ Company Overview
・As a “total support company for quality improvement,” Valtes Holdings is an enterprise that provides services centered on software testing.
◆ Financial results for the fiscal year ending March 24
・The financial results for the 24/3 fiscal year were net sales of 10,362 million yen (up 14.4% from the previous fiscal year) and operating profit of 840 million yen (down 13.3% from the same period). The achievement rate for the initial company plan remained at 92.7% of sales and 68.5% of operating profit. Project managers and sales expansion could not keep up with business expansion, and profit declined because growth was sluggish mainly in the software testing service business, and costs were spent on countermeasures.
◆ Earnings forecast for the fiscal year ending 25/3
・Regarding financial results for the 25/3 fiscal year, Valtes Holdings plans sales of 11,500 million yen (up 11.0% from the previous fiscal year) and operating profit of 980 million yen (up 16.6% from the same period).
・Securities Research Center...