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SBS Holdings --- NSK Logistics enters as an SBS Group company.
SBS Holdings <2384> announced on the 1st that it has acquired 66.61% of the common stock of NSK Logistics, a logistics subsidiary of Nippon Seiko <6471>. As a result, NSK Logistics will change its name to "SBS NSK Logistics" as of the 1st. NSK Logistics was established in August 1999 with 100% investment by NSK, focusing on domestic and international business of the NSK Group as its business area. As a logistics function company, it includes transportation, storage, cargo handling, and packaging.
Nikkon Gold HD, Morinaga Confectionery, etc. (additional) Rating
Upgrade - Bullish Code | Stock Name | Securities Company | Previous | After Change | ------ | -------------- | ------------ | -------------- | -------------- | <9069> | Senko GHD | Mizuho | "Hold" | "Buy" | Downgrade - Bearish Code | Stock Name | Securities Company | Previous | After Change
Rating [security companies rating]
Upgrade - Bullish Code | Stock Name | Securities Company | Before | After | ------|------------|----------|--------------|--------------|<9069>| Senko GHD | Mizuho | "Hold" | "Buy" | Downgrade - Bearish Code | Stock Name | Securities Company | Before | After | ------|-----
SBHD Research Memo (10): Aim to achieve stable implementation of dividends and improvement of dividend levels according to performance.
■Shareholder Returns Regarding shareholder returns, SBS Holdings <2384> has a basic policy of stable dividend payment and improving the dividend level according to performance. The dividend per share for the fiscal year ending December 2024 is planned to be increased by 5.0 yen from the previous year to 70.0 yen (dividend payout ratio 26.5%), with a planned 7th consecutive dividend increase. The intention is to gradually raise the dividend payout ratio to around 30% in the future, aiming for stable and continuous dividend growth. (By: FISCO Guest Analyst Yuzo Sato)
SBSHD Research Memo (7): The achievement of sales target for the fiscal year ending in December 2025 hinges on the recovery of the logistics business and M&A.
SBS Holdings <2384> in the medium-term management plan aims to be a mega-venture that grows with "logistics x IT", solidifying its position as a top-tier industry player. It aims to meet the logistics needs of all customers, coexist with society, and become a trusted enterprise. The three-year medium-term management plan 'SBS Next Stage 2025' started in December 2023, with the management vision of 1) creating customer value through service delivery.
SBSHD Research Memo (5): By improving the capital efficiency through the utilization of a-reit etf liquidity scheme, financial health will be enhanced.
■ Performance Trends 3. Financial Condition and Management Indicators For the financial condition at the end of the second quarter of the fiscal year ending December 2024, the total assets increased by ¥10,909 million to ¥312,226 million compared to the end of the previous period. Looking at the main factors of increase and decrease, cash and deposits increased by ¥4,416 million and inventories increased by ¥2,782 million in current assets. In fixed assets, tangible fixed assets increased by ¥3,168 million and investment and other assets increased by ¥1,579 million, while intangible fixed assets such as goodwill and customer-related assets increased by 71 million yen.
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