Broadcasting L, Kamakura Shobo, WSCOPE, etc.

Fisco Japan · Jun 14 15:12

＜3038＞神戸物産　3400　-99

大幅反落。前日に第2四半期の決算を発表、2-4月期営業利益は92億円で前年同期比17.9％増、市場予想は10億円近く上回ったとみられるが、月次動向の推移から見てサプライズにはつながっていないもよう。PB構成比などはやや伸び悩みだが、円安進行の影響は値上げなどでカバーできているようだ。通期計画310億円、前期比0.9％増の上振れ期待はより高まる方向だが、市場予想は350億円程度の水準でもある。

＜4194＞ビジョナル　6910　-1020

急落。前日に第3四半期の決算を発表している。累計営業利益は153億円で前年同期比53.2％増となり、通期予想は従来の160億円から172億円、前期比30.0％増に上方修正している。効率的な広告宣伝活動や投資計画の変更、コスト管理などの効果で収益は上振れとなっているようだ。上方修正値はコンセンサスを上回る水準だが、ビズリーチ事業の第3四半期売上水準などはマイナス視されているもよう。

＜4921＞ファンケル　2284.5　+400

ストップ高比例配分。現在33％を出資しているキリンHDが、年内にも完全子会社化を目指してTOBを実施すると報じられている。前日終値1884.5円に対し、3割のプレミアムをつけるとみられているもよう。同社でも「検討していることは事実」とするコメントを発表している。TOBプレミアムを織り込む動きが優勢となっている。なお、キリンHDは本日やや売り先行の展開に。

＜9743＞丹青社　956　+92

急伸。前日に第1四半期の決算を発表、営業利益は15億円で前年同期比87.2％の大幅増益となっている。据え置きの通期計画40億円、前期比3.0％増に対して、進捗率は37％の高水準に。企業の販促投資持ち直しなどで需要が回復、収益性重視の受注活動によって収益性も高まっているようだ。受注残高も大幅に拡大しており、通期業績の上振れ期待が高まる状況とみられる。

＜8142＞トーホー　3600　+470

急騰。前日に第1四半期の決算を発表、営業利益は20.1億円で前年同期比32.0％増となっている。上半期・通期計画ともに営業減益である中、想定以上の立ち上がりと捉えられる格好のようだ。インバウンド需要の増加などもあって外食産業への販売が堅調に推移、既存得意先のシェア拡大と新規開拓が奏功しているもよう。経費コントロール効果なども増益に寄与。大幅な業績上振れ期待が優勢となっている。

＜6619＞ WSCOPE　571　+80

ストップ高。前日に第1四半期の決算を発表、経常利益は9.4億円で同54.4％減となったものの、通期計画の8億円、前期比82.6％減を超過する状況となっている。営業利益は想定線での推移となったが、為替差益約4.6億円を計上したことで、営業外収益が想定以上に膨らむ形に。経常利益、純利益に関しては、大幅な上振れが見込める状況で、安値圏からの見直しの動きが優勢になっている。

＜6184＞鎌倉新書　458　-98

一時ストップ安。前日に第1四半期決算を発表、営業利益は1.4億円で前年同期比4.9％増となっている。通期計画は11億円、前期比34.8％増であり、想定以上に伸び悩むスタートになったと捉えられているようだ。成長事業と位置付けているアセットマネジメント事業と介護事業が伸び悩んだほか、新システム導入に伴う減価償却費増など先行投資負担なども重しとなったようだ。

＜3031＞ラクーンHD　606　-29

伸び悩んで大幅反落。前日に24年4月期決算を発表、営業益は5.7億円で前年同期比52.5％減となり、第3四半期決算時に下方修正した水準である5.5億円はやや上回った。一方、25年4月期は12.5億円で同2.2倍と急拡大を見込む。年間配当金も前期比6円増の20円。広告費など先行投資負担の減少を見込むが、従来の中計目標値では25年4月期営業利益は23.1億円であり、大幅増益へのサプライズは限定的。

＜6659＞メディアL　223　+50

ストップ高。世界で初めて、マイクロ波の実用回線上でIP/PTPを用いたSTL伝送の実証試験に成功したと発表しており、買い材料視される展開になっている。放送システムのIP化進展につながるものとして、今後の需要拡大が期待される状況となっているもよう。今回の実証試験はパートナーのオシロクォーツ社と共同で行い、実用性の確認がなされたようだ。

＜6982＞リード　693　+100

ストップ比例配分。トヨタランドクルーザー“250”の複数の外装部品の生産を受注し、量産を開始することになったと前日に発表している。SUBARU車以外の大口受注は初めてとなるもようだ。中期的な業容拡大にもつながっていくとの期待感が先行している。また、今後はアニールレス技術への展開にとっても、ポジティブな影響が想定される状況とみられる。

＜3038＞ Kobe Bussan 3400 -99

A sharp decline. Financial results for the 2nd quarter were announced the day before, and operating income for the fiscal year ending February-April was 9.2 billion yen, up 17.9% from the same period last year, and it seems that it has exceeded market expectations by nearly 1 billion yen, but it seems that it has not led to surprises in terms of monthly trends. The PB composition ratio etc. are slightly sluggish, but it seems that the effects of the depreciation of the yen have been covered by price increases, etc. The full-year plan is 31 billion yen, and upward expectations are rising even higher, but market expectations are also at a level of around 35 billion yen.

＜4194＞ VISIONAL 6910 -1020

Plummeting. Financial results for the 3rd quarter were announced the day before. Cumulative operating income was 15.3 billion yen, up 53.2% from the same period last year, and the full-year forecast was revised upward from the previous 16 billion yen to 17.2 billion yen, an increase of 30.0% from the previous fiscal year. Earnings seem to be rising due to the effects of efficient advertising activities, changes in investment plans, cost management, etc. The upward revised value is above consensus, but it seems that sales levels etc. for the 3rd quarter of the BizReach business are viewed as negative.

＜4921＞ FANCL 2284.5 +400

Stops are highly proportional. It is reported that Kirin HD, which currently has a 33% investment, will implement TOB with the aim of becoming a wholly owned subsidiary by the end of the year. It seems that a 30% premium will be added to the previous day's closing price of 1884.5 yen. The company also announced comments stating that “what we are considering is true.” The movement to incorporate TOB premiums has become dominant. Note that Kirin HD is being sold slightly ahead of schedule today.

＜9743＞ Tanseisha 956 +92

rapid expansion. Financial results for the first quarter were announced the day before, and operating profit was 1.5 billion yen, a significant increase of 87.2% compared to the same period last year. The progress rate is at a high level of 37% compared to the unchanged full-year plan of 4 billion yen, an increase of 3.0% from the previous fiscal year. Demand has recovered due to a pick-up in corporate sales promotion investments, etc., and it seems that profitability is also increasing due to order acceptance activities with an emphasis on profitability. The balance of orders received has also expanded drastically, and expectations for an increase in full-year results seem to be growing.

＜8142＞ Toho 3600 +470

skyrocketing. Financial results for the first quarter were announced the day before, and operating profit was 2.01 billion yen, up 32.0% from the same period last year. While operating profit is declining in both the first half and full-year plans, it looks like it can be seen as a rise above expectations. Sales to the food service industry have remained steady due to an increase in inbound demand, etc., and it seems that market share expansion and new development of existing customers have been successful. Expense control effects also contributed to the increase in profit. Expectations for significant performance gains have prevailed.

＜6619＞ WSCOPE 571 +80

The stop is high. Financial results for the first quarter were announced the day before, and although ordinary profit was 940 million yen, down 54.4% from the same period, it exceeds the full-year plan of 800 million yen, an 82.6% decrease from the previous fiscal year. Operating income was on the expected line, but since exchange margin of approximately 460 million yen was recorded, non-operating income increased more than expected. As for ordinary income and net profit, it is in a situation where a significant increase can be expected, and the movement to review from the low price range is dominant.

＜6184＞ Kamakura Shinsho 458 -98

A temporary stop is cheap. Financial results for the first quarter were announced the day before, and operating profit was 140 million yen, up 4.9% from the same period last year. The full-year plan is 1.1 billion yen, an increase of 34.8% from the previous fiscal year, and it seems that the start was sluggish than expected. In addition to sluggish growth in the asset management business and nursing care business, which are positioned as growth businesses, it seems that upfront investment burdens, such as increased depreciation and amortization costs associated with the introduction of the new system, have also become heavy.

＜3031＞ Raccoon HD 606 -29

Growth was sluggish and fell sharply. Financial results for the fiscal year ending 24/4 were announced the day before, and operating income was 570 million yen, down 52.5% from the same period last year, slightly above 550 million yen, which is the level revised downward at the time of the 3rd quarter financial results. Meanwhile, the fiscal year ending 25/4 is expected to rapidly expand 2.2 times the same amount to 1.25 billion yen. The annual dividend is 20 yen, an increase of 6 yen from the previous fiscal year. Upfront investment burdens such as advertising costs are expected to decrease, but according to the conventional mid-term target value, operating income for the fiscal year ending 25/4 is 2.31 billion yen, and surprises for a drastic increase in profit are limited.

＜6659＞ Media L 223 +50

The stop is high. For the first time in the world, it was announced that a demonstration test of STL transmission using IP/PTP was successful on a microwave practical line, and it is a development that is viewed as a purchasing material. It seems that demand is expected to expand in the future, as it will lead to progress in IP-based broadcasting systems. This demonstration test was carried out in collaboration with our partner Oscilloquartz, and it seems that practicality has been confirmed.

＜6982＞ lead 693 +100

Stop proportional allocation. Production orders for multiple exterior parts for the Toyota Land Cruiser “250” have been received, and it was announced the day before that mass production would begin. It seems that this is the first time that large orders other than SUBARU cars have been received. Expectations are ahead that it will also lead to medium term business expansion. Also, in the future, it seems that a positive impact is expected on the development of anneal-less technology.

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メディアL、鎌倉新書、WSCOPEなど

Broadcasting L, Kamakura Shobo, WSCOPE, etc.

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