Visional reported 3Q operating profits below consensus expectations due to elevated operating costs, though full-year guidance remains unchanged. Goldman Sachs maintains a Neutral rating with a revised price target of ¥8,500.
Key Takeaways
- 1.Visional's 3Q operating profit of ¥6.8bn missed estimates due to higher-than-expected operating expenses.
- 2.BizReach sales growth decelerated to 13% yoy due to tougher comparisons.
- 3.Goldman Sachs lowered the 12-month target price to ¥8,500 from ¥8,600 and maintained a Neutral rating.
Table of Contents
- Earnings: Misses expectations on upfront costs but progress in line with guidance; Neutral
- Our view on the stock
- Key Data
- GS Forecast
- GS Factor Profile
- Ratios & Valuation
- Growth & Margins (%)
- Price Performance
- Income Statement (¥ bn)
- Balance Sheet (¥ bn)
- Cash Flow (¥ bn)
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
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Authors
Norihiro MiyazakiRyohei Kurita
Securities
4194.T
Themes
Earnings MissAI Substitution RiskHiring Demand Trends
Regions
Asia PacificJapan