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02/Dec/2022 – Discussion material to MatsukiyoCocokara & Co. for further upside

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Hibiki Path Advisors(”Hibiki”)made a presentation (link below) on 2 December, to MatsukiyoCocokara & Co.(”MatsukiyoCocokara”).

MatsukiyoCocokara announced an upward revision to its earnings forecast, adding to its record high before inbound demand from China, a major pillar of its customer base, had even returned, as clearly shown in its 18 November financial results briefing material, by fully exploiting the synergies from the integration of the two companies. While many companies in the drugstore industry have fallen into negative performance since the beginning of 2022, the company’s stock price performance has increased 37%, and with a market cap of over 800 billion yen, it has solidified its position as No.1 in Japan, both in name and reality.
The synergies from the management integration have exceeded our expectations, and motivation within the company appears to be higher than ever. We have high expectations that the integration of the customer base, which is often a challenge in the promotion of digital marketing, will organically connect the digital and real customer contact points, which is one of our unique strengths, and become an engine for further growth.

We strongly support MatsukiyoCocokara’s efforts to become “No.1 in Asia in the field of beauty and health” by taking advantage of the stock market to further expand its businesses against the background of its high valuation. From the perspective of an investor tracking the company for many years, we reported on points that market participants are likely to be concerned about and the current fierce acquisition competition in the U.S. and had a frank discussion with the management team.

This presentation does not constitute an offer, recommendation or solicitation to buy or sell any security or enter into any other transaction. Hibiki does not purport to provide any investment, financial, legal or other expert advice or recommendation in this document.

Discussion material to MatsukiyoCocokara & Co. for further upside