Japan Research
Japan coverage is active, beginning with a fully refreshed company record. Additional companies will enter only after current filings, normalized earnings, price, valuation and portfolio relevance are rechecked.
Active company coverage
1 refreshed JPX company page is currently published.
Japan Elevator Service Holdings
Accumulate selectively at ¥1,677.5, with a 9%–12% base-case IRR.
Withheld for now
A one-company ranking would create false precision. Publication begins after a comparable multi-company set is refreshed.
Japan Elevator Service Holdings
An elite domestic service compounder with mandatory recurring demand, only about 11% of a still OEM-dominated Japanese market and demonstrated route-density operating leverage. At ¥1,677.5, roughly 36.6x management’s implied FY2027 EPS, the valuation supports measured accumulation rather than an indiscriminate full position: the base case requires continued high-single-digit to low-double-digit contract growth, a 20%+ operating margin and a sustained premium multiple.
Why JES qualifies for publication
- FY2026 results and FY2027 guidance were refreshed.
- Maintenance, modernization and margin mechanisms were separated.
- Historical valuation and a 33–34x risk-off floor were tested.
- OEM competition and contradictory evidence were recorded.
- Bear, base and bull returns use a dated yen price.
What comes next
- Monitor JES first-quarter FY2027 results on 6 August 2026.
- Migrate additional Japan companies using comparable price dates.
- Publish the JPX ranking only after normalization is consistent.
- Keep yen sensitivity and portfolio role explicit for each company.
Publication discipline remains unchanged
The first current Japan page does not make earlier chat conclusions current. Each future company must still pass the same filing, valuation, evidence and revision-history review.
Browse all published companies →