Professional
Added to YB: 2026-04-20
Pitch date: 2026-04-15
8697.T [bullish]
Japan Exchange Group, Inc.
-2.76%
current return
Author Info
ASB Partners invests in cheap, growing, and durable stocks, and shares writeups via their newsletter. Sign up for the newsletter.
Company Info
Japan Exchange Group, Inc. operates as a financial instruments exchange holding company in Japan. It engages in the operation of financial instruments exchange markets for trading listed securities and derivatives instruments to market users; publication of stock prices and quotations; provides market facilities for trading of commodity derivatives, physical commodities, and commodity index futures; self-regulatory operations, such as listing examination, listed company compliance, market surveillance, and inspections and examinations of trading participants.
Market Cap
JPY 2.0T
Pitch Price
JPY 2.0K
Price Target
N/A
Dividend
2.61%
EV/EBITDA
15.66
P/E
28.68
EV/Sales
10.34
Sector
Capital Markets
Category
growth
ASB Partners Q126 Letter and Discussion of Japan Exchange Group (JPX:8697)
8697.T (upgraded position): Japan Exchange Group (owner of Tokyo/Osaka exchanges) upgraded guidance 3/25/26. Takaichi admin driving ADV surge. BOJ rate hikes (75bps) generating ¥7B incremental EBIT from ¥7T client collateral (~8% of 2025 EBIT). 20%+ TTM rev growth, 58% EBIT margins at 12x EV/EBITDA vs global peer premium. New FX/Gold/Platinum futures could add 3-16% rev upside per Goldman.
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