Japan Exchange Group Inc

8697: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥‎6,799.00	Jcl	Vqfvrwrrj

Japan Exchange Group Earnings: Positive Outlook as Japanese Stock Market Rises

Roy Van Keulen

Jan 30, 2024

We increased our fair value estimate by 4% to JPY 2,520 per share after wide-moat-rated Japan Exchange Group, or JPX, posted positive third-quarter results. In the first nine months of fiscal 2023, operating revenue totaled JPY 112 billion, and operating income reached JPY 66 billion, 11%, and 28%, respectively, increases compared with the previous corresponding period. While the cumulative three-quarter results are tracking ahead, the company maintained its full-year earnings guidance.

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