Dynam Japan 6889

Dynam Japan 6889

Postby winston » Mon Jul 16, 2012 12:08 pm

Dynam Japan, the country's No 1 pachinko operator by number of halls, plans to build 75 new pachinko halls in the next three years, mainly in rural areas, said chairman and chief executive Yoji Sato.

Dynam is expected to begin its public offering in Hong Kong next week


Source: SCMP
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Re: Dynam Japan IPO

Postby winston » Mon Jul 16, 2012 1:48 pm

DJ INTERVIEW: Dynam Plans to Build 75 Pachinko Halls in Japan Over Next Three Years

-- Dynam plans to build 75 pachinko halls in Japan over the next three years
-- Dynam intends to seek business partners outside Japan
-- Outlook for the pachinko market in Japan remains strong

By Yvonne Lee

HONG KONG--Japanese pachinko-parlor operator Dynam Japan Holdings Co. Ltd., which kicked off order-taking for its up to US$230 million Hong Kong initial public offering last week, plans to build 75 more pachinko halls in Japan over the next three years from its IPO proceeds, Chief Executive Yoji Sato said.

The Tokyo-based company, which is the largest pachinko hall operator in Japan in terms of number of halls, had considered listing in Singapore and South Korea, but picked Hong Kong instead, as its springboard to expand its business in Asia, Mr. Sato said in an interview.

"It is difficult to expand the pachinko business outside Japan. We intend to seek business partners outside Japan to expand our gaming operations in Asia. Also, Japan is a very closed market.

I believe it could raise our profile through listing in Hong Kong," Mr. Sato said. However, he said the company hasn't entered into definitive agreements with any potential partners nor decided on the nature of partnership.

The Japanese market for pachinko--a quasi-gambling game resembling pinball--is huge and pachinko halls are ubiquitous throughout the country. In 2010, the industry recorded Y19.4 trillion (US$243.8 billion) in sales, or 28.6% of all domestic leisure spending that year, according to the Japan Productivity Center.

Despite the setback from a massive earthquake in Japan last year, Mr. Sato said the outlook for the pachinko market remains positive.

"The number of pachinko players has increased by an average of 10% in the past three years and we expect the growth momentum will continue in future," Mr. Sato said.

The number of pachinko players in Japan was estimated to be 16.7 million in 2010 and is expected to increase to approximately 18.0 million in 2015, according to Entertainment Business Institute.

Based in Tokyo, Dynam operated 355 pachinko halls in 46 out of 47 prefectures in Japan as of March 31, according to its preliminary listing prospectus. It reported a net profit of 15.9 billion yen for the financial year ended March 31, compared with Y16.2 billion a year earlier.

Dynam, which aims to start selling shares to retail investors on July 24, plans to sell 112 million shares in an indicative price range of HK$14-HK$16 each, a term sheet seen by Dow Jones Newswires earlier. The company has an option to increase the size of the deal by 15%, which means it could raise up to HK$2.06 billion if there is strong demand, the document said.

It will become the second Japanese company to be listed in Hong Kong after financial-to-property conglomerate SBI Holdings Inc. raised US$206 million in April 2011.

Piper Jaffray, Shenyin Wanguo (HK) Ltd. and Citic Securities Co. are handling Dynam's deal, the term sheet said.


Source: Dow Jones Newswire
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Re: Dynam Japan IPO

Postby winston » Tue Jul 24, 2012 6:23 am

Pinball firm at top of game

Dynam Japan Holdings opens the retail book today for its HK$1.79 billion initial public offering.

The Tokyo-based pinball arcade operator will sell 112 million shares, each initially priced between HK$14 and HK$16. One board lot of 200 costs HK$3,232.

Dynam is Japan's second- largest pachinko hall operator on value of premises and tokens. As of March 31, it operated 355 halls.

"We chose Hong Kong for the float because the market is already trading casino stocks," chairman Yoji Sato said. "Thus, we hope [our stock gets] a high valuation."

Dynam plans to spend 70 percent of the IPO proceeds on expanding its pachinko hall network in Japan, and another 10 percent on offshore strategic acquisitions.

To draw retail investors, Dynam promises to pay out 45 to 50 percent of net profit as dividend in the fiscal year ending March 31.

"A strong financial position means we are confident of maintaining such a high dividend payout ratio," Sato said.

Bookbuilding ends on Friday, with trading to start on August 3.

Meanwhile, Sany Heavy Industry will relaunch its HK$15.5 billion IPO within the first quarter of next year at the latest - after shelving plans to restart fund- raising this month due to tepid market conditions.


http://www.thestandard.com.hk/news_deta ... 20724&fc=2
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Re: Dynam Japan IPO

Postby winston » Tue Jul 31, 2012 7:45 pm

not vested

Dynam's offer shares reportedly undersubscribed; price set at lower range $14

The shares of Dynam (006889) under public offering reportedly have been under-subscribed, while shares under international placement were over-subscribed.

The company planned to set offer price at lower range of HK$14-16. The shares will be listed on 6 August.

Shenyin Wanguo Capital and Piper Jaffray Asia were the sponsors and CITIC Securities was the arranger.


Source: AAStocks Financial News
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Re: Dynam Japan IPO

Postby winston » Fri Aug 03, 2012 9:38 am

not vested

DYNAM JAPAN HOLDINGS CO., LTD. (06889) slightly undersubscribed; offer price set at lower range $14

DYNAM JAPAN HOLDINGS CO., LTD. (06889) only received 0.87 times subscription in the public offer.

The shares are expected to be listed next Monday (6 August). The price of share was set at lower range $14, raising a net proceed of $1.506 billion.

Due to the under-subscription in Hong Kong offering, a total of 1.437 million shares were reallocated to international placing.

Shares offered under Hong Kong public offering reduced to 9.763 million, accounting for 8.72% of shares available for subscription.


Source: AAStocks Financial News
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Re: Dynam Japan 6889

Postby winston » Mon Aug 06, 2012 10:28 am

Vested


DJ MARKET TALK: Dynam Japan +0.1%; SHKF Tips Reasonable Valuation


0152 GMT [Dow Jones] NEW LISTING: Dynam Japan (6889.HK) trades 1 tick, or 0.1%, higher at HK$14.02 after earlier sliding to HK$13.82; volume is respectable at HK$65.9 million.

While some Hong Kong investors are probably not too familiar with its pachinko business, which is a quasi-gambling game resembling pinball, Dynam's valuation can be argued to be attractive.

SHK Financial says Dynam's business is stable and relatively unaffected by economic cycles, and its plans to open new halls will likely help to sustain growth.

"Valuation looks defensive" at 7.2X FY13 P/E or below and 6%-plus dividend yield.

"The valuation looks reasonable for a unique business among listed companies. The company offers a good balance between defensiveness and growth, plus an attractive dividend."

Source: Dow Jones Newswire
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Re: Dynam Japan 6889

Postby winston » Mon Aug 06, 2012 10:36 am

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DJ MARKET TALK: Dynam Japan May Not Shine, But Dividends An Attraction

0755 [Dow Jones] NEW LISTING: Dynam Japan (6889.HK) may not make too much of a splash in its Hong Kong debut, given that many investors are probably not too familiar with its pachinko business, which is a quasi-gambling game resembling pinball.

The retail portion of its total offering of 112 million shares was undersubscribed, with net proceeds of HK$1.51 billion at a HK$14.00 pricing, at the bottom of its HK$14.00-HK$16.00 indicative range.

Still, despite the underwhelming IPO response, valuations can be argued to be attractive, especially for dividend-seeking investors;

According to Core Pacific-Yamaichi, Dynam offers a potential dividend yield of more than 6%, which is "better than bonds."

The Tokyo-based company plans to use the proceeds to partially finance the addition of 75 new pachinko parlors by 2015, acquire other parlors, upgrade operations and beef up its capital base.

Source: Dow Jones Newswire
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Re: Dynam Japan 6889

Postby winston » Mon Aug 06, 2012 5:27 pm

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DYNAM JAPAN (06889) reiterates not involving in money laundering, seeking cooperation partners in Asia

YNAM JAPAN (06889)'s chief executive Yoji Sato said the company chose to list in Hong Kong mainly because Hong Kong is an international finance center, adding he hopes the company can enter Chinese market through Hong Kong.

Yoji Sato said the company is not involved in any illegal acts as proved by HKEX's (00388) approval for listing in response to the allegations about money laundering.

Sato noted he wishes to seek cooperation partners in China to develop business.

Source: AAStocks Financial News
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Re: Dynam Japan 6889

Postby winston » Tue Aug 07, 2012 6:45 am

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Pinball firm off to shaky start by Grace Cao

Shares of Dynam Japan Holdings (6889) closed 10 percent lower than its offer price, during its trading debut yesterday.
That made it the third worst initial public offer showing this year.

The Tokyo-based pinball arcade operator is the first Japanese company to go public in Hong Kong, excluding firms that trade through their depository receipts.

Dynam raised HK$1.5 billion by selling 112 million shares. But the firm made a disappointing start, with the stock falling soon after the opening bell.

It closed at HK$12.54, down 10.4 percent from the listing price.

"We have never been involved in either money laundering or gangster activities."chairman Yoji Sato said after the listing ceremony - a reference to how pachinko is often viewed in Japan.

He noted too that pachinko, which is a quasi-gambling game, is legal in Japan.

It was earlier reported that the company could not push through with an IPO in Japan and so came to Hong Kong as its second preferred destination to list.

Dynam plans to spend 70 percent of IPO proceeds on expanding its network in Japan, where it has 355 halls.

The two worst IPO performers this year were Xiwang Steel (1266) and Qualipak International Holdings (1332), slumping 19.6 percent and 10.7 percent respectively on their first trading days.


http://www.thestandard.com.hk/news_deta ... 20807&fc=2
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Re: Dynam Japan 6889

Postby winston » Thu Aug 30, 2012 7:17 pm

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DYNAM JAPAN (06889.HK) 1Q revenue up 2.6% to 40.6B yen

DYNAM JAPAN (06889.HK) announced for the first quarter ended June, total gross pay-ins increased by 6.3% year-on-year to ¥231,684 million; total gross payout rose 7.2% to ¥191,075 million.

The revenue increased by approximately 2.6% to ¥40,609 million compared with the same period last year.

Source: AAStocks Financial News
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