SHERY: SHERY: THIS IS "THE ASIA TRADE." THIS IS "THE ASIA TRADE." AVRIL: AVRIL: ASIAN STOCKS SET FOR GAINS ASIAN STOCKS SET FOR GAINS AZTEC DRIVES A WALL STREET AZTEC DRIVES A WALL STREET REBOUND WITH JITTERS AROUND A REBOUND WITH JITTERS AROUND A DISRUPTION EASING. DISRUPTION EASING. OIL CLIMBS ON U.S.-IRAN OIL CLIMBS ON U.S.-IRAN TENSIONS.TENSIONS. THE LATEST FED MINUTES SHOW A THE LATEST FED MINUTES SHOW A FED SHIFTING FURTHER AWAY FROM FED SHIFTING FURTHER AWAY FROM FURTHER RATE CUTS, PUTTING THE FURTHE ...

Toru Yoshimura, Senior Executive Officer at Kirin, discusses the company's business strategy and expansion plans for its health science business. He speaks with Shery Ahn and Avril Hong on Bloomberg: The Asia Trade. ...

Kirin said it will sell its Four Roses bourbon brand to E&J Gallo Winery for as much as $775 million, as the Japanese brewer pivots more toward healthcare and US liquor makers grapple with slowing demand https://t.co/Fx7J0aEsGl ...

Financial Performance - The total cloud backlog reached EUR 77 billion, up 30% year-on-year, indicating strong underlying business momentum [7][14][26] - Cloud revenue grew 26% year-on-year, primarily driven by the strong performance of the Cloud ERP Suite, which increased by 32% [27][29] - Total revenue for the full year approached EUR 37 billion, up 11% [29] Business Lines and Key Metrics - The Cloud ERP Suite accounted for 86% of total cloud revenue, highlighting its significance as a growth engine [27] - The number of customers using the AI copilot tool grew ninefold over the year, with 60% of existing cloud customers actively using SAP's AI offerings [6][54] Market Performance - Strong performances were noted in Brazil, France, Germany, India, Italy, South Korea, and Spain, while China, Japan, Saudi Arabia, the UK, and the US also showed significant strength [28] - The company outperformed the cloud market by 10 percentage points in 2025 [15] Company Strategy and Industry Competition - The ongoing transformation of SAP's operating model, combined with AI integration, has positioned the company to capitalize on business AI opportunities [8][20] - The company is focused on a Partner-First approach for mid-market growth and expanding its sovereign cloud capabilities [12][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged geopolitical uncertainties and macroeconomic volatility but expressed confidence in the company's ability to drive growth through AI and cloud solutions [4][23] - The company expects a record free cash flow of approximately EUR 10 billion in 2026, supported by operational efficiency improvements [32] Other Important Information - The non-IFRS cloud gross margin for the full year expanded by 1.6 percentage points to 75%, driving cloud gross profit up by 29% [28] - A new two-year share repurchase program of up to EUR 10 billion is set to start in February, reflecting confidence in the business's sustainable strengths [30] Q&A Session Summary Question: Concerns about CCB growth and deal slippage - Management noted that the 25% CCB growth was impacted by a higher share of large deals with longer ramp periods and some government deals with termination clauses [38][40] Question: AI-driven cost efficiencies - The company aims to achieve EUR 2 billion in cost efficiencies through business growth without a restructuring plan, focusing on scaling operations with AI [44][46] Question: Customer adoption of AI offerings - Approximately 60% of existing cloud customers are actively using SAP's AI, with a significant increase in adoption noted [54][56] Question: Future cloud revenue growth trajectory - Management indicated that while some deceleration is expected, it will be less than in 2025, with a strong pipeline for 2026 [66][68]

Rightmove’s grip on Britain’s property market makes it an attractive asset - M4OS Photos/Alamy An activist investor has bought a near £250m stake in Rightmove, piling fresh pressure on the embattled property giant. London-based Independent Franchise Partners (IFP) has built up a 5.8pc stake in the house-buying portal in recent weeks, becoming Rightmove’s third-biggest shareholder. The investment was made after the company warned its profit growth will slow next year because of investment in AI. That ann ...

Group 1 - Lark Distilling has appointed Stuart Gregor as the new CEO, succeeding Satya Sharma who will step down on December 31 [1] - Gregor has been a director at Lark since last year and is recognized for his deep understanding of the business [1][2] - The chairman of Lark Distilling, Domenic Panaccio, highlighted Gregor's entrepreneurial credentials and passion for Australian spirits, indicating that his leadership will enhance Lark's ambition in the whisky market [2] Group 2 - Under Sharma's leadership, Lark Distilling achieved consistent results, expanded into international markets, and strengthened its portfolio [3] - For the financial year ending June 2025, Lark reported a 12% increase in net sales revenue to A$15.6 million (approximately $10.3 million) [3][4] - The growth was primarily driven by direct-to-consumer sales, travel retail, and exports, although the transition to a distributor-led model led to a decrease in gross profit percentage to 64%, down by about 3.5 percentage points [4] Group 3 - Lark Distilling reported a gross profit of A$10 million, an increase of A$0.6 million, but faced a statutory EBITDA loss of A$5.9 million and a net loss of A$11.3 million, up from A$4.6 million the previous year [4] - Gregor expressed excitement about leading Lark, viewing it as a unique opportunity in the Australian distilling landscape [5]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Kirin (KNBWY) as a strong candidate for value investors due to its favorable valuation metrics [2][5]. Valuation Metrics - Kirin (KNBWY) has a Zacks Rank of 2 (Buy) and a Value grade of A, indicating it is a high-quality value stock [3]. - The stock is currently trading at a P/E ratio of 12.35, which is lower than the industry average of 14.97 [3]. - KNBWY's Forward P/E has fluctuated between 11.06 and 14.14 over the past 12 months, with a median of 12.56 [3]. - The P/S ratio for KNBWY is 0.72, compared to the industry average of 1.31, suggesting it is undervalued based on sales [3]. - The P/CF ratio for KNBWY is 10.89, significantly lower than the industry average of 42.52, indicating a strong cash outlook [4]. Investment Outlook - The combination of these metrics suggests that Kirin is likely undervalued, making it an attractive option for value investors [5].