“Based on our estimate, Japan Foods reported a recurring loss of $1.2 million in 2HFY2024,” writes Jaiswal in his May 29 note.
RHB Bank Singapore analyst Shekhar Jaiswal has kept his “neutral” call on Japan Foods Holdings but with a lowered target price of 26 cents from 29 cents previously, after the company reported a loss for FY2024 due to higher operating costs.
The company, which operates a chain of F&B outlets, has reported a loss of $300,000 for the year ended March, reversing from earnings of $4 million recorded the year earlier.
