Sign in

    Hiroko Sato

    Research Analyst at Jefferies Financial Group Inc.

    Hiroko Sato is the Head of Japanese IT, Internet, and Domestic Disposable/Commerce Equity Research at Jefferies Japan Limited, based in Tokyo, specializing in the coverage of Japanese gaming, internet, and IT/software companies such as TIS, SHIFT Inc., and Money Forward. With a rich analyst career spanning over twenty-eight years on both sell and buy sides, she joined Jefferies in October 2013 after significant roles at Citi Global Markets, Fusion Investments, Oasis, JPMorgan, and UBS, and earlier technical experience at Sun Microsystems. Sato is recognized for her sharp sector insights and corporate access, consistently earning nominations in the All Japan Research Survey and covering industry leaders driving returns and transformation in Japan's tech sector. She holds advanced professional credentials and is listed as a registered analyst on multiple covered companies, reinforcing her reputation for depth and performance in Japanese equity research.

    Hiroko Sato's questions to Yahoo! Japan (YAHOY) leadership

    Hiroko Sato's questions to Yahoo! Japan (YAHOY) leadership • Q4 2024

    Question

    Hiroko Sato asked about the potential conservatism of the FY'25 guidance given past outperformance and questioned the details of the cybersecurity budget, including reporting requirements and future spending plans.

    Answer

    Executive Ryosuke Sakaue noted the guidance reflects uncertainties in AI investment costs, particularly on the EBITDA line. He confirmed a JPY 10 billion cybersecurity budget for FY'25 is included in the guidance, focused on separating group companies from Naver's system. CEO Takeshi Idezawa added that progress reports will be publicly disclosed and submitted to the Ministry of Internal Affairs and Communications (MIC). Sakaue clarified this level of spending is not expected to continue into FY'26.

    Ask Fintool Equity Research AI

    Hiroko Sato's questions to Yahoo! Japan (YAHOY) leadership • Q3 2024

    Question

    Hiroko Sato asked for a performance review of the Media, E-Commerce, and PayPay-related segments against internal targets for Q3 and requested any insights into the strategic plan and growth targets for the upcoming fiscal year.

    Answer

    Ryosuke Sakaue, executive, stated that Media and Commerce performed largely in line with internal plans, while the Strategic segment's EBITDA exceeded targets due to strong PayPay revenue and cost controls. For the next fiscal year, he indicated the company is targeting mid-single-digit revenue growth and adjusted EBITDA growth in the 5% to 10% range, hopefully at the higher end.

    Ask Fintool Equity Research AI