Stock Name: Yamada
Company Name: YAMADA GREEN RESOURCES LIMITED
Research House: DMG
DMG & Partners Securities in an Apr 19 research report says: "Yamada Green announced that it has entered into various agreements to lease shiitake mushroom cultivation bases measuring 1,678 mu.
"The lease agreements are for a period of 17 years and the Group is entitled to use each plot of the cultivation bases between 25 September and 25 April each year starting from Sep 28, 2011.
"Total investment, including the construction costs of infrastructure at shiitake mushroom cultivation bases, first year annual rental payment and rental prepayments for approximately 13 years, amounts to RMB24.0m, which will be funded by the net proceeds from its IPO.
"We maintain our estimates due to immaterial differences arising from the additional 260mu. Target price of 37 cents, pegged to 6x FY11 P/E. MAINTAIN BUY."
Company Name: YAMADA GREEN RESOURCES LIMITED
Research House: DMG
DMG & Partners Securities in an Apr 19 research report says: "Yamada Green announced that it has entered into various agreements to lease shiitake mushroom cultivation bases measuring 1,678 mu.
"The lease agreements are for a period of 17 years and the Group is entitled to use each plot of the cultivation bases between 25 September and 25 April each year starting from Sep 28, 2011.
"Total investment, including the construction costs of infrastructure at shiitake mushroom cultivation bases, first year annual rental payment and rental prepayments for approximately 13 years, amounts to RMB24.0m, which will be funded by the net proceeds from its IPO.
"We maintain our estimates due to immaterial differences arising from the additional 260mu. Target price of 37 cents, pegged to 6x FY11 P/E. MAINTAIN BUY."
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