0243 GMT - Askul needs to deliver tangible earnings growth to validate its recovery story from a ransomware incident in October last year, Jefferies analyst Hiroko Sato says in a note. The company posted 1Q net loss on Tuesday. As part of its margin improvement initiatives, the company opened a logistics center in Taicang, China, in January, to reduce logistics costs, Sato says. In Japan, Askul is expanding shipping hubs and reorganizing its logistics network around Tokyo to improve operational efficiency, she says. Artificial-intelligence implementation in sales and marketing remains a key focus, she says. Jefferies maintains a hold rating and a target price of 1,310 yen. Shares are 2.5% higher at Y1,259.