Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Equity Bottom-Up

Coupang, Inc. operates as an e-commerce company. The Company offers dynamic end-to-end e-commerce and logistic solutions. Coupang serves customers worldwide.

<ul>
<li>In the book Free Capital, the private investor Vernon talks about his strategy of buying growth stocks when they encounter "glitches" – temporary market overreactions to negative events.</li>
<li>I try to catch that company when nobody wants it, while it is still working through its problems” - VernonSouth Korean e-commerce operator Coupang (CPNG US – US$26 billion) is a test of that idea.</li>
<li>The stock sold off after its cybersecurity breach in November 2025.</li>
</ul>


In the book Free Capital, the private investor Vernon talks about his strategy of buying growth stocks when they encounter "glitches" – temporary market overreactions to negative events.
I try to catch that company when nobody wants it, while it is still working through its problems” - VernonSouth Korean e-commerce operator Coupang (CPNG US – US$26 billion) is a test of that idea.
The stock sold off after its cybersecurity breach in November 2025.


Hugel, Inc. is a Bio-pharmaceutical company that focuses on developing beauty/cosmetics related products.  The Company's main products include botulinum toxin and fillers.

<ul>
<li>On Tuesday, Meera Kapoor wrote about how GLP-1 drugs cause people's skin to become saggy – the effect that's now popularly known as "Ozempic face".</li>
<li>Two solutions are botulinum neurotoxin ("Botox") and dermal fillers.</li>
<li>Botox is injected into the skin to reduce wrinkles. Such wrinkles include frown lines, forehead lines and so-called "crow's feet.</li>
</ul>


On Tuesday, Meera Kapoor wrote about how GLP-1 drugs cause people's skin to become saggy – the effect that's now popularly known as "Ozempic face".
Two solutions are botulinum neurotoxin ("Botox") and dermal fillers.
Botox is injected into the skin to reduce wrinkles. Such wrinkles include frown lines, forehead lines and so-called "crow's feet.


Hugel (145020 KS): South Korea’s Low-Cost Botox Leader Now Expanding to the US

Photosynth Inc. develops and manufactures office electronic products. The Company produces access control systems, exit management systems, and other products. Photosynth also produces Internet of things equipment.

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<li>
The company makes physical smart locks for companies in Japan.
</li>
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These are often retrofitted onto standard thumb-turn locks and can be used with smartphones and access cards.
</li>
<li>
A group of engineers in Tokyo created Photosynth in 2014. 
</li>
</ul>



The company makes physical smart locks for companies in Japan.


These are often retrofitted onto standard thumb-turn locks and can be used with smartphones and access cards.


A group of engineers in Tokyo created Photosynth in 2014. 



Philippine Seven Corporation operates a convenience store network in the Philippines, primarily through its 7-Eleven stores. The company engages in retailing, merchandising, franchising, and distributing a wide array of grocery items, food, beverages, and other consumer goods. It also provides financial services like cash transactions, digital payments, and credit approvals through its stores. Headquartered in Mandaluyong City, the Philippines, the company was incorporated on November 23, 1982.

<ul>
<li>
The 7-Eleven convenience store chain was originally created in Dallas, Texas.
</li>
<li>
When the chain faced bankruptcy in the early 1990s, Japan's Ito-Yokado acquired it and later renamed the combined group Seven &amp; i (3382 JP – US$28 billion).
</li>
<li>
Today, there are over 85,000 "7-Eleven" stores worldwide. 
</li>
</ul>



The 7-Eleven convenience store chain was originally created in Dallas, Texas.


When the chain faced bankruptcy in the early 1990s, Japan's Ito-Yokado acquired it and later renamed the combined group Seven &amp; i (3382 JP – US$28 billion).


Today, there are over 85,000 "7-Eleven" stores worldwide. 



Mizuno Corporation manufactures and sells sporting goods including gear, clothing, and footwear.  The Company has brand recognition, specializing in baseball, ski, tennis, and golf gear.  Mizuno also constructs sport facilities such as track field, tennis court, and golf practice field.

<ul>
<li>
Over the past decade, the Japanese sportswear brand Mizuno (8022 JP – US$1.9 billion) has compounded at a 16.5% annual rate
<figure class="editor-figure mceNonEditable"></figure>
</li>
<li>
Of course, past performance does not indicate future performance.
</li>
<li>
But it still begs the question: why? And what does the future look like? I've been working with recent graduate Meera Kapoor to understand the company from the inside out. 
</li>
</ul>



Over the past decade, the Japanese sportswear brand Mizuno (8022 JP – US$1.9 billion) has compounded at a 16.5% annual rate



Of course, past performance does not indicate future performance.


But it still begs the question: why? And what does the future look like? I've been working with recent graduate Meera Kapoor to understand the company from the inside out. 



Mizuno (8022 JP): A Japanese Sportswear Brand at 16x P/E