Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

China Traditional Chinese Medicine / Event-Driven

<ul>
<li>I tally 42  - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Four new deals: scrip mergers for<a href="https://www.smartkarma.com/entities/wide-bay-australia-ltd" target="_blank" data-smartkarma-citation="entities:18747:1" rel="noopener">Auswide Bank (ABA AU)</a>, <a href="https://www.smartkarma.com/entities/latin-resources-ltd" target="_blank" data-smartkarma-citation="entities:8770:1" rel="noopener">Latin Resources (LRS AU)</a> &amp; <a href="https://www.smartkarma.com/entities/platinum-asset-management" target="_blank" data-smartkarma-citation="entities:914:1" rel="noopener">Platinum Asset Management (PTM AU)</a>; and the Tender Offer for <a href="https://www.smartkarma.com/entities/trancom-co-ltd" target="_blank" data-smartkarma-citation="entities:13043:1" rel="noopener">Trancom Co Ltd (9058 JP)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/pacific-smiles-group-ltd" target="_blank" data-smartkarma-citation="entities:2891:1" rel="noopener">Pacific Smiles (PSQ AU)</a>, <a href="https://www.smartkarma.com/entities/china-traditional-chinese-medicine" target="_blank" data-smartkarma-citation="entities:351:1" rel="noopener">China TCM (570 HK)</a>, <a href="https://www.smartkarma.com/entities/greatview-aseptic-packaging" target="_blank" data-smartkarma-citation="entities:10802:1" rel="noopener">Greatview Aseptic Packaging (468 HK)</a>, <a href="https://www.smartkarma.com/entities/shin-kong-financial-holding" target="_blank" data-smartkarma-citation="entities:15351:1" rel="noopener">Shin Kong Financial Holding (2888 TT)</a>, and <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>.</li>
</ul>


I tally 42  - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals: scrip mergers forAuswide Bank (ABA AU), Latin Resources (LRS AU) &amp; Platinum Asset Management (PTM AU); and the Tender Offer for Trancom Co Ltd (9058 JP).
Key updates took place on: Pacific Smiles (PSQ AU), China TCM (570 HK), Greatview Aseptic Packaging (468 HK), Shin Kong Financial Holding (2888 TT), and Seven &amp; I Holdings (3382 JP).


(Mostly) Asia-Pac M&A: TCM, Auswide, Latin Resources, Platinum Asset, Trancom, Pacific Smiles

Podcast of business and financial stories, Behind the Money

Behind the Money

Podcast of business and financial stories

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.

Equity Bottom-Up

<ul><li>A Canadian company, Alimentation Couche-Tard, has made an unsolicited offer to acquire Japan's Seven &amp; I Holdings, the owner of the popular 7-11 convenience store chain, marking Japan's largest foreign-led takeover attempt.</li><li>This proposed takeover could signal a shift in Japan's traditional resistance to foreign acquisitions, opening up opportunities for more global mergers and acquisitions in the country.</li><li>The deal would create a global giant in the convenience store industry and represents a significant change in Japan's deal-making and corporate culture.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

A Canadian company, Alimentation Couche-Tard, has made an unsolicited offer to acquire Japan's Seven &amp; I Holdings, the owner of the popular 7-11 convenience store chain, marking Japan's largest foreign-led takeover attempt.This proposed takeover could signal a shift in Japan's traditional resistance to foreign acquisitions, opening up opportunities for more global mergers and acquisitions in the country.The deal would create a global giant in the convenience store industry and represents a significant change in Japan's deal-making and corporate culture.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

How a 7-Eleven takeover could reshape corporate Japan

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Positive sentiment from Intel's deal with AWS and extra Govt. backing may outweigh plans to delay its EU fab capex for JP SPE suppliers.</li>
<li>Concerns iPhone 16 Pro preorders are below expectations to weigh on JP component suppliers, but can this be much of a surprise?</li>
<li>The JP Govt. agreeing for 7&amp;I to be designated as a 'core' company is not a show-stopper and may compel Couche-Tard to up their game.</li>
</ul>


Positive sentiment from Intel's deal with AWS and extra Govt. backing may outweigh plans to delay its EU fab capex for JP SPE suppliers.
Concerns iPhone 16 Pro preorders are below expectations to weigh on JP component suppliers, but can this be much of a surprise?
The JP Govt. agreeing for 7&amp;I to be designated as a 'core' company is not a show-stopper and may compel Couche-Tard to up their game.


Japan Morning Connection: IPhone 16 Pro Orders Miss Expectations

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>On 13 September, the Ministry of Finance of Japan added 7&amp;I to <a href="https://www.mof.go.jp/policy/international_policy/gaitame_kawase/press_release/20240913.html" target="_blank" rel="noopener">a list of "core" designated companies</a> based on results of voluntary inquiries to all listed companies.</li>
<li>Several media reports suggest that the change in 7&amp;I’s designation to core would complicate the proposed acquisition by <a href="https://www.smartkarma.com/entities/alimentation-couche-tard-inc" target="_blank" data-smartkarma-citation="entities:25103:1" rel="noopener">Alimentation Couche-Tard (ATD CN)</a>. The core designation will not change Couche-Tard's strategy.</li>
<li>The change to 7&amp;I’s designation to core will paradoxically push Couche-Tard to firm up its revised offer. An undemanding valuation protects the downside of a no-deal situation.</li>
</ul>


On 13 September, the Ministry of Finance of Japan added 7&amp;I to a list of "core" designated companies based on results of voluntary inquiries to all listed companies.
Several media reports suggest that the change in 7&amp;I’s designation to core would complicate the proposed acquisition by Alimentation Couche-Tard (ATD CN). The core designation will not change Couche-Tard's strategy.
The change to 7&amp;I’s designation to core will paradoxically push Couche-Tard to firm up its revised offer. An undemanding valuation protects the downside of a no-deal situation.


Seven & I Holdings (3382 JP): Core Designation Does Not Change Couche-Tard’s Calculus

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>Core inflation rates remain stubbornly high and real wages are still falling. </li>
<li>Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.</li>
<li>The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.</li>
</ul>


Core inflation rates remain stubbornly high and real wages are still falling. 
Surveys suggest one more major round of price hikes in October but the government still thinks prices will stabilise below its 2% target by the end of the year.
The increases are lowering consumer confidence – bad news for most retailers, although major discount chains are making hay while the sun, well, doesn’t shine.


Japanese Prices Rise Again; 60% of Consumers Feeling the Pinch and Looking for Better Value

Japan

Seven & i Holdings Co., Ltd. is a holding company which was established through the merger of Ito-Yokado Co., Seven Eleven Japan Co., and Denny's Japan. The Company plans, manages, and operates mainly convenience stores, supermarkets, and department stores.

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Seven & I Holdings (3382 JP)

(Mostly) Asia-Pac M&A: TCM, Auswide, Latin Resources, Platinum Asset, Trancom, Pacific Smiles

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

How a 7-Eleven takeover could reshape corporate Japan

Canadian company Alimentation Couche-Tard is making a bid to buy Japan's Seven and I Holdings, potentially marking a significant shift in Japanese...

Behind the Money

Japan Morning Connection: IPhone 16 Pro Orders Miss Expectations

Positive sentiment from Intel's deal with AWS and Govt. iPhone 16 Pro miss will weigh on JP component suppliers. JP Govt. designating 7&I as...

Andrew Jackson