Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>US stocks closed mixed after November jobs added 64k (beat) but unemployment rose to 4.6%; Nasdaq +0.2% on Tesla record, S&amp;P -0.2%, Dow -0.6%; Ford took $19.5bn EV pivot charge.</li>
<li>Mitsui &amp; Co. (8031 JP) completed ¥800bn investment for 40% in Rhodes Ridge iron ore JV; production from 2030 at 40-50mtpa initially, expanding &gt;100mtpa;</li>
<li>ASKA Pharmaceutical trades below book value and at sub-6x EV/EBITDA with &gt;20% net cash; improved capital allocation, and potential PE sale as catalysts.</li>
</ul>


US stocks closed mixed after November jobs added 64k (beat) but unemployment rose to 4.6%; Nasdaq +0.2% on Tesla record, S&amp;P -0.2%, Dow -0.6%; Ford took $19.5bn EV pivot charge.
Mitsui &amp; Co. (8031 JP) completed ¥800bn investment for 40% in Rhodes Ridge iron ore JV; production from 2030 at 40-50mtpa initially, expanding &gt;100mtpa;
ASKA Pharmaceutical trades below book value and at sub-6x EV/EBITDA with &gt;20% net cash; improved capital allocation, and potential PE sale as catalysts.


Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment

<ul>
<li>Investor activism and undervaluation are driving renewed interest in the steel sector, with Aichi and Yodogawa Steel facing pressure to unlock shareholder value.</li>
<li>Asset Value increased their stake in Sharing Tech. It ticks a lot of boxes: strong growth, high profitability, robust cash reserves, &amp; shareholder-friendly policies.</li>
<li>Nippon Active Value increased its stake in ASKA Pharma due to its strong fundamentals, undervaluation, profitability, and potential for shareholder value enhancement through cross-shareholding reductions.</li>
</ul>


Investor activism and undervaluation are driving renewed interest in the steel sector, with Aichi and Yodogawa Steel facing pressure to unlock shareholder value.
Asset Value increased their stake in Sharing Tech. It ticks a lot of boxes: strong growth, high profitability, robust cash reserves, &amp; shareholder-friendly policies.
Nippon Active Value increased its stake in ASKA Pharma due to its strong fundamentals, undervaluation, profitability, and potential for shareholder value enhancement through cross-shareholding reductions.


Japan Activist Briefs | Aichi Steel, Yodogawa Steel

Equity Bottom-Up

ASKA Pharmaceutical Holdings Co Ltd / Equity Bottom-Up

ASKA Pharmaceutical Holdings Co Ltd (4886 JP)

<ul>
<li>ASKA Pharmaceutical Holdings represents an attractive investment opportunity with substantial upside potential</li>
<li>The company combines solid growth, strong profitability, and clear avenues for shareholder value enhancement.</li>
<li>With Nippon Active Value's increasing involvement and the stock trading at deeply discounted valuations, ASKA is well-positioned for a re-rating.</li>
</ul>


ASKA Pharmaceutical Holdings represents an attractive investment opportunity with substantial upside potential
The company combines solid growth, strong profitability, and clear avenues for shareholder value enhancement.
With Nippon Active Value's increasing involvement and the stock trading at deeply discounted valuations, ASKA is well-positioned for a re-rating.


ASKA Pharmaceutical (4886) | Healthy Returns

Japan

ASKA Pharmaceutical Holdings Co Ltd operates as a holding company. The Company, through its subsidiaries, focuses on developing and providing pharmaceuticals, veterinary medicines, quasi-drugs, foods, and medical devices. ASKA Pharmaceutical Holdings serves customers worldwide.

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ASKA Pharmaceutical Holdings Co Ltd (4886 JP)

Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment

US stocks mixed on jobs data, Nasdaq up on Tesla record, S&P down; Ford takes $19.5bn EV charge; Mitsui invests in iron ore JV; ASKA Pharma...

Mark Chadwick

Japan Activist Briefs | Aichi Steel, Yodogawa Steel

Investor activism in steel sector leads to pressure on Aichi and Yodogawa Steel; Asset Value and Nippon Active Value increase stakes in Sharing...

Mark Chadwick

ASKA Pharmaceutical (4886) | Healthy Returns

ASKA Pharmaceutical Holdings is a promising investment with strong growth potential and shareholder value enhancement opportunities, especially...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ohayo Japan | Stocks Close Mixed as Jobs Growth Offset by Rising Unemployment

​US stocks mixed on jobs data, Nasdaq up on Tesla record, S&P down; Ford takes $19.5bn EV charge; Mitsui invests in iron ore JV; ASKA Pharma...

Mark Chadwick

Japan Activist Briefs | Aichi Steel, Yodogawa Steel

​Investor activism in steel sector leads to pressure on Aichi and Yodogawa Steel; Asset Value and Nippon Active Value increase stakes in Sharing...

Mark Chadwick

ASKA Pharmaceutical (4886) | Healthy Returns

​ASKA Pharmaceutical Holdings is a promising investment with strong growth potential and shareholder value enhancement opportunities, especially...

Mark Chadwick

US stocks mixed on jobs data, Nasdaq up on Tesla record, S&P down; Ford takes $19.5bn EV charge; Mitsui invests in iron ore JV; ASKA Pharma...

Investor activism in steel sector leads to pressure on Aichi and Yodogawa Steel; Asset Value and Nippon Active Value increase stakes in Sharing...

ASKA Pharmaceutical Holdings is a promising investment with strong growth potential and shareholder value enhancement opportunities, especially...