Equity Analyst, Event-driven, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst, Event-driven

Quiddity Advisors

Event-Driven

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>Since my last insight, three new TOPIX Inclusion events have been confirmed: <a href="https://www.smartkarma.com/entities/m-a-research-institute-inc" target="_blank" data-smartkarma-citation="entities:36749:1" rel="noopener">M&amp;A Research Institute (9552 JP)</a>, <a href="https://www.smartkarma.com/entities/fp-partner-inc" target="_blank" data-smartkarma-citation="entities:40040:1" rel="noopener">FP Partner (7388 JP)</a>, and <a href="https://www.smartkarma.com/entities/i-ne-co-ltd" target="_blank" data-smartkarma-citation="entities:40117:1" rel="noopener">I-NE (4933 JP)</a> </li>
<li>Separately, <a href="https://www.smartkarma.com/entities/core-concept-technologies-inc" target="_blank" data-smartkarma-citation="entities:34323:1" rel="noopener">Core Concept Technologies Inc (4371 JP)</a> has announced it intends to work towards a Prime Market move in the future.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
Since my last insight, three new TOPIX Inclusion events have been confirmed: M&amp;A Research Institute (9552 JP), FP Partner (7388 JP), and I-NE (4933 JP) 
Separately, Core Concept Technologies Inc (4371 JP) has announced it intends to work towards a Prime Market move in the future.


TOPIX Inclusions: Who Is Ready (Sep 2023)

<ul>
<li>Quiddity's <strong>"Who is Ready"</strong> series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/plus-alpha-consulting-co-ltd" target="_blank" data-smartkarma-citation="entities:33441:1" rel="noopener">Plus Alpha Consulting (4071 JP)</a> will be included in TOPIX at the end of August 2023 and so far the stock has performed negatively as expected (see <a href="https://www.smartkarma.com/insights/plus-alpha-consulting-4071-jp-30bn-offer-leads-to-5bn-topix-inclusion" target="_blank" rel="noopener">link</a>).</li>
<li>Our long-term TOPIX pre-event name <a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a> has seen its share price decline sharply in the last few weeks which raises some important questions.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

Plus Alpha Consulting (4071 JP) will be included in TOPIX at the end of August 2023 and so far the stock has performed negatively as expected (see link).
Our long-term TOPIX pre-event name CELSYS (3663 JP) has seen its share price decline sharply in the last few weeks which raises some important questions.


TOPIX Inclusions: Who Is Ready (Aug 2023)

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/zuiko-corp" target="_blank" data-smartkarma-citation="entities:5568:1" rel="noopener">Zuiko Corp (6279 JP)</a>, <a href="https://www.smartkarma.com/entities/anycolor-inc" target="_blank" data-smartkarma-citation="entities:36618:1" rel="noopener">Anycolor (5032 JP)</a>, and <a href="https://www.smartkarma.com/entities/lifedrink-co-inc" target="_blank" data-smartkarma-citation="entities:39842:1" rel="noopener">Lifedrink (2585 JP)</a> will have TOPIX Inclusion events at the end of June (Zuiko) or July 2023 (the other two).</li>
<li>One of our pre-event TOPIX Inclusion candidates <a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a> has experienced sharp price moves over the last few weeks.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

Zuiko Corp (6279 JP), Anycolor (5032 JP), and Lifedrink (2585 JP) will have TOPIX Inclusion events at the end of June (Zuiko) or July 2023 (the other two).
One of our pre-event TOPIX Inclusion candidates CELSYS (3663 JP) has experienced sharp price moves over the last few weeks.


TOPIX Inclusions: Who Is Ready (Jun 2023)

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a> (formerly known as "Artspark") is a name we have been Bullish on in the last few months as it was a high-probability TOPIX Inclusion candidate.</li>
<li>In the last couple of trading days, the stock has popped more than 30%. In this insight, we take a closer look at this situation.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

CELSYS (3663 JP) (formerly known as "Artspark") is a name we have been Bullish on in the last few months as it was a high-probability TOPIX Inclusion candidate.
In the last couple of trading days, the stock has popped more than 30%. In this insight, we take a closer look at this situation.


TOPIX Inclusions: Who Is Ready (May 2023)

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>In the last two months, <a href="https://www.smartkarma.com/entities/amvis-holdings-inc" target="_blank" data-smartkarma-citation="entities:31511:1" rel="noopener">Amvis Holdings Inc (7071 JP)</a>, <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a>, and <a href="https://www.smartkarma.com/entities/sosei-group-corp" target="_blank" data-smartkarma-citation="entities:770:1" rel="noopener">Sosei Group (4565 JP)</a> have confirmed their moves to the Prime Market.</li>
<li>These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
In the last two months, Amvis Holdings Inc (7071 JP), AXXZIA Inc (4936 JP), and Sosei Group (4565 JP) have confirmed their moves to the Prime Market.
These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.


TOPIX Inclusions: Who Is Ready (Apr 2023)

Japan

CELSYS, Inc. provides application software and digital services. The Company operates creators support business, digital books support business and planning of middleware and contents services. CELSYS also offers painting and drawing app services.

52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

CELSYS (3663 JP)

TOPIX Inclusions: Who Is Ready (Sep 2023)

The Offer Price for I-NE (4933 JP)'s secondary sale of shares was decided today. Our estimates show the Offer Quantity could exceed the demand from...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Aug 2023)

I am Bullish on CELSYS at the current price level (JPY 672). The share price has to increase to slightly for the company to meet the Section...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Jun 2023)

There are currently 59 names that satisfy all 6 key Segment Transfer requirements based on current data. Another 72 names can satisfy 5 out of 6...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (May 2023)

CELSYS has been working for a move to the Prime Market since August 2022 and with the recent rise in share price they could be able to satisfy all...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Apr 2023)

Amvis and Sosei will have TOPIX Inclusion events at the end of April 2023. Celsys has gained slightly and is close to being fully ready. There is...

Janaghan Jeyakumar, CFA

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)