Fundamental Analyses, Contrarian Cashflows

Contrarian Cashflows

Fundamental Analyses

The purpose of Contrarian Cashflows is to document my investment research and share it with everyone who is interested in value investing. My long term aspiration for Contrarian Cashflows is to become a platform for professional investors and serious amateurs where they can get inspiration and discuss investing-related topics.
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Equity Bottom-Up

<ul><li>F&amp;M Co., Ltd. is a 35-year-old Osaka-based back-office outsourcer for Japan’s sole proprietors and small/mid-size companies</li><li>Selling bookkeeping (Accounting Service), a membership and subsidy-application consulting service branded “F&amp;M Club” (Consulting), and cloud HR/labor-administration software branded “Office Station” (Business Solutions)</li><li>Distributed almost entirely through regional banks and tax/labor-consultant firms rather than direct sales.</li></ul>

F&amp;M Co., Ltd. is a 35-year-old Osaka-based back-office outsourcer for Japan’s sole proprietors and small/mid-size companiesSelling bookkeeping (Accounting Service), a membership and subsidy-application consulting service branded “F&amp;M Club” (Consulting), and cloud HR/labor-administration software branded “Office Station” (Business Solutions)Distributed almost entirely through regional banks and tax/labor-consultant firms rather than direct sales.

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Oct 24th. The aggregated net margin trading position is USD17,881m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in IHI, Kawasaki Heavy Industries, Lasertec, Fujikura, Mitsubishi UFJ Financial, Kobe Bussan, Sanrio, SoftBank, Fast Retailing, Mitsubishi Heavy Industries, Ihi, Kawasaki Heavy Industries.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Oct 24th. The aggregated net margin trading position is USD17,881m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in IHI, Kawasaki Heavy Industries, Lasertec, Fujikura, Mitsubishi UFJ Financial, Kobe Bussan, Sanrio, SoftBank, Fast Retailing, Mitsubishi Heavy Industries, Ihi, Kawasaki Heavy Industries.


JPX Margin Trading Weekly (Oct 24th): IHI, Kawasaki Heavy Industries, Lasertec, Fujikura

Japan

F&M CO., LTD. provides bookkeeping services for small businesses, catering especially to the tax preparation needs of insurance salespeople.  The Company also offers consulting services on financial, operating, and general affairs issues, in the traditional way and also via the internet with its "E-Somu" site. F&M has also recently expanded into personnel placement services.

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F&M Co Ltd (4771 JP)

Monday Delight: 24/08/2026

F&M Co., Ltd. is a 35-year-old Osaka-based back-office outsourcer for Japan’s sole proprietors and small/mid-size companies Selling...

Contrarian Cashflows

JPX Margin Trading Weekly (Oct 24th): IHI, Kawasaki Heavy Industries, Lasertec, Fujikura

We analyzed JPX margin trading positions report for the past week and highlighted IHI (7013 JP), Kawasaki Heavy Industries (7012 JP), Lasertec...

Ke Yan, CFA, FRM

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52-week Range

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