Hedge Fund News, Information and Data, Hedge Fund Alpha

Hedge Fund Alpha

Hedge Fund News, Information and Data

We focus on hedge funds with a bias towards emerging managers, specifically fundamental long-short managers. We are known for a lot of insights and exclusives on hedge fund letters, coverage of industry conferences, and interviews with investors and interesting service providers.

Equity Bottom-Up

<ul><li>Byron Gill is Managing Partner of Indus Capital, a roughly $6 billion investment firm founded in 2000 by six alumni of Soros's Asian equity team, and an independent director of Fujitsu.</li><li>Hedge Fund Alpha spoke to him ahead of the inaugural October 16th Sohn Tokyo Conference , and asked him about a quarter-century of investing across Asia, sitting on a Japanese board from the inside, and why he thinks the birth of a real market for corporate control in Japan changes the calculus for engagement investors like Indus.</li><li>Born in Tokyo, raised in Texas Gill was born in Tokyo, where his father worked for Gillette, and relocated to Texas at age seven, a move his Brooklyn-born mother found a bigger culture shock than Japan itself had been.</li></ul>

Byron Gill is Managing Partner of Indus Capital, a roughly $6 billion investment firm founded in 2000 by six alumni of Soros's Asian equity team, and an independent director of Fujitsu.Hedge Fund Alpha spoke to him ahead of the inaugural October 16th Sohn Tokyo Conference , and asked him about a quarter-century of investing across Asia, sitting on a Japanese board from the inside, and why he thinks the birth of a real market for corporate control in Japan changes the calculus for engagement investors like Indus.Born in Tokyo, raised in Texas Gill was born in Tokyo, where his father worked for Gillette, and relocated to Texas at age seven, a move his Brooklyn-born mother found a bigger culture shock than Japan itself had been.

Indus Capital’s Byron Gill: From Soros’s Quantum Fund to Fujitsu’s Board

Japan Specialist

Mark Chadwick

<ul>
<li>Fujitsu's core services business becomes structurally more profitable through AI delivery and pricing changes</li>
<li>The new sovereign-AI bets turn from near-zero into a material business over the back half of the decade</li>
<li>And the resulting cash gets deployed with discipline. The market remains sceptical. </li>
</ul>


Fujitsu's core services business becomes structurally more profitable through AI delivery and pricing changes
The new sovereign-AI bets turn from near-zero into a material business over the back half of the decade
And the resulting cash gets deployed with discipline. The market remains sceptical. 


Fujitsu (6702) | IR Day 2026...a Lot to Digest

Japanese Turnaround Situations, Short-Ideas, Azabu Research

Michael Allen

Japanese Turnaround Situations, Short-Ideas

Azabu Research

Azabu Research is a publishing and consulting firm focused on distressed equities in the Japanese market. We specialize in turnaround strategies, corporate combinations, divestitures, and restructuring.

Publisher of the Tokyo Turnaround Letter, which conducts the most thorough research possible of publicly available information, including forensic tests for fraudulent overstatement of assets and understatement of liabilities, as well as rigorous market and industry analysis to assess the underlying strengths of the company’s products or services, the appropriateness of the company’s turnaround strategy, and the skill of its current management team. The average length of a report exceeds 25 pages of text and tables, excluding any disclosures or executive summaries.

We have more than 30 years of experience in applying this process to distressed equities in Japan. Additionally, subscribers have free access to detailed, yet easily navigated earnings models for the target company as well as the top five comparable companies, and unlimited access to the analyst for follow-up questions.

Azabu Research also conducts be-spoke research on a project basis, and provides consulting services to companies looking to restructure, divest, make acquisitions, go public, or improve investor sentiment toward their stock.

Independent Research and Consulting Firm

<ul>
<li>A massive shortage of IT professionals combined with Shift's overwhelming dominance of the labor market should drive 20% annual revenue growth through 2030. </li>
<li>But Shift missed consensus profitability estimates 3 consecutive quarters, and the share price is down 67% in 12 months, compared to an 18% rise in the median peer. </li>
<li>In our view, a recovery in profitability is already underway, and shares are at least 45% undervalued</li>
</ul>


A massive shortage of IT professionals combined with Shift's overwhelming dominance of the labor market should drive 20% annual revenue growth through 2030. 
But Shift missed consensus profitability estimates 3 consecutive quarters, and the share price is down 67% in 12 months, compared to an 18% rise in the median peer. 
In our view, a recovery in profitability is already underway, and shares are at least 45% undervalued


Shift (3697): Profitability Rebound Underway

Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Senior Technology Analyst, Japanese Equities

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>The UK Post Office "Horizon Scandal" has blown up, putting Fujitsu's computer system failure on the front pages and on the agenda of Parliament and Prime Minister Sunak.</li>
<li>Fujitsu UK has been awarded £6.8bn in public contracts since 2012. The Justice Secretary is  now talking about compensation for the enormous financial and personal damage caused.</li>
<li>Fujitsu's share price is coming off a new all-time high reached in December. The amount of compensation and loss of potential future contracts is substantial but uncertain.</li>
</ul>


The UK Post Office "Horizon Scandal" has blown up, putting Fujitsu's computer system failure on the front pages and on the agenda of Parliament and Prime Minister Sunak.
Fujitsu UK has been awarded £6.8bn in public contracts since 2012. The Justice Secretary is  now talking about compensation for the enormous financial and personal damage caused.
Fujitsu's share price is coming off a new all-time high reached in December. The amount of compensation and loss of potential future contracts is substantial but uncertain.


Fujitsu (6702 JP): Horizon Scandal Blows Up

<ul>
<li>With its stock price down 30% from its January peak, Fujitsu deserves another look.</li>
<li>Management is setting long-term target with development of a Neural Processing Unit for AI inferencing to be produced by Rapidus at 1.4-nm.</li>
<li>Sales and profits are now threatened by the economic disruption caused by the war on Iran, but restructuring and demand for AI-driven corporate service solutions should support long-term margin expansion.</li>
</ul>


With its stock price down 30% from its January peak, Fujitsu deserves another look.
Management is setting long-term target with development of a Neural Processing Unit for AI inferencing to be produced by Rapidus at 1.4-nm.
Sales and profits are now threatened by the economic disruption caused by the war on Iran, but restructuring and demand for AI-driven corporate service solutions should support long-term margin expansion.


Fujitsu (6702 JP): Targeting AI Inference at 1.4nm

Japan

Fujitsu Ltd manufactures semiconductor, computer, and communication equipment. The Company provides comprehensive information technology, network and telecommunication solutions, and Internet services.

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Fujitsu Ltd (6702 JP)

Indus Capital’s Byron Gill: From Soros’s Quantum Fund to Fujitsu’s Board

Byron Gill is Managing Partner of Indus Capital, a roughly $6 billion investment firm founded in 2000 by six alumni of Soros's Asian equity team,...

Hedge Fund Alpha

Fujitsu (6702) | IR Day 2026...a Lot to Digest

On September 16, 2026, Fujitsu laid out "Management Vision 2035" - a ten-year plan spanning six presentations and a Q&A session.

Mark Chadwick

Shift (3697): Profitability Rebound Underway

Japan's massive shortage of IT professionals and Shift's dominance of the IT labor market should sustain 20% annual sales growth. Profit could grow...

Michael Allen

Fujitsu (6702 JP): Horizon Scandal Blows Up

The UK Post Office Horizon Scandal has blown up. Fujitsu likely to pay compensation and lose future business due to its computer system failures....

Scott Foster

Fujitsu (6702 JP): Targeting AI Inference at 1.4nm

Share price down 30% from its January peak, discounting considerable risk. Iran war disruption threatens this year's profits, but data- and AI...

Scott Foster

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