Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.</li>
<li>This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.</li>
<li>This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.</li>
</ul>


As designed, the JPX-Nikkei400 Index is something of a disaster. It aims to be slightly 'smart' vs other cap-weighted indices like TOPIX, but tracking error vs TOPIX is de minimus.
This year, in week 1, the ADD vs DELETE performance is positive. If we sector-hedge the ADDs vs DELETEs, it's doing even better.
This is probably due to relatively low pre-positioning, and cares. Momentum suggests one could be long ADDs vs DELETEs. And there is the perennial trade to watch out for.


2022 JPX Nikkei 400 Rebal Update - Going the Right Way

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

<ul>
<li>I hope that the investigation by SESC will lead to the establishment of compliance system for these IR vendors, although IR vendors have been left unchecked by insider trading regulations.</li>
<li>Apart from this issue, there is much room for discussion on the issue of governance for a company listed in which the founder owns more than 50% of the shares.</li>
<li>This is the same problem that occurs with parent-subsidiary listings. For increasing the listed companies, TSE has permitted the listing of companies in which the founder owns majority of shares.</li>
</ul>


I hope that the investigation by SESC will lead to the establishment of compliance system for these IR vendors, although IR vendors have been left unchecked by insider trading regulations.
Apart from this issue, there is much room for discussion on the issue of governance for a company listed in which the founder owns more than 50% of the shares.
This is the same problem that occurs with parent-subsidiary listings. For increasing the listed companies, TSE has permitted the listing of companies in which the founder owns majority of shares.


Governance of Companies in Which the Founder Owns Majority of the Shares Should Also Be Discussed

Japan

IR Japan Holdings Ltd is a holding company of IR Japan, Inc. The Company manages operation for its subsidiary. IR Japan,Inc. provides consulting services in rega rd to relationships with shareholders and investors in general. IR Japan also assists with the releasing of company filings.

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IR Japan Holdings Ltd (6035 JP)

2022 JPX Nikkei 400 Rebal Update - Going the Right Way

JPX Nikkei 400 rebalance is going the right way in the 6 trading days so far, and it wasn't done on Day1 (which was lacklustre). It may be under...

Travis Lundy

Governance of Companies in Which the Founder Owns Majority of the Shares Should Also Be Discussed

I would like to discuss about the Nikkei article regarding the "insider trading allegations against executive of I.R. Japan Holdings." It's...

Metrical Inc

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