Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Last Week in Event SPACE: Toshiba, Cathay, OFAC's Walk Back, Trad Chi Med, Enplas, Car, Japan Asia

Travis Lundy

Japan Tissue Engineering Co / Event-Driven

On Friday 29 January 2021 after the close, Japanese textiles and materials giant <a href="https://www.smartkarma.com/entities/teijin-ltd" target="_blank" data-smartkarma-citation="entities:5097:1" rel="noopener">Teijin Ltd (3401 JP)</a> announced a Tender Offer to buy 65% of the shares outstanding of <a href="https://www.smartkarma.com/entities/japan-tissue-engineering-co" target="_blank" data-smartkarma-citation="entities:8211:1" rel="noopener">Japan Tissue Engineering Co (7774 JP)</a> (colloquially known as J-TEC). Current parent company <a href="https://www.smartkarma.com/entities/fujifilm-holdings-corp" target="_blank" data-smartkarma-citation="entities:16353:1" rel="noopener">FUJIFILM Holdings (4901 JP)</a> has agreed to tender their 50.1% stake. The two sides went through the motions of finding a "fair price" for DCF purposes but effectively, that was to frame the agreed-upon transaction price between Teijin and FUJIFILM.This sets up an interesting trade on the front end, and mechanically higher than minimum pro-ration, but even for those who love partial offers, I would not crack out the champagne yet.I f you like the prospects for this business, there is a possibility this creates an interesting set-up.

On Friday 29 January 2021 after the close, Japanese textiles and materials giant Teijin Ltd (3401 JP) announced a Tender Offer to buy 65% of the shares outstanding of Japan Tissue Engineering Co (7774 JP) (colloquially known as J-TEC). Current parent company FUJIFILM Holdings (4901 JP) has agreed to tender their 50.1% stake. The two sides went through the motions of finding a "fair price" for DCF purposes but effectively, that was to frame the agreed-upon transaction price between Teijin and FUJIFILM.This sets up an interesting trade on the front end, and mechanically higher than minimum pro-ration, but even for those who love partial offers, I would not crack out the champagne yet.I f you like the prospects for this business, there is a possibility this creates an interesting set-up.

Teijin Partial TOB For Japan Tissue Engineering (7774)

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Thematic (Sector/Industry)

The suggestion of government orchestration against <a href="https://www.smartkarma.com/entities/8979" target="_blank" data-smartkarma-citation="entities:8979:1">Ono</a>’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the Nikkei that the Japanese Health Ministry is considering setting rules on new drug usage during this fiscal year, starting with <a href="https://www.smartkarma.com/entities/8979" target="_blank" data-smartkarma-citation="entities:8979:1">Ono</a>’s Opdivo and <a href="https://www.smartkarma.com/entities/6091" target="_blank" data-smartkarma-citation="entities:6091">Astellas</a>’s Repatha. Patients may be limited to those who can see certain impact from the treatment, which in turn would mean the drug could only be prescribed at those institutions with the facilities to check…

The suggestion of government orchestration against Ono’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the Nikkei that the Japanese Health Ministry is considering setting rules on new drug usage during this fiscal year, starting with Ono’s Opdivo and Astellas’s Repatha. Patients may be limited to those who can see certain impact from the treatment, which in turn would mean the drug could only be prescribed at those institutions with the facilities to check…

Opdivo Singled Out in Government Rule Change

Japan

Japan Tissue Engineering Company., Ltd. is a medical biotechnology company. The Company develops regenerative medicine using tissue engineering technology. Japan Tissue Engineering also provides research support services.

Japan Tissue Engineering Co (7774 JP)

Last Week in Event SPACE: Toshiba, Cathay, OFAC's Walk Back, Trad Chi Med, Enplas, Car, Japan Asia

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Teijin Partial TOB For Japan Tissue Engineering (7774)

Teijin launches a Partial Tender for smallcap JTEC designed to transfer sponsorship control from FujiFilm to Teijin. Pro-ration should be in the 60...

Travis Lundy

Opdivo Singled Out in Government Rule Change

The suggestion of government orchestration against Ono’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the...

Pelham Smithers Associates