Primer: Kohnan Shoji (7516 JP) - Nov 2025
Kohnan Shoji is a leading home improvement retailer in Japan, demonstrating resilient growth through strategic store network expansion,...
154 Views
[Japan M&A] Who Owns Who: The Growing Concentration of Power in Japanese Consumer Markets
Consumer distribution has shifted post-2020, with market concentration driven by M&A and MBOs. We identify the leaders of this consolidation,...
484 Views
Joyful Honda (3191) - Repeats Its ASR In Double the Size
Joyful Honda is conducting another ASR-style buyback. It is worthwhile looking at what happened last time vs Peers, and understanding incentives...
535 Views
Kohnan Shoji (7516) Buyback - Shareholder Return? Activist Defense? Future MBO? All of the Above?
A Kohnan Shoji (7516) buyback announcement allows for decent market impact, on top of relatively cheap look-through PE-style valuation and activist...
477 Views
Very Large Keiyo (8168 JP) Buyback NOT Necessarily Bullish
Keiyo announced a large buyback for tomorrow AM. Big accretion is usually bullish but Keiyo is rich to peers, and it is not clear where incremental...
418 Views