Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.</li>
<li>216 new CGRs filed in Aug-2025 (after 783 in July, 1,389 in June). Our tools show every report, links to every document, and a diff-file tool. Input name, see changes.</li>
<li>The JPX Council of Experts met on 2 Sep (and 9 July before that). The parent-sub changes are slow to come. 2 Sep docs may be worth reading in parts.</li>
</ul>


TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.
216 new CGRs filed in Aug-2025 (after 783 in July, 1,389 in June). Our tools show every report, links to every document, and a diff-file tool. Input name, see changes.
The JPX Council of Experts met on 2 Sep (and 9 July before that). The parent-sub changes are slow to come. 2 Sep docs may be worth reading in parts.


[Japan CorpGov] TSE "Mgmt Conscious" Reports (Sep25), TSE Presents Interesting Feedback

<ul>
<li>TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.</li>
<li>783 new CGRs filed in July 2025 (after 1,389 in June). Our tools show every report, links to every document, and a diff-file tool. Input a name, see the changes.</li>
<li>The JPX Council of Experts met on 9 July. The parent-sub changes are slow to come. </li>
</ul>


TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.
783 new CGRs filed in July 2025 (after 1,389 in June). Our tools show every report, links to every document, and a diff-file tool. Input a name, see the changes.
The JPX Council of Experts met on 9 July. The parent-sub changes are slow to come. 


[Japan CorpGov] TSE "Mgmt Conscious" Reports (Aug25), Changes to Code of Corporate Conduct

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published in the past two weeks on Smartkarma</li>
<li>In this cut, we compare Japanese insurers versus banks, look at the Chinese EV sector and explore how tariff hikes benefit Asian port operators</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published in the past two weeks on Smartkarma
In this cut, we compare Japanese insurers versus banks, look at the Chinese EV sector and explore how tariff hikes benefit Asian port operators
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Kokusai Electric  / Equity Capital Markets

<ul>
<li>KKR is looking to raise approximately US$620m through an accelerated secondary offering for around 13% of <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a>'s (KE) stock.</li>
<li>KKR had sold in the IPO and undertaken an extended selldown in July 2024 as well. Hence, this deal is somewhat well flagged.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


KKR is looking to raise approximately US$620m through an accelerated secondary offering for around 13% of Kokusai Electric (6525 JP)'s (KE) stock.
KKR had sold in the IPO and undertaken an extended selldown in July 2024 as well. Hence, this deal is somewhat well flagged.
In this note, we will talk about the placement and run the deal through our ECM framework.


Kokusai Electric Placement - Well Flagged but past Deal Didn’t Do Well

<ul>
<li>TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.</li>
<li>1,389 new CGRs filed since 1 June 25. Our tools show every report, links to every document, and a diff-file tool. Input a name, see the changes in the reports.</li>
<li>The JPX Council of Experts met on 22 April. Next meeting is in a week. Parent-sub follow-ups in Fall/Winter 2025. Slow. </li>
</ul>


TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.
1,389 new CGRs filed since 1 June 25. Our tools show every report, links to every document, and a diff-file tool. Input a name, see the changes in the reports.
The JPX Council of Experts met on 22 April. Next meeting is in a week. Parent-sub follow-ups in Fall/Winter 2025. Slow. 


[Japan CorpGov] TSE "Mgmt Conscious" Reports (Jul25), Minor Updates

Japan

MS&AD Insurance Group Holdings, Inc. is a holding company established through reorganization of Mitsui Sumitomo Insurance Company, Limited.  The Group writes marine, fire, casualty, automobile, life, and allied insurance policies. MS&AD Insurance Group also operates financial services and agencies.

Price Gauge
52-week Range	0.00 - 0.00
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MS&AD Insurance (8725 JP)

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Sep25), TSE Presents Interesting Feedback

Every month the TSE presents a new report on the status of Management Consciousness of Share Price and blah blah blah. We tally the data in an easy...

Travis Lundy

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Aug25), Changes to Code of Corporate Conduct

Every month the TSE does a "Management Awareness of Cost of Capital and Share Price" list. We try to do better. There is a new Corporate Code of...

Travis Lundy

Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...

Pranav Rao

Kokusai Electric Placement - Well Flagged but past Deal Didn’t Do Well

KKR is looking to raise approximately US$620m through an accelerated secondary offering for around 13% of Kokusai Electric (6525 JP)'s (KE) stock.

Sumeet Singh

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Jul25), Minor Updates

The monthly file with all the summaries/links to Corporate Governance Reports in Japan and status of Management Conscious/etc... 1,389 filings in...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Sep25), TSE Presents Interesting Feedback

Every month the TSE presents a new report on the status of Management Consciousness of Share Price and blah blah blah. We tally the data in an easy...

Travis Lundy

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Aug25), Changes to Code of Corporate Conduct

Every month the TSE does a "Management Awareness of Cost of Capital and Share Price" list. We try to do better. There is a new Corporate Code of...

Travis Lundy

Curator's Cut: Japan Insurers Vs Banks, the State of the Chinese EV Sector & Asian Ports in Focus

​This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...

Pranav Rao

Kokusai Electric Placement - Well Flagged but past Deal Didn’t Do Well

KKR is looking to raise approximately US$620m through an accelerated secondary offering for around 13% of Kokusai Electric (6525 JP)'s (KE) stock.

Sumeet Singh

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Jul25), Minor Updates

The monthly file with all the summaries/links to Corporate Governance Reports in Japan and status of Management Conscious/etc... 1,389 filings in...

Travis Lundy

This Curator's Cut issue compares Japanese insurers vs banks amidst rising yields, the state of the Chinese EV sector and how Asian port operators...