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>161 new CGRs were filed in February 2025. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.</li>
<li>THE BIG NEWS: The "Document 3" (linked below) of the TSE's 20th Council Meeting 18 Feb is worth reading carefully. This will set the stage for more takeover fun.</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.
161 new CGRs were filed in February 2025. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
THE BIG NEWS: The "Document 3" (linked below) of the TSE's 20th Council Meeting 18 Feb is worth reading carefully. This will set the stage for more takeover fun.


Japan CorpGovReports: TSE "Mgmt Conscious Blah Blah" (Mar25), 🚨 Read TSE Update Doc 3 🚨

<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>171 new CGRs were filed since 31-Dec-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.</li>
<li>A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.</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.
171 new CGRs were filed since 31-Dec-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.


Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Feb25), TSE Updates

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li>The new excitement of the MS&amp;AD story is the company's commitment to sell down all of its cross-shareholdings and to use proceeds to fund growth and dividends. </li>
<li>ROE is already far higher now than in recent years, and this can continue with rising dividends. </li>
<li>Monthly insurance sales figures give a good window on the core business, with growth rates in May YoY and YTD accelerating.</li>
</ul>


The new excitement of the MS&amp;AD story is the company's commitment to sell down all of its cross-shareholdings and to use proceeds to fund growth and dividends. 
ROE is already far higher now than in recent years, and this can continue with rising dividends. 
Monthly insurance sales figures give a good window on the core business, with growth rates in May YoY and YTD accelerating.


MS&AD Insurance - Sell Stocks to Zero; Drive Growth, Dividends. HFD on Policy Sales, Accelerating

<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>609 new CGRs were filed since 31-Nov-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.</li>
<li>A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.</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.
609 new CGRs were filed since 31-Nov-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.


Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Jan25), TSE Updates

<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>344 new CGRs were filed since 31 October. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.</li>
<li>The TSE Council for the Followup to Market Restructuring met a month ago. They want more progress and more fairness in fair takeovers. Worth reading the docs (here).</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.
344 new CGRs were filed since 31 October. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
The TSE Council for the Followup to Market Restructuring met a month ago. They want more progress and more fairness in fair takeovers. Worth reading the docs (here).


Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Dec24), TSE 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
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

MS&AD Insurance (8725 JP)

Japan CorpGovReports: TSE "Mgmt Conscious Blah Blah" (Mar25), 🚨 Read TSE Update Doc 3 🚨

The monthly update on CorpGovReports and Actions To Implement Blah Blah Blah. 161 new CGRs since Feb1. Important: Feb18 Document 3 on new opinions...

Travis Lundy

Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Feb25), TSE Updates

Every month the TSE provides a list of companies which have "Action To Implement Management Consciousness of Share Price/Cost of Capital." We do...

Travis Lundy

MS&AD Insurance - Sell Stocks to Zero; Drive Growth, Dividends. HFD on Policy Sales, Accelerating

MS&AD commits to sell down its cross-shareholding to zero, proceeds to fund growth, dividends. Core insurance sales improving, with April and May...

Daniel Tabbush

Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Jan25), TSE Updates

The end-December tally for Companies who have disclosed Actions to Ensure Management Consciousness of Cost of Capital and Share Price is smaller...

Travis Lundy

Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Dec24), TSE Updates

The TSE saw 344 Corporate Governance Reports filed this month. The TSE also posted its 18th Council on Market Restructuring documents which are...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)