Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dai-nippon-printing-co-ltd" target="_blank" data-smartkarma-citation="entities:19388:1" rel="noopener">Dai Nippon Printing (7912 JP)</a> is a range trade. The juice is in the speed of the Corporate Buyback and how excited people get.</li>
<li>With the renewal of the gaming concession in the bag and <a href="https://www.smartkarma.com/entities/melco-crown-entertainme-adr" target="_blank" data-smartkarma-citation="entities:810:1" rel="noopener">Melco Resorts (MLCO US)</a> up 128% in the past six months, <a href="https://www.smartkarma.com/entities/melco-international-development-ltd" target="_blank" data-smartkarma-citation="entities:809:1" rel="noopener">Melco (200 HK)</a> has extracted ~HK$2.5bn from MLCO.</li>
<li>
<a href="https://www.smartkarma.com/entities/hosokawa-micron-corp" target="_blank" data-smartkarma-citation="entities:6433:1" rel="noopener">Hosokawa Micron (6277 JP)</a>'s current PER of 9.9x ignores that net cash and securities holdings is about half of market cap. This is a cheap stock.  </li>
</ul>



Dai Nippon Printing (7912 JP) is a range trade. The juice is in the speed of the Corporate Buyback and how excited people get.
With the renewal of the gaming concession in the bag and Melco Resorts (MLCO US) up 128% in the past six months, Melco (200 HK) has extracted ~HK$2.5bn from MLCO.

Hosokawa Micron (6277 JP)'s current PER of 9.9x ignores that net cash and securities holdings is about half of market cap. This is a cheap stock.  


Last Week in Event SPACE: Dai Nippon Printing, Melco, Hosokawa Micron,Tencent/Meituan, Ihara Science

Travis Lundy

<ul>
<li>Today after the close, <a href="https://www.smartkarma.com/entities/hosokawa-micron-corp" target="_blank" data-smartkarma-citation="entities:6433:1" rel="noopener">Hosokawa Micron (6277 JP)</a> - a company which is all about powders and particles - announced a ToSTNeT-3 buyback of 1.35mm shares (8.26% TSO) tomorrow AM.</li>
<li>
<a href="https://www.smartkarma.com/entities/nisshin-seifun-group-inc" target="_blank" data-smartkarma-citation="entities:640:1" rel="noopener">Nisshin Seifun Group (2002 JP)</a> and subsidiary Nisshin Engineering said they would offer some shares in. The HM announcement said financial institutions might sell. </li>
<li>Hosokawa Micron is cheap, and this is accretive. Worth a closer look. </li>
</ul>


Today after the close, Hosokawa Micron (6277 JP) - a company which is all about powders and particles - announced a ToSTNeT-3 buyback of 1.35mm shares (8.26% TSO) tomorrow AM.

Nisshin Seifun Group (2002 JP) and subsidiary Nisshin Engineering said they would offer some shares in. The HM announcement said financial institutions might sell. 
Hosokawa Micron is cheap, and this is accretive. Worth a closer look. 


Hosokawa Micron (6277 JP) - Big Accretive Cross-Holder Share Buyback

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Inflation is on the rise in Japan. Consumers have not seen higher food prices for years and are in for a shock</li>
<li>Higher wheat prices will be painful. The impact of the Ukraine war will remain for several months. </li>
<li>Several food companies rely on wheat as a key ingredient, but the impact will be more severe for some. We highlight a carbo-neutral pair trade</li>
</ul>


Inflation is on the rise in Japan. Consumers have not seen higher food prices for years and are in for a shock
Higher wheat prices will be painful. The impact of the Ukraine war will remain for several months. 
Several food companies rely on wheat as a key ingredient, but the impact will be more severe for some. We highlight a carbo-neutral pair trade


Higher Prices to Test Japan's Appetite for Wheat

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

In today’s report we highlight the follow themes:<ul><li>As a whole, Europe continues to lag, but we like the price patterns—mostly multi-year bases. Recent weakness presents a buying opportunity, especially in leading countries, like Germany, and leading Sectors and Groups, such as software stocks. </li><li>Japan recently broke out above a key resistance level, making the current pullback all the more attractive. Add exposure.</li><li>EM remains unchallenged this year from a performance standpoint. While a pullback/pause wouldn’t surprise us, we expect EM to continue to lead, especially in light of the bottom pattern visible in the EM/ACWI ratio.</li><li>Today’s report includes actionable ideas across the developed and EM universe, and across multiple sectors.</li></ul>

In today’s report we highlight the follow themes:As a whole, Europe continues to lag, but we like the price patterns—mostly multi-year bases. Recent weakness presents a buying opportunity, especially in leading countries, like Germany, and leading Sectors and Groups, such as software stocks. Japan recently broke out above a key resistance level, making the current pullback all the more attractive. Add exposure.EM remains unchallenged this year from a performance standpoint. While a pullback/pause wouldn’t surprise us, we expect EM to continue to lead, especially in light of the bottom pattern visible in the EM/ACWI ratio.Today’s report includes actionable ideas across the developed and EM universe, and across multiple sectors.

Global Equity Pullback = Buying Opportunity

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<h2>Headlines</h2><ul><li>Cat food registers 3% current value growth to reach JPY181 billion in 2016, while volumes rise by 1% to 243,304 tonnes.</li><li>Significant expansion of products targeting senior cats.</li><li>Cat treats sees the fastest growth in 2016, with sales up 27% (to JPY10 billion) in current value terms and 25% (to 3,083 tonnes) in volume terms.</li><li>The unit price of cat food rises by 2% during the year, driven by developments in the premium segment.</li><li>Unicharm increases its market-leading value share in 2016, as Nestlé overtakes Mars to gain second place.</li><li>Cat food is expected to see a constant value CAGR of 2% over the forecast period to reach JPY203 billion in 2022.</li></ul>

HeadlinesCat food registers 3% current value growth to reach JPY181 billion in 2016, while volumes rise by 1% to 243,304 tonnes.Significant expansion of products targeting senior cats.Cat treats sees the fastest growth in 2016, with sales up 27% (to JPY10 billion) in current value terms and 25% (to 3,083 tonnes) in volume terms.The unit price of cat food rises by 2% during the year, driven by developments in the premium segment.Unicharm increases its market-leading value share in 2016, as Nestlé overtakes Mars to gain second place.Cat food is expected to see a constant value CAGR of 2% over the forecast period to reach JPY203 billion in 2022.

Japan

Nisshin Seifun Group Inc. produces and sells flour, fodder, processed foods, and medicines. The Company offers specialized pasta sauce, frozen foods, and gourmet soup. Nisshin Seifun Group also markets pet foods.

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Nisshin Seifun Group (2002 JP)

Last Week in Event SPACE: Dai Nippon Printing, Melco, Hosokawa Micron,Tencent/Meituan, Ihara Science

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

Higher Prices to Test Japan's Appetite for Wheat

Wheat production from Ukraine and Russia will be severely impact for the remainder of this year. Prices are set to remain higher for longer,...

Mark Chadwick

Global Equity Pullback = Buying Opportunity

In today’s report we highlight the follow themes: As a whole, Europe continues to lag, but we like the price patterns—mostly multi-year bases....

Vermilion Research

Sector Capsule: Cat Food in Japan

Headlines Cat food registers 3% current value growth to reach JPY181 billion in 2016, while volumes rise by 1% to 243,304 tonnes. Significant...

Euromonitor International Ltd.

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52-week Range

Market Cap (USDm)

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Last Week in Event SPACE: Dai Nippon Printing, Melco, Hosokawa Micron,Tencent/Meituan, Ihara Science

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

Hosokawa Micron (6277 JP) - Big Accretive Cross-Holder Share Buyback

Hosokawa Micron is buying back 8+% of its shares this morning. That changes shareholder register composition, and the stock is cheap. And it still...

Travis Lundy

Higher Prices to Test Japan's Appetite for Wheat

Wheat production from Ukraine and Russia will be severely impact for the remainder of this year. Prices are set to remain higher for longer,...

Mark Chadwick

Global Equity Pullback = Buying Opportunity

In today’s report we highlight the follow themes: As a whole, Europe continues to lag, but we like the price patterns—mostly multi-year bases....

Vermilion Research

Sector Capsule: Cat Food in Japan

Headlines Cat food registers 3% current value growth to reach JPY181 billion in 2016, while volumes rise by 1% to 243,304 tonnes. Significant...

Euromonitor International Ltd.