Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/proto-corp" target="_blank" data-smartkarma-citation="entities:2511:1" rel="noopener">Proto Corp (4298 JP)</a> is not the name on people's lips, but everyone who knows cars in Japan knows this company. They have run car mags for decades.</li>
<li>Now they do other things too but car magazines, websites, and associated data provision are worth 90% of OP. And they are ubiquitous, and growth has been good. </li>
<li>Management forecasts for growth are a damp squib. This is opportunistic. </li>
</ul>



Proto Corp (4298 JP) is not the name on people's lips, but everyone who knows cars in Japan knows this company. They have run car mags for decades.
Now they do other things too but car magazines, websites, and associated data provision are worth 90% of OP. And they are ubiquitous, and growth has been good. 
Management forecasts for growth are a damp squib. This is opportunistic. 


Proto Corp (4298) - MBO After Restatement Scandal Is Opportunistic at ¥2,100 (+64%)

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/proto-corp" target="_blank" data-smartkarma-citation="entities:2511:1" rel="noopener">Proto Corp (4298 JP)</a> has recommended an MBO tender offer at JPY2,100, a 64.1% premium to the last close.</li>
<li>The offer is attractive as it is above the midpoint of the target IFA’s DCF valuation range and 25% above the all-time high.</li>
<li>Despite the presence of two substantial shareholders, an attractive offer suggests that this is a done deal. The tender offer ends on 21 March, with payment on 28 March</li>
</ul>



Proto Corp (4298 JP) has recommended an MBO tender offer at JPY2,100, a 64.1% premium to the last close.
The offer is attractive as it is above the midpoint of the target IFA’s DCF valuation range and 25% above the all-time high.
Despite the presence of two substantial shareholders, an attractive offer suggests that this is a done deal. The tender offer ends on 21 March, with payment on 28 March


Proto Corp (4298 JP): MBO Tender Offer Represents an All-Time High

Japan

PROTO CORPORATION provides information about new and pre-owned cars, motorcycles, and parts through magazines and the Internet.  The Company also provides information such as restaurants, golf courses, and ski resorts.  Proto Corp's Web site allows its users to research automobile pricing and insurance.

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Proto Corp (4298 JP)

Proto Corp (4298) - MBO After Restatement Scandal Is Opportunistic at ¥2,100 (+64%)

Proto Corp - operator of GooNet magazines and media properties for the automotive sector - sees its founder family try an MBO. The premium is high...

Travis Lundy

Proto Corp (4298 JP): MBO Tender Offer Represents an All-Time High

The offer is attractive as it is above the midpoint of the target IFA’s DCF valuation range and 25% above the all-time high. This is a done deal.

Arun George

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