Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Nippon Active Value Fund redeployed ~$30m from Trancom tender offer in November into existing holdings</li>
<li>Meisei Industrial offers solid fundamentals, undervalued multiples (3.9x EV/EBITDA, 1x P/B), and potential for shareholder-friendly actions.</li>
<li>Shinko Shoji buys back 10.36% of outstanding shares, following activist's stake, and potentially paving the way for future buybacks.</li>
</ul>


Nippon Active Value Fund redeployed ~$30m from Trancom tender offer in November into existing holdings
Meisei Industrial offers solid fundamentals, undervalued multiples (3.9x EV/EBITDA, 1x P/B), and potential for shareholder-friendly actions.
Shinko Shoji buys back 10.36% of outstanding shares, following activist's stake, and potentially paving the way for future buybacks.


Japan Activist Briefs | NAVF Back to Work After Trancom Windfall

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Smallcap semiconductor/component/design/assembly service trading house <a href="https://www.smartkarma.com/entities/shinko-shoji-co-ltd" target="_blank" data-smartkarma-citation="entities:2322:1" rel="noopener">Shinko Shoji (8141 JP)</a> has been buying back stock. It cancelled 20% of shares out last year. Today it buys back nearly 7%. </li>
<li>The question is, who sells. What one might want to do may depend on who sells. And we will know that in 1-5 days. </li>
<li>The stock itself trades at less than net current assets. The entire market cap and indeed equity is its funding of inventory and net receivables. It's cheap. </li>
</ul>


Smallcap semiconductor/component/design/assembly service trading house Shinko Shoji (8141 JP) has been buying back stock. It cancelled 20% of shares out last year. Today it buys back nearly 7%. 
The question is, who sells. What one might want to do may depend on who sells. And we will know that in 1-5 days. 
The stock itself trades at less than net current assets. The entire market cap and indeed equity is its funding of inventory and net receivables. It's cheap. 


Shinko Shoji (8141) Buyback - Possibly An Interesting Development

Japan

Shinko Shoji Co., Ltd. sells electronic parts and equipment such as integrated circuits (IC) and semiconductor devices.  The Company's products include liquid crystal (LC) display modules, condensers, ferrite cores, coils, power supplies, thin film transistor (TFT) thermal printers, head magnets, transformers, motors, sensors, and connectors.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Shinko Shoji (8141 JP)

Japan Activist Briefs | NAVF Back to Work After Trancom Windfall

Nippon Active Value Fund reallocates funds, Meisei Industrial undervalued with potential for growth, Shinko Shoji initiates buyback after activist...

Mark Chadwick

Shinko Shoji (8141) Buyback - Possibly An Interesting Development

Shinko Shoji's top three shareholders are the major insider and former chairman, a US-based one-off value fund, and Murakami-san. The company will...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Activist Briefs | NAVF Back to Work After Trancom Windfall

​Nippon Active Value Fund reallocates funds, Meisei Industrial undervalued with potential for growth, Shinko Shoji initiates buyback after activist...

Mark Chadwick

Shinko Shoji (8141) Buyback - Possibly An Interesting Development

Shinko Shoji's top three shareholders are the major insider and former chairman, a US-based one-off value fund, and Murakami-san. The company will...

Travis Lundy

Nippon Active Value Fund reallocates funds, Meisei Industrial undervalued with potential for growth, Shinko Shoji initiates buyback after activist...