Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

Quality-first, Business-perspective Strategy

Urbem (HK) Limited

Equity Bottom-Up

<ul>
<li>ANYCOLOR is becoming a capital-light character-IP platform: monetisation per VTuber has compounded far faster than roster growth, while commerce now dominates revenue.</li>
<li>NIJISANJI has a narrow but valuable moat in brand, fan relationships and monetisation capabilities, despite low switching costs and limited structural barriers to competition.</li>
<li>Founder alignment, exceptional cash generation and planned shareholder returns support the thesis; at roughly 13–15x guided FY04/2027 earnings, expectations already look restrained.</li>
</ul>


ANYCOLOR is becoming a capital-light character-IP platform: monetisation per VTuber has compounded far faster than roster growth, while commerce now dominates revenue.
NIJISANJI has a narrow but valuable moat in brand, fan relationships and monetisation capabilities, despite low switching costs and limited structural barriers to competition.
Founder alignment, exceptional cash generation and planned shareholder returns support the thesis; at roughly 13–15x guided FY04/2027 earnings, expectations already look restrained.


ANYCOLOR (5032 JP): The Long-Term Thesis Is Commerce, Not Streaming

Independent Sell Side Equity Research Analyst, ChartSmarter

Douglas Busch

Independent Sell Side Equity Research Analyst

ChartSmarter

ChartSmarter is a service dedicated to the art of technical analysis.

On a daily basis we write up actionable ideas on a specific, major S&P sector on both the long and short side, in an easy yet thorough way. In the notes we give precise entries and exits, while looking to capture the "meat" of a trend.

Technical Analysis.

Technical Analysis

KraneShares CSI China Internet ETF / Technical Analysis

KraneShares CSI China Internet ETF (KWEB US)

<ul>
<li>China momentum continues with KWEB breaking out above WEEKLY double-bottom base</li>
<li>Stocks REPORTING this week that look technically sound include PDD BZ and EH</li>
<li>In-Depth look at individual leaders in Tencent Holdings, Futu Holdings, and Sony Group</li>
</ul>


China momentum continues with KWEB breaking out above WEEKLY double-bottom base
Stocks REPORTING this week that look technically sound include PDD BZ and EH
In-Depth look at individual leaders in Tencent Holdings, Futu Holdings, and Sony Group


Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The market now realise that EQT's playing the long game for <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com (2371 JP)</a>. Not optimal unless EQT thinks that they have a chance at a runoff. </li>
<li>Reportedly, <a href="https://www.smartkarma.com/entities/tokio-marine-holdings-inc" target="_blank" data-smartkarma-citation="entities:7591" rel="noopener">Tokio Marine Holdings (8766 JP)</a> has identified <a href="https://www.smartkarma.com/entities/suncorp-group-ltd" target="_blank" data-smartkarma-citation="entities:4218" rel="noopener">Suncorp (SUN AU)</a> as its preferred takeover target</li>
<li>
<a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-ltd" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua (3991 HK)</a> is a busted deal. Did the Offeror sound out all the necessary officials AND regulatory bodies before even launching the Offer.</li>
</ul>


The market now realise that EQT's playing the long game for Kakaku.com (2371 JP). Not optimal unless EQT thinks that they have a chance at a runoff. 
Reportedly, Tokio Marine Holdings (8766 JP) has identified Suncorp (SUN AU) as its preferred takeover target

Changhong Jiahua (3991 HK) is a busted deal. Did the Offeror sound out all the necessary officials AND regulatory bodies before even launching the Offer.


Last Week In Event SPACE: Kakaku.com, Suncorp, TCL Electronics, Changhong Jiahua, Steadfast

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Macroeconomics

<ul>
<li>US economic data while surprising on the upside fails to buoy the USD vs the JPY</li>
<li>BOJ awaiting shunto talks for more evidence of a sustained move out of deflation</li>
<li>What are the implications for global markets if mass repatriation of Japanese capital</li>
</ul>


US economic data while surprising on the upside fails to buoy the USD vs the JPY
BOJ awaiting shunto talks for more evidence of a sustained move out of deflation
What are the implications for global markets if mass repatriation of Japanese capital


The Bank of Japan Plays Footsie with the Market-Will They or Won’t They?

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>US stocks surprisingly resilient after sell-off. 10Y bond yield edges lower; Nikkei futures point to strong open</li>
<li>Sony’s outlook for profit growth in the coming year looks unappealing. Management transitions the PS5 to end-of-life care.</li>
<li>Japan’s diplomats are watching the yen - don’t they always; last intervention was at 152 to the dollar</li>
</ul>


US stocks surprisingly resilient after sell-off. 10Y bond yield edges lower; Nikkei futures point to strong open
Sony’s outlook for profit growth in the coming year looks unappealing. Management transitions the PS5 to end-of-life care.
Japan’s diplomats are watching the yen - don’t they always; last intervention was at 152 to the dollar


Ohayo Japan | Resilience; Sony Sunsets PS5

Japan

Sony Corporation manufactures audio, home video game consoles, communications, key device and information technology products for the consumer and professional markets.  The Company's other businesses include music, pictures, computer entertainment, and online businesses.

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Sony Corp (6758 JP)

ANYCOLOR (5032 JP): The Long-Term Thesis Is Commerce, Not Streaming

ANYCOLOR’s value lies less in livestreaming than in its ability to repeatedly monetise a growing portfolio of living IP through commerce, while...

Urbem Capital

Red Dragon Awakening

Focusing on Chinese names that have already been leading, and these are the ones most likely to continue to do so going forward. Very specific...

Douglas Busch

Last Week In Event SPACE: Kakaku.com, Suncorp, TCL Electronics, Changhong Jiahua, Steadfast

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

The Bank of Japan Plays Footsie with the Market-Will They or Won’t They?

Potential impact on global markets from Japanese capital repatriation. Despite positive US economic data, the USD is no longer strengthening...

Rikki Malik

Ohayo Japan | Resilience; Sony Sunsets PS5

US stocks remain resilient despite recent sell-off, as bond yields decrease and Nikkei futures indicate a strong opening. Sony's profit growth...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ANYCOLOR (5032 JP): The Long-Term Thesis Is Commerce, Not Streaming

ANYCOLOR’s value lies less in livestreaming than in its ability to repeatedly monetise a growing portfolio of living IP through commerce, while...

Urbem Capital

Red Dragon Awakening

Focusing on Chinese names that have already been leading, and these are the ones most likely to continue to do so going forward. Very specific...

Douglas Busch

Last Week In Event SPACE: Kakaku.com, Suncorp, TCL Electronics, Changhong Jiahua, Steadfast

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

The Bank of Japan Plays Footsie with the Market-Will They or Won’t They?

Potential impact on global markets from Japanese capital repatriation. ​Despite positive US economic data, the USD is no longer strengthening...

Rikki Malik

Ohayo Japan | Resilience; Sony Sunsets PS5

​US stocks remain resilient despite recent sell-off, as bond yields decrease and Nikkei futures indicate a strong opening. Sony's profit growth...

Mark Chadwick

Potential impact on global markets from Japanese capital repatriation. Despite positive US economic data, the USD is no longer strengthening...

US stocks remain resilient despite recent sell-off, as bond yields decrease and Nikkei futures indicate a strong opening. Sony's profit growth...