Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>Takuma, historically, was valued as a cyclical engineering firm. Today, its high-margin operation and maintenance (O&amp;M) mix and clean balance sheet, has narrated a turnaround story. </li>
<li>
<a href="https://www.smartkarma.com/entities/takuma-co-ltd" target="_blank" data-smartkarma-citation="entities:18994:1" rel="noopener">Takuma Co Ltd (6013 JP)</a> started its buyback small each time, but of late, they launched an 11% of outstanding shares buy back, and keen to <strong>cancel</strong> those shares too. </li>
<li>Their recent &gt;30% revenue and EPS growth makes the forward PER at 15x and although it may have some near term weakness, mid to long term growth prospect is intact. </li>
</ul>


Takuma, historically, was valued as a cyclical engineering firm. Today, its high-margin operation and maintenance (O&amp;M) mix and clean balance sheet, has narrated a turnaround story. 

Takuma Co Ltd (6013 JP) started its buyback small each time, but of late, they launched an 11% of outstanding shares buy back, and keen to cancel those shares too. 
Their recent &gt;30% revenue and EPS growth makes the forward PER at 15x and although it may have some near term weakness, mid to long term growth prospect is intact. 


Japan Specialist

Mark Chadwick

<ul>
<li>Takuma presents an undervalued investment opportunity with strong financials, and a robust balance sheet. The focus on environmental solutions position it to capitalize on the demand for carbon neutrality.</li>
<li>The recent involvement of AVI Japan as activist investors adds an exciting catalyst to Takuma's investment case. We expect AVI to work with management to unlock further value.</li>
<li>Takuma's management is targeting enhanced profitability by transitioning from a more volatile EPC model to a recurring revenue-driven approach centred on O&amp;M. Attractive valuations underpin our bullish view.</li>
</ul>


Takuma presents an undervalued investment opportunity with strong financials, and a robust balance sheet. The focus on environmental solutions position it to capitalize on the demand for carbon neutrality.
The recent involvement of AVI Japan as activist investors adds an exciting catalyst to Takuma's investment case. We expect AVI to work with management to unlock further value.
Takuma's management is targeting enhanced profitability by transitioning from a more volatile EPC model to a recurring revenue-driven approach centred on O&amp;M. Attractive valuations underpin our bullish view.


Takuma (6031) | AVI to Turn Waste into Wealth

Japan

TAKUMA CO., LTD. designs, constructs, operates, and maintains environmental facilities such as waste incinerator and water treatment plants.  The Company also manufactures industrial machinery such as boilers, gas turbines and air-conditioning equipment.  Additionally, Takuma operates real estate businesses.

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Takuma Co Ltd (6013 JP)

Takuma (6013): Not a Sleepy Boiler

Takuma's transformation from cyclical engineering firm to high-margin O&M operator with strong financials and growth potential highlighted by...

Henry Soediarko

Takuma (6031) | AVI to Turn Waste into Wealth

With a strong underlying business, impressive financials, and a positive future outlook, Takuma presents a strong investment opportunity that...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Takuma (6013): Not a Sleepy Boiler

​Takuma's transformation from cyclical engineering firm to high-margin O&M operator with strong financials and growth potential highlighted by...

Henry Soediarko

Takuma (6031) | AVI to Turn Waste into Wealth

With a strong underlying business, impressive financials, and a positive future outlook, Takuma presents a strong investment opportunity that...

Mark Chadwick

Takuma's transformation from cyclical engineering firm to high-margin O&M operator with strong financials and growth potential highlighted by...