Japan Morning Connection: Tech Strength Continues with a Swing to Semi-Cap, Boding Well for Japan
EDA names bounce back after yesterdays weakness. TEL flagged as an interesting underperforer. Kioxia may be running out of room to climb higher.
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JX Advanced Metals (5016 JP) IPO: Trading Debut
Since the price range was announced, the peers have modestly re-rated. My SoTP valuation of JPY859 is slightly above the IPO price, suggesting the...
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JX Advanced Metals (5016 JP) IPO: Price Range Is Fair
My SoTP valuation of JPY860 is modestly above the IPO price range of JPY810-820, suggesting that the price range is fair.
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JX Advanced Metals (5016 JP) IPO: Valuation Insights
In this note, we discuss valuation. My analysis suggests that JXAM is attractively valued at the IPO price compared to peer multiples.
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Kokusai Electric (6525 JP): Rumoured KKR US$1.8 Billion Secondary Offering
As Kokusai’s shares are trading at 3.2x the IPO price, KKR would be tempted to reduce its stake further. Expect a secondary offering announcement...
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