Daily Brief Event-Driven: [Japan Event] Sony Financial Spin-Off Trades Monday - Fina(Ncia)L Thoughts and more

In today’s briefing:

[Japan Event] Sony Financial Spin-Off Trades Monday – Fina(Ncia)L Thoughts
Waaree Energies Under US Scrutiny: A Solar Powerhouse Faces Tariff Probe
Chorus Aviation’s Odd Lot Tender Offers Potential C$45 Upside for Tax-Exempt Investors Amid Share Buyback

[Japan Event] Sony Financial Spin-Off Trades Monday – Fina(Ncia)L Thoughts

Today is the last day of trading for Sony Corp (6758 JP) with Sony Financial Group (8729 JP) spin-off rights. SFGI starts trading separately on Monday 29 Sep.
The reference price is ¥150/share. It will likely stay in all major indices except Nikkei 225, and it likely needs low ¥160s to stay in M _ _ _.
The estimated Div Yield is higher on SFGI than peers by a fair ways, and looks to grow, and there is a big buyback to come. I like it.

The U.S. Customs and Border Protection (CBP) has launched a formal investigation into Waaree Energies, alleging the company evaded anti-dumping and countervailing duties by mislabeling Chinese-made solar products as Indian.
The probe, initiated by a U.S. domestic manufacturing coalition, directly threatens India’s growing solar exports to the U.S. and highlights the complexities of global supply chains.
This investigation introduces significant regulatory and financial risk for Waaree Energies, and the outcome will be a crucial for its ability to participate in the U.S. market.

Chorus Aviation is repurchasing 8% of shares at C$23.00–C$25.00, with odd-lot holders prioritized.
Paid-up capital is C$15.75/share; amounts above this are treated as dividends, impacting tax-exempt accounts.
Previous tender was undersubscribed; CHR shares viewed as undervalued, with historic low EBITDA multiples.

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