Daily Brief Japan: Shibaura Electronics, Toyota Industries, TSE Tokyo Price Index TOPIX and more

In today’s briefing:

(Mostly) Asia-Pac M&A: Xanadu Mines, Reject Shop, ESR Group, Shibaura Elect., Jamco, Tsuruha/Welcia
Last Week in Event SPACE: Toyota Industries, CATL, Mitsubishi Logisnext, Mayne Pharma, Melco
A Company that Performs Well Has Shareholders with Influential Equity Interests

(Mostly) Asia-Pac M&A: Xanadu Mines, Reject Shop, ESR Group, Shibaura Elect., Jamco, Tsuruha/Welcia

I tally 46 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma.
Just one new deal was discussed on Smartkarma this week: Bastion’s off-market Offer for Xanadu Mines (XAM AU).
Key updates/news took place on: Reject Shop (TRS AU),ESR Group (1821 HK), Shibaura Electronics (6957 JP),Jamco Corp (7408 JP), and Tsuruha Holdings (3391 JP)/Welcia Holdings (3141 JP).

Winner winner chicken dinner. A Nikke article suggests a bid higher than ¥6tn for Toyota Industries (6201 JP). In addition, people thinking about ¥18,400/share are going about this incorrectly.
Contemporary Amperex Technology (CATL) (3750 HK) pops on its IPO debut. The HKEx has issued a high concentration warning
Mitsubishi Logisnext Co., Ltd. (7105 JP) is still ragingly cheap given the move to delist dual parent/sub listings and having a global footprint. Own it here and now.

The biggest difference between founder family companies and others is the shareholding, and the presence of certain percentage of founder family’s equity would have positive impact on management and performance.
When the founding family is a major shareholder, they can manage the company from the same perspective as shareholders, sharing the same goal of maximizing corporate value with them.
A company with shareholders with equity interests that exceed a certain level of influence cannot manage without regard to its shareholders. MBOs are also expected for founder family companies.

💡 Before it’s here, it’s on Smartkarma

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