In today’s briefing:
- Spectris – KKR Clears Shareholder Hurdle; Arb Returns Now Timing-Dependent
- Networking Powers Nvidia’s Quarter, but Core Growth Under Scrutiny
- Brian Kim’s 15-Year Hit: Trading Kakao Through the Founder Risk
- Taiwan Teck Weekly: Apple Snags Over Half of TSMC’s Best Chips; Long-Reasoning AI Will Surge Compute
- Q1 Follow-Up – Startia Holdings (3393 JP) – August 18, 2025
- Shortlist Of High Conviction Ideas Across China, Japan, India – August 2025
- Warner Music Group: Enabling Growth With $1.2 Billion Catalog Buying Spree!
- GoDaddy Unveils Ask Airo to Redefine Customer Engagement With Agentic AI; Why AI Focused Innovation Is So Critical For Them To Survive?
- Silergy (6415.TT): 3Q25 Revenue Flat to Slightly Up QoQ; Annual Growth May Fall Short of 20%+.
- Twilio’s Voice AI Revolution: Could This Be the Secret to Dominating Enterprise Communications?
Spectris – KKR Clears Shareholder Hurdle; Arb Returns Now Timing-Dependent
- KKR’s £41.75/share cash-and-dividend offer for Spectris has secured overwhelming shareholder approval, with scheme completion likely in Q1 2026 pending court sanction and regulatory clearances under the UK Takeover Code.
- The deal implies a 105% premium to the undisturbed price and 15.6x EV/EBITDA multiple, with KKR already beginning to take control of governance and management direction at Spectris.
- At 4,040p close, the spread looks attractive; outcome is binary, but timing is the critical swing factor for returns as settlement drifts between January and March 2026.
Networking Powers Nvidia’s Quarter, but Core Growth Under Scrutiny
- Nvidia beat revenue expectations by 1.5% with $46.7 billion in revenue; data centre growth underwhelmed, with compute slipping sequentially.
- Blackwell is ramping at full speed, while Rubin’s six chips have already taped out at TSMC, keeping Nvidia’s annual launch cadence intact.
- Inventory jumped to $15B, and China licenses remain uncertain, leaving little margin for error.
Brian Kim’s 15-Year Hit: Trading Kakao Through the Founder Risk
- Brian Kim’s 15-year sentence request looks set to hit Kakao and affiliates — founder risk has always sparked volatility on Kakao, so the sharp market reaction is no surprise.
- But locals see odds of lighter or suspended time — if Kakao dumps on headline risk, it could be more entry window than pure downside.
- Event-Driven setup: short Kakao vs long Naver for relative value, but into sentencing, odds of lighter time suggest fading any overdone Kakao dump could be the cleaner trade.
Taiwan Teck Weekly: Apple Snags Over Half of TSMC’s Best Chips; Long-Reasoning AI Will Surge Compute
- Apple Secures Over Half of TSMC’s Cutting-Edge 2nm Capacity; How TSMC Anchors Apple’s Product Leadership Strategy
- NVIDIA Results Key Take-Away: Long-Reasoning AI Models Driving Massive Compute Demand
- Intel (INTC.US): Intel–U.S. Government Equity Deal: Implications and Industry Perspective
Q1 Follow-Up – Startia Holdings (3393 JP) – August 18, 2025
- Q1 FY2026/3 Results review: Startia Holdings, Inc. (hereafter, the Company) announced its Q1 (Apr– Jun) FY2026/3 results on August 8.
- The Company reported net sales of JPY 5,636 mn (+7.2% YoY), operating profit of JPY 593 mn (+11.2% YoY), ordinary profit of JPY 589 mn (+0.1% YoY), and net profit of JPY 402 mn (-17.9% YoY).
- The decrease in net profit was attributable to an increase in corporate tax expense related to share-based compensation and does not reflect any change in the Company’s fundamentals.
Shortlist Of High Conviction Ideas Across China, Japan, India – August 2025
- We compile our picks across Japan, China and India based on bottom-up triggers in each company.Our top picks in China Chow Tai Fook Jewellery (1929 HK) and Midea Group (300 HK)
- Post our insight Dongfeng Motor(489HK)-Abandoned Restructuring,Cash > MCap : Can It Be A Dark Horse In Coming Future? , Dongfeng Motor (489 HK) is up 150% driven by delisting offer.
- Our top picks in Japan areDenso Corp (6902 JP),ROHM Co Ltd (6963 JP) and in India,it is Mahindra & Mahindra (MM IN),Ashok Leyland (AL IN) and TVS Motor (TVSL IN)
Warner Music Group: Enabling Growth With $1.2 Billion Catalog Buying Spree!
- Warner Music Group (WMG) recently reported its fiscal third-quarter results, highlighting a return to revenue growth alongside strategic initiatives aimed at maintaining momentum and capturing further market share.
- The results showed a 7% increase in total revenue, with particular strength in its Recorded Music and Music Publishing segments.
- Notably, the company achieved an 8.5% growth in Recorded Music subscription streaming revenue, adjusted for notable items.
GoDaddy Unveils Ask Airo to Redefine Customer Engagement With Agentic AI; Why AI Focused Innovation Is So Critical For Them To Survive?
- GoDaddy’s second quarter results for 2025 present a distinct mixture of outcomes reflective of the company’s focused execution and challenges within the broader business landscape.
- Notably, the company’s adoption and integration of AI, specifically their Agentic AI, have been highlighted as significant growth levers.
- Nevertheless, as with all financial assessments, understanding both the positives and potential headwinds is crucial for painting a comprehensive picture.
Silergy (6415.TT): 3Q25 Revenue Flat to Slightly Up QoQ; Annual Growth May Fall Short of 20%+.
- 3Q25: Revenue flat to slightly up QoQ; GM stable at 52–54%. FY25: Prior 20%+ growth target unlikely to be achieved; weaker demand due to trade war & customer conservatism.
- No evidence of significant market share loss; instead, delayed demand.
- Automotive Ssegment continues to trend upward with new EV-related products. Competition in China is intense, especially EVs, but pricing remains rational.
Twilio’s Voice AI Revolution: Could This Be the Secret to Dominating Enterprise Communications?
- Twilio reported a robust second quarter for 2025, achieving significant milestones in both revenue and operational efficiency.
- The company generated $1.228 billion in revenue, marking a 13% year-over-year increase on both reported and organic bases.
- This performance underscores Twilio’s capacity for double-digit growth and signals a continued upward trajectory following several quarters of acceleration.
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