In today’s briefing:
- Asahi (2502 JP) | Is Your Glass Half Full or Half Empty?
- JPX-Nikkei 400 Rebalance 2022: Leaderboard End-May 2022
- Japan’s Governance: About an Article on ESG Investors (2)
Asahi (2502 JP) | Is Your Glass Half Full or Half Empty?
- Q1 cost pressures surprised the market but the share price has already discounted the news
- Underlying beer demand is solid as global economies recover from 2 years of Covid restrictions
- Improving sales mix and higher prices should offset the cost pressures. With Asahi trading at the bottom of its valuation range, our glass is half full on the stock
JPX-Nikkei 400 Rebalance 2022: Leaderboard End-May 2022
- JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.
- A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year. We look at the potential forward inclusions and removals every month.
- Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2022 based on trading data as of end-May 2022.
Japan’s Governance: About an Article on ESG Investors (2)
- I would like to discus the Nikkei article “J-Power is under increasing pressure from ‘activist investors’ who are pressuring the company to take ESG actions.”
- From the standpoint of investment managers, if there is management risk, they will not fulfill their fiduciary responsibility unless they take appropriate actions to eliminate that risk.
- From J-Power’s perspective, it is difficult to imagine the company making its own management decisions without METI’s consent, given its history of being established as a national policy company.
Before it’s here, it’s on Smartkarma
