Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>The shares are off 30% since the start of the year and thus may well bounce in a better market, as may well lots of other things too. Given the outlook for the next 12 months or so we can see little to really excite but the operating environment is not as bad as during the Kumamoto earthquake when the shares fell to Y2,500 and this company is a decent proxy on inbound travel. The expansion of Nagasaki Port to accommodate large cruise ships next summer will clearly be a positive and help improve…</p>

The shares are off 30% since the start of the year and thus may well bounce in a better market, as may well lots of other things too. Given the outlook for the next 12 months or so we can see little to really excite but the operating environment is not as bad as during the Kumamoto earthquake when the shares fell to Y2,500 and this company is a decent proxy on inbound travel. The expansion of Nagasaki Port to accommodate large cruise ships next summer will clearly be a positive and help improve…

HIS (9603) Dull near Term but Will Benefit from Nagasaki Port Expansion, so Don't Write It Off Here

H.I.S. Co

HIS (9603) Dull near Term but Will Benefit from Nagasaki Port Expansion, so Don't Write It Off Here