Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

[Japan Offering] ARCHION (543A) Incoming - Big Re-IPO Now Smaller, Better

[Japan Offering] ARCHION (543A JP) Offering Announced - The RE-IPO Is On

Toyota Motor (7203 JP) Tactical Outlook After Archion Secondary Offering

[Japan M&A] ARCHION (Hino+MFTBC) Merger Incoming; Still a Re-IPO, Still Rich

[Quiddity Index] Nikkei 225 Mar-2026 Rebal: Kioxia, PPIH IN, Casio GS Yuasa OUT. Big End-Mar Flows.

[Quiddity Index] Nikkei 225 Sep26 Rebal Preview Update - 2 Auto ADDs, 1 Extra, 1 Cap, NEW DELs

Quiddity Advisors

Event-Driven

<ul>
<li>Last week? ARCHION INCOMING!  This week? ARCHION HAS LANDED! <a href="https://www.smartkarma.com/entities/hino-motors-ltd" target="_blank" data-smartkarma-citation="entities:2144:1" rel="noopener">Hino Motors Ltd (7205 JP)</a> closed last week at ¥387/share. The stock is up 32%. On 5x the number of shares. </li>
<li>5x? Yes. In order to make this work, Toyota did a giant debt/equity swap AND bought into Mitsubishi Fuso Truck &amp; Bus, gave away value, and delegated management to MFTBC. </li>
<li>On the third day of trading, ARCHION looks to be 8.9x pro-forma EBITDA, ~17-18x PER, and 1.8x PBR vs Isuzu at 6x, &lt;10x, and &lt;1.1x. And a re-IPO is coming.</li>
</ul>


Last week? ARCHION INCOMING!  This week? ARCHION HAS LANDED! Hino Motors Ltd (7205 JP) closed last week at ¥387/share. The stock is up 32%. On 5x the number of shares. 
5x? Yes. In order to make this work, Toyota did a giant debt/equity swap AND bought into Mitsubishi Fuso Truck &amp; Bus, gave away value, and delegated management to MFTBC. 
On the third day of trading, ARCHION looks to be 8.9x pro-forma EBITDA, ~17-18x PER, and 1.8x PBR vs Isuzu at 6x, &lt;10x, and &lt;1.1x. And a re-IPO is coming.


[Japan Event] ARCHION (543A) HAS LANDED! Expensive, Overhang Galore; Risk Is MOOAR SQUEEZE