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 CorpGov] TSE "Mgmt Conscious" Reports (Mar26) - Disappointing Case Studies, Weak Study Group

[Japan Event] DeNA (2432 JP) - BIG Buyback Does Not Spur Performance, YET

[Japan CorpGov] TSE "Mgmt Conscious" Reports (Apr26) - Small Updates, Several Surveys/Consultations

[Japan Activism] DeNA Attracts Murakami Group - Potentially Squeezable With Reason

DeNA (2432) Buyback - Accretive on a Low Leverage Business Which Will Grow In Time

[Japan Pump 'n Dump] Murakami Group Starts Selling The Day After Reporting 5%

Quiddity Advisors

Event-Driven

<ul>
<li>On Friday, <a href="https://www.smartkarma.com/entities/nintendo-co-ltd" target="_blank" data-smartkarma-citation="entities:5415:1" rel="noopener">Nintendo (7974 JP)</a> announced 3 banks and <a href="https://www.smartkarma.com/entities/dena-co-ltd" target="_blank" data-smartkarma-citation="entities:747:1" rel="noopener">DeNA (2432 JP)</a> would sell Nintendo shares in a secondary offering. </li>
<li>DeNA simultaneously announced an update to <em>"Action to Implement Management that is Conscious of Cost of Capital and Stock Price"</em> (10Nov25). AND announced a BIG buyback and DOE policy.</li>
<li>The buyback is big, but long-term, not big enough. They need more. Can do more. Shareholder structure is odd so buyback dynamics quirky. This alone is worth looking into. </li>
</ul>


On Friday, Nintendo (7974 JP) announced 3 banks and DeNA (2432 JP) would sell Nintendo shares in a secondary offering. 
DeNA simultaneously announced an update to "Action to Implement Management that is Conscious of Cost of Capital and Stock Price" (10Nov25). AND announced a BIG buyback and DOE policy.
The buyback is big, but long-term, not big enough. They need more. Can do more. Shareholder structure is odd so buyback dynamics quirky. This alone is worth looking into. 


[Japan Event] DeNA (2432 JP) - BIG Buyback After Asset Sale, Commits to Better Capital Allocation