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

Curator's Cut: Crude Reality, Reshuffling Gold Miners & Banking on Japanese Fintech

[Japan Event] Rakuten Bank (5838) - New Fintech Holding Would Be Positive IF Done Right

[Japan Event] Rakuten Bank (5838) - "Exciting" Mizuho News Doesn't Do Much But Expect More News Soon

Quiddity JPX-Nikkei 400 Rebal 2026: End-Feb 2026 Ranks

[Quiddity Index] Nikkei 225 Sep26 Rebal Preview II - 2 Auto ADDs, 1 Extra Likely, 1 Cap

If Rakuten (4755) Combines Financial Units... Who Wins and How? Well... It's Complicated

Quiddity Leaderboard TDIV Mar26: One Delete; ~10x ADV to Sell

Quiddity Advisors

Event-Driven

<ul>
<li>On 1 April 2024, <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> announced <a href="https://www.smartkarma.com/entities/rakuten-bank-ltd" target="_blank" data-smartkarma-citation="entities:35638:1" rel="noopener">Rakuten Bank (5838 JP)</a> and Rakuten Group would start talks aimed at creating a Fintech Group. I wrote <a href="https://www.smartkarma.com/insights/if-rakuten-4755-combines-financial-units-who-wins-and-how-well-it-s-complicated" target="_blank" rel="noopener">this</a>. Talks halted 6mos later.</li>
<li>Back then, word was Bank was dissatisfied with the ratios. As of 25 Feb 2026, they are starting talks again as Rakuten Group sees greater bank competition as rates rise.</li>
<li>This is slightly complicated. Mizuho owns 14.99% of Card, and 49% of Securities. But this can be done. And the formation leads to interesting outcomes. </li>
</ul>


On 1 April 2024, Rakuten (4755 JP) announced Rakuten Bank (5838 JP) and Rakuten Group would start talks aimed at creating a Fintech Group. I wrote this. Talks halted 6mos later.
Back then, word was Bank was dissatisfied with the ratios. As of 25 Feb 2026, they are starting talks again as Rakuten Group sees greater bank competition as rates rise.
This is slightly complicated. Mizuho owns 14.99% of Card, and 49% of Securities. But this can be done. And the formation leads to interesting outcomes. 


[Japan Event] Rakuten (4755) Fintech Group Led By Rakuten Bank (5838) Gets Bigger and Keeps 20% ROE