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

StubWorld: Toyota Industries/Motors, GMO Internet

[Japan M&A] Toyota Inds (6201) Proposed Takeover - It Looks Bad, and It's Worse Than It Looks

Toyota Motor (7203 JP) Outlook Amid Uncertainty Over Toyota Industries Privatization Bid

Toyota Industries (6201) - SURPRISE! It's a TOYODA Takeover Proposal (Good Governance May Not Win)

Toyota Industries (6201) - Thinking About How To Value a ¥6trln Bid

Toyota Group Cross-Holding Structure Primer - Holdings, Unwind Progress, Buyback Policies, Etc

Quiddity Advisors

Event-Driven

<ul>
<li>Friday 25 April, <a href="https://www.smartkarma.com/entities/toyota-industries-corp" target="_blank" data-smartkarma-citation="entities:4500:1" rel="noopener">Toyota Industries (6201 JP)</a> released earnings for last year, guidance for this year and a Bloomberg scoop suggested Toyota Motors chairman Akio TOYODA would launch an MBO.</li>
<li>In some ways surprising, but activists/"noisy shareholders" and TSE guidance on dual listings caused pressure, and Toyota Motors was trying to walk the good governance walk.</li>
<li>I discussed the situation <a href="https://www.smartkarma.com/insights/toyota-industries-6201-surprise-it-s-a-toyoda-takeover-proposal-good-governance-may-not-win" target="_blank" rel="noopener">here</a> on Day 1, and <a href="https://www.smartkarma.com/insights/toyota-industries-6201-thinking-about-how-to-value-a-6trln-bid" target="_blank" rel="noopener">here</a> a few days later. Long-only shareholders sold. Today, Kyodo had a follow-up article. Then Nikkei. Looks more solid now. </li>
</ul>


Friday 25 April, Toyota Industries (6201 JP) released earnings for last year, guidance for this year and a Bloomberg scoop suggested Toyota Motors chairman Akio TOYODA would launch an MBO.
In some ways surprising, but activists/"noisy shareholders" and TSE guidance on dual listings caused pressure, and Toyota Motors was trying to walk the good governance walk.
I discussed the situation here on Day 1, and here a few days later. Long-only shareholders sold. Today, Kyodo had a follow-up article. Then Nikkei. Looks more solid now. 


[Japan M&A/Activism] Toyota Industries (6201) Deal Could Be Announced Near-Term