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 M&A] Reports of Hisamitsu "Family" MBO at ~¥450bn (Suggests ¥6400) Preview

Hisamitsu Pharma (4530 JP): New Products Take Mantle as Salonpas, Mohrus Slows, Guidance Reiterated

Hisamitsu Pharmaceutical (4530 JP): Guidance Reiterated Amid Seemingly Temporary Hiccup in Q1FY26

Quiddity Advisors

Event-Driven

Hisamitsu Pharmaceutical Co / Event-Driven

<ul>
<li>On 6 January, Bloomberg reported an MBO might be forthcoming at ¥450bn implying ¥6400. Bloomberg has trouble counting shares, so the real price announced later that day was ¥6,082.</li>
<li>I wrote about it that day warning of such, and suggested the price was not overly generous even at ¥6400 but that it might be difficult to block. </li>
<li>I thought I had followed up post-announcement but cannot see my piece so here's what I thought I wrote then, with follow-up thoughts.</li>
</ul>


On 6 January, Bloomberg reported an MBO might be forthcoming at ¥450bn implying ¥6400. Bloomberg has trouble counting shares, so the real price announced later that day was ¥6,082.
I wrote about it that day warning of such, and suggested the price was not overly generous even at ¥6400 but that it might be difficult to block. 
I thought I had followed up post-announcement but cannot see my piece so here's what I thought I wrote then, with follow-up thoughts.


[Japan M&A] Hisamitsu (4530 JP) Continues To Trade Through the Price But Not A Great Bet IMO