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 Buyback] Denso (6902) And Aisin (7259) Start Large Tender Buybacks; Tsusho Likely, Ibiden a ❓

[Japan M&A/Activism] Toyota Fudosan -TICO (6201) Deal VII - Risks, Risk Mgmt, and Cui Bono?

[Japan Special] Ibiden (4062) Replaces Nidec (6594) In Nikkei 225 on Accounting - A VERY BIG DEAL

[Japan M&A/Activism] ToyotaRE-TICO (6201) Deal VI - Now 7% Thru at 1.0x BVPS... What Will Toyota Do?

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

Quiddity Advisors

Equity Capital Markets

<ul>
<li>The stock is up 400% in a year. 3yr forward revenue consensus is up 20%, 3yr forward consensus earnings are up 50%. Multiples are therefore WAAAAY up. </li>
<li>Today, five banks announced a partial selldown. They have more to go after, and there are lots of corporate crossholders not involved here. </li>
<li>There is a big index upweight Friday after upweights in October and a Nikkei inclusion in November. HALF the September Max Real World Float has moved to Passive in 5mos.</li>
</ul>


The stock is up 400% in a year. 3yr forward revenue consensus is up 20%, 3yr forward consensus earnings are up 50%. Multiples are therefore WAAAAY up. 
Today, five banks announced a partial selldown. They have more to go after, and there are lots of corporate crossholders not involved here. 
There is a big index upweight Friday after upweights in October and a Nikkei inclusion in November. HALF the September Max Real World Float has moved to Passive in 5mos.


[Japan Offering] Five Banks Offer 3% of Ibiden (4062) After 400% 12mo Run into Friday's Index Buy

Ibiden Co Ltd

[Japan Offering] Five Banks Offer 3% of Ibiden (4062) After 400% 12mo Run into Friday's Index Buy