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

Kyocera (6971) And Their $10bn KDDI Stake - Did They Get CorpGov Religion?

KDDI (9433) - Own Share Tender Offer, Toyota To Sell (Gasp!)

Kyocera (6971 JP) Founder Kazuo Inamori Passes - Implications for Holdings

Quiddity Advisors

Event-Driven

<ul>
<li>Today, in conjunction with the release of Q3 earnings, <a href="https://www.smartkarma.com/entities/kyocera-corp" target="_blank" data-smartkarma-citation="entities:753:1" rel="noopener">Kyocera Corp (6971 JP)</a> announced a change in its Corporate Governance Code doc, a change in Cross-holding Policy, and Buyback Policy.</li>
<li>Full-Year earnings guidance revision was non-salutary. Revs -1%, OP -69%, Net Profit -72% vs previous predictions from 30 October (those were -1.5%, -38.2%, -36.6% vs April guidance at the time). </li>
<li>Based on this disappointment, they announced they would speed up the sale of crossholdings and buy back shares this year and over the following three years.</li>
</ul>


Today, in conjunction with the release of Q3 earnings, Kyocera Corp (6971 JP) announced a change in its Corporate Governance Code doc, a change in Cross-holding Policy, and Buyback Policy.
Full-Year earnings guidance revision was non-salutary. Revs -1%, OP -69%, Net Profit -72% vs previous predictions from 30 October (those were -1.5%, -38.2%, -36.6% vs April guidance at the time). 
Based on this disappointment, they announced they would speed up the sale of crossholdings and buy back shares this year and over the following three years.


Kyocera (6971) - Changes Policies - Will Sell KDDI Faster and Buy Back Shares