MegaChips Corp (TYO 6875): Trades at ¥11,250 but Gets You ¥19,842 of After-Tax SiTime

MegaChips Corp (TYO 6875) is one of several companies in Japan with a large stake in a publicly listed company in the U.S. that dwarfs its own market cap.

In this case, MegaChips owns ~10% of SITM. Off the top of my head there’s also Sanken Electric (TYO 6707) which owns 32% of ALGM.

But there’s a reason I’m writing about MegaChips instead of Sanken Electric: the discount is wider AND the remaining operating business is both simpler and better.