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

KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap

NTT (9432) Pullback Target to Buy for Rise to 4,250

TOPIX May Rebalance - The BIG Flows at the Close MONDAY

Strong Telecom Flows in TOPIX FFW Transition Months

NTT (Buy) - Q4 21 Results Reaction: Steady as She Goes

NTT and NTT Data Reshuffle the Deckchairs and Everyone "Wins"

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Event-Driven

NTT (Nippon Telegraph & Telephone) / Event-Driven

NTT (Nippon Telegraph & Telephone) (9432 JP)

<ul>
<li>The three Japanese telecoms reported earnings this week. <a href="https://www.smartkarma.com/entities/softbank-corp" target="_blank" data-smartkarma-citation="entities:27445:1" rel="noopener">Softbank Corp (9434 JP)</a> was disappointing (and slightly confusing). <a href="https://www.smartkarma.com/entities/kddi-corp" target="_blank" data-smartkarma-citation="entities:639:1" rel="noopener">KDDI Corp (9433 JP)</a> was much of a muchness.</li>
<li>
<a href="https://www.smartkarma.com/entities/nippon-telegraph-telephone-corporation" target="_blank" data-smartkarma-citation="entities:623:1" rel="noopener">NTT (Nippon Telegraph &amp; Telephone) (9432 JP)</a>  looked the best, and announced the largest buyback - ¥400bn or 3%. But it comes from a government sale, not the market. </li>
<li>Nevertheless, the company is doing what it promised and executing on its promise. And despite the "bullishness" in the revenue forecast, earnings forecasts to March 2023 look conservative.</li>
</ul>


The three Japanese telecoms reported earnings this week. Softbank Corp (9434 JP) was disappointing (and slightly confusing). KDDI Corp (9433 JP) was much of a muchness.

NTT (Nippon Telegraph &amp; Telephone) (9432 JP)  looked the best, and announced the largest buyback - ¥400bn or 3%. But it comes from a government sale, not the market. 
Nevertheless, the company is doing what it promised and executing on its promise. And despite the "bullishness" in the revenue forecast, earnings forecasts to March 2023 look conservative.


NTT (9432) - Salutary Earnings Salutary Buyback, More to Go