Thanks for sharing. We have a lot of overlap in our Japanese Value portfolios... The only material position I own that I don't see on your list in 1879 Shinnihon, a condo developer with its own construction arm. 25 years of positive EBIT, 10-year sales CAGR of 7%, ¥75b cash vs. ¥66b market cap (i.e. negative EV), 0.6x P/B, 5.4x P/E. They could easily increase their dividend pay-out ratio to 100% (from ~15% today) given their rock-solid balance sheet -- that would be a 19% dividend yield...
Great update, thank you. I've owned Japanese net nets for 12+ years now after buying after the Fukushima event. It's great to see the regulatory nudge and potential catalyst. I'm curious, you mentioned that you borrowed in JPY in your IB account. Is that a U.S. account? If so, how did you go about borrowing in JPY and how much leverage is allowed with IB? Thanks again
Thanks very much for sharing the list. Lots of interesting companies. One question: with regards to Kinki Sharyo and Lonseal, have the parent companies said anything about acquiring these companies? I realise it would make a lot of sense but that doesn’t mean it will happen. It’s Japan after all. Also, I wrote up CEL Corporation on my Substack: I see you own that one too. I have a large position in that one.
Thank you for these posts - I also have several companies you mentioned in my list and have a bullish view on Japan stocks for the long term.
A quick question, as would love to get your take on this..How do you see the latest BoJ policy affecting the Japanese stocks? You see this having a major impact?
Thanks for sharing. We have a lot of overlap in our Japanese Value portfolios... The only material position I own that I don't see on your list in 1879 Shinnihon, a condo developer with its own construction arm. 25 years of positive EBIT, 10-year sales CAGR of 7%, ¥75b cash vs. ¥66b market cap (i.e. negative EV), 0.6x P/B, 5.4x P/E. They could easily increase their dividend pay-out ratio to 100% (from ~15% today) given their rock-solid balance sheet -- that would be a 19% dividend yield...
Great update, thank you. I've owned Japanese net nets for 12+ years now after buying after the Fukushima event. It's great to see the regulatory nudge and potential catalyst. I'm curious, you mentioned that you borrowed in JPY in your IB account. Is that a U.S. account? If so, how did you go about borrowing in JPY and how much leverage is allowed with IB? Thanks again
Thanks very much for sharing the list. Lots of interesting companies. One question: with regards to Kinki Sharyo and Lonseal, have the parent companies said anything about acquiring these companies? I realise it would make a lot of sense but that doesn’t mean it will happen. It’s Japan after all. Also, I wrote up CEL Corporation on my Substack: I see you own that one too. I have a large position in that one.
Thank you for these posts - I also have several companies you mentioned in my list and have a bullish view on Japan stocks for the long term.
A quick question, as would love to get your take on this..How do you see the latest BoJ policy affecting the Japanese stocks? You see this having a major impact?
Thanks, Sam