Mar 27Liked by AltayCap

Thanks for posting! I have a similar Japanese small cap value basket approach as part of my broader portfolio. Albeit slightly more concentrated (20 names currently) and with a little more focus on business quality (ROIC, FCF) in the screen, which brings the basket valuation up slightly (0.7x P/B) as some of the super cheap names get filtered out. Some companies in my portfolio that are not on your list are 5078 CEL, 9872 Kitakei and 1879 Shinnihon. They might be worth a look. The first two are trading below net cash (negative EV) and the third has net cash at 80% of market cap… Only in Japan!

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Mar 27·edited Mar 27Author

I should mention, I own quite a few more JP stocks than the ones listed in this basket above. Yodogawa Steel TYO 5451, Nitto Kohki TYO 6151, TV Asahi TYO 9409 are all super cheap names I own in much larger size than a typical name in the basket in the article, but I excluded it from this basket because they're all much larger and would skew the average size up quite a bit.

For an excellent writeup on Yodogawa Steel and Nitto Kohki see Otone's Substack:



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Are there any sites that shows some forecast of revenue or earnings of japanese stocks just like seeking alpha for us stocks?

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