Sitemap - 2025 - Altay Capital - Mostly Value Investing

Unozawa-gumi Iron Works (6396): A Profitable $23m Nanocap at 10x P/E With Real Estate in Tokyo Worth 145,000x Carrying Value (Not a Typo)

Isamu Paint (TYO 4624) - A $43m Double Net Net Automotive Paint Co Trading at 12x P/E with 30 Years of Consistent Profitability

Furubayashi Shiko (TYO 3944) - A Deep Value Packaging Nanocap Trading at 9x P/E, 0.27x Book, and Well Below NCAV+Investments

3 Quick Pitches for 3 Deep Value Japanese Stocks: TOC (8841), Sankyo Kasei (8138), and Takase (9087)

Tokyo Automatic Machinery (TYO 6360) - Deep Value Nanocap with Improving Shareholder Returns, 0.4x P/B, and 7.8x Forward P/E

OUG Holdings (TYO 8041) - A 0.5x P/TBV Vertically Integrated Seafood Wholesaler in Osaka Trading at 5 P/E and Improving Shareholder Returns

Nippon Pigment (TYO 4119) - A Deep Value Pigments Manufacturer Trading at 0.25x Book That Did a Big Acquisition and Immediately Recorded More than its Market Cap in Bargain Purchase Gain

Perk for Paid Subs: Snapshot of Entire Cheap JP Basket (All my writeups / commentary will remain free)

Kinki Sharyo (TYO 7122) - A ¥10 billion Net Net Rolling Stock Manufacturer Trading at 0.3x Book Value and a 64% Discount to NCAV + Rental Real Estate

List of Parent-Child Listings on the Tokyo Stock Exchange

Tigers Polymers (TYO 4231) - Dirt Cheap Consistently Profitable Japanese Net-Net with Negative EV Trading at 0.3x P/TBV, 7.5x P/E, with U.S. Manufacturing

3 Quick Pitches for 3 Cheap Japanese Stocks: Nippon Shindo (5753), Nakakita Seisakusho (6496), and Wood One (7898)

Asaka Industrial (TYO 5962): A 350-Year-Old Profitable Nanocap Net-Net Trading at 0.4x P/B, 7x P/E, with Real Estate Worth 260x its Carrying Value

Kaneshita Construction (TYO 1897) - A Profitable Nanocap Net-Net Construction Company Trading at a 65% Discount to NCAV+Investment Securities

Unlocking Value: Dirt-Cheap Japanese Net-Net Chuoh Pack Gets 273% Premium Buyout Offer

Updated Thoughts on Some of My Biggest Positions In The Cheap Japanese Basket and Some New Positions

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