Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

NTT (Nippon Telegraph & Telephone) / Event-Driven

<ul>
<li>The last of the three-leg rebalance for TOPIX and JPNK400 index weights takes place Wednesday 29 June at the close. This one is a bit larger than expected in April.</li>
<li>There were a large number of cancellations of shares by TSE Prime members in May which ups the predicted value to be traded. </li>
<li>Interestingly, because lots of names have seen share cancellations and FFW drops, the average passive ownership of TSE Float (not other providers' float) has gone up significantly through this process. </li>
</ul>


The last of the three-leg rebalance for TOPIX and JPNK400 index weights takes place Wednesday 29 June at the close. This one is a bit larger than expected in April.
There were a large number of cancellations of shares by TSE Prime members in May which ups the predicted value to be traded. 
Interestingly, because lots of names have seen share cancellations and FFW drops, the average passive ownership of TSE Float (not other providers' float) has gone up significantly through this process. 


Last Leg of TOPIX and JPNK400 FFW Rebal - ¥780bn One-Way Flow Wednesday

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

Posco International Corporation / Equity Bottom-Up

<ul>
<li>In this insight, we review Warren Buffett's stakes in Japanese trading  companies and review investment opportunities in Korean trading companies amid a war between Russia and Ukraine. </li>
<li>The recent war between Russia and Ukraine has resulted in higher commodities prices. This has boosted the share prices of commodities related companies globally, including Japanese and Korean trading companies.
</li>
<li>We would focus on GS Global Corp, Hanwha Corporation, Posco International Corporation, and LX International as Korean trading companies that could continue to outperform the market amid war in Ukraine. </li>
</ul>


In this insight, we review Warren Buffett's stakes in Japanese trading  companies and review investment opportunities in Korean trading companies amid a war between Russia and Ukraine. 
The recent war between Russia and Ukraine has resulted in higher commodities prices. This has boosted the share prices of commodities related companies globally, including Japanese and Korean trading companies.

We would focus on GS Global Corp, Hanwha Corporation, Posco International Corporation, and LX International as Korean trading companies that could continue to outperform the market amid war in Ukraine. 


Buffett’s Stakes in Japanese Trading Firms & A Review of Korean Trading Firms Amid War in Ukraine

<ul>
<li>Itochu today announced a buyback program to buy US$500mm+ in the next 10 weeks. </li>
<li>Net income growth, a rising dividend, and balanced risk book help it perform with low beta and medium correlation to peers. </li>
<li>The low volatility-relative multiple is supportive, and the buyback helps, but style bias vs Peers matters more. </li>
</ul>


Itochu today announced a buyback program to buy US$500mm+ in the next 10 weeks. 
Net income growth, a rising dividend, and balanced risk book help it perform with low beta and medium correlation to peers. 
The low volatility-relative multiple is supportive, and the buyback helps, but style bias vs Peers matters more. 


Short-Term Itochu Buyback - A Cushion, But Style Bias Matters More

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<h3>What’s Original?</h3>
In this original, we have discussed some of the key aspects highlighted in Kishida’s policy statements along with the current status of these policies and companies that are likely to benefit.

What’s Original?
In this original, we have discussed some of the key aspects highlighted in Kishida’s policy statements along with the current status of these policies and companies that are likely to benefit.

Kishida as Prime Minister: The Path Ahead

<a href="https://asia.nikkei.com/Business/Energy/Japan-taps-Australia-and-Brunei-for-hydrogen-import-goal" target="_blank" rel="noopener">Momentum is building within East Asia to propel the Hydrogen economy forward</a> as Japan, Korea and China have demonstrated interest in investing heavily in the technology, a call that is being answered by a variety of players through the supply chain. We examine below the key investment opportunities and timelines for these players.

Momentum is building within East Asia to propel the Hydrogen economy forward as Japan, Korea and China have demonstrated interest in investing heavily in the technology, a call that is being answered by a variety of players through the supply chain. We examine below the key investment opportunities and timelines for these players.

Japan

Marubeni Corporation is a trading company with business divisions in iron & steel, information technology, utility & infrastructure, energy, food, metals & mineral resources, development & construction, and chemicals.  The Company markets its products globally through a network of sales offices and representative firms.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Marubeni Corp (8002 JP)

Last Leg of TOPIX and JPNK400 FFW Rebal - ¥780bn One-Way Flow Wednesday

There are 2+ days until the last stage of the TSE FFW Rebalance is done. This time sees more changes because of increased share cancellation in...

Travis Lundy

Buffett’s Stakes in Japanese Trading Firms & A Review of Korean Trading Firms Amid War in Ukraine

We would focus on GS Corp, Hanwha Corporation, Posco International Corporation, and LX International as Korean trading companies that could...

Douglas Kim

Short-Term Itochu Buyback - A Cushion, But Style Bias Matters More

Itochu has announced a buyback to execute in the next 10 weeks. It is a decent part of ADV but not overwhelming. It should support the stock vs...

Travis Lundy

Kishida as Prime Minister: The Path Ahead

In this original, we have discussed some of the key aspects highlighted in Kishida’s policy statements along with the current status of these...

Mio Kato

Asia’s Hydrogen Economy

China's increasing favour towards hydrogen is starting to generate investor interest in potential hydrogen economy and FCV plays. We examine...

Mio Kato

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)