Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

Equity Bottom-Up

Tsingtao Brewery Co Ltd H / Equity Bottom-Up

<p>It is official! <a href="https://www.smartkarma.com/entities/10482" target="_blank" data-smartkarma-citation="entities:10482:1">Asahi Group Holdings Ltd (2502 JP)</a> has finally found a buyer for its 20% stake in <a href="https://www.smartkarma.com/entities/1296" target="_blank" data-smartkarma-citation="entities:1296:1">Tsingtao Brewery Co Ltd H (168 HK)</a> . Asahi currently owns 41% of Tsingtao's shares in HK. Post share sale, Asahi will own 18 million shares only, definitely not a majority investor anymore. </p><table class="table table-striped"><tbody>
<tr>
<td>Name of the buyer</td>
<td>Number of sale shares</td>
<td>Approximate % of total H shares</td>
<td>Approximate % of total issued shares </td>
</tr>
<tr>
<td>Fosun Industrial</td>
<td>153,255,626</td>
<td>23.4%</td>
<td>11.3%</td>
</tr>
<tr>
<td>Peak Reinsurance</td>
<td>7,173,861</td>
<td>1.1%</td>
<td>0.5%</td>
</tr>
<tr>
<td>Fidelidade</td>
<td>34,434,533</td>
<td>5.3%</td>
<td>2.6%</td>
</tr>
<tr>
<td>Star</td>
</tr>
</tbody></table>…

It is official! Asahi Group Holdings Ltd (2502 JP) has finally found a buyer for its 20% stake in Tsingtao Brewery Co Ltd H (168 HK) . Asahi currently owns 41% of Tsingtao's shares in HK. Post share sale, Asahi will own 18 million shares only, definitely not a majority investor anymore. 

Name of the buyer
Number of sale shares
Approximate % of total H shares
Approximate % of total issued shares 


Fosun Industrial
153,255,626
23.4%
11.3%


Peak Reinsurance
7,173,861
1.1%
0.5%


Fidelidade
34,434,533
5.3%
2.6%


Star

…

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Ito En Ltd Preferred Shares / Equity Bottom-Up

<p>In autumn of 2007, <a href="https://www.smartkarma.com/entities/9551" target="_blank" data-smartkarma-citation="entities:9551:1">Ito En Ltd (2593 JP)</a> issued preferred shares, distributing 3 shares for every 10 common shares owned. Those shares became <a href="https://www.smartkarma.com/entities/24022" target="_blank" data-smartkarma-citation="entities:24022:1">Ito En Ltd Preferred Shares (25935 JP)</a>. They are illiquid but they still trade. They are, to my knowledge, the only such pair trading in Japan at the moment. </p><h2>The History</h2><p>The stated concept was that the company wanted to attract more individual shareholders, but because most did not vote in shareholder meetings, the idea was to offer shares without votes but…</p>

In autumn of 2007, Ito En Ltd (2593 JP) issued preferred shares, distributing 3 shares for every 10 common shares owned. Those shares became Ito En Ltd Preferred Shares (25935 JP). They are illiquid but they still trade. They are, to my knowledge, the only such pair trading in Japan at the moment. The HistoryThe stated concept was that the company wanted to attract more individual shareholders, but because most did not vote in shareholder meetings, the idea was to offer shares without votes but…

Ito-En Pref Shares - Cheap Vs Common, Again, But...

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul><li>Total volume sales of <span class="TextHighLight">beer</span> increase by 3% in 2016, to reach 534 million litres</li></ul><ul><li>Younger consumers are playing an increasingly important role in <span class="TextHighLight">beer</span></li></ul><ul><li>Lager posts the fastest growth, rising by 3% in total volume terms in 2016</li></ul><ul><li>The average unit price sees little change, as players continue to discount during peak <span class="TextHighLight">beer</span>-drinking seasons</li></ul><ul><li><span class="TextHighLight">Taiwan</span> Tobacco &amp; Liquor Corp remains the leader in <span class="TextHighLight">beer</span> in 2016, despite a weakening position due to the strong competition</li></ul><ul><li>Total volume sales are anticipated to increase by a CAGR of 1% in the forecast period, to reach 570 million litres</li></ul>

Total volume sales of beer increase by 3% in 2016, to reach 534 million litresYounger consumers are playing an increasingly important role in beerLager posts the fastest growth, rising by 3% in total volume terms in 2016The average unit price sees little change, as players continue to discount during peak beer-drinking seasonsTaiwan Tobacco &amp; Liquor Corp remains the leader in beer in 2016, despite a weakening position due to the strong competitionTotal volume sales are anticipated to increase by a CAGR of 1% in the forecast period, to reach 570 million litres

<ul><li>In 2017 baby food increases by 2% in retail current value terms to reach JPY111.4 billion and increases by 1% in retail volume terms to reach 44,000 tonnes</li><li>Despite the declining number of births, prepared baby food and milk formula perform well due to the rising number of working mothers</li><li>Prepared baby food sees the strongest retail current value growth within baby food in 2017, with an increase of 3% to reach JPY23.0 billion</li><li>The average unit price of baby food increases by 1% in current terms in 2017</li><li>Meiji remains the leading player in baby food in Japan in 2017, accounting for a retail value share of 24%</li><li>Baby food in Japan will continue to register growth over the forecast period with a value CAGR of 2% at constant 2017 prices to reach JPY119.8 billion in 2022</li></ul>

In 2017 baby food increases by 2% in retail current value terms to reach JPY111.4 billion and increases by 1% in retail volume terms to reach 44,000 tonnesDespite the declining number of births, prepared baby food and milk formula perform well due to the rising number of working mothersPrepared baby food sees the strongest retail current value growth within baby food in 2017, with an increase of 3% to reach JPY23.0 billionThe average unit price of baby food increases by 1% in current terms in 2017Meiji remains the leading player in baby food in Japan in 2017, accounting for a retail value share of 24%Baby food in Japan will continue to register growth over the forecast period with a value CAGR of 2% at constant 2017 prices to reach JPY119.8 billion in 2022

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

<p>Bullish technicals continue to support our call to overweight EM. We highlight actionable themes, as well as pullback opportunities in Europe, European luxury/apparel, UK homebuilders, EM chemicals, Japanese chemicals, and Japanese tech stocks.</p>

Bullish technicals continue to support our call to overweight EM. We highlight actionable themes, as well as pullback opportunities in Europe, European luxury/apparel, UK homebuilders, EM chemicals, Japanese chemicals, and Japanese tech stocks.

Int'l Compass: Overweight EM; Actionable Themes in Europe and Japan

Japan

Asahi Group Holdings, Ltd. produces beer and other beverages including non-alcoholic drinks. The Company sells its products in Japan and overseas.

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Asahi Group Holdings (2502 JP)

Asahi Is Really Getting Out of Tsingtao!

It is official! Asahi Group Holdings Ltd (2502 JP) has finally found a buyer for its 20% stake in Tsingtao Brewery Co Ltd H (168 HK) . Asahi...

Henry Soediarko

Ito-En Pref Shares - Cheap Vs Common, Again, But...

In autumn of 2007, Ito En Ltd (2593 JP) issued preferred shares, distributing 3 shares for every 10 common shares owned. Those shares became Ito En...

Travis Lundy

Sector Briefing: Beer in Taiwan

Total volume sales of beer increase by 3% in 2016, to reach 534 million litresYounger consumers are playing an increasingly important role in...

Euromonitor International Ltd.

Sector Capsule: Baby Food in Japan

In 2017 baby food increases by 2% in retail current value terms to reach JPY111.4 billion and increases by 1% in retail volume terms to reach...

Euromonitor International Ltd.

Int'l Compass: Overweight EM; Actionable Themes in Europe and Japan

Bullish technicals continue to support our call to overweight EM. We highlight actionable themes, as well as pullback opportunities in Europe,...

Vermilion Research

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