Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>In the last two months, <a href="https://www.smartkarma.com/entities/amvis-holdings-inc" target="_blank" data-smartkarma-citation="entities:31511:1" rel="noopener">Amvis Holdings Inc (7071 JP)</a>, <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a>, and <a href="https://www.smartkarma.com/entities/sosei-group-corp" target="_blank" data-smartkarma-citation="entities:770:1" rel="noopener">Sosei Group (4565 JP)</a> have confirmed their moves to the Prime Market.</li>
<li>These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
In the last two months, Amvis Holdings Inc (7071 JP), AXXZIA Inc (4936 JP), and Sosei Group (4565 JP) have confirmed their moves to the Prime Market.
These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.


TOPIX Inclusions: Who Is Ready (Apr 2023)

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>In February, names which appeared in our "B" list such as <a href="https://www.smartkarma.com/entities/amvis-holdings-inc" target="_blank" data-smartkarma-citation="entities:31511:1" rel="noopener">Amvis Holdings Inc (7071 JP)</a> and <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a> announced they would be moving to the Prime Market.</li>
<li>In this insight, we take a look at updated lists, the price performance history of those baskets, and other interesting trades in the TOPIX index space.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.
In February, names which appeared in our "B" list such as Amvis Holdings Inc (7071 JP) and AXXZIA Inc (4936 JP) announced they would be moving to the Prime Market.
In this insight, we take a look at updated lists, the price performance history of those baskets, and other interesting trades in the TOPIX index space.


TOPIX Inclusions: Who Is Ready (Mar 2023)

<ul>
<li>Japan-Based skincare and cosmetics maker <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a> announced on 9th November 2022 they were planning to move from TSE Growth to TSE Prime.</li>
<li>
<a href="https://www.smartkarma.com/profiles/travis-lundy" target="_blank" data-smartkarma-citation="accounts:25" rel="noopener">Travis Lundy</a> was Bullish on this name as he discussed in <a href="https://www.smartkarma.com/insights/axxzia-4936-jp-topix-inclusion-is-likely-in-february" target="_blank" data-smartkarma-citation="insights:84740" rel="noopener">AXXZIA (4936 JP) - TOPIX Inclusion Is Likely In February</a> and the stock has gained around 12% since then. </li>
<li>Today after the close, <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a> announced they had received the approval for their Prime Market move in February which could lead to a TOPIX Inclusion in March.</li>
</ul>


Japan-Based skincare and cosmetics maker AXXZIA Inc (4936 JP) announced on 9th November 2022 they were planning to move from TSE Growth to TSE Prime.

Travis Lundy was Bullish on this name as he discussed in AXXZIA (4936 JP) - TOPIX Inclusion Is Likely In February and the stock has gained around 12% since then. 
Today after the close, AXXZIA Inc (4936 JP) announced they had received the approval for their Prime Market move in February which could lead to a TOPIX Inclusion in March.


TOPIX Inclusion: AXXZIA Inc (4936 JP) - Time to Take Profits

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<ul>
<li>Just under two weeks ago, <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a> announced it had on that day (9 November) applied to move to TSE Prime from TSE Growth. </li>
<li>It's an interesting one because of the strange differential between "tradable shares" and "float."</li>
<li>After some study, I think this could be a TOPIX inclusion at end-Feb 2023, but there are steps to take between now and then. </li>
</ul>


Just under two weeks ago, AXXZIA Inc (4936 JP) announced it had on that day (9 November) applied to move to TSE Prime from TSE Growth. 
It's an interesting one because of the strange differential between "tradable shares" and "float."
After some study, I think this could be a TOPIX inclusion at end-Feb 2023, but there are steps to take between now and then. 


AXXZIA (4936 JP) - TOPIX Inclusion Is Likely In February

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.

Equity Capital Markets

<p>We previously examined AXXZIA’s business model and growth drivers, concluding that prospects for top line growth were strong. Here, we highlight a few further points on AXXZIA’s potential revenue growth and likely OPMs and then address the company’s valuation in comparison to the larger Fancl.</p>

We previously examined AXXZIA’s business model and growth drivers, concluding that prospects for top line growth were strong. Here, we highlight a few further points on AXXZIA’s potential revenue growth and likely OPMs and then address the company’s valuation in comparison to the larger Fancl.

AXXZIA – Fully Priced but Still a Discount Vs. Peers

Japan

AXXZIA Inc. manufactures and distributes cosmetics. The Company produces eye creams, toners, essences, cleansers, moisturizing creams, masks, cleansing oils, and other products. AXXZIA markets its products throughout Japan.

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AXXZIA Inc (4936 JP)

TOPIX Inclusions: Who Is Ready (Apr 2023)

Amvis and Sosei will have TOPIX Inclusion events at the end of April 2023. Celsys has gained slightly and is close to being fully ready. There is...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Mar 2023)

The recent price decline of pre-event candidate CELSYS could be seen as a new buying opportunity. Amvis and Axxzia will have their TOPIX Inclusion...

Janaghan Jeyakumar, CFA

TOPIX Inclusion: AXXZIA Inc (4936 JP) - Time to Take Profits

There could be 1.2-1.9mn shares to buy at the end of March 2023 which is around of 3.9-6.5 days of volume based on 3-month ADV. However, the major...

Janaghan Jeyakumar, CFA

AXXZIA (4936 JP) - TOPIX Inclusion Is Likely In February

AXXZIA said 10 days ago it applied for TSE Prime. Timing should be 2 months, which suggests IF successful, end-Feb TOPIX inclusion. For that to...

Travis Lundy

AXXZIA – Fully Priced but Still a Discount Vs. Peers

AXXZIA's growth prospects in China appear highly attractive but on the surface implied valuations do not look cheap so we compare the company to...

Mio Kato

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