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

Biofermin Pharmaceutical Co / Event-Driven

<p>On 14th May, Pharmaceutical company <a href="https://www.smartkarma.com/entities/biofermin-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:20533:1" rel="noopener">Biofermin Pharmaceutical Co (4517 JP)</a> (<strong>"<em>Biofermin</em>"</strong>) announced they had agreed to merge with their parent <a href="https://www.smartkarma.com/entities/taisho-pharmaceutical-holdin" target="_blank" data-smartkarma-citation="entities:3774:1" rel="noopener">Taisho Pharmaceutical Holdin (4581 JP)</a> (<strong>"<em>Taisho</em>"</strong>) which will result in Biofermin getting delisted from the Tokyo Stock Exchange. </p><p>Biofermin shareholders will receive 0.5 Taisho shares per Biofermin share.</p><p>The Biofermin shareholder meeting for approving the Deal is expected to be on 24th June 2021 and the Merger is expected to become effective on 1st August 2021. </p><p><em>More below the fold.</em></p>

On 14th May, Pharmaceutical company Biofermin Pharmaceutical Co (4517 JP) ("Biofermin") announced they had agreed to merge with their parent Taisho Pharmaceutical Holdin (4581 JP) ("Taisho") which will result in Biofermin getting delisted from the Tokyo Stock Exchange. Biofermin shareholders will receive 0.5 Taisho shares per Biofermin share.The Biofermin shareholder meeting for approving the Deal is expected to be on 24th June 2021 and the Merger is expected to become effective on 1st August 2021. More below the fold.

Biofermin (4517 JP) - Taisho (4581 JP): Merger Is a Done Deal

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

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)

<p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p><p style="text-align: left;">As we move towards the beginning of the disclosure season for the March/June/September/ December cohort of companies, several companies are revising their forecasts upwards. We also had five early-bird micro-cap Q3 reports. Our best and worst pairing from yesterday's announcements is <a href="https://www.smartkarma.com/entities/capcom-co-ltd" target="_blank" data-smartkarma-citation="entities:1459:1" rel="noopener">Capcom (9697 JP)</a> and <a href="https://www.smartkarma.com/entities/biofermin-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:20533:1" rel="noopener">Biofermin Pharmaceutical (4517 JP)</a>.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/183/912/original/2021-01-22_05-48-25.png?1611262158" class="editor-image img-responsive" data-smartkarma-image-id="183912"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/183/913/original/2021-01-22_05-49-43.png?1611262202" class="editor-image img-responsive" data-smartkarma-image-id="183913"></figure></section><div class="content-caption">Source for all charts &amp; tables: Japan Analytics</div>

• BEST &amp; WORST •As we move towards the beginning of the disclosure season for the March/June/September/ December cohort of companies, several companies are revising their forecasts upwards. We also had five early-bird micro-cap Q3 reports. Our best and worst pairing from yesterday's announcements is Capcom (9697 JP) and Biofermin Pharmaceutical (4517 JP).Source for all charts &amp; tables: Japan Analytics

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​​​​​21 Capcom, Infomart, ISI-D

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

<p>The suggestion of government orchestration against <a href="https://www.smartkarma.com/entities/8979" target="_blank" data-smartkarma-citation="entities:8979:1">Ono</a>’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the Nikkei that the Japanese Health Ministry is considering setting rules on new drug usage during this fiscal year, starting with <a href="https://www.smartkarma.com/entities/8979" target="_blank" data-smartkarma-citation="entities:8979:1">Ono</a>’s Opdivo and <a href="https://www.smartkarma.com/entities/6091" target="_blank" data-smartkarma-citation="entities:6091">Astellas</a>’s Repatha. Patients may be limited to those who can see certain impact from the treatment, which in turn would mean the drug could only be prescribed at those institutions with the facilities to check…</p>

The suggestion of government orchestration against Ono’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the Nikkei that the Japanese Health Ministry is considering setting rules on new drug usage during this fiscal year, starting with Ono’s Opdivo and Astellas’s Repatha. Patients may be limited to those who can see certain impact from the treatment, which in turn would mean the drug could only be prescribed at those institutions with the facilities to check…

Opdivo Singled Out in Government Rule Change

Japan

BIOFERMIN PHARMACEUTICAL CO., LTD. manufactures pharmaceutical products and markets them through Takeda Chemical Industries in Japan and overseas markets.  The Company sells its brand products, Biofermin, which is lactate gastrointestinal reagents.  Biofermin also produces food stuffs, food additives, feed stuffs, and agrochemicals including fertilizer.

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Biofermin Pharmaceutical Co (4517 JP)

Biofermin (4517 JP) - Taisho (4581 JP): Merger Is a Done Deal

Taisho Pharma and subsidiary Biofermin (4517) have agreed to merge. The vote looks like a done deal. This is a short-dated rate of return trade.

Janaghan Jeyakumar, CFA

🇯🇵 JAPAN • Results & Revisions 01/21 Capcom, Infomart, ISI-D

As we move towards the beginning of the disclosure season for the March/June/September/ December cohort of companies, several companies are...

Campbell Gunn

Opdivo Singled Out in Government Rule Change

The suggestion of government orchestration against Ono’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the...

Pelham Smithers Associates

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52-week Range

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Biofermin (4517 JP) - Taisho (4581 JP): Merger Is a Done Deal

Taisho Pharma and subsidiary Biofermin (4517) have agreed to merge. The vote looks like a done deal. This is a short-dated rate of return trade.

Janaghan Jeyakumar, CFA

🇯🇵 JAPAN • Results & Revisions ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​01/​​​​​​​21 Capcom, Infomart, ISI-D

As we move towards the beginning of the disclosure season for the March/June/September/ December cohort of companies, several companies are...

Campbell Gunn

Opdivo Singled Out in Government Rule Change

The suggestion of government orchestration against Ono’s immunotherapy treatment Opdivo (nivolumab) has moved a stage further with a report in the...

Pelham Smithers Associates

🇯🇵 JAPAN • Results & Revisions 01/21 Capcom, Infomart, ISI-D