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>Since my last insight, three new TOPIX Inclusion events have been confirmed: <a href="https://www.smartkarma.com/entities/m-a-research-institute-inc" target="_blank" data-smartkarma-citation="entities:36749:1" rel="noopener">M&amp;A Research Institute (9552 JP)</a>, <a href="https://www.smartkarma.com/entities/fp-partner-inc" target="_blank" data-smartkarma-citation="entities:40040:1" rel="noopener">FP Partner (7388 JP)</a>, and <a href="https://www.smartkarma.com/entities/i-ne-co-ltd" target="_blank" data-smartkarma-citation="entities:40117:1" rel="noopener">I-NE (4933 JP)</a> </li>
<li>Separately, <a href="https://www.smartkarma.com/entities/core-concept-technologies-inc" target="_blank" data-smartkarma-citation="entities:34323:1" rel="noopener">Core Concept Technologies Inc (4371 JP)</a> has announced it intends to work towards a Prime Market move in the future.</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.
Since my last insight, three new TOPIX Inclusion events have been confirmed: M&amp;A Research Institute (9552 JP), FP Partner (7388 JP), and I-NE (4933 JP) 
Separately, Core Concept Technologies Inc (4371 JP) has announced it intends to work towards a Prime Market move in the future.


TOPIX Inclusions: Who Is Ready (Sep 2023)

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Equity Capital Markets

<ul>
<li>On 22 August, TSE Growth-listed insurance agent  <a href="https://www.smartkarma.com/entities/fp-partner-inc" target="_blank" data-smartkarma-citation="entities:40040:1" rel="noopener">FP Partner (7388 JP)</a> announced a special dividend, a secondary offering of 1.4mm shares, and a move to TSE Prime.</li>
<li>The equity offering is designed to raise tradable share percentage to meet the TSE Prime listing requirement. The move to Prime on 11 September means a TOPIX inclusion end October. </li>
<li>The pattern of "Offering To Get Float to Get TOPIX Inclusion" is well-trod. This one has some interesting dynamics.</li>
</ul>


On 22 August, TSE Growth-listed insurance agent  FP Partner (7388 JP) announced a special dividend, a secondary offering of 1.4mm shares, and a move to TSE Prime.
The equity offering is designed to raise tradable share percentage to meet the TSE Prime listing requirement. The move to Prime on 11 September means a TOPIX inclusion end October. 
The pattern of "Offering To Get Float to Get TOPIX Inclusion" is well-trod. This one has some interesting dynamics.


FP Partner (7388 JP) Offering-To-Get-Float-To-Get-TOPIX-Inclusion

Japan

FP Partner Inc. offers financial services. The Company provides financial planning, insurance marketing and consulting, insurance agency, and other services. FP Partner also offers consultation site operation.

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FP Partner (7388 JP)

TOPIX Inclusions: Who Is Ready (Sep 2023)

The Offer Price for I-NE (4933 JP)'s secondary sale of shares was decided today. Our estimates show the Offer Quantity could exceed the demand from...

Janaghan Jeyakumar, CFA

FP Partner (7388 JP) Offering-To-Get-Float-To-Get-TOPIX-Inclusion

FP Partners is doing an Offering, then a TSE Prime move and TOPIX Inclusion. Often, this pattern is not great. This one is a little different.

Travis Lundy

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