Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Nagoya-based medical tool and device maker <a href="https://www.smartkarma.com/entities/15915" target="_blank" data-smartkarma-citation="entities:15915:1">Asahi Intecc (7747 JP)</a> has been eligible to move from Nagoya and TSE Second Section to TSE First Section for some years, even before its explosive performance in that period. It seems that the company simply never got around to it. After better than 10-bagger performance since September 2012 and an 6-fold move in the last five years, on September 3rd, the company <a href="http://asahi.irbridge.com/ja/PressRelease/PressRelease-5866536224677474093/main/0/teaserItems1/0/linkList/0/link/20180903189.pdf" target="_blank">announced</a> (Japanese-only) an uridashi and small new share offering to cover the greenshoe where shareholders and the company sold ~5.25mm shares (about 4.5% of shares out and not quite 6% of float) worth ¥22.4bn. The main sellers were <a href="https://www.smartkarma.com/entities/10493" target="_blank" data-smartkarma-citation="entities:10493:1">Hogy Medical (3593 JP)</a> which sold 1 million shares and  management and their affiliated companies who sold more. At the same time on the 3rd of September, the company announced (<a href="http://asahi.irbridge.com/ja/PressRelease/PressRelease5861647384964375868/main/0/teaserItems1/0/linkList/0/link/20180903188.pdf" target="_blank">Japanese</a>, <a href="http://asahi.irbridge.com/en/PressRelease/PressRelease4688343577762351291/main/0/teaserItems1/0/linkList/0/link/20180903188E.pdf" target="_blank">English</a>) a move from TSE2 and NSE2 to TSE First Section as of 21 September. TSE1 reassignment triggers inclusion into the TOPIX Index. Based on the TOPIX Index Methodology (p7 of the <a href="http://www.jpx.co.jp/english/markets/indices/line-up/files/e_cal_16_Divf.pdf" target="_blank">TOPIX Index Guidebook</a>), inclusion will be on the last business day on the month following entrance into the First Section. This means the inclusion event will be at the close of trading October 30, 2018. TOPIX Inclusion analysis below.

Nagoya-based medical tool and device maker Asahi Intecc (7747 JP) has been eligible to move from Nagoya and TSE Second Section to TSE First Section for some years, even before its explosive performance in that period. It seems that the company simply never got around to it. After better than 10-bagger performance since September 2012 and an 6-fold move in the last five years, on September 3rd, the company announced (Japanese-only) an uridashi and small new share offering to cover the greenshoe where shareholders and the company sold ~5.25mm shares (about 4.5% of shares out and not quite 6% of float) worth ¥22.4bn. The main sellers were Hogy Medical (3593 JP) which sold 1 million shares and  management and their affiliated companies who sold more. At the same time on the 3rd of September, the company announced (Japanese, English) a move from TSE2 and NSE2 to TSE First Section as of 21 September. TSE1 reassignment triggers inclusion into the TOPIX Index. Based on the TOPIX Index Methodology (p7 of the TOPIX Index Guidebook), inclusion will be on the last business day on the month following entrance into the First Section. This means the inclusion event will be at the close of trading October 30, 2018. TOPIX Inclusion analysis below.

Asahi Intecc (7747 JP) TSE1 (Finally) And a BIG TOPIX Inclusion

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

Thematic (Sector/Industry)

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…

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

HOGY MEDICAL CO., LTD. manufactures and sells medical supply and related products including sterilized tools and disposable injectors and masks used by surgeons.

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Hogy Medical (3593 JP)

Asahi Intecc (7747 JP) TSE1 (Finally) And a BIG TOPIX Inclusion

Nagoya-based medical tool and device maker Asahi Intecc (7747 JP) has been eligible to move from Nagoya and TSE Second Section to TSE First...

Travis Lundy

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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