Research Coverage of Japanese Listed Companies, Shared Research Inc

Shared Research

Research Coverage of Japanese Listed Companies

Shared Research Inc

Pioneering research coverage of Japanese listed companies. Now customizable and interactive for global institutional investors. Corporate access reimagined.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jafco-co-ltd" target="_blank" data-smartkarma-citation="entities:8848:1" rel="noopener">Jafco Co Ltd (8595 JP)</a> is the largest specialist venture capital company in Japan.</li>
<li>In FY03/23, JAFCO reported revenue of JPY14.1bn, an operating loss of JPY4.4bn, a recurring loss of JPY3.0bn, and net income of JPY40.6bn.</li>
<li>JAFCO Group Co., Ltd. has announced a partnership with Nomura Asset Management Co., Ltd. to create a new publicly offered investment trust incorporating unlisted shares.</li>
</ul>



Jafco Co Ltd (8595 JP) is the largest specialist venture capital company in Japan.
In FY03/23, JAFCO reported revenue of JPY14.1bn, an operating loss of JPY4.4bn, a recurring loss of JPY3.0bn, and net income of JPY40.6bn.
JAFCO Group Co., Ltd. has announced a partnership with Nomura Asset Management Co., Ltd. to create a new publicly offered investment trust incorporating unlisted shares.


Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Japan Petroleum Exploration / Event-Driven

<ul>
<li>Japanese companies are buying back more stock than ever before, and recent moves by the TSE and METI are effectively pushing for more.</li>
<li>The new goal is to lift PBR and ROE. The easiest way to lift ROE is reduce E. Low-PBR Cos with excess assets and cross-holdings (outbound and inbound) are targets.</li>
<li>In this insight I look at several possible rankings for potential large buyback targets.</li>
</ul>


Japanese companies are buying back more stock than ever before, and recent moves by the TSE and METI are effectively pushing for more.
The new goal is to lift PBR and ROE. The easiest way to lift ROE is reduce E. Low-PBR Cos with excess assets and cross-holdings (outbound and inbound) are targets.
In this insight I look at several possible rankings for potential large buyback targets.


JAPAN GOVERNANCE CHANGES II - Who Could Surprise on Buybacks? Quant Rankings

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Act II  of the drama begins  and continues from where it left off in early August</li>
<li>Sentiment has changed - bad news really  is  bad news</li>
<li>With &gt;100 basis points of cuts already priced in before year end...</li>
</ul>


Act II  of the drama begins  and continues from where it left off in early August
Sentiment has changed - bad news really  is  bad news
With &gt;100 basis points of cuts already priced in before year end...


Tactical Trading – Time to Sell Japan Again

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsui-matsushima-co-ltd" target="_blank" data-smartkarma-citation="entities:13569:1" rel="noopener">Mitsui Matsushima (1518 JP)</a> was a coal company starting over 100yrs ago. A bunch of years ago it started a solar energy business and then started M&amp;A to diversify.</li>
<li>Coal closed last year and since, MMH has become an investment holdco for "basic businesses" (drinking straws, conveyor system chains, document shredders, weighing machines, crystal measuring devices, mask blanks, etc).</li>
<li>Murakami Group accumulated 4.98% in five weeks, then the next 14.9% in five days. Pump &amp; Dump like Pacific Metals? Activism like JAFCO? Or something else more interesting?</li>
</ul>



Mitsui Matsushima (1518 JP) was a coal company starting over 100yrs ago. A bunch of years ago it started a solar energy business and then started M&amp;A to diversify.
Coal closed last year and since, MMH has become an investment holdco for "basic businesses" (drinking straws, conveyor system chains, document shredders, weighing machines, crystal measuring devices, mask blanks, etc).
Murakami Group accumulated 4.98% in five weeks, then the next 14.9% in five days. Pump &amp; Dump like Pacific Metals? Activism like JAFCO? Or something else more interesting?


JAPAN ACTIVISM: Murakami-Related Buyers Go from 5% to 20% of Mitsui Matsushima (1518) In 5 Days. Hmm

<ul>
<li>Yesterday after the close, well-known Japanese activist Murakami-san's preferred entity City Index Eleventh filed a Large Shareholder Report. </li>
<li>The blast across Bloomberg was "<strong>*AOZORA 5.4% STAKE REPORTED BY CITY INDEX ELEVENTH.</strong>" Sounds exciting after the shares dropped 34% in two days earlier this month after reporting big writedowns. </li>
<li>But there has to be a question here. Why? And Why this way? And what kind of activism would be possible? </li>
</ul>


Yesterday after the close, well-known Japanese activist Murakami-san's preferred entity City Index Eleventh filed a Large Shareholder Report. 
The blast across Bloomberg was "*AOZORA 5.4% STAKE REPORTED BY CITY INDEX ELEVENTH." Sounds exciting after the shares dropped 34% in two days earlier this month after reporting big writedowns. 
But there has to be a question here. Why? And Why this way? And what kind of activism would be possible? 


JAPAN ACTIVISM:  Is Murakami-San Going To Do A PacMetals Rug Pull on Aozora? Or Is This For Real?

Japan

JAFCO Co., Ltd. forms venture capital groups to invest primarily in domestic and foreign private companies with high potential for future growth.  The Company also provides management services to the groups, makes loans and offers consultation services to the invested companies.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Jafco Co Ltd (8595 JP)

JAFCO Group (8595): Q3 FY03/24 Update

Japan's largest venture capital company, Jafco Co Ltd, reported financials for FY03/23 and announced a partnership with Nomura Asset Management to...

Shared Research

JAPAN GOVERNANCE CHANGES II - Who Could Surprise on Buybacks? Quant Rankings

JAPAN GOVERNANCE: There is a buyback story coming. It will be big. Bigger than the past year or two, and it will continue. What to buy?

Travis Lundy

Tactical Trading – Time to Sell Japan Again

Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.

Rikki Malik

JAPAN ACTIVISM: Is Murakami-San Going To Do A PacMetals Rug Pull on Aozora? Or Is This For Real?

Murakami-san's daughter bought 5.4% of Aozora Bank. It could be activism or it could be another pump'n'dump like Pacific Metals. It is tough to...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JAFCO Group (8595): Q3 FY03/24 Update

​Japan's largest venture capital company, Jafco Co Ltd, reported financials for FY03/23 and announced a partnership with Nomura Asset Management to...

Shared Research

JAPAN GOVERNANCE CHANGES II - Who Could Surprise on Buybacks? Quant Rankings

JAPAN GOVERNANCE: There is a buyback story coming. It will be big. Bigger than the past year or two, and it will continue. What to buy?

Travis Lundy

Tactical Trading – Time to Sell Japan Again

​Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.

Rikki Malik

JAPAN ACTIVISM: Murakami-Related Buyers Go from 5% to 20% of Mitsui Matsushima (1518) In 5 Days. Hmm

Murakami-san's "grouping" crept to 4.98% in holdco Mitsui Matsushima over 5wks, then launched to 20% in 5 days. The stock is up big. Actual exit...

Travis Lundy

JAPAN ACTIVISM: Is Murakami-San Going To Do A PacMetals Rug Pull on Aozora? Or Is This For Real?

Murakami-san's daughter bought 5.4% of Aozora Bank. It could be activism or it could be another pump'n'dump like Pacific Metals. It is tough to...

Travis Lundy

Japan's largest venture capital company, Jafco Co Ltd, reported financials for FY03/23 and announced a partnership with Nomura Asset Management to...

Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.