Structural Reform III: Evidence of Bad Luck over Poor Policy
Room for small hope amid bleak Japanese policy reform recordUntil now, our analysis of Japanese structural reform, centred upon raising Japanese...
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Structural Reform I: The Japanese Financial Sector
In Why Overcoming Deflation Is Not Enough Part III: Corporate Governance, we argued that corporate governance is pivotal to successful structural...
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Doosan Infracore - SoTP Sensitivity Analysis Reveals Further Downside Risk
Based on our Sum-of-the-parts (SoTP) valuation analysis of Doosan Infracore Co Ltd (042670 KS), we believe there is a significant downside...
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ANIMAL SPIRITS™ REPORT: Japan Equity Market Outlook - Escaping The Value Trap
Investment Conclusions We are currently "neutral" in our view on Japan in global developed market portfolios but "underweight" in our APAC...
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Doosan Bobcat IPO (Part 1) - Beware of High Valuation & A Cyclical Downturn
This is Part I of our in-depth analysis of Doosan Bobcat IPO. Our Part I report has three major sections, including a) comparable companies...
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