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>In the last two months, <a href="https://www.smartkarma.com/entities/amvis-holdings-inc" target="_blank" data-smartkarma-citation="entities:31511:1" rel="noopener">Amvis Holdings Inc (7071 JP)</a>, <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a>, and <a href="https://www.smartkarma.com/entities/sosei-group-corp" target="_blank" data-smartkarma-citation="entities:770:1" rel="noopener">Sosei Group (4565 JP)</a> have confirmed their moves to the Prime Market.</li>
<li>These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.</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.
In the last two months, Amvis Holdings Inc (7071 JP), AXXZIA Inc (4936 JP), and Sosei Group (4565 JP) have confirmed their moves to the Prime Market.
These names appeared in our lists (A or B) of candidates with high "readiness" for TOPIX Inclusions in our recent insights.


TOPIX Inclusions: Who Is Ready (Apr 2023)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rakuten-bank-ltd" target="_blank" data-smartkarma-citation="entities:35638:1" rel="noopener">Rakuten Bank (5838 JP)</a>, the online banking arm of <a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a>, aims to raise up to around US$900m in its Japan listing in April 2023.</li>
<li>RB is the largest internet bank in Japan, by number of accounts. As of Dec 22, it had 13.3m deposit accounts with a total deposit base of JPY8.8tn.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we will undertake a peer comparison.</li>
</ul>



Rakuten Bank (5838 JP), the online banking arm of Rakuten (4755 JP), aims to raise up to around US$900m in its Japan listing in April 2023.
RB is the largest internet bank in Japan, by number of accounts. As of Dec 22, it had 13.3m deposit accounts with a total deposit base of JPY8.8tn.
In our earlier notes, we have looked at the company’s past performance. In this note, we will undertake a peer comparison.


Rakuten Bank IPO - Peer Comparison - SBI Sumishin or Kakaobank?

<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>In February, names which appeared in our "B" list such as <a href="https://www.smartkarma.com/entities/amvis-holdings-inc" target="_blank" data-smartkarma-citation="entities:31511:1" rel="noopener">Amvis Holdings Inc (7071 JP)</a> and <a href="https://www.smartkarma.com/entities/axxzia-inc" target="_blank" data-smartkarma-citation="entities:31482:1" rel="noopener">AXXZIA Inc (4936 JP)</a> announced they would be moving to the Prime Market.</li>
<li>In this insight, we take a look at updated lists, the price performance history of those baskets, and other interesting trades in the TOPIX index space.</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.
In February, names which appeared in our "B" list such as Amvis Holdings Inc (7071 JP) and AXXZIA Inc (4936 JP) announced they would be moving to the Prime Market.
In this insight, we take a look at updated lists, the price performance history of those baskets, and other interesting trades in the TOPIX index space.


TOPIX Inclusions: Who Is Ready (Mar 2023)

<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>This insight is a follow-up to <a href="https://www.smartkarma.com/insights/topix-inclusions-who-is-ready-jan-2023" target="_blank" data-smartkarma-citation="insights:86980" rel="noopener">TOPIX Inclusions: Who Is Ready (Jan 2023)</a> </li>
<li>Our top pick from the last insight <a href="https://www.smartkarma.com/entities/celsys-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">CELSYS (3663 JP)</a> (previously known as Artspark) has gained ~14% in roughly a month.</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.
This insight is a follow-up to TOPIX Inclusions: Who Is Ready (Jan 2023) 
Our top pick from the last insight CELSYS (3663 JP) (previously known as Artspark) has gained ~14% in roughly a month.


TOPIX Inclusions: Who Is Ready (Feb 2023)

<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>This insight is a follow-up to <a href="https://www.smartkarma.com/insights/topix-inclusions-who-is-ready-dec-2022" target="_blank" data-smartkarma-citation="insights:85784" rel="noopener">TOPIX Inclusions: Who Is Ready (Dec 2022)</a>. </li>
<li>Our latest top pick for TOPIX Inclusion pre-events is <a href="https://www.smartkarma.com/entities/artspark-holdings-inc" target="_blank" data-smartkarma-citation="entities:20774:1" rel="noopener">Artspark Holdings (3663 JP)</a>. </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.
This insight is a follow-up to TOPIX Inclusions: Who Is Ready (Dec 2022). 
Our latest top pick for TOPIX Inclusion pre-events is Artspark Holdings (3663 JP). 


TOPIX Inclusions: Who Is Ready (Jan 2023)

Japan

McDonald's Holdings Company (Japan), Ltd. operates a hamburger fast food restaurant chain throughout Japan.  The Company operates its own stores and franchise stores.

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Mcdonald's Japan (2702 JP)

TOPIX Inclusions: Who Is Ready (Apr 2023)

Amvis and Sosei will have TOPIX Inclusion events at the end of April 2023. Celsys has gained slightly and is close to being fully ready. There is...

Janaghan Jeyakumar, CFA

Rakuten Bank IPO - Peer Comparison - SBI Sumishin or Kakaobank?

Rakuten Bank (5838 JP), the online banking arm of Rakuten (4755 JP), aims to raise up to around US$900m in its Japan listing in April 2023. In this...

Sumeet Singh

TOPIX Inclusions: Who Is Ready (Mar 2023)

The recent price decline of pre-event candidate CELSYS could be seen as a new buying opportunity. Amvis and Axxzia will have their TOPIX Inclusion...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Feb 2023)

The ArtSpark (CELYSYS) pre-event situation, the Axxzia TOPIX Inclusion, and our early preview of the Big April Basket 2023 are currently the most...

Janaghan Jeyakumar, CFA

TOPIX Inclusions: Who Is Ready (Jan 2023)

Out of the 1,600+ TSE-listed names that are not part of the Prime market, around 100+ can satisfy most of the key conditions for a prime market...

Janaghan Jeyakumar, CFA

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