Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsui-co-ltd" target="_blank" data-smartkarma-citation="entities:20799:1" rel="noopener">Mitsui &amp; Co Ltd (8031 JP)</a> reported Q3 earnings Friday afternoon during the market session. Like at Q2, they upped their fiscal-year forecast to well above Street consensus.</li>
<li>Also like Q2, they announced a buyback - this one an extension in time, shares, and money on the one already in place, raising the total Core CashFlow Payout Ratio.</li>
<li>This creates interesting index flows over the next several months, and other trading cos have live buybacks too.</li>
</ul>



Mitsui &amp; Co Ltd (8031 JP) reported Q3 earnings Friday afternoon during the market session. Like at Q2, they upped their fiscal-year forecast to well above Street consensus.
Also like Q2, they announced a buyback - this one an extension in time, shares, and money on the one already in place, raising the total Core CashFlow Payout Ratio.
This creates interesting index flows over the next several months, and other trading cos have live buybacks too.


Mitsui & Co (8031) Q3 - Big Profit, New Bigger Buyback, Some Index Selling; and Competition

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS:  US MLK Holidays - World markets directionless;  US Equity Futs flat; European Markets bid on Inflation peak;  BOJ decision to lead markets this week.</li>
<li>JAPAN:  NKY Futures +0.2% vs Cash ; USDJPY flat at 128.52 ; BOJ speculation dominates local headlines;  Kuroda heads to Davos = no fireworks? ;  Dec Machine Tools orders +1%YoY</li>
<li>DAILY NUGGET:  Fast Retailing and Sustainability: Set to introduce a new repair service in its domestic stores.</li>
</ul>


OVERSEAS:  US MLK Holidays - World markets directionless;  US Equity Futs flat; European Markets bid on Inflation peak;  BOJ decision to lead markets this week.
JAPAN:  NKY Futures +0.2% vs Cash ; USDJPY flat at 128.52 ; BOJ speculation dominates local headlines;  Kuroda heads to Davos = no fireworks? ;  Dec Machine Tools orders +1%YoY
DAILY NUGGET:  Fast Retailing and Sustainability: Set to introduce a new repair service in its domestic stores.


Good Morning Japan |US Off = Directionless; BOJ in Focus +2trn JGB Buying; Kuroda off to Davos

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Equity Bottom-Up

<ul>
<li>Lawson introduced a new store format in Tokyo last month called Green Lawson, touting new ways to save energy and reduce waste. </li>
<li>The new store also features an early version of a retail advertising system that emulates Familymart Vision.</li>
<li>The latest updates emphasise the continued investment by the big three convenience stores to remain relevant and improve sales efficiency while also countering the labour shortage.</li>
</ul>


Lawson introduced a new store format in Tokyo last month called Green Lawson, touting new ways to save energy and reduce waste. 
The new store also features an early version of a retail advertising system that emulates Familymart Vision.
The latest updates emphasise the continued investment by the big three convenience stores to remain relevant and improve sales efficiency while also countering the labour shortage.


Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Taiwan Semiconductor (TSMC) - ADR / Event-Driven

<ul>
<li>This insight will discuss the impact of Buffett's investment in Taiwan Semiconductor (TSMC) - ADR (TSM US) on Samsung Electronics (005930 KS) and SK Hynix (000660 KS).</li>
<li>We believe that Buffett's sizeable investment in TSMC is likely to have a positive impact on Samsung Electronics and SK Hynix.</li>
<li>This would be similar to how Buffett's investment in the Japanese trading companies which has had a positive impact on the major Korean trading companies. </li>
</ul>


This insight will discuss the impact of Buffett's investment in Taiwan Semiconductor (TSMC) - ADR (TSM US) on Samsung Electronics (005930 KS) and SK Hynix (000660 KS).
We believe that Buffett's sizeable investment in TSMC is likely to have a positive impact on Samsung Electronics and SK Hynix.
This would be similar to how Buffett's investment in the Japanese trading companies which has had a positive impact on the major Korean trading companies. 


Buffett's Investment in TSMC - Impact on Samsung Electronics and SK Hynix

David Blennerhassett

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a></strong> has proposed in-specie-ing its holding in <strong><a href="https://www.smartkarma.com/entities/golden-energy-mines-tbk-pt" target="_blank" data-smartkarma-citation="entities:16150:1" rel="noopener">Golden Energy Mines (GEMS IJ)</a></strong>, subsequent to which the Widjaja family will undertake an Exit Offer.</li>
<li>Ex-GEMS, the family is Offering S$0.16/share. That's insulting. And the Offer was announced after GEAR's share price had fallen 26%.  The Exit Offer has been declared final.</li>
<li>GEAR's jewel is the stake in GEMS, and shareholders are afforded future exposure. However, the stub ops are worth considerably more than S$0.16/share. </li>
</ul>



Golden Energy &amp; Resources (GER SP) has proposed in-specie-ing its holding in Golden Energy Mines (GEMS IJ), subsequent to which the Widjaja family will undertake an Exit Offer.
Ex-GEMS, the family is Offering S$0.16/share. That's insulting. And the Offer was announced after GEAR's share price had fallen 26%.  The Exit Offer has been declared final.
GEAR's jewel is the stake in GEMS, and shareholders are afforded future exposure. However, the stub ops are worth considerably more than S$0.16/share. 


Golden Energy (GER SP): Widjaja Family's Low-Balled Offer

Japan

Mitsubishi Corporation is a general trading company.  The Company has business groups such as New Business Initiatives, IT & Electronics, Fuels, Metals, Machinery, Chemicals, Living Essentials, and Professional Services.  Mitsubishi diversifies by satellite communications through a joint venture.

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Mitsubishi Corp (8058 JP)

Mitsui & Co (8031) Q3 - Big Profit, New Bigger Buyback, Some Index Selling; and Competition

Mitsui had a great Q3, forecasting an even better Q4. It announced a new Buyback to pay out 100% of incremental Net Profit, 142% of incremental...

Travis Lundy

Good Morning Japan |US Off = Directionless; BOJ in Focus +2trn JGB Buying; Kuroda off to Davos

NKY Futures +0.2% vs Cash ; USDJPY flat; BOJ speculation dominates as Kuroda heads to Davos ; Dec Machine Tools +1%YoY. Global stealth rally...

Mark Chadwick

Green Lawson: More Eco and Avatars

Lawson's latest ideas show the convenience store sector is not standing still but finding new ways to drive up same-store sales in the face of...

Michael Causton

Buffett's Investment in TSMC - Impact on Samsung Electronics and SK Hynix

This insight will discuss the impact of Buffett's investment in Taiwan Semiconductor (TSMC) - ADR (TSM US) on Samsung Electronics (005930 KS) and...

Douglas Kim

Golden Energy (GER SP): Widjaja Family's Low-Balled Offer

Trading at gross spread of 5.1% to the cash terms. I'd still look to enter around here. If, or should, coal prices roll over, you have a hard cash...

David Blennerhassett

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