Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Noted Japanese activist MURAKAMI Yoshiaki and his entities and relations went from 4.98% to 19.88% of <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> at an average ¥3,500/share from 2 May through 10 May.</li>
<li>Then they bought an additional 5.44% on 13 May, just before earnings, in the midst of a huge run-up, paying 40% more for that 5% than the first 5%. </li>
<li>I thought that might be the end, but in two days, they have bought an additional 9+%. There is something else going on. It is worthy of your attention. </li>
</ul>


Noted Japanese activist MURAKAMI Yoshiaki and his entities and relations went from 4.98% to 19.88% of Mitsui Matsushima (1518 JP) at an average ¥3,500/share from 2 May through 10 May.
Then they bought an additional 5.44% on 13 May, just before earnings, in the midst of a huge run-up, paying 40% more for that 5% than the first 5%. 
I thought that might be the end, but in two days, they have bought an additional 9+%. There is something else going on. It is worthy of your attention. 


JAPAN ACTIVISM:  Murakami Now 29% of Mitsui Matsushima. Activism? Or Effort to Make Murakami Listco

<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>On Friday 13 September, the Ministry of Finance of Japan released revisions to the list (<a href="https://www.mof.go.jp/policy/international_policy/gaitame_kawase/press_release/20240913.html" target="_blank" rel="noopener">Japanese</a>, <a href="https://www.mof.go.jp/english/policy/international_policy/fdi/Related_Guidance_and_Documents/20240913.html" target="_blank" rel="noopener">English</a>) of company classifications under the Foreign Exchange and Foreign Trade Act (FEFTA)</li>
<li>It appears 72 names were newly upgraded to "Core" ("3"), 21 newly listed companies (since the last list in Nov 2021) were labeled "3", and six lost their Type3 designation. </li>
<li>
<a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> saw breathless news articles Friday suggesting a foreign takeover became more difficult. Not really. </li>
</ul>


On Friday 13 September, the Ministry of Finance of Japan released revisions to the list (Japanese, English) of company classifications under the Foreign Exchange and Foreign Trade Act (FEFTA)
It appears 72 names were newly upgraded to "Core" ("3"), 21 newly listed companies (since the last list in Nov 2021) were labeled "3", and six lost their Type3 designation. 

Seven &amp; I Holdings (3382 JP) saw breathless news articles Friday suggesting a foreign takeover became more difficult. Not really. 


The New FEFTA List (With 7&I (3382) As "Core") Is Not a Big Hurdle for Couche-Tard

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>Murakami's entities, City Index Eleventh and Aya Nomura, reported a 5.06% position in <a href="https://www.smartkarma.com/entities/iriso-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:2801:1" rel="noopener">Iriso Electronics (6908 JP)</a>. The purchases were from 25 July to 13 August.</li>
<li>Murakami's average buy-in price over the last 60 days was JPY2,378.90 per share, a 7.8% discount to the last close price.</li>
<li>Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as Iriso is cash-rich with a P/B less than 1x.</li>
</ul>


Murakami's entities, City Index Eleventh and Aya Nomura, reported a 5.06% position in Iriso Electronics (6908 JP). The purchases were from 25 July to 13 August.
Murakami's average buy-in price over the last 60 days was JPY2,378.90 per share, a 7.8% discount to the last close price.
Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as Iriso is cash-rich with a P/B less than 1x.


Iriso Electronics (6908 JP): Murakami Becomes a Substantial Shareholder

<ul>
<li>Murakami's entities, City Index Eleventh and City Index Third, reported a 5.05% position in <a href="https://www.smartkarma.com/entities/piolax-inc" target="_blank" data-smartkarma-citation="entities:7637:1" rel="noopener">Piolax Inc (5988 JP)</a>. The purchases were from 11 June to 6 August over 60 days.</li>
<li>Murakami's average buy-in price over the last 60 days was JPY2,286.61 per share, a 0.7% discount to the last close price.</li>
<li>Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as Piolax is cash-rich with a P/B less than 1x.</li>
</ul>


Murakami's entities, City Index Eleventh and City Index Third, reported a 5.05% position in Piolax Inc (5988 JP). The purchases were from 11 June to 6 August over 60 days.
Murakami's average buy-in price over the last 60 days was JPY2,286.61 per share, a 0.7% discount to the last close price.
Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as Piolax is cash-rich with a P/B less than 1x.


Piolax (5988 JP): Murakami Becomes a Substantial Shareholder

Japan

Mitsui Matsushima Co., Ltd. sells coal primarily in the Kyushu region.  The Company also produces construction machinery, cement, and building materials. Mitsui Matsushima operates supermarkets and real estate business as well.

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Mitsui Matsushima (1518 JP)

JAPAN ACTIVISM: Murakami Now 29% of Mitsui Matsushima. Activism? Or Effort to Make Murakami Listco

2 days ago I wrote up the situation with a low-conviction bearish tilt. Since then, Murakami-san has reported a 9% increased stake. No more pump...

Travis Lundy

The New FEFTA List (With 7&I (3382) As "Core") Is Not a Big Hurdle for Couche-Tard

The Japan Ministry of Finance made an updated FEFTA classification list on Friday. 7 and i got "upgraded" to Type 3 as Core. That doesn't change...

Travis Lundy

Iriso Electronics (6908 JP): Murakami Becomes a Substantial Shareholder

Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as...

Arun George

Piolax (5988 JP): Murakami Becomes a Substantial Shareholder

Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as...

Arun George

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52-week Range

Market Cap (USDm)

P/E

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JAPAN ACTIVISM: Murakami Now 29% of Mitsui Matsushima. Activism? Or Effort to Make Murakami Listco

2 days ago I wrote up the situation with a low-conviction bearish tilt. Since then, Murakami-san has reported a 9% increased stake. No more pump...

Travis Lundy

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

The New FEFTA List (With 7&I (3382) As "Core") Is Not a Big Hurdle for Couche-Tard

The Japan Ministry of Finance made an updated FEFTA classification list on Friday. 7 and i got "upgraded" to Type 3 as Core. That doesn't change...

Travis Lundy

Iriso Electronics (6908 JP): Murakami Becomes a Substantial Shareholder

Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as...

Arun George

Piolax (5988 JP): Murakami Becomes a Substantial Shareholder

Murakami's disclosure suggests two possibilities: the start of an activist campaign or a short-term pump-and-dump play. The former is likely as...

Arun George