Focus on Smaller Cap Value Names, Altay Capital

Altay Capital

Focus on Smaller Cap Value Names

Long time value investor. Long/Short portfolio that’s always net long (between 30-80%). I have extensive experience in the video game industry as I founded a leading media company in the space, which I have since exited after an acquisition. Gaming companies only make up ~15% of my portfolio, but its a sector where I believe I have an edge. A newsletter about value investing! Mostly focus on smaller cap value names that aren't widely covered.

Equity Bottom-Up

<ul><li>Nissin Corp (TYO 9066) bought back 23.6% of their outstanding shares in a single day on May 10th and also doubled their dividend.</li><li>The result? The stock went up about 39% (up 72% YTD).</li><li>I already had a full sized position in Nissin Corp and despite being up big on it I added to my position at ¥4,265.</li></ul>

Nissin Corp (TYO 9066) bought back 23.6% of their outstanding shares in a single day on May 10th and also doubled their dividend.The result? The stock went up about 39% (up 72% YTD).I already had a full sized position in Nissin Corp and despite being up big on it I added to my position at ¥4,265.

Nissin Corp (9066) - A Dirt Cheap $400m JP Logistics Company...

Thematic (Sector/Industry)

<ul><li>Generated with AI While Japanese stocks have had a banner 2023 and are off to a good start in 2024, the opportunity in Japan remains compelling.</li><li>Especially in the dirt cheap small cap space.</li><li>You can still buy net-nets with 20 years of net income profitability for under 9x earnings , Nichia Steel (TYO 5658) remains a double net-net , and even non net-nets like Nissin (TYO 9066) which announced a big buyback (18% of outstanding shares) trade at 0.</li></ul>

Generated with AI While Japanese stocks have had a banner 2023 and are off to a good start in 2024, the opportunity in Japan remains compelling.Especially in the dirt cheap small cap space.You can still buy net-nets with 20 years of net income profitability for under 9x earnings , Nichia Steel (TYO 5658) remains a double net-net , and even non net-nets like Nissin (TYO 9066) which announced a big buyback (18% of outstanding shares) trade at 0.

Japan

NISSIN CORPORATION is a transport company.  The Company provides port-harbor, land, air transport services, and warehousing.  Nissin has operation bases overseas including the United States, China, Europe, and Russia.

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Nissin Corp (9066 JP)

Nissin Corp (9066) - A Dirt Cheap $400m JP Logistics Company...

Nissin Corp (TYO 9066) bought back 23.6% of their outstanding shares in a single day on May 10th and also doubled their dividend. The result? The...

Altay Capital

Japanese Reforms Slowly Kicking In

Generated with AI While Japanese stocks have had a banner 2023 and are off to a good start in 2024, the opportunity in Japan remains compelling.

Altay Capital

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