Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>This past week, nearly 150 companies in Japan announced buyback programmes totalling ¥2.1trln. 3 Tenders, 26 ToSTNeT-3 buybacks (including at least 5 delayed starts). </li>
<li>The median on-market buyback was 2.40% of shares, the average 2.9% (both measured as practical maxima at announcement. Median/Average % of ADV was 7.6/9.2%. </li>
<li>My prediction that this will be a record year for stock buybacks still stands.</li>
</ul>


This past week, nearly 150 companies in Japan announced buyback programmes totalling ¥2.1trln. 3 Tenders, 26 ToSTNeT-3 buybacks (including at least 5 delayed starts). 
The median on-market buyback was 2.40% of shares, the average 2.9% (both measured as practical maxima at announcement. Median/Average % of ADV was 7.6/9.2%. 
My prediction that this will be a record year for stock buybacks still stands.


Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

We know that historically there has been a lot of leakage leading into Earnings Season. In a different life, I remember Fuji Photo calling me in and given me a preview of the earnings results 2 weeks before the actual announcement. It may not happen as much now in the large-cap space, so we took a look at the small-cap space with very little coverage to see if there are movements in consensus.

We know that historically there has been a lot of leakage leading into Earnings Season. In a different life, I remember Fuji Photo calling me in and given me a preview of the earnings results 2 weeks before the actual announcement. It may not happen as much now in the large-cap space, so we took a look at the small-cap space with very little coverage to see if there are movements in consensus.

Japanese Small-Cap Names with Consensus Changes Leading into Earning Season....

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major support level we identified as support, and the MSCI ACWI ETF has broken below its 200-day MA, leading us to believe additional consolidation is likely.

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major support level we identified as support, and the MSCI ACWI ETF has broken below its 200-day MA, leading us to believe additional consolidation is likely. 

EM and ACWI Showing Decisive Breakdowns - Metals & Miners Still Attractive

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we only screen for names where the % of BUY recommendations to Total is less than 20%. However, 126 names made that list. We therefore further limited the screen by adding % of SELL recommendations greater than 30% of total recommendations. 26 names met both criteria. At the top of the list is <a href="https://www.smartkarma.com/entities/391" target="_blank" data-smartkarma-citation="entities:391:1">Sharp Corp (6753 JP)</a> with 0 BUY recommendations and 8 SELL…

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we only screen for names where the % of BUY recommendations to Total is less than 20%. However, 126 names made that list. We therefore further limited the screen by adding % of SELL recommendations greater than 30% of total recommendations. 26 names met both criteria. At the top of the list is Sharp Corp (6753 JP) with 0 BUY recommendations and 8 SELL…

Names that Are Hated and Loved by the Street in Japan....

Japan

SANKYU INC. provides truckload, logistics, freight rail transportation, freight air transportation, marine cargo transportation, cargo handling, and warehousing services around the world.  The Company designs, manufactures, builds, maintains, and transports blast furnaces and other plants.  Sankyu constructs a wide range of facilities and buildings and provides land development services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sankyu Inc (9065 JP)

JAPAN BUYBACKS: A Very Big Week

Almost ¥2.2trln of buybacks were announced this past week. Several large ones but 120+ different companies in total. This is the push higher for a...

Travis Lundy

Japanese Small-Cap Names with Consensus Changes Leading into Earning Season....

We know that historically there has been a lot of leakage leading into Earnings Season. In a different life, I remember Fuji Photo calling me in...

Custom Products Group

EM and ACWI Showing Decisive Breakdowns - Metals & Miners Still Attractive

Global markets have deteriorated considerably over the past couple weeks. The MSCI EM index has decisively broken down below the 60,000 major...

Vermilion Research

Names that Are Hated and Loved by the Street in Japan....

It has been a while since we updated the "Hated by the Street" screen. So we thought it would be good to see which names made the list. Usually we...

Custom Products Group

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)