In today’s briefing:
- Shibaura Mechatronics (6590) Secondary Offering & Buyback
- M&A Research Institute Holdings (9552) TOPIX Inclusion
- INITIATION – Takachiho Koheki (2676JP)
Shibaura Mechatronics (6590) Secondary Offering & Buyback
- Five plus years ago, Toshiba Corp (6502 JP) sold down a 26% stake in small cap Shibaura Mechatronics (6590 JP) to get to a consolidated 13%-ish stake.
- This was discussed in Toshiba Selldown of Shibaura Mechatronics (6590) back then. Yesterday, we got news Toshiba would sell out its remaining stake. And there’s a buyback. Maybe.
- The stock has reacted badly on Day 1, despite a lack of dilution. Shareholder structure matters.
M&A Research Institute Holdings (9552) TOPIX Inclusion
- Yesterday, M&A Research Institute (9552 JP) announced it would list on the TSE Prime section on 29 August, which means it will join TOPIX at the close of 28-Sep-2023.
- This is NOT a surprise. On 27 June, the company announced a secondary offering of 1.631mm shares (by the founder/CEO), and said it had applied for TSE Prime transfer.
- I take a look at how this could play out.
INITIATION – Takachiho Koheki (2676JP)
- Technology trading company providing everything from electronics products to IT solutions
- Takachiho Koheki is a trading company highly specialized in electronics technology, introducing the world’s cutting-edge electronics products to Japan ahead of competitors, with engineering employees accounting for 42.2% of its workforce.
- Accordingly, the company’s strength lies in proposal-based consulting sales that provide optimal solutions based on customer needs.
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