In today’s briefing:
- Japan Lifeline (7575 JP) Throws a Lifeline to Its Share Price
- LINE Gift up 330% in 2021
- Daiwa Office REIT (8976) Buyback – It Looks Better Than It Probably Is
- Rohm (6963 JP): Probably Won’t Buy Toshiba’s Electronic Devices Business
- ECM Weekly (27th Feb 2022) – LIC, SBI Sumishin, Farm Fresh, Yunkang, Shanghai Pulse, Jinmao, IDP Edu
Japan Lifeline (7575 JP) Throws a Lifeline to Its Share Price
- Japan Lifeline announced a buyback on Friday after the close.
- The stock saw a huge growth spurt in the first half of the last decade but slowed down post 2018. So the stock has significantly underperformed the sector.
- The buyback parameters and the stock’s trading history suggest that with the stock near a 5-year low, it is worth looking a little deeper.
LINE Gift up 330% in 2021
- LINE Gift is fast becoming the most popular way to send gifts of all kinds, even traditional gifts sent at mid-year and New Year.
- This is good news for Z Holdings (4689 JP) and Softbank, as well as LINE, as the gifting platform acts as a unifying point for their disparate e-commerce platforms.
- Although the corporate gift market is in decline, personal gift giving remains a growth market, offering further upside.
Daiwa Office REIT (8976) Buyback – It Looks Better Than It Probably Is
- Daiwa Office Investment (8976 JP) announced on Thursday an extraordinary but minor income amount from a legal settlement, and a buyback.
- This buyback resembles those conducted from February to May 2018 and 2021.
- A look at the pattern of buyback execution vs parameters and of Daiwa Office performance vs the sub-sector within prior buybacks is worthwhile.
Rohm (6963 JP): Probably Won’t Buy Toshiba’s Electronic Devices Business
- Based on following the company for 25 years, I agree with Mio Kato: I do not think Rohm would or should acquire Toshiba’s power semiconductor operations.
- It would violate Rohm’s commitment to a sound financial structure and saddle it with an integration problem that might never be solved.
- Far better to keep working with the NEDO power device consortium while continuing to expand and improve its own power device business.
ECM Weekly (27th Feb 2022) – LIC, SBI Sumishin, Farm Fresh, Yunkang, Shanghai Pulse, Jinmao, IDP Edu
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- Life Insurance Corp of India (1248Z IN) and SBI Sumishin Net Bank (7163 JP) are the big listing still on the anvil.
- Placement scene continues to remain quiet, with CTOS Digital Bhd (CTOS MK) being the only large one.
Before it’s here, it’s on Smartkarma
