In today’s briefing:
- JPX-Nikkei 400 Rebalance 2022: Leaderboard End-Feb 2022
- SBI Sumishin Net Bank IPO: Bricks ‘n’ Clicks
- Koshidaka Holdings (2157): Announced Capital and Business Alliance with Advantage Advisors
- Japan’s Governance: Do Profitable Companies Improve Corporate Governance?
JPX-Nikkei 400 Rebalance 2022: Leaderboard End-Feb 2022
- JPX-Nikkei 400 is composed of common stocks listed in the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.
- A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year.
- Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2022 based on trading data as of end-February 2022.
SBI Sumishin Net Bank IPO: Bricks ‘n’ Clicks
- SBI Sumishin Net Bank (7163 JP) aims to be the first listed Japanese online bank. It is looking to raise about $1 billion. The listing is set for 24 March.
- Founded in 2007, SBI Sumishin Net Bank is owned 50% by SBI Holdings (8473 JP) and 50% by Sumitomo Mitsui Trust Holdings (8309 JP).
- On balance, the fundamentals look sound. The IPO is worth a look for investors willing to brave the weak IPO market conditions.
Koshidaka Holdings (2157): Announced Capital and Business Alliance with Advantage Advisors
Targeting long-term growth by leveraging external funds and talents
Selecting a financing scheme that is unlikely to weigh on the stock price
Koshidaka HD’s capital raising scheme has a high minimum exercise/conversion price and a high base price (800 yen)
Japan’s Governance: Do Profitable Companies Improve Corporate Governance?
- This article focuses on the question: Do profitable companies improve corporate governance?
- The more profitable companies tend to use the cash generated in a more thoughtful manner, while we can’t say that they are more engaged in board practices.
- The high percentage of foreign shareholders in companies with high ROA may be related to the fact that these companies have become more careful about how they use cash flow.
Before it’s here, it’s on Smartkarma
