Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

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<li><a href="https://www.smartkarma.com/entities/as-one-corporation" target="_blank" data-smartkarma-citation="entities:13040:1" rel="noopener">AS ONE Corporation (7476 JP)</a>  is a specialist trading company that dominates its niche in scientific instruments and medical equipment.</li>
<li>
The end markets are largely uncorrelated with the vagaries of the broader economy.  
</li>
<li>
AS ONE is a leading wholesale company in Japan on any financial metric and is gaining market share versus less profitable, less tech-driven distributors.  
</li>
<li>
AS ONE continually reinvests in its core business to improve its long-term competitive advantage. 
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<li>
AS ONE’s financial model returns a stable double-digit ROE, which underpins the capital allocation policy balanced between reinvestment (50%) and shareholder returns (50% payout ratio).    
</li>
<li>Investors may start to compare AS ONE with MonotaRo, given the many similarities, resulting in potentially higher valuations. </li>
</ul></div>


AS ONE Corporation (7476 JP)  is a specialist trading company that dominates its niche in scientific instruments and medical equipment.

The end markets are largely uncorrelated with the vagaries of the broader economy.  


AS ONE is a leading wholesale company in Japan on any financial metric and is gaining market share versus less profitable, less tech-driven distributors.  


AS ONE continually reinvests in its core business to improve its long-term competitive advantage. 


AS ONE’s financial model returns a stable double-digit ROE, which underpins the capital allocation policy balanced between reinvestment (50%) and shareholder returns (50% payout ratio).    

Investors may start to compare AS ONE with MonotaRo, given the many similarities, resulting in potentially higher valuations. 


AS ONE Corporation

As One (7476) - A Mini-MonotaRO