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.

Japan Weekly | Stocks Take a Break After Rising +17% in Q1

Hogy Medical (3593) | New Strategy Sparks Investor Confidence

Eiken Chemical (4549) | Activists, Alchemy, and the Pursuit of Profit

Equity Bottom-Up

<ul>
<li>The med-tech sector is ripe for consolidation. Smaller players like <a href="https://www.smartkarma.com/entities/hogy-medical-co-ltd" target="_blank" data-smartkarma-citation="entities:10493:1" rel="noopener">Hogy Medical (3593 JP)</a> , and <a href="https://www.smartkarma.com/entities/eiken-chemical-co-ltd" target="_blank" data-smartkarma-citation="entities:12675:1" rel="noopener">Eiken Chemical (4549 JP)</a>  exhibit sub-par growth and lagging valuations</li>
<li>Activist investors like ValueAct Capital, Dalton and Asset Value have recognized an opportunity for growth and potential M&amp;A</li>
<li>Both Hogy and Eiken trades at a deep discount to larger domestic peers and stand to benefit the most from any consolidation</li>
</ul>


The med-tech sector is ripe for consolidation. Smaller players like Hogy Medical (3593 JP) , and Eiken Chemical (4549 JP)  exhibit sub-par growth and lagging valuations
Activist investors like ValueAct Capital, Dalton and Asset Value have recognized an opportunity for growth and potential M&amp;A
Both Hogy and Eiken trades at a deep discount to larger domestic peers and stand to benefit the most from any consolidation


Consolidation in the Med-Tech Sector? Eiken and Hogy to Benefit