Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Today after the close, <a href="https://www.smartkarma.com/entities/10600" target="_blank" data-smartkarma-citation="entities:10600:1">Foster Electric (6794 JP)</a> - which makes earphones, headphones, speakers, transducers, acoustic/magnetic buzzers and sounders, etc for the smartphone, audio, and automotive industries - <a href="http://www.foster.co.jp/news/pdf/20180830_jikokabushiki_shutoku.pdf" target="_blank">announced</a> (Japanese only) a stock buyback, to be conducted on-market from 3 September 2018 to 31 March 2019.
It is something of a doozy.
Foster Electric is a small cap company (JPY 36bn yen market cap now, down from more than JPY 100bn earlier this year), but it is well-known as an "<a href="https://www.smartkarma.com/entities/666" target="_blank" data-smartkarma-citation="entities:666:1">Apple Inc (AAPL US)</a> name." Or it was.
Earlier this month, the company revised down its full-year forecast, lowering its revenue forecast by 6.7%, its Operating Profit forecast by 45%, and its net profit forecast from a gain of ¥2.5bn to a loss of the same magnitude because of lower forecast sales to "a major customer." The company took a ¥978mm loss offering early retirement to employees in Vietnam, and took a ¥2bn write-down on P&amp;E.
It is using some of its cash to make amends to shareholders.
If you have any cares in the name, or the theme, this might be worth a look.

Today after the close, Foster Electric (6794 JP) - which makes earphones, headphones, speakers, transducers, acoustic/magnetic buzzers and sounders, etc for the smartphone, audio, and automotive industries - announced (Japanese only) a stock buyback, to be conducted on-market from 3 September 2018 to 31 March 2019.
It is something of a doozy.
Foster Electric is a small cap company (JPY 36bn yen market cap now, down from more than JPY 100bn earlier this year), but it is well-known as an "Apple Inc (AAPL US) name." Or it was.
Earlier this month, the company revised down its full-year forecast, lowering its revenue forecast by 6.7%, its Operating Profit forecast by 45%, and its net profit forecast from a gain of ¥2.5bn to a loss of the same magnitude because of lower forecast sales to "a major customer." The company took a ¥978mm loss offering early retirement to employees in Vietnam, and took a ¥2bn write-down on P&amp;E.
It is using some of its cash to make amends to shareholders.
If you have any cares in the name, or the theme, this might be worth a look.

Foster Electric

Foster Electric Announces YUUUGE Buyback