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

<ul>
<li>On Friday, <a href="https://www.smartkarma.com/entities/wacoal-holdings-corp" target="_blank" data-smartkarma-citation="entities:6274:1" rel="noopener">Wacoal Holdings (3591 JP)</a> announced <a href="https://www.wacoalholdings.jp/en/ir/topics/files/f3dbf60408c47eef2dd5304ded2de336.pdf" target="_blank" rel="noopener">earnings</a>, <a href="https://www.wacoalholdings.jp/en/ir/topics/files/wacoalholdingsnews20220513_4en.pdf" target="_blank" rel="noopener">adoption of IFRS</a> this year (US GAAP til now), <a href="https://www.wacoalholdings.jp/en/ir/topics/files/766f7c4fa1b24fc35d5e6098f22433cf.pdf" target="_blank" rel="noopener">dividends</a>, a <a href="https://www.wacoalholdings.jp/en/ir/topics/files/f3dbf60408c47eef2dd5304ded2de336.pdf" target="_blank" rel="noopener">div hike</a> and higher earnings this year, and a <a href="https://www.wacoalholdings.jp/en/ir/topics/files/wacoalholdingsnews20220513_5en.pdf" target="_blank" rel="noopener">HUGE buyback</a>.</li>
<li>The buyback is for up to 5.5mm share (8.95% of shares) spending up to ¥10bn.</li>
<li>Given the structure of the shareholder base, this opens up interesting possibilities.</li>
</ul>


On Friday, Wacoal Holdings (3591 JP) announced earnings, adoption of IFRS this year (US GAAP til now), dividends, a div hike and higher earnings this year, and a HUGE buyback.
The buyback is for up to 5.5mm share (8.95% of shares) spending up to ¥10bn.
Given the structure of the shareholder base, this opens up interesting possibilities.


HUGE Wacoal (3591) Buyback - Buyback Structure Unknown But Interesting Possibilities Exist