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 | Advantest, Ibiden, Recruit, Infroneer, Glosel

Equity Bottom-Up

<ul>
<li>
 JWD Acquisition: Infroneer acquires Japan Wind Development for ¥200 billion, sparking a ¥75 billion market cap dip and concerns about potential overpayment.</li>
<li>
 Valuation Analysis: Using DCF and comparable transaction values, estimates suggest JWD's equity value may be far lower than the agreed-upon ¥200 billion.</li>
<li>
 Need for Transparency: Infroneer's claim of fair value requires scrutiny. Market suggests an estimated fair value of ¥125 billion, emphasizing the need for detailed information on the acquisition.</li>
</ul>



 JWD Acquisition: Infroneer acquires Japan Wind Development for ¥200 billion, sparking a ¥75 billion market cap dip and concerns about potential overpayment.

 Valuation Analysis: Using DCF and comparable transaction values, estimates suggest JWD's equity value may be far lower than the agreed-upon ¥200 billion.

 Need for Transparency: Infroneer's claim of fair value requires scrutiny. Market suggests an estimated fair value of ¥125 billion, emphasizing the need for detailed information on the acquisition.


INFRONEER Holdings

Infroneer (5076) | Valuation Turbulence