Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Capital market veteran with 22 years experience with stints as an analyst (sell-side & buyside), investor relations and fund manager. 

My key expertise in the aviation sector. My definition of "aviation" includes airlines, travel tours, airports, airport retail & services, OEMs, online travel agents, aircraft lessors, air cargo/logistics, etc.   

I have an active watchlist consisting 190 companies across 41 countries. The aviation sector is highly cyclical and I am constantly evaluating signals to uncover attractive trade opportunities.

Japanese Laggard Opportunity #1: Kato Sangyo (9869 JP)

The Hunt for the Japanese Laggards, Here Are 47 Attractive Companies

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/okuma-corp" target="_blank" data-smartkarma-citation="entities:6688:1" rel="noopener">Okuma Corp (6103 JP)</a> is flagged as a good candidate to boost its shareholder value, it has a net cash balance sheet, P/BV of 0.9x and low PE of 10.7x  </li>
<li>Management has elaborated a detailed plan to boost its P/BV ratio, with targets to boost revenues and profit margins, as well as a 35% dedicated payout for dividends </li>
<li>Okuma should trade at least 1x Book given its strong business positioning and brand name; we derive a fair value of <strong>JPY7,300 (11% UPSIDE) </strong>using FY2024's forecast book value </li>
</ul>



Okuma Corp (6103 JP) is flagged as a good candidate to boost its shareholder value, it has a net cash balance sheet, P/BV of 0.9x and low PE of 10.7x  
Management has elaborated a detailed plan to boost its P/BV ratio, with targets to boost revenues and profit margins, as well as a 35% dedicated payout for dividends 
Okuma should trade at least 1x Book given its strong business positioning and brand name; we derive a fair value of JPY7,300 (11% UPSIDE) using FY2024's forecast book value 


Japanese Laggard Opportunity #2: Okuma Corp (6103 JP)