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

NTT (9432) - Salutary Earnings Salutary Buyback, More to Go

KDDI (Buy) Q4 21 Results Reaction: FY22 Profits Steady and Wide-Ranging Mid-Term Plan

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Equity Bottom-Up

<ul>
<li>KDDI reported earnings today, offering a near meaningless March 2022 results presentation slide deck, and an only slightly more meaningful new Mid-Term Plan.</li>
<li>The only clarity provided is on the bit which makes up about a third of future OP as the two-thirds (mobile telephony ARPU-related revenues) will see considerable pain this year. </li>
<li>The buyback is nice, but KDDI is no longer cheap, and may have relative upside only against Softbank Corp. </li>
</ul>


KDDI reported earnings today, offering a near meaningless March 2022 results presentation slide deck, and an only slightly more meaningful new Mid-Term Plan.
The only clarity provided is on the bit which makes up about a third of future OP as the two-thirds (mobile telephony ARPU-related revenues) will see considerable pain this year. 
The buyback is nice, but KDDI is no longer cheap, and may have relative upside only against Softbank Corp. 


NTT (Nippon Telegraph & Telephone) (9432 JP)

KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap

KDDI Corp

KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap