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

Nippon Yusen (9101) BIG Buyback Announced

KLINE (9107) - More Profit, More Shareholder Return 3mo Buyback Inbound

Nippon Yusen (9101) - Another Big Buyback Announced, But Details Matter

KLINE (9107) - Salutary Earnings, Decent Div, Strong Forecast, and Flow To Come

KLine (9107) Buyback Redux-Squared - Post-Buyback Could Get Squeezy

KLINE (9107) - Chances for an Additional Buyback At Q3 Earnings?

KLINE (9107) CEO Comes Out Swinging - More LPG Carriers and More Shareholder Returns THIS YEAR

Quiddity Advisors

Event-Driven

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a> announced Q1 earnings. As expected, net was WAY down on weak container business. But the company revised up H1 and Full-Year.</li>
<li>KLINE increased its FY2023 payout, upping its expected buyback plan from ¥50bn to ¥60bn. This is still cheap at 8.5x and 0.7x book, and there is non-container growth. </li>
<li>The structure of the buyback deserves attention. It may deserve a very short-term trade. The buyback construct has the possibility of "fun and games."</li>
</ul>


Today, Kawasaki Kisen Kaisha (9107 JP) announced Q1 earnings. As expected, net was WAY down on weak container business. But the company revised up H1 and Full-Year.
KLINE increased its FY2023 payout, upping its expected buyback plan from ¥50bn to ¥60bn. This is still cheap at 8.5x and 0.7x book, and there is non-container growth. 
The structure of the buyback deserves attention. It may deserve a very short-term trade. The buyback construct has the possibility of "fun and games."


KLINE (9107) Ups Shareholder Return - Fun & Games May Ensue