Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

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Event-Driven

This evening, <a href="https://www.smartkarma.com/entities/kyushu-railway-company" target="_blank" rel="noopener" data-smartkarma-citation="entities:23609:1">Kyushu Railway Company (9142 JP)</a><a href="https://www.smartkarma.com/entities/orix-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:9936:1"></a> announced a buyback for up to 3.2mm shares (2% of shares outstanding) and up to ¥10 billion to be conducted between 6 November 2019 and 31 March 2020.While this is not a big buyback, it is an olive branch to Fir Tree, an activist investor, that holds 6.1% of the company shares and has been pushing for a stock buyback of 10% of the company shares.In this Insight, we look at the buyback details, the history between Fir Tree and the company, and the potential impact on the stock.

This evening, Kyushu Railway Company (9142 JP) announced a buyback for up to 3.2mm shares (2% of shares outstanding) and up to ¥10 billion to be conducted between 6 November 2019 and 31 March 2020.While this is not a big buyback, it is an olive branch to Fir Tree, an activist investor, that holds 6.1% of the company shares and has been pushing for a stock buyback of 10% of the company shares.In this Insight, we look at the buyback details, the history between Fir Tree and the company, and the potential impact on the stock.

Kyushu Railway - An Olive Branch to Fir Tree