Melco Holdings BuyBack: Start of a Trend?

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

<p>Whether or not <a href="https://www.smartkarma.com/entities/6597" target="_blank" data-smartkarma-citation="entities:6597:1">Melco Holdings (6676 JP)</a> is going to prove to be a pioneer of the massive share buyback, what is clear is that it is working for the company's stock and its investors, with the result that following a somewhat lackluster 1Q FY17 performance (OP up 7% on sales down 2%), the company has once again concluded that the best thing it can do with its cash pile is return it to shareholders. The company will buy back up to 15.6% of shares for ¥10.5bil.</p><p>Investors, though, are beginning to…</p>

Whether or not Melco Holdings (6676 JP) is going to prove to be a pioneer of the massive share buyback, what is clear is that it is working for the company's stock and its investors, with the result that following a somewhat lackluster 1Q FY17 performance (OP up 7% on sales down 2%), the company has once again concluded that the best thing it can do with its cash pile is return it to shareholders. The company will buy back up to 15.6% of shares for ¥10.5bil.Investors, though, are beginning to…

Melco Holdings (6676) - Another Year, Another Huge BuyBack