Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>Foreigners own 50% of this name. Although earnings have gone nowhere, and it looks like this will remain the case, the company is cash rich, has been cash flow positive, owns just under 10% in itself and trades at 0.65x book. As such it’s a buy for those with patience and who buy value. Unlocking this may take time, although management are aware of the need to improve returns to shareholders given the uninspiring market in which they operate.</p><p>This is a furniture (30% of sales) and home centre…</p>

Foreigners own 50% of this name. Although earnings have gone nowhere, and it looks like this will remain the case, the company is cash rich, has been cash flow positive, owns just under 10% in itself and trades at 0.65x book. As such it’s a buy for those with patience and who buy value. Unlocking this may take time, although management are aware of the need to improve returns to shareholders given the uninspiring market in which they operate.This is a furniture (30% of sales) and home centre…

Shimachu (8184) Very Cheap but Where Is It Going ?

Shimachu Co Ltd

Shimachu (8184) Very Cheap but Where Is It Going ?