Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

BeNEXT - Yumeshin Merger: FTSE Upweight Is a Positive Surprise

TOPIX Inclusions: A Look at TSE1 Direct Listings

TOPIX Inclusion: WingArc1st Inc (4432 JP)

BeNEXT - Yumeshin Merger: Interesting Fundamentals and a TOPIX Index Event

2021 High Conviction: McDonald's Japan -  A TOPIX Inclusion BIG Bet

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<div class="content-highlight">In late-January, we witnessed the announcement of a merger between temporary staffing companies <a href="https://www.smartkarma.com/entities/trust-tech-inc" target="_blank" data-smartkarma-citation="entities:17685:1" rel="noopener">BeNEXT Group (2154 JP)</a> and <a href="https://www.smartkarma.com/entities/yumeshin-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:12939:1" rel="noopener">Yumeshin Holdings (2362 JP)</a>. I discussed this Deal in <a href="https://www.smartkarma.com/insights/benext-yumeshin-merger-interesting-fundamentals-and-a-topix-index-event" target="_blank" data-smartkarma-citation="insights:47566" rel="noopener">BeNEXT - Yumeshin Merger: Interesting Fundamentals and a TOPIX Index Event</a> explaining why I was BULLISH. Shares in both companies have rallied 25%+ in less than 2 months.  </div>Now we have a similar situation again. Japan-based waste water management company <a href="https://www.smartkarma.com/entities/takeei-corp" target="_blank" data-smartkarma-citation="entities:7936:1" rel="noopener">Takeei Corp (2151 JP)</a> and metal recycling company <a href="https://www.smartkarma.com/entities/rever-holdings-corp" target="_blank" data-smartkarma-citation="entities:32218:1" rel="noopener">Rever Holdings Corp (5690 JP)</a> announced after market-close on 18th March 2021 (<a href="https://ssl4.eir-parts.net/doc/2151/tdnet/1945449/00.pdf" target="_blank" rel="noopener">J-only</a>) that they had agreed to merge in a transaction that will see both companies joined under a new combined holding company. According to their announcement, the merger is expected to be effective on 1st October 2021 which will also be the listing date for the new combined entity.  This too is an interesting small cap situation.

In late-January, we witnessed the announcement of a merger between temporary staffing companies BeNEXT Group (2154 JP) and Yumeshin Holdings (2362 JP). I discussed this Deal in BeNEXT - Yumeshin Merger: Interesting Fundamentals and a TOPIX Index Event explaining why I was BULLISH. Shares in both companies have rallied 25%+ in less than 2 months.  Now we have a similar situation again. Japan-based waste water management company Takeei Corp (2151 JP) and metal recycling company Rever Holdings Corp (5690 JP) announced after market-close on 18th March 2021 (J-only) that they had agreed to merge in a transaction that will see both companies joined under a new combined holding company. According to their announcement, the merger is expected to be effective on 1st October 2021 which will also be the listing date for the new combined entity.  This too is an interesting small cap situation.

Takeei (2151 JP) - Rever (5690 JP) Merger: TOPIX Event to Be Triggered