bullish
Takigami Steel Construction (TYO 5918) - A Portfolio of Public Securities
SUMMARY
Company is marginally profitable and owns a portfolio of securities (mostly public stocks) and rental real estate worth ~3x its market cap (~¥18,000 /share vs ¥6,000 stock price).
These figures assign zero value to the operating business and its fixed assets.
Activist investor is the #1 shareholder with a 17.4%. #2 shareholder owns 11% and will likely align with activist. Insiders don’t own enough to easily block future activism.
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