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

TOPIX Inclusions:  New Regulations! Who Is READY? 2.0

Historical TOPIX Inclusions:  What Flavor Performs Best?

Nippon Rietec's (1938) Gangbusters TOPIX Inclusion

TOPIX Inclusion: Retail Partners (8167 JP)

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

On Friday after market-close, Japanese optical films manufacturer <a href="https://www.smartkarma.com/entities/keiwa-inc" target="_blank" data-smartkarma-citation="entities:31047:1" rel="noopener">Keiwa (4251 JP)</a> announced (<a href="https://ssl4.eir-parts.net/doc/4251/tdnet/1909509/00.pdf" target="_blank" rel="noopener">J-only</a>) they had received approval to move from the Second Section to the First Section of the Tokyo Stock Exchange as of 17th December 2020. KEIWA Incorporated manufactures optical sheets and functional products in Japan. Their light diffusion sheets are used in the backlight units of liquid crystal displays of smartphones. The company also manufacturers other products such as industrial packaging materials, industrial processing papers, and clean energy materials. TSE1 reassignment triggers inclusion into the TOPIX Index and the Inclusion Event can be expected to be at the close of trading 28th January 2021. In conjunction with the TSE1 reassignment announcement, the company has also announced (<a href="https://ssl4.eir-parts.net/doc/4251/tdnet/1909508/00.pdf" target="_blank" rel="noopener">J-only</a>) a sale of shares for a total quantity of 1,600,000 shares including the over-allotment portion.In this insight, we take a look at the Index Inclusion Parameters and the Fundamentals of the company to evaluate the upside potential of the TOPIX Inclusion Event.

On Friday after market-close, Japanese optical films manufacturer Keiwa (4251 JP) announced (J-only) they had received approval to move from the Second Section to the First Section of the Tokyo Stock Exchange as of 17th December 2020. KEIWA Incorporated manufactures optical sheets and functional products in Japan. Their light diffusion sheets are used in the backlight units of liquid crystal displays of smartphones. The company also manufacturers other products such as industrial packaging materials, industrial processing papers, and clean energy materials. TSE1 reassignment triggers inclusion into the TOPIX Index and the Inclusion Event can be expected to be at the close of trading 28th January 2021. In conjunction with the TSE1 reassignment announcement, the company has also announced (J-only) a sale of shares for a total quantity of 1,600,000 shares including the over-allotment portion.In this insight, we take a look at the Index Inclusion Parameters and the Fundamentals of the company to evaluate the upside potential of the TOPIX Inclusion Event. 

TOPIX Inclusion (4251 JP): KEIWA Incorporated