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

Historical TOPIX Inclusions:  What Flavor Performs Best?

TOPIX Inclusion Pre-Events: Recent "Tachiaigai Bunbai" Round-Up

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

The dry spell is over.We have our first TSE1 Reassignment announcement for the month of August 2020. TSE Mothers-listed <a href="https://www.smartkarma.com/entities/copro-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:29136:1" rel="noopener">Copro-Holdings Co Ltd (7059 JP)</a> announced (<a href="https://ssl4.eir-parts.net/doc/7059/tdnet/1879295/00.pdf" target="_blank" rel="noopener">J-only</a>) after market-close today it had received approval to move to TSE1 as of 11th September 2020. In conjunction, they also launched a <a href="https://ssl4.eir-parts.net/doc/7059/tdnet/1879294/00.pdf" target="_blank" rel="noopener">tachiaigai bunbai</a>(equity offering) to satisfy some of the TSE1 Section Transfer requirements. TSE1 reassignment triggers inclusion into the TOPIX Index and I expect the Inclusion Event to be at the close of trading 29th October 2020. <div class="content-highlight">
In an insight in June, <a href="https://www.smartkarma.com/insights/topix-inclusion-pre-events-recent-tachiaigai-bunbai-round-up" target="_blank" data-smartkarma-citation="insights:40509" rel="noopener">TOPIX Inclusion Pre-Events: Recent "Tachiaigai Bunbai" Round-Up</a>, I identified this stock as a potential TSE1 promotion candidate. However, since it was in the "Small Size Small Inclusion" (RED) category at that time (based on Quiddity's TOPIX Inclusion Framework introduced in <a href="https://www.smartkarma.com/insights/historical-topix-inclusions-what-flavor-performs-best" target="_blank" data-smartkarma-citation="insights:39523" rel="noopener">Historical TOPIX Inclusions:  What Flavor Performs Best?</a>), it was removed from our Pre-event watch list.
Since the TSE1 move has now been confirmed, here is my latest opinion on the situation.  
</div>

The dry spell is over.We have our first TSE1 Reassignment announcement for the month of August 2020. TSE Mothers-listed Copro-Holdings Co Ltd (7059 JP) announced (J-only) after market-close today it had received approval to move to TSE1 as of 11th September 2020. In conjunction, they also launched a tachiaigai bunbai(equity offering) to satisfy some of the TSE1 Section Transfer requirements. TSE1 reassignment triggers inclusion into the TOPIX Index and I expect the Inclusion Event to be at the close of trading 29th October 2020. 
In an insight in June, TOPIX Inclusion Pre-Events: Recent "Tachiaigai Bunbai" Round-Up, I identified this stock as a potential TSE1 promotion candidate. However, since it was in the "Small Size Small Inclusion" (RED) category at that time (based on Quiddity's TOPIX Inclusion Framework introduced in Historical TOPIX Inclusions:  What Flavor Performs Best?), it was removed from our Pre-event watch list.
Since the TSE1 move has now been confirmed, here is my latest opinion on the situation.  


TOPIX Inclusion (7059 JP): COPRO Holdings

COPRO-HOLDINGS Co Ltd

TOPIX Inclusion (7059 JP): COPRO Holdings