Japanese net-nets: update

In 2013 I bought my first couple of Japanese net-nets and expanded the basket the basket with a few more positions in 2014. In this post I’ll list my current Japanese holdings. There have been a few developments that have led me to buy a few more Japanese positions since the last update in 2014. […]

Takeover bid for Hakuseisha (JP:9736)

A positive development today for one of the Japanese companies in my portfolio. Aeon Delight has made a takeover offer for shares of Hakuseisha Co (JP:9736) of ¥800 per share. This is a 139% premium to the October 27 closing price of ¥335. Aeon Delight (JP:9787) is a public company itself and has a market […]

Eidai Kako: 53% of NCAV and 29% of BV

A recent buy for my basket in Japan is Eidai Kako (TYO:7877). This is another example of a stock with a lot-size of 1000 shares that is trading at an extreme discount to book value and net current asset value. At the current stock price of ¥287, the minimum investment required would be about $2400. […]

Denkyosha: profitable and trading at 37% of BV

Japanese shares have been soaring since 2012 and the Nikkei is currently at a level last seen in 2000. As a result many of the net-nets that were available in Japan have now disappeared. This has made it a bit harder to find replacements for companies in my Japanese basket of stocks. As a general […]

Bought Daiken Co, sold Sugimoto

Shares of Sugimoto (TYO:9932) have been creeping up a bit lately. As the stock is now trading much closer to net current asset value (around 0.89x, including the long-term investments), I decided to sell my shares. I figured there had to be something cheaper out there. With my Japanese holdings I’m more inclined to sell […]