VIB Premium: Company 2

Preview: Company 2 is a US-listed microcap bank that trades over the counter (OTC). An investor with some history of activism has taken a significant stake in this bank. This investor is not one of the very well-known activists like Stilwell and he has not made his intentions known yet. I expect the activist to […]

VIB Premium: Japanese basket – July, 2019

Preview: This post provides an overview of all the Japanese companies that are currently in my portfolio. Most of these companies are cash-rich net-nets, but there are a couple of companies in the basket that I like for other reasons, such as: a large discount to book value or significant share buybacks by a company. […]

Solcom (TYO:1987) looks cheap, Sold Fujimak (TYO:5965)

After Daiken (TYO:5900) last week, I sold my shares of Fujimak (TYO:5965) today. Like Daiken, Fujimak’s stock has also shot up in recent weeks and is up ~75% this year. The company is now selling at 0.72x book value. Fujimak did report pretty strong earnings for their third fiscal quarter. My approach in Japan has […]

Sold Daiken (TYO:5900)

Daiken Co (TYO:5900) has been in my portfolio for a little over two years. The original post about the company can be found here. At the time, Daiken was a Graham net-net and selling at 0.62x NCAV and 0.33x book value. The company was – and still is – a pretty stable performer, producing fairly […]

Activists emerge at Okayama Paper Industries

There has been some activist activity at Okayama Paper Industries (TYO:3892) recently. Okayama Paper has been in my basket of Japanese stocks for quite a while now. Apparently a Japanese hedge fund with a history of shareholder activism has spoken up at an Okayama annual meeting and subsequently demanded an extraordinary shareholders meeting. The company […]