Don’t own this one but interesting thing about Toho and many other Japanese companies is that they have huge real estate and land portfolios on their books that are often always undervalued

@CacheThatCheque The fair value gap for the rental RE is disclosed in the yuho. They own some prime assets. Book value ¥189 billion their FMV disclosure says ¥664 billion. Also a net cash company. So pretty dang conservative. Would like to see some more buybacks though