Made in Japan 🇯🇵

5.2K posts

Made in Japan 🇯🇵 banner
Made in Japan 🇯🇵

Made in Japan 🇯🇵

@InvestInJapan

Everything on Japanese Culture & Investing 🌱 Local market insights 🗺️ Quality 📈 Hidden Gems 🔍 Unique mental models 🧠 Views my own. Not investment advice.

Kamakura-shi, Kanagawa Katılım Mart 2023
982 Takip Edilen11.6K Takipçiler
Sabitlenmiş Tweet
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
The First episode of the Made in Japan podcast is finally out. (Link in reply) We felt our interview with Philip was going to be the perfect first episode as an introduction to Japanese markets. Over the last 2 decades, he’s seen the country as a lawyer, investment banker and now an investor. He’s worked with truly the pioneers of Japanese activist investing like Yoshiaki Murakami of M&A Consulting and Seth Fischer of Oasis. Through his adventures not just in Japan but in East Asia, he has so many interesting stories to tell! We learnt ⚪︎Why Activism Struggled in the past and why that’s changing ⚪︎Why Activism, and Japan, is still a huge opportunity today ⚪︎Some of the misconceptions of Activism ⚪︎Japan’s unique business culture and how Japanese companies think about M&A ⚪︎And some of his favourite things to do in Japan! We still have alot to improve on so we’d love to hear your feedback, thoughts or suggestions if you have any!! Or even any guests that you’d want us to interview! We hope you enjoy this conversation. If you liked it and want to hear more, we would really appreciate it if you like this post, retweet, and subscribe! Thank you for your interest and support ♥️🎌 Finally a special thank you to the people around us who’s been so encouraging and supportive for this project. Ben and I still have no idea where this’ll go but we hope to bring some unique perspectives!
Made in Japan 🇯🇵 tweet media
English
6
13
86
37.9K
Jamie Halse (Senjin Capital) 🇳🇿🇦🇺🇯🇵
Jamie Halse (Senjin Capital) 🇳🇿🇦🇺🇯🇵@JamieHalse·
@InvestInJapan Sadly there are very few good capital allocators in Japan. Many who have done well are nevertheless happy to allocate capital to low-returning opportunities. Sad, but true. More corporate finance education at university and/or encouragement to pursue MBAs could help this!
English
2
0
4
534
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
Cool! Fujikura Composite $5121.JP has a high margin golf club segment, thats also high market share hidden amongst their low margin industrial business.. Seems like golf is really catching on post Covid too. Trades at 10x P/E
億万株姫☆あばねちゃん（２０歳）@AbaneChan

フジクラのヤフー掲示板に5121の藤倉コンポジットの中計張ったやつ許さない。ChatGPTに投げちゃったじゃない。 まとめると“ゴルフシャフトの高収益一本足打法から、産業用資材も稼げる会社に変われるか”を見る中計。"

English
2
2
19
5.1K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
What it feels like at least with Japan is that you could almost hear retail flows being sucked out of anything non semi/AI related to Semi/AI names. This reminds me of the set up in 2024 when cheap growth was getting killed because all the flows went to large caps. There are a bunch of cheap companies now growing earnings nicely, some even hitting their full year targets in 6 months and no one seems to care. I can see why all the AI related stuff can be interesting but man, these cheap companies growing earnings double digits is hard to pass on.
English
0
0
8
915
David Orr
David Orr@orrdavid·
I've been reviewing what's been going wrong for me since March 1st in the hedge fund. I'm personally in a 20% drawdown (-15% after fees), which is particularly bad for me. Usually during tough periods it's my short book causing problems. This time it's not. My shorts are only losing me 11% since then, while I have been 165% gross short and the Russell 2000 (best proxy for my short book) is up 9%. Gross adjusted, my shorts should be down 15%. Plus, my shorts run higher beta so really they should be down 20%. So alpha on shorts has actually been strong. The market did go up real fast, so of course I lost a lot, but I still consider this a big victory. It's the long book where I am getting *killed*. This is so different from past junk meltups. Stocks like $9022, JR Central who's main asset is the famous Shinkansen that links Tokyo with Nagoya, Kyoto and Osaka. This is one of my big losers. This trades for 7x earnings with solid earnings growth.
David Orr tweet media
English
46
16
425
110.2K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
This is an important point, having pricing power and exercising it are two different things. Many Japanese companies have the former but refuse the latter. Although it’s also not that simple given price increases have been a relatively new concept in Japan after a long stretch of deflation. The stakeholder mindset also indeed means that they prioritise long term relationships. Some might even fear being called price gougers. But many of their customers aren’t even Japanese, they’re savvy international corporates. When the cycle turns they sure as hell won’t say “oh hey you’ve been nice to us so let us pay more during this tough time” and due to the weak JPY it’s even cheaper. So the issue is if not now, then when?
Jukan@jukan05

Do you see why Nittobo’s stock has been moving sideways now? They have no intention of raising prices. Unlike memory companies, which are aggressively raising prices right now, Japanese companies like this place an extreme emphasis on customer relationships and market share. This is also one of the reasons I did not buy Nittobo or Ajinomoto. They are too conservative and care too much about their customers. Japanese companies, please start abusing your pricing power a little… like the memory companies.

English
2
1
28
5.1K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
The most interesting people are on X, not on LinkedIn. That's the alpha.
English
4
2
25
4.1K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
Wrote this one a while ago in case you need it! Solid business but ultimately exited as i was not really liking the new CEO. One of the reason why I found it asymmetric is because Hikari keeps buying at certain prices that it creates a floor. Underrated reason why following into Hikari ideas can provide a verh asymmetric r/r…
English
0
0
6
704
David Orr
David Orr@orrdavid·
$4389 8x EV/EBIT
David Orr tweet media
Value Trapped 🇸🇬@TheLongHappy

Buying ↗️↗️ : Kpp Group Holdings Co., Ltd. (TSE:9274) — Murakami - City Index Eleventh from 0% → 5.04% A&D HOLON Holdings Company, Limited (TSE:7745) — Strategic from 10.57% → 11.87% Nakano Corporation (TSE:1827) — Old Peak Group from 7.12% → 8.18% Sakai Chemical Industry Co., Ltd. (TSE:4078) — Zennor from 8.23% → 9.29% Property Data Bank, Inc. (TSE:4389) — Hikari Tsushin from 13.24% → 14.30% The Hanshin Diesel Works, Ltd. (TSE:6018) — Old Peak Group from 13.94% → 14.98% Pro-Ship Incorporated (TSE:3763) — Hikari Tsushin from 13.75% → 14.76% Cocorport, Inc. (TSE:9346) — Hikari Tsushin from 5.11% → 6.12% Selling ↘️↘️ : Pasona Group Inc. (TSE:2168) — Oasis from 5.02% → 0.19%

Eesti
3
1
20
15.7K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
One interesting heuristic I consider is which of my ideas on SS gets the LEAST engagement. These might be better ideas to be adding to.
English
1
0
6
1.5K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
Moves like this is why I think it’s psychologically beneficial to take at least some profits if things run up quickly in the short term. Momentum in Japan can be scary! Don’t own this, but i have a rule to take some profits when something doubles. I might look at this company in depth tho 👀
Made in Japan 🇯🇵 tweet media
English
1
0
10
2.3K
AltayCap
AltayCap@AltayCapital·
Bought some Suntory Beverage (2587) today. This is a cheap large cap JP consumer staple (most profits ex Japan from Europe/Asia). EV/EBIT of 8.6 (vs 24.6x for $KO). Yeah, KO is the better 'asset light' biz, but this is so much cheaper (and bit better yield too).
AltayCap tweet mediaAltayCap tweet media
English
4
2
51
6.3K
Made in Japan 🇯🇵
Made in Japan 🇯🇵@InvestInJapan·
As much as I'm excited for Japan on this Semi/AI opp Looking through some numbers, there's a whole bunch of them that simply aren't delivering (for e.g. not able to raise prices) where narrative/stock is running way ahead of fundamentals... be careful out there...
Made in Japan 🇯🇵@InvestInJapan

General mood among Japanese Semi bizes this earnings season is cautious guidance. Many are reporting Q4 and despite the huge tailwinds, are putting out conservative guides. Maybe more than usual. Which I understand given the state of the world. And the market just believes what they say wholeheartedly. Honestly, it feels like you can just avoid some headache if you know a management team is conservative 😂

English
1
0
16
3.2K

Keşfet

@JamieHalse @atelicinvest @nomurasyo @MikeFritzell @altaica1 @elonmusk @BarackObama @taylorswift13