Category: Investment

Bloomberg: ”This Japanese Activist Investor Doesn’t Have Time for Your Nice Meetings”

2016-05-10 posted by

Not Maruki. Where persuasion doesn’t work, he turns to techniques that include banding with other investors to oust management and filing lawsuits to overhaul corporate practices in order to boost returns for his 9.7 billion yen ($90 million) fund.

“If one always adopts a friendly engagement style, such as having gentle and warm meetings, would the management really change?” said Maruki, 56, who founded Tokyo-based Strategic Capital Inc. in 2012. “After the meeting, it would probably end at a comment like, ‘They were nice.’”

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Bloomberg: ”The Tokyo Whale Is Quietly Buying Up Huge Stakes in Japan Inc.”

2016-04-27 posted by

“…. Still, the longer the BOJ’s buying persists, the bigger the risk that market prices will detach from fundamentals. Assuming Goldman Sachs’s prediction for more stimulus proves correct, the central bank could end up owning a quarter of Mitsumi Electric Co., a supplier to Apple Inc., and 21 percent of Fast Retailing by the end of 2017, estimates compiled by Bloomberg show.

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”In Shocking Finding, The Bank Of Japan Is Now A Top 10 Holder In 90% Of Japanese Stocks”

2016-04-26 posted by

 

”The latest shocking example of just how intertwined central banks have become in not only Treasury and corporate bond markets and their respective “valuations”, but also in stocks, comes courtesy of the Bank of Japan which days ahead of an announcement which may see it double its ETF purchases from the current JPY3.3 trillion to JPY7 trillion or more (if Goldman is correct) has just been revealed to be a top 10 holder in about 90% of all Japanese stocks!

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Goldman Sachs Asset Mgt. : The Upside of Japan’s Corporate Reforms

2016-04-23 posted by

JAPAN’S VALUATIONS HAVE FALLEN DESPITE STRONG EARNINGS GROWTH

GSAM-Connect-Japan-Equities_r2

Source: Factset, IBES, GS GIR. Data are consensus for calendar years January 1, 2013 to March 22, 2016. Past performance does not guarantee future results, which may vary.

Goldman Sachs Asset Management (GSAM), one of the world’s leading investment managers discusses its constructive view on Japanese equities with Mr. Ichiro Kosuge, the Fundamental Equity Portfolio Manager. Mr. Kosuge highlights the importance of corporate sector reforms to the market’s outlook.

”What is your overall view on Japanese equities?

Ichiro Kosuge: We are constructive on Japanese equities. In addition to the potential for macroeconomic improvement, we believe corporate governance reforms, high cash holdings and attractive valuations could drive equities higher.

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ACGA’s Feedback to FSA on Japan’s Governance Code: Training by Specialist Providers Important

2016-04-08 posted by

”………Experience shows that the implementation and evolution of “comply and explain” can take a long time to develop, but there are opportunities to accelerate this transition. The Follow-up Council may wish to consider how to guide and assist Japanese listed companies and domestic institutional investors to understand and implement good disclosure. For example, the Council could advise the FSA to do the following:

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