Thank you. Lots of coulds and ifs as well as some data cherry picking. Although, I do agree that it could very much impact the construction segment in the long term (despite the article's subtitle haha) if they don't diversify away from just condos
Hey. Honestly I'm not familiar with the name. Based on the numbers, it seems interesting but more expensive, both on an earnings basis and in terms of book/NCAV. What do you estimate the dividend to be at a 40% payout?
50-60 JPY per share or about 4% dividend yield on current price.
I agree Nisshin is cheaper based on book value but on earnings I'm not so sure.
Canare has some tailwinds and is growing revenue and earnings, while Nisshin seems in a worse business (real estate) with some clear headwinds as you have described.
Good write up on a very cheap name! Also long :)
Appreciate it!
Really enjoyed this one - thanks
Thanks Michael! Means a lot coming from you
Good article, I like the focus on things that matter. Where do you access japanese companies' filings / annual reports translated to English?
https://www.onlinedoctranslator.com/en/translationform
Very well written. Great spot on the change in Corporate Governance. Thanks for sharing the idea mate.
Thanks! Appreciate you
How much room does the Japanese RE sector have to grow? There is a large excess supply of homes in Japan already, and the population is shrinking.
Hey, can you send me data on excess supply that you're referring to
https://asia.nikkei.com/Spotlight/Datawatch/More-empty-homes-Japan-s-housing-glut-to-hit-10m-in-2023#:~:text=TOKYO%20%2D%2D%20Japan%20will%20likely,topped%208.49%20million%20in%202018.
This article is also interesting https://tokyoportfolio.com/tokyo-metropolitan-areas-apartment-market-trends-april-2023/
Thank you. Lots of coulds and ifs as well as some data cherry picking. Although, I do agree that it could very much impact the construction segment in the long term (despite the article's subtitle haha) if they don't diversify away from just condos
Similar situation with 5819 (Canare Electric), just announced a 40% payout target (+upward earnings revision). What do you think of this one?
Hey. Honestly I'm not familiar with the name. Based on the numbers, it seems interesting but more expensive, both on an earnings basis and in terms of book/NCAV. What do you estimate the dividend to be at a 40% payout?
50-60 JPY per share or about 4% dividend yield on current price.
I agree Nisshin is cheaper based on book value but on earnings I'm not so sure.
Canare has some tailwinds and is growing revenue and earnings, while Nisshin seems in a worse business (real estate) with some clear headwinds as you have described.
Thanks. If it's growing I'll take a look
Did they publish any plan/intensions to enhance shareholders value?