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JINS (cap Y153 Bn) which I flagged on 4/5/26 announced its 1H results on 4/10/26. The results came in below the October forecast: Net sales (-2.4%), operating profit (-4.4%), ordinary profit (-3.9%), and net profit (-5.5%). Main reason: Weaker‑than‑expected performance in the domestic eyewear business, where certain products missed sales targets. Overseas operations, however, outperformed—China …

JINS (3046): Below guidance 1H FY8/26 results, but the stock is limit up (+18%). Read More »

Furuno is one of my shipbuilder picks, first reported on 10/31/25 and updated on 4/5/26. FY2/26 results: Revenue of ¥140.6 bn (+10.8% YoY) and operating profit of ¥16.246 bn (+23.3% YoY), supported by strong demand for new‑build vessel installations and solid replacement and maintenance activity for existing ships. The company raised its annual dividend by ¥10 to …

Furuno Electric (6814): Up 13% after reporting FY02/2026 results: Read More »

During my time in Japan, I managed to step on my glasses—so I had no choice but to get a new pair. I took it as a chance to try out JINS’ service. I had previously written about Japan Eyewear Holdings (JEH) back in 1/25 (note attached), which targets a more premium segment. You’ve probably …

Jins Holdings (3046): An anecdotal note for consideration Read More »

Shipbuilding and Maritime Infrastructure have emerged as a high-conviction thematic play. Driven by a historic shift in U.S. industrial policy and a massive “All-Japan” consolidation effort, the sector is transitioning from a cyclical laggard to a strategic growth industry powered by AI and green energy. 1.A primary catalyst for the sector is the aggressive revitalization …

Furuno Electric (6814): A quick update on this ship-building play (Cap: Y212 Bn, PE 14x, EV/EBITDA 10x for E ROE 19%) Read More »

A quick note on this relatively small ¥36 bn agri machinery company: it trades at just 0.48x P/B despite forecasting 42% operating profit growth for FY12/26—figures that were already in place before the recent developments that prompted me to write this brief update for my clients. For some investors, the size alone may keep it off …

Iseki&Co (6310) Op up 42% + survivor merit Read More »

Torishima Pump (6363) — Water Scarcity as a New Secular Tailwind Japan is entering a phase of structural water stress, with major rivers running low, dams hitting 0% capacity, and water restrictions now active across 15 river systems. The root cause—historic low rainfall and persistent weather anomalies—suggests shortages will persist. Policymakers are accelerating investment in …

Torishima Pump (6363) — Water Scarcity as a New Secular Tailwind Read More »

The data is telling: out of 1,551 Prime-listed companies, 497 play it by the book with quarterly briefings. Meanwhile, 74 Prime companies and nearly half of the Standard Market (759 firms) held no briefings at all last year. Predictably, the giants—those with market caps over 1 trillion yen—all hosted sessions, while 890 smaller firms (under …

Beyond the Briefing: Finding Value or Not Read More »

NS Group (Cap: Y86 Bn) is a rent guarantor that went public on December 16, 2025, on the TSE Prime market. It features an attractive financial profile, with 53% of recurring revenues, a high EBITDA margin of 44%, and a strong ROE of 27%. I see many long-term investment merits in NS, but there are …

NS group (471A): Steady EBITDA Growth and Expanding TAM at 9.2x P/E Read More »

While interest in the JPX Startup Growth 100 Index launch seems muted, I’d like to highlight AlphaPolis (cap ¥42bn; FY3/27 PE 14.4x; PB 2.79x)—a constituent well aligned with the index’s focus on high-momentum, high-growth names. The stock has been broadly flat since my October 2025 note, but trading activity has strengthened following the February 13 …

AlphaPolis (9467 JP): Inclusion in the JPX Startup Growth 100 Index with Limited Oil and Inflation Exposure Read More »

Feed One (2060) Most investors ignore Japan’s feed industry. It’s seen as low-margin, commodity-exposed, and structurally stagnant. Yet one overlooked company — Feed One Co., Ltd. — has quietly delivered +56% over the past year, beating the TOPIX. Why? Because the real story isn’t commodity prices. It’s science, capital discipline, and misunderstood risk management. In …

Feed One (2060) – ok to be ignored? Read More »