Hoden Seimitsui Kako Kenkyusho (“HSK”) (6469) – A short note on Mitsubishi Heavy Alternative.

This note is briefer than my typical institutional reports. While HSK remains a bit small for many clients, I wanted to flag it now because I see meaningful room for growth. To gain exposure to Japan’s defense, shipping, and nuclear sectors, Mitsubishi Heavy Industries (MHI) is the natural first thought. It’s the industry heavyweight, and …

Hoden Seimitsui Kako Kenkyusho (“HSK”) (6469) – A short note on Mitsubishi Heavy Alternative. Read More »

Yurtec Corp (1934): Post FY3/26 results: -2.7% vs. Kandenko’s +13.6%. What drove this gap?

Both companies reported the FY3/26 on 4/28. Yurtec FY3/26 results: ·      Net sales came to ¥252.3 billion, a ¥4.9 billion decline (‑1.9%) due to slower‑than‑expected progress on large‑scale projects and delays in securing major orders at overseas subsidiaries. ·      But the better project productivity led to ordinary profit of ¥18.9 Bn (+9.2% y/y). ·      While the company’s ordinary profit for …

Yurtec Corp (1934): Post FY3/26 results: -2.7% vs. Kandenko’s +13.6%. What drove this gap? Read More »

Tosei Corp. (8923): Reuse theme + The P/E Re-Rating Play: Scalable Mid-Cap Real Estate & Value-Add Growth

Reuse‑oriented stocks have been outperforming across categories—from used cars (IDOM) to pre‑owned jewelry and consumer goods (Book Off). In an inflationary environment, it makes sense: consumers are prioritizing value and shifting toward high‑quality secondhand options. Pre‑owned housing fits the same pattern. I continue to like the preoccupied‑housing names and highlighted Katitas (8919) in my 11/25 …

Tosei Corp. (8923): Reuse theme + The P/E Re-Rating Play: Scalable Mid-Cap Real Estate & Value-Add Growth Read More »

Meeq (332A): Micro physical AI stock + constant margin increase + solid BS, post 5/13/26 earnings releases.

Part of my differentiated edge stems from my network of Japanese retail investors, who provide continuous, ground‑level feedback on the names they trade. These stocks often perform strongly, but because many have a market cap of sub‑¥10–20bn, I have not included them in my formal coverage. Given the breadth of attractive opportunities in this segment, …

Meeq (332A): Micro physical AI stock + constant margin increase + solid BS, post 5/13/26 earnings releases. Read More »

A potential additional positive catalyst for Japan’s defense stocks

“Eastward bound: Largest-ever NATO envoy delegation to visit Japan” (Japan Times, April 12, 2026) reported that approximately 30 NATO ambassadors visited Japan for a historic three-day mission—the largest high-level delegation from NATO member states ever to visit the country. Although Japan is already one of NATO’s closest nonmember partners, the scale of this visit is …

A potential additional positive catalyst for Japan’s defense stocks Read More »

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

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 Electric (6814): Up 13% after reporting FY02/2026 results:

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 »