Ishihara Sangyo (ISK, cap Y105 bn) is a chemical company with two pillars: 1) Organic chemicals: Core products are agrochemicals (herbicides, fungicides, insecticides), with overseas sales ≈80% (FY25), mainly in the Americas and Europe. Growth strategy includes expanding into animal health products and new strategic agrochemicals in emerging markets such as India. Unique global products: Development …
JSB (Japan Student Bureau, CAP: Y81 Bn, PE 14x), #1 student-housing operator founded in 1976, explains that despite Japan’s declining birthrate, the student housing market remains stable due to rising university enrollment and a long-term shift from general rental apartments to purpose-built student housing. JSB operates ~99,300 units nationwide with 18 years of 98%+ occupancy. …
JSB (3480): Defying Demographics – Student Apartments Continue to Grow Nationwide Read More »
Serendip, a business-succession–focused M&A platform, is known for its fully integrated model—dispatching executives and engineers, driving productivity, and maintaining long-term ownership. Despite raising FY3/26 guidance by ¥10B in sales (+25%) and ¥4.5B in OP (+25%) on 11/11/25, the stock fell 18% to a limit-down on 11/14/25. At a retail investor meeting on 11/15/25, CEO Mr. …
Serendip (7318): What Triggered the Limit Down on 11/14/25? Read More »
Katitas has mastered a business model that many find difficult to replicate: buying, renovating, and reselling pre-owned homes with consistent success. With 36% foreign ownership, it’s clear that investors recognize the company’s ability to tackle Japan’s vacant housing problem. The stock trades at a premium P/E of 18x, compared to single-digit averages for other residential …
Katitas 8919: A Best-in-Class Model in a growing industry vs. a high price tag. Read More »
Outside of Electric Cable Japanese electrical wire manufacturers have performed strongly, with Fujikura emerging as the clear leader. Its dominance is well supported by a robust sales network catering to U.S. IT companies, particularly through its advanced optical wiring components. Given the surge in data center construction, demand for high-performance electric wiring remains strong. The …
Founded in 1938, Furuno Electric (cap Y295 Bn) commercialized the world’s first practical fish-finder in 1948. It is now well known for its advanced GNSS (Global Navigation Satellite System) technologies, which are integral to Intelligent Transportation Systems (ITS). Its business spans: Maritime electronics (navigation/radar/sonar / fish-finders) Communications & sensor systems Industrial diversification into GPS/GNSS receiver …
SBS Holdings is an M&A-driven consolidator in Japanese logistics, which is currently in the early stages of industry consolidation. Over 60% of domestic freight is handled by operators with fewer than 50 vehicles*. In 1/25, I wrote a note on Zero, a specialist in used car transportation, in which SBS holds a 20% stake. (*By …
SBS Holdings (2384): The CEO Effect: Leadership as a Stock Growth Catalyst? Read More »
Serendip is a small-cap name, yet its FY3/26 P/E of 9.6x stands in stark contrast to peers like Genda (30x) and Next Gen (68x). This discount suggests the market may be skeptical of Serendip’s ambitious 145% operating profit guidance for FY3/26. The valuation disconnect is puzzling, especially given its EV/EBIT of 29x—nearly on par with …
Serendip Holdings (7318) — Small but very scalable acquirer with 9.6x PE Read More »
AlphaPolis (AP) is a pure user-generated content (UGC) publishing model. Founded in 2000 by Yusuke Kajimoto, formerly of Hakuhodo, AP sources highly rated light novels and manga from its online platform, AlphaPolis: Cyber Space, and selects standout titles for commercial publication. Its flagship series, Gate, has sold over 4.2 million copies. Manga (graphic novels) is …
AlphaPolis 9467: What Asset Management One and Varecs see in this UGC pure play? Read More »
I have always wanted to write about Weathernews (market cap Y102 Bn). But, WN, one of the world’s largest private comprehensive weather information services, has always been expensive. Climate change is increasing the frequency and severity of typhoons, floods, and heatwaves. Both corporations and governments are investing more in disaster prevention and early warning systems. …
Weathernews 4825: Down 10%: Is It Time to Buy? Unpriced Upside? Read More »