JAN 27, 2026

There is this niche chemical processing company​ trading at less than 200 million USD market cap, holding 30% of global market share with a pricing power. It is net cash, generates stable cash flows, and its end customers include top global brands.

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The company is so compelling one famous activist regrets not waging a TOB earlier.

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The company just revised its guidance upward on the back of strong AI demand. The company name is Japan Pure Chemical.

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JAN 9, 2026【Exclusive for Premium Members】

Major activists poised to join forces

Niche logistics play with consistent revenue & earning growth at least since 2021

Over 20% held by activists when management & friendly shareholders hold much less

Dividend payout ratio of 40%

In short, this company is in a special situation.

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NOV 30, 2025

8.5 bil yen market cap

PER 5.98x

PBR 0.18x

Dividend 3.16%

Regional banks rocked by aging crises, inflation fury, and rate hikes—top shareholder rides to the rescue

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NOV 16, 2025

23 bil yen market cap

4 bil yen net cash

4th consecutive revenue & net profit growth since 2022

Dividend yield: 5.91%

Orthodox business attuned to consumers' pain points, executed well

 

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NOV 9, 2025 【Exclusive for Premium Members】

Appx 100 bil yen market cap

Appx 50 bil yen in unrealized real estate gain

0.66x PBR​

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The management just revised up its year-end (March 2026) dividend forecast by almost 50% by introducing >3% DOE, on top of its existing >30% dividend payout ratio, to execute "proactive shareholder return responsive to the capital market expectation."

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OCT 25, 2025

5 bil yen market cap vs 6 bil yen net cash

6.36x PER

0.45x PBR​

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In Feb, the company, Sankyo Kasei, cashed out two activists, Black Clover and Swiss Asia, through buyback.  August 21, the founding family office increased its stake from 9.14% to 13.76%.

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Is the management setting the stage for an MBO? At least someone thinks so.

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SEPT 27, 2025

12x PER (NTM) / No debt / 4.21% forward dividend yield / 19 consecutive revenue growth / 7 consecutive dividend hikes / Systemic & regulatory tailwind.  

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Due to the chronic labor shortage, the construction technician staffing market is on an expanding trend.  The number of job openings in the construction and real estate industries, including construction management (sekou-kanri), has roughly tripled compared to five years ago, driven by demand for redevelopment projects and factory construction.  This staffing company is thriving in this environment.

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SEPT 15, 2025【Exclusive for Premium Members】

Technically sound, fundamentally re-emerging. This iconic high-end cosmetics company may have just bottomed. At least one big activist seems to think so.

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AUG 28, 2025

26.8 bil yen mkt cap

24 bil yen net cash

9.6x PER

0.78x PBR

4.19% yield

TSE Prime-listed home/nearshoring & robotics play

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AUG 11, 2025【Exclusive for Premium Members】

Net cash > 1/3 of market cap. Their balance sheet is absorbing $25 to $50M of FCF a year, consistently depressing ROE. Fidelity recently reported 13% stake and they got a shareholder proposal from an activist. Now announcing stock split to do something about their capital structure vulnerability.

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In short, all it takes now to unlock this company is advent of a large & feared activist...like Murakami or Oasis. 

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AUG 9, 2025【Exclusive for Premium Members】

1x EV/EBITDA, 0.44x PBR, 4% yield, dual listing with Toyota (via Toyota's subsidiary "Daihatsu"). Owns some world leading technology. Only 11 bil yen market cap. This is a cheap company left neglected in a plain sight.​

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JUL 26, 2025

Small warehouse company whose unrealized realty gain exceeds 1/2 of market cap

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JUL 16, 2025     
Bought some 6330 Toyo Engineering - a boring business that is hard to stop thinking about​
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JUL 15, 2025     
Is 9229 Sunwels finally seeing the light at the end of the tunnel?  50% owning founder CEO hinted at resignation​
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JUL 7, 2025 【Exclusive for Premium Members】

In short, this company has a market cap < net cash, is run by management increasingly conscious of delivering shareholder returns, and stands to gain from the electrical AI future.  With all the headlines regarding tariff war, look at the stock price movement.  Some value / small cap active managers are accumulating positions. 

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MAY 9, 2025     
Just went all-in on 4761 Sakura KCS

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APR 30, 2025

Will 9036 Tobu Network face a takeover bid?

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FEB 24, 2025

Why Mitsubishi Corp Might Consider Mitsubishi Food a Wholly Owned Subsidiary

(*Editor's note: TOB indeed has occurred subsequently)

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JAN 27, 2025

5 reasons why we might see wild deal over 4676 Fuji TV

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