3963 Synchro Food

"AVI, LIM, and VIS together hold appx 45% of the voting power and the three parties can likely pass their shareholder proposals, dismissing an incumbent director and appointing a new one"

https://x.com/26ooo/status/1980599202251173974

LIM & AVI ganging up on the company, with the former calling for extraordinary SH mtg to fire directors and the latter proposing to oust some directors and install new outside directors

https://x.com/makemmd/status/1975512980130578697

*activist Lim to call extraordinary SH mtg of 3963 Synchro Food

"As the de facto CFO who failed in capital policy and promoted overpriced acquisitions, Director and Executive Officer Katsuki Morita should be held accountable for his management responsibilities"

✅Synchro Food (3963 JP, Market Cap: c.USD120mn, PER: 29.3x, PBR: 3.7x, EV/EBITDA: 11.8x, FCF Yield 8.8%, Dividend Yield 2.5%) : Japan’s #1 one-stop-shop platform for restaurant operator benefitting from high restaurant turnovers and labor shortage being engaged by multiple activists.

✅AVI owns c.18% while LIM advisors have another c.14%. The founder has sold down his stake and so, this company is primed for private equity to take over.

✅Full post with other activist ideas: https://8percentpa.substack.com/p/activist-happenings-3

"Regarding Synchro Food, the ownership ratio of foreign shareholders increased by 22 percentage points to 39.8%. Hong Kong-based Rim Advisors and UK-based Asset Value Investors (AVI) increased their stakes for the purpose of "pure investment and important proposal making, etc."

Synchro Food explained that "We have received many questions from overseas investors about capital policy, including dividends." The company has set a mid- to long-term goal of a ROE of 25% or more, with no set deadline. ROE for the fiscal year ending March 2025 was 13.7%."

https://www.nikkei.com/article/DGXZQOUB17BI90X10C25A7000000/