5194 Sagami
- Japan Guru
- Dec 7, 2025
- 1 min read
A major condom manufacturer, with production in Malaysia. Exported to China, Southeast Asia, etc. Sagami also produces film for office use and food packaging.
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https://x.com/makemmd/status/1995509249401917447?s=20
registry as of Sept 30, 2025
The condom maker Sagami Rubber, a key investment target for the activist firm Oasis Management, is pretty fascinating. It's trading at a P/B ratio of 0.9x, with Oasis holding a 9.77% stake and Briarwood owning 12.57%.
In the recent major board overhaul, Mr. Tamagami (whom Oasis had previously nominated to the pharmacy chain Tsuruha Holdings) was appointed as an external director. Meanwhile, the founding family's president and chairman both squeaked through re-election with just 57% approval—barely clinging to their seats by the skin of their teeth. The dynamics here mirror Oasis's activism push at Fujitec.
https://x.com/makemmd/status/1950510072142217275?s=20
at 774 yen/share, 8.5 bil yen mkt cap vs net zero debt
168x per / 0.8x pbr / 1.29%