6335 Tokyo Kikai Seisakusho (TKS)
- May 10, 2025
- 1 min read
TKS is the oldest newspaper rotary press company. Expanding into new fields such as large-scale automated transport machines. Newspapers became major shareholders to prevent a takeover.
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Breaking:
Yesterday on Jan 22, 2026, the appeal court ruling ordering AIF to provide TKS with short-term trading profits of approximately 1.94 billion yen has been finalized, resulting in a complete victory for TKS in all lawsuits and provisional injunctions related to the hostile takeover.
https://x.com/yota1967/status/2014288539857633286?s=20
3 bil yen co standing to benefit 2 bil yen from judgment in court. This is a fascinating story and could've been a great special sit trade had it not been for one factor: defendant AIF / ADC are reported to be connected with suspicious offshore actors. There may be no liquid & traceable asset for TSK to seize in Japan or elsewhere.
Here is a summary translation on this point from Access Journal (Japan's rather famous financial tabloid), dated Aug 2024: ***** We learned that Anthem Wong (39), who was the representative of Asia Development Capital (Minato-ku, Tokyo), a TSE Standard-listed company and the parent company of Asia Investment at the time, had returned to his position as Asia Development’s representative.
Market cap is ¥3,100 million (share price ¥379). The newspapers that became major shareholders would have bought their position at around ¥800 I understand.
Shenanigans and a hidden catalyst
In 2021 Asia Investment Fund (AIF) and Asia Development Capital (ADC) built up a sizable in TKS. I’ll share an extract from this Travis Lundy article: