6335 Tokyo Kikai Seisakusho (TKS)

Japan Guru
May 10
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.

2 Comments

Japan Guru

Apr 28

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.

Edited

Mark B

Apr 26

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:

[In July 2021], a fund called Asia Investment Fund (along with associate Asia Development Capital Co (9318 JP) which is an affiliate of Sun Hung Kai) announced they had bought 7.91% of TKS as of 13 July (which required them to file a Large Shareholder Report). Unknown to the public at the time of the 20 July report was that they had purchased 6.81% on…