Idea: 40% Domestic Share In Automotive Rearview Mirrors – Murakami Kaimeido (TYO: 7292)

Talking Points

  • Self-driving cars and camera systems are a thing now, and camera systems are replacing automotive mirrors.
  • With increased competition, the future is tough but not impossible for Murakami Kaimeido, which holds a 40% domestic and 7% global share in automotive rearview mirrors.
  • Murakami’s business performance and price metrics may paint a compelling picture for some investors.

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6121: Takisawa Machine Tool

Summary

  • Over the past decade, inventory levels have greatly increased, resulting in a drag in capital efficiency.
  • Investing in Takisawa at today’s price entails betting on management to quickly improve operational efficiency while assuming higher capital spending in the automotive industry.
  • Overall, Takisawa is technologically competent, but with a few operational problems. With all the pros and cons in mind, Takisawa Machine Tool is worth considering at 114 Yen per share (vs. today’s 177 yen per share).

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9436: Okinawa Cellular

Summary

  • Okinawa Cellular is not currently a buy, but investors ought to follow share prices periodically for buying opportunities at 2,600 yen per share (vs. current 3,555 yen per share).
  • Regional focus provides Okinawa Cellular with a strong market position in an Okinawan mobile carrier market, which accounts for less than 1% of the Japanese mobile carrier market.
  • Although the company is focused on being nimble and open to moving into industries unrelated to the mobile carrier market, its primary growth area today is in its fiber internet business.

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Tech In Japan: Stop And Smell The (Virtual) Roses

Summary

  • Virtual Reality (VR) is extending beyond visual and audio.
  • Video game industry development of smell VR might benefit from commercialization in physical retail and e-commerce.
  • There are a couple of investable companies with smell VR technology that should be followed.

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The Opportunity in Japan

At this point exploring our site you’ve probably seen a lot of nice verbose rhetoric with plenty of adjectives describing how attractive we think Japanese stocks are.  If you are as skeptical as I am though, you’d think that’s a load of BS until we substantiate it with some data and logical arguments.

We did introduce an argument in our first article and About page where we said there is no natural buyer for Japanese stocks, but until now, that’s been about it.  Not very compelling.  This article will attempt to introduce the case for Japan.

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