- New tire manufacturers (mostly from China) have taken significant market share from the low to mid tier tire markets over the past 10 years.
- Yokohama is expanding into industrial tires, increasing production capacity, and focusing on OE business to fend off the new and strengthening competitors.
- Overall, Yokohama’s financials are healthy and business performance is decent (10-Year average ROE roughly 9%).
- However, shares are not particularly cheap or expensive at today’s 1,974 yen per share price.
- Yokohama will look more interesting at 1,400 yen per share.
Continue reading “5101: Yokohama Rubber Report (Abridged)”
- Seasoned corporate culture and a purely functional product focus has driven rapid growth, both domestically and internationally, for Ryohin.
- Balance sheet is squeaky clean and business performance metrics like ROE remains strong (15% – ish ) compared to peers.
- Exceptional corporate culture, clean balance sheet, and strong business performance is already built into share price – the bet is on continued rapid growth.
Continue reading “7453: Ryohin Keikaku: Exceptionally Simple.”
- JP Holdings operates the largest chain of day care centers in Japan
- Macro tailwinds support further growth of JP Holdings
- Japan’s birthrate problem may be a function of insufficient childcare infrastructure.
Continue reading “2749: JP Holdings Well Positioned For Long-Term Growth”