What are Japanese stocks bought and collected by English funds with a “return of 1900%”? Are there special dividends or stock buyback proposals this year too
This year's by overseas funds that invest in Japanese stocksTrends in proposals at general shareholders' meetingsis attracting attention. Bloomberg on the 14th has accumulated returns of over 1900%UK Asset Management Company「Silchester International Investors” has become an investment destination in Japan in recent yearsSpecial dividendsYaCompany stock buybacksI pointed out that they are starting to ask for it. Silchester was originally an inconspicuous “unspoken shareholder,” but in recent years he has strengthened his activist attitude, such as making shareholder proposals to the Bank of Kyoto and Shiga Kazuko in '22, and Obayashi Corporation in '23.40 billion dollars (approximately 5.9 trillion yen)Silchester, which is said to operateWe hold about 40 Japanese stocks, and there is a possibility that shareholder proposals will be issued again this year。
According to Bloomberg data, the reason why Sylchester holds a lot (recent market value) in Japanese stocks is the most recent dividend yield3.38%and high $Dentsu Group(4324.JP$ that's it. and $Daiwa Securities Group(8601.JP$、 $Nomura Holdings(8604.JP$withMajor securities companycontinues. However, it shows high management efficiency among the top 15 stocksROE (return on equity) is highWhat I can say is $Yamaha Motor(7272.JP$(ROE for the previous period: 18.73%), $Daicel(4202.JP$There are only (14.34%), and most are low ROE stocks in the 2 to 6% range.
As for PBR (stock price net asset ratio), most of the top holdings are divided by 1 times, and market evaluations are below the company's dissolution value. From the group of stocks heldValue investing, which emphasizes a sense of affordability, is the main strategyI can catch a glimpse of that. Steven Butt, who leads Silchester, is a famous investorWarren BuffettBecause he is the mentor of and is called the father of value investingBenjamin GrahamIt has been strongly influenced and is regarded as a long-term investor who inherits the tradition of Mr. Buffett.
The increase in positions since the middle of last year $Dentsu Group(4324.JP$、 $Daiwa Securities Group(8601.JP$、 $DOWA Holdings(5714.JP$(Note 1), $Kyoto Financial Group(5844.JP$、 $Concordia Financial Group(7186.JP$、 $Comsys Holdings(1721.JP$that's it. Recently $DeNA(2432.JP$increased. What is declining $Nomura Holdings(8604.JP$、 $Kinden(1944.JP$、 $Sumitomo Mitsui Trust Holdings(8309.JP$etc.
Note 1: Additional note According to EDINET disclosure on 3/19, DOWA shares dropped from 17.67% to 16.65%.
What is the reason why the stock ownership rate is high $DOWA Holdings(5714.JP$of17.67%、 $Alfresa Holdings(2784.JP$at10.31%It was. DOWA handles refining and processing of non-ferrous metals, and has strengths in recovering precious metals. Magnetic iron powder is top class. Alfresa is the top pharmaceutical wholesaler in Japan.
60% of the stocks that Silchester invests in worldwide are mid-cap stocks. By industry sector, what are the top 2 holdingsFinance and industrySo, what was the biggest increase in 5 yearshealth care sectorthat's it. In terms of holding value (recent market value), the most common is English Tesco, a major supermarket company, followed by the pharmaceutical English Glaxo SmithKline (GSK) and German Bayer.
―MooMoo News Kathy
Source: HP/IR materials from each company, Bloomberg, Moomoo
Source: HP/IR materials from each company, Bloomberg, Moomoo
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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