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6349 JP - Komori Corporation


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Here is an interesting idea and reminiscent of 1932-37 values.  Not much of a thesis here except that it is very cheap.  However, such macro themes of a weakening Yen or a more robust global economy would surely help.  Just the basics:

 

Adjusted Tangible Equity: 1,490¥

Current Cash Position: 750¥

1932-36 Style Price: 505¥

Yields: 3.8%

 

The company produces industrial printers that are in a sector decline with the proliferation of digital.  However, advertisers still need to promote their products some way and digital is not the end all method.  Anyway, a case of an equity that is currently better off liquidating but we know this will not happen in Japan.  Irrespective, the company has bought shares back in the past and may increase the dividend a little more next year.

 

 

Cheers

JEast

 

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