Nippon Carbon (TYO 5302): A 120 Year Old $350 Million Japanese Carbon Manufacturer Trading at 1x Book, Net Cash, and 4.2% Dividend with a Growing Aerospace Materials Division (JV with GE / Safran)

A quietly ambitious company pivoting the core toward growth industries while building aerospace materials with GE/Safran. They also announced a 5.7% share buyback today, the first in over a decade.