# tyo — RSS Amplifier Recent posts from the 1 feeds in the RSS Amplifier directory that cover tyo. Page: Feed: --- ## [MegaChips Corp (TYO 6875): Trades at ¥11,250 but Gets You ¥19,842 of After-Tax SiTime (SITM) Value + NCAV and Is Buying Back Stock](https://altaycap.substack.com/p/megachips-corp-tyo-6875-trades-at) _2026-08-16 · AltayCap · Altay Capital - Mostly Value Investing_ The operating business, a fabless semiconductor company that designs and sells custom ASICs, is also capital light and worth something, but we're rounding that down to zero. ## [Two Near Net-Net Japanese Electrical Contractors at ~3.5x EV/EBIT with Industry Tailwinds](https://altaycap.substack.com/p/two-near-net-net-japanese-electrical) _2026-07-01 · AltayCap · Altay Capital - Mostly Value Investing_ Data center tailwinds, the Kodensha comp, and updates on a few old ideas ## [Takasago Tekko (5458): A Profitable ¥3.3bn Nanocap near net-net @ 7.7x ntm P/E With ¥3.8bn of Appraised Rental Real Estate and a 36,009 sqm Tokyo Factory Site Carried at ¥2m (But worth ¥8bn+)](https://altaycap.substack.com/p/takasago-tekko-5458-a-profitable) _2026-05-13 · AltayCap · Altay Capital - Mostly Value Investing_ Factory site located in prime logistics hub where a previous steel site were redeveloped into major logistics project. Land could be worth ¥16bn+. We assume ¥8bn to be conservative. ## [Art Vivant (TYO 7523): Cheap Adjusted Net-Net at 11x PE Trading Below Failed ¥1,670 MBO Price as Activist Builds 40.13% Stake](https://altaycap.substack.com/p/art-vivant-tyo-7523-cheap-adjusted) _2026-04-20 · AltayCap · Altay Capital - Mostly Value Investing_ Trades below the failed MBO price, backed by assets, and now sitting at the center of a quiet control battle. ## [Nanocap Osaka Yuka Industry (4124): A Strategic Buyer Offered ¥3,201. An Activist Paid More to Stop the Deal. The stock trades at ¥2,746](https://altaycap.substack.com/p/nanocap-osaka-yuka-industry-4124) _2026-03-29 · AltayCap · Altay Capital - Mostly Value Investing_ If a $1bn+ company bid ¥3,201/share and an activist got involved to block the deal, it’s probably worth at least ¥3,201/share and possibly much more. This is a tiny $14.4m nanocap. ## [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)](https://altaycap.substack.com/p/nippon-carbon-tyo-5302-a-120-year) _2026-02-12 · AltayCap · Altay Capital - Mostly Value Investing_ 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. ## [Mitani Corporation (TYO: 8066): $1.2 bn Japanese Conglomerate at 2.6× EV/EBIT with 30+ Years of Profitability](https://altaycap.substack.com/p/mitani-corporation-tyo-8066-12-bn) _2026-01-28 · AltayCap · Altay Capital - Mostly Value Investing_ 24% share count reduction since 2014, dividends up over 10×, massive net cash position, and consistently growing net income (8.9x P/E) ## [Unozawa-gumi Iron Works (6396): A Profitable $23m Nanocap at 10x P/E With Real Estate in Tokyo Worth 145,000x Carrying Value (Not a Typo)](https://altaycap.substack.com/p/unozawa-gumi-iron-works-6396-a-profitable) _2025-12-10 · AltayCap · Altay Capital - Mostly Value Investing_ $23 million gets you $132 million in Tokyo real estate, some cash & securities, and a pumps business. Passing of the 86 year old chairman with no obvious succession plans could be a catalyst. ## [Isamu Paint (TYO 4624) - A $43m Double Net Net Automotive Paint Co Trading at 12x P/E with 30 Years of Consistent Profitability](https://altaycap.substack.com/p/isamu-paint-tyo-4624-a-43m-double) _2025-12-04 · AltayCap · Altay Capital - Mostly Value Investing_ In 30 years the company only reported a single QUARTER of operating losses with the full year being firmly profitable. Share price is ¥3,515 vs NCAV+Investments of ¥8,003. ## [Furubayashi Shiko (TYO 3944) - A Deep Value Packaging Nanocap Trading at 9x P/E, 0.27x Book, and Well Below NCAV+Investments](https://altaycap.substack.com/p/furubayashi-shiko-tyo-3944-a-deep) _2025-11-29 · AltayCap · Altay Capital - Mostly Value Investing_ Consistently Profitable but mediocre packaging business backed by under-marked land and a big securities portfolio, offset by an overpaid family chairman. Tiny ($16.4m mcap) and illiquid, but cheap ## [Real SIMs for AI Agents (Sponsored)](https://crawlproof.com/a/3eMszMfwHabz) _2025-11-29 · **Sponsored**_ Pass 2FA and verifications with real carrier numbers via our API. ## [3 Quick Pitches for 3 Deep Value Japanese Stocks: TOC (8841), Sankyo Kasei (8138), and Takase (9087)](https://altaycap.substack.com/p/3-quick-pitches-for-3-deep-value) _2025-08-24 · AltayCap · Altay Capital - Mostly Value Investing_ TOC has tons of real estate, securities, and net cash. Sankyo Kasei is a DOUBLE net-net that repurchased 33% of outstanding shares this year, and Takase is a dirt cheap logistics co. ## [Tokyo Automatic Machinery (TYO 6360) - Deep Value Nanocap with Improving Shareholder Returns, 0.4x P/B, and 7.8x Forward P/E](https://altaycap.substack.com/p/tokyo-automatic-machinery-deep-value) _2025-07-13 · AltayCap · Altay Capital - Mostly Value Investing_ Company is targetting 1x PBR, Committed to 30% Payout ratio (vs 10-15% historically), + upside if the packaging business can expand margins. NCAV+Investments of ¥5,220 vs a share price of ¥2,885. ## [OUG Holdings (TYO 8041) - A 0.5x P/TBV Vertically Integrated Seafood Wholesaler in Osaka Trading at 5 P/E and Improving Shareholder Returns](https://altaycap.substack.com/p/oug-holdings-tyo-8041-a-05x-ptbv) _2025-06-30 · AltayCap · Altay Capital - Mostly Value Investing_ This is a net-net if we count investments as current assets. Company is cheap, implemented a 1.6% DoE policy, and the shareholder register leaves room for activism. ## [Nippon Pigment (TYO 4119) - A Deep Value Pigments Manufacturer Trading at 0.25x Book That Did a Big Acquisition and Immediately Recorded More than its Market Cap in Bargain Purchase Gain](https://altaycap.substack.com/p/nippon-pigment-tyo-4119-a-deep-value) _2025-05-30 · AltayCap · Altay Capital - Mostly Value Investing_ Tiny deep value company buys division from uneconomic seller. Stock is cheap with 3% dividend. ¥3,110 share price vs ¥8,522 of NCAV + Investments. Trades at 5x OP and P/E of 7 (EPS forecast of ¥445) ## [Perk for Paid Subs: Snapshot of Entire Cheap JP Basket (All my writeups / commentary will remain free)](https://altaycap.substack.com/p/perk-for-paid-subs-snapshot-of-entire) _2025-05-12 · AltayCap · Altay Capital - Mostly Value Investing_ I don't intend on ever putting writeups/investment thoughts behind a paywall, but will share semi annual snapshots of the cheap JP basket with paid subs (Without commentary). ## [Kinki Sharyo (TYO 7122) - A ¥10 billion Net Net Rolling Stock Manufacturer Trading at 0.3x Book Value and a 64% Discount to NCAV + Rental Real Estate](https://altaycap.substack.com/p/kinki-sharyo-tyo-7122-a-10-billion) _2025-05-02 · AltayCap · Altay Capital - Mostly Value Investing_ 105 year old company and there's even an activist shareholder in the register (Effissimo Capital). Kinki Sharyo is a listed subsidiary of Kintetsu Group (9041). ## [List of Parent-Child Listings on the Tokyo Stock Exchange](https://altaycap.substack.com/p/list-of-parent-child-listings-on) _2025-04-28 · AltayCap · Altay Capital - Mostly Value Investing_ Table that contains 230 publicly listed companies in Japan that have publicly traded parent companies. Useful for anyone searching for opportunities in parent-child listings. ## [Tigers Polymers (TYO 4231) - Dirt Cheap Consistently Profitable Japanese Net-Net with Negative EV Trading at 0.3x P/TBV, 7.5x P/E, with U.S. Manufacturing](https://altaycap.substack.com/p/tigers-polymers-tyo-4231-dirt-cheap) _2025-04-15 · AltayCap · Altay Capital - Mostly Value Investing_ 71% of profits come from their U.S. business, 22% from Japan, 6% from SEA. (Q1-Q3 FY2025). The company only ever lost money in 1 year since 1985. ## [3 Quick Pitches for 3 Cheap Japanese Stocks: Nippon Shindo (5753), Nakakita Seisakusho (6496), and Wood One (7898)](https://altaycap.substack.com/p/3-quick-pitches-for-3-cheap-japanese) _2025-03-10 · AltayCap · Altay Capital - Mostly Value Investing_ Two deep value net-nets and a company that owns 40,000 hectares of New Zealand forestry ## [Licensed Dispensaries, Pay with Crypto (Sponsored)](https://crawlproof.com/a/3tVqnBNq1WPr) _2025-03-10 · **Sponsored**_ Search verified licensed dispensaries and pay with Bitcoin, Lightning, or stablecoins. ## [Asaka Industrial (TYO 5962): A 350-Year-Old Profitable Nanocap Net-Net Trading at 0.4x P/B, 7x P/E, with Real Estate Worth 260x its Carrying Value](https://altaycap.substack.com/p/asaka-industrial-tyo-5962-a-350-year) _2025-02-19 · AltayCap · Altay Capital - Mostly Value Investing_ This $10m nanocap trades at a 57% discount to NCAV + investments and holds land valued at just $22,500 on its balance sheet, yet it is worth at least $5.7M.