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@JamieHalse "Did Japan just see its first outright hostile bid from a foreign strategic acquiror (at least in living memory please correct me if I am wrong) The M&A market in Japan continues to heat up Taiwanese firm Yageo's hostile bid for Shibaura was one of a multitude of take private deals announced in the last week or so. Many of the targets had activists on the register whose presence likely catalysed the deal process. In the past if a company did not respond to approaches as occurred with Yageo's approaches to Shibaura then the acquiror simply walked away. Now it seems even foreign acquirors are"
@JamieHalse on X 2025-02-06 05:46:12 UTC 4242 followers, 6591 engagements

"Another win for Japan-focused activist 3D Investment Partners with their Sapporo Holdings campaign following on from their success with Fuji Soft. Sapporo is best known as the 4th major player in Japan's alcoholic & non-alcoholic beverages industry after Suntory Asahi and Kirin (Coca-Cola is also big in non-alcoholic but not alcoholic beverages). Less well-known was their huge property portfolio. That was because in the mid/late 2010s they reclassified it from "investment property" - where they had to disclose the market value in the footnotes of the accounts into "operating facilities""
@JamieHalse on X 2025-04-16 01:33:19 UTC 4247 followers, 5389 engagements

"💡 I made the mistakeso you dont have to. One key lesson from my time investing in Japanese equities: never underestimate the value a private equity buyer might see in a Japanese public company. The combination of solid fundamentals activist involvement and a PE exit can drive outstanding returns. I saw this firsthand with Fuji Soft and it taught me a lotespecially about the hidden value thats often only visible to aggressive hands-on owners. Heres the story 👇 In early 2022 I began building a position in Fuji Soft within the Platinum Japan strategies. The IT services sector in Japan benefits"
@JamieHalse on X 2025-07-09 07:36:32 UTC 4248 followers, 8304 engagements

"Yesterday I posted about an investing mistake. Today I am changing things up and talking about an engagement-investing win. In Fuji Soft I was a predominantly passive investor. We shared our opinions with the company on their real estate holdings but did not otherwise suggest major strategy changes instead benefiting from the active engagement of others. With Toyo Seikan we actively and constructively engaged with the company and owned a large position. The stock became the no.1 holding of the Platinum Asset Management Japan strategies and a sizeable position in the flagship Platinum"
@JamieHalse on X 2025-07-10 04:14:13 UTC 4246 followers, 1435 engagements

"I received some interesting advice today from a fellow fund manager who has been on a similar journey building his business. He has found that when communicating with potential investors it is key to spend as much or more time talking about what your strategy / philosophy / process is not vs what it is if you wish to create true understanding. This really resonated with me. In painting colour and definition can be heightened using the technique of Chiaroscuro. The absence of colour in areas creates a contrast effect that causes the key image to appear more prominent. In the tradition of"
@JamieHalse on X 2025-07-24 10:43:00 UTC 4248 followers, XXX engagements

"Incredible news The Nikkei is reporting that Bain Capital will launch a tender offer for Fuji Soft without Board support. To my knowledge this is the first "hostile" tender offer by a private equity sponsor in Japan. That Bain would undertake such a move and that a Japanese bank would finance it is quite extraordinary and a testament to the dramatic change in the Japanese corporate landscape. The situation is very interesting because KKR has already secured XX% of the outstanding enough to block any privatisation by Bain. Bain was willing to continue in the bidding war as it has the support"
@JamieHalse on X 2024-12-18 00:48:26 UTC 4246 followers, 25.6K engagements

"@InvestInJapan Its amazing when you meet a Japanese management team that can tell the story. Such a breath of fresh air GMO Payment Gateway Shift Hennge Unicharm Hoya. There are others but the list is not a long one"
@JamieHalse on X 2025-07-24 10:52:59 UTC 4248 followers, XXX engagements

"@bauhiniacapital I assume Fuji Soft managements upside is more in the post deal equity incentives. Fuji Soft not running a proper process themselves with Bain involved all the way through was definitely suboptimal"
@JamieHalse on X 2025-07-09 08:06:30 UTC 4245 followers, XX engagements

"Have you heard about the Japanese chemicals company with a billion dollar art collection DIC (4631.T) has an activist shareholder on the register. The activist has quite reasonably pointed out that it is probably a misallocation of capital for a chemicals company to operate a museum of art. Especially one that owns works by Pollock Rembrandt Picasso Monet Renoir Rothko and others. As you would expect under JGAAP the works are held at historical cost of $280m but could be worth well over a billion dollars at today's prices. I have included some of the collection in the attached images. Enjoy"
@JamieHalse on X 2024-09-13 03:31:20 UTC 4245 followers, 88K engagements