Having explained how I navigated the Japanese market in
Part 3, in this last post of the series, I would be sharing 2 Japanese companies I found and invested in. For the following companies, I would just be writing a short summary of the investment thesis.
Co-Cos Nobuoka (3599.JP):
Est. in 1948, Co-Cos Nobuoka is a manufacturer of work clothing, operating mainly in Hiroshima. Recently, it has been expanding into sports wear, dress shirts and other forms of apparels, however, uniforms for corporate clients accounts for the bulk of the revenue. Their production line have been shifting towards Indochina including Vietnam.
- Increasing Cash & Cash Equivalents
- Increasing NAV
- Total Debt to Equity within acceptable levels of approximately 15%
- Pays dividends
- Constant buy-back of shares
- Constantly reducing debt levels
When discovered, Co-Cos Nobuoka was trading at ¥586, translating to a discount of 43.5% to NCAV, with a Price-to-Book ratio of 0.......
