7 October, 2020

JAPAN'S TOP 30

Assessing the accounting risk

Gillem Tulloch

nigel-stevenson gillem-tulloch mark-webb olympus smc-corporation keyence itochu-corporation softbank-group-corp m3-inc hitachi nidec-corporation fujitsu nexon takeda-pharma toyota-motor astellas-pharma daiichi-sankyo daikin-industries fanuc honda-motor murata-manufacturing nintendo nippon-paint nippon-telephone-and-telegraph ntt ntt-docomo docomo chugai-pharma hoya-corp kao-corp kddi-corp oracle-corp-japan recruit-holding shin-etsu-chemical tokyo-electron top-30

Insights

18 August, 2020

NEWSLETTER: COMING HOME?

Watch out for the privatisation “squeeze out”

The proposed Holding Foreign Companies Accountable Act could force hundreds of Chinese companies listed on US exchanges to delist over the next few years. For many large companies, seeking a secondary listing in Hong Kong or the mainland is a sensible insurance policy. However, investors should be wary of companies which decide to privatise and then relist. Our analysis of...

12 August, 2020

NEWSLETTER: TECHNOLOGY ONE

Growth illusion

Nigel Stevenson

Technology One’s growth in the last couple of years appears to be an illusion. It has used various accounting tricks to pull forward revenue and profits, artificially creating growth and hiding a major slowdown. New rules on revenue recognition in FY19 have left a big hole in TNE’s profits, which it filled by starting to capitalise development costs, having previously...