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gillem-tulloch
mark-webb
olympus-corporation
smc-corporation
japan
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
1 December, 2023
NEWSLETTER: EVERGRANDE (3333 HK)
Never profitable

Fredrik Oeqvist
Evergrande’s much delayed and recently published 2021 annual report makes clear that it significantly overstated revenue and earnings – most likely for many years. Contrary to what some people think, Evergrande was not so much a victim of tightened liquidity or a COVID-induced property market downturn; its problems were far more fundamental – there were never any profits....
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18 August, 2020
NEWSLETTER: COMING HOME?
Watch out for the privatisation “squeeze out”

Gillem Tulloch
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...
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