Positive Softbank comment in Barrons 6/19 "Value in Japan" interview with Robert Howe, president & investment chief of AIMIC Investment Management (which is a $1/2 billion Japan equities joint venture between US insurance giant AIG and Mitsubishi Trust) and Simon Ross, who runs the j.v.'s Japan Capitalist Fund:
"...bloodletting is quality names is mostly over..."
"The recent 'Net selloff in Japan was healthy, as it has been in the US and Europe. Of course, the disappointment at Hikari Tsushin pulled down a lot of good business models with it, but this has presented buying opportunities. I would expect Softbank stock to start moving back up to discount its strengthing position in the Internet venture-capital business sometime in late summer and early fall as stale bulls get shaken out of the stock. It's a consolidation beneficiary in its industry and gets to "make" the prices on its investments now."
Further along in the interview, this added re Shohkoh Fund: "Like Softbank, (it) has a chance at being the consolidator of an industry that will remain healthy in Japan. It could turnout to be a big turnaround opportunity that surprises most investors"
(Other 'picks' named are NEC, Nintendo, Air Water, Tostem, Sony, Takefugi, NTT and Murata Mfg. Also likes Orix and 7-Eleven Japan.)
Have a good vacation, Jay! (Maybe summer will be better than you think...)
Becky B. |
