JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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To: borb who wrote (3073)	6/14/2002 5:08:40 PM
From: Crossy	Read Replies (1) of 3902

Borb, you are right. I still love the Nasdaq but when I get similar firms in Japan trading for 20-30% of the US valuation then I shy away from it.. My favourite indicator is PSR .. Price to Sales ratio. On the NAZ PSR > 4 is common. If you get PSR < 1 for a hightech firm with growth prospects then you are really lucky. In Japan there are many such plays out there.. Bought something new also.. Espec Corp .. 6859.J .. PSR 0.50, PBK 0.80 .. around 550 Yen. makes chemotech, biotech, semiconductor equipment and has another great niche in environmental chambers where stress tests are conducted (Telcordia, Semi, Milspecs etc.). Plus they make .. TERRAFORMING EQUIPMENT ! This is really a niche. Forrestation, urbanization, irrigation etc. The desert can be defeated too. Great future for these capabilities. In 2001 it made almost 80 yen per share EPS. This year it will be just 15 yen due to some restructuring to further improve efficiency.. espec.co.jp I also loaded up the boat on ... Unozawa Gumi Iron Works 6397.J . This is a major pump manufacturer. Trades at 97 Yen but thinly. Price/Sales 0.25 Price/Book 1.45. It has major capabilities in high pressure and vacuum pumps including oil free designs. These high tech pumps are important components for semi equip, chemical equip, biotech equp and pharma plant equipment. Instead of last year's marginal loss of 12 Yen per share, in 2002 it had 68 Yen in earnings. This is a PE under 2.... unozawa.co.jp Both stocks are not yet followed by analysts.. Waiting to be discovered... best rgrds CROSSY

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