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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (42077)	4/1/2011 2:46:16 AM
From: Spekulatius	1 Recommendation Read Replies (3) of 78555

6365.T DMW Corporation. Japanese microcap. Almost a net net (counting in receivables). I also found a good way to gather information on Japanese stocks - using the Japanese moneycentral. If you copy the below link into the Google Chrome browser and allow auto-translate, it will come up with company info and financials going back 10 years: jp.moneycentral.msn.com In the case of DWS - this outfit trades at roughly 1/2 tangible book and less than 8x trailing earnings. FWD earnings are however much lower, estimates are for 70Yen/share, which would be a PE of 21. Revenues are projected to be down by 15%. It may come out a bit better because my experience is that Japanese 1 year forecasts are very conservative the 5 year forecasts tend to be aggressive. DMW' business is pumps - large pumps. The clownbuck logic behind the buy is : Tsunami--> lot's of water= need pumps (Again use Google Chrome and "autotranslate" for legit results:) dmw.co.jp This is truly a microcap with only 85M$ in market cap. My bet is that the business will recover (it's mostly late cycle stuff) because the producs they build is needed; Pumps for oil and gas industry, water & sewer systems, utilities and the like. My guess is that there is only a handful of competitors building such huge blowers and pumps in the world. DMW, despite being small does seem to do a decent amount of export business based on the client list: dmw.co.jp

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