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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: borb who wrote (3435)	8/21/2003 1:00:54 PM
From: Crossy	Respond to of 3902

Borb, well it's what I honestly think about the Japanese economy - provided we are going to see a 4th quarter of economic expansion. If yes, I think my prognosis will certainly hold.. rgrds CROSSY

To: borb who wrote (3435)	8/26/2003 12:32:33 PM
From: Crossy	Respond to of 3902

re: 2551.J - 521 Yen - MarusanAI - www.marusanai.co.jp - Maker of Soy beverages and products Profile: marusanai.co.jp Financial History : marusanai.co.jp Recently the company's stock broke upward it's longterm key resistance area of 460 Yen and since that level (Mid July) it moved steadily into yet uncharted all-time high territory : bigcharts.marketwatch.com Now the company is earning around 30 Yen per year, but extra contributions could be envisaged on 2 fronts: (1) US joint venture (Marusan holds a 33% stake here) - American Soy Products - www.americansoy.com is one of the biggest NorthAm Soy producers and processors recently contemplated offering it's services to 3rd parties for co-packing agreements. It's asepctic processing technology was introduced into the US by Marusan in the end of the 1980ies and can only be described as technically excellent and state of the art. Recent popularity of weight gain formulations centered around soybean products (soy drinks etc..) introduced by Medifast (MED), Usana (USNA) and others could lead to surging demand for soybean processing and drink bottling technology and services. Marusan is a key beneficiary of this trend. (2) Marusan not only has it's 33% stake in americansoy, they are also a BIG TIME IMPORTER of soybeans from the internationally largest growing area - North America ! Any appreciation in the Yen should lead to increased margin for it's japanese operation. By exporting technology to implement a joint venture in the US but producing for the local market, Marusan is a benefactor of a strong yen. It could be regarded as a "Domestic Demand" stock. Valuation is still not extraordinary for it'S peer group - it's still around PSR of between 0,25 and 0,30 (Price/Sales). As soon as they move to a major exchange from their current Nagoya (and Berlin/Germany !) listing I predict widely increased coverage. An analyst from UFJ Bank recently issued a mid to longterm target north of 1000 Yen in a non-hostile market environment which is exactly what we are experiencing in Tokyo at the moment.. --------------- In addition to Marusan I bought Asahi Softdrinks (2598.J) recently, aroun 490 Yen now. Softdrink "arm" of Asahi Breweries.. Value stock - Price/Sales 0,16, turnaround story - completed this year - 20 Yen estimate for FY2003 earnings - expansion in Asia announced recently, domestically coffee drink demand surge due to cold weather.. rgrds CROSSY