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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (29427)	12/27/2007 12:05:52 PM
From: Spekulatius	Read Replies (3) \| Respond to of 78711

Jurgis, i do not see a lot of leverage with RICOH. Their equity is 48% of their balance sheet, they have decent FCF, revenue growth, liquid assets are 10% of the balance sheet and debt looks fairly low for a Japanese company. With Japanese, quity tends to lower which is no surprise since the interest rates are close to zero. CAJ forward PE is 13. this combined with a stellar balance sheet and stock buybacks is cheap when compared to historical valuations for CAJ. My source is simply the TSE website to begin with and then i look at the company websites themselves. You will see that SSUMY and ITOCY have had a remarkable increase in profits during the last 5 years. I do not care too much about published US figures. Being brought up elsewhere I am just fine with foreign accounting, in fact i think i prefer the lowballing approach of the Japanese to the sometimes aggressive accounting of US companies. As far as cheap US manufacturing is concerned, i wonder what the values are that you are seeing. Not much around for PE <15 except for microcaps, or very cyclical industries as far as i can tell. The values in the US appear to be in the financial sector where I am treading very careful right now.