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

To: Spekulatius who wrote (42671)	5/21/2011 2:15:37 AM
From: Spekulatius	Respond to of 78702

re Nippon Soda, japanese small caps: There is an excellent report from CSFB (February 2011) about Japanese small caps in general. Amongst many others, they have and outperform rating on Nippon Soda. This was with the stock at 430 Yen/share. Obviously much has happened since February 2011. Now Nippon Soda is quoted at 317 Yen/share. doc.research-and-analytics.csfb.com See Page 53-55 for the Nippon Soda analysis. It is interesting that this report mentions management buyouts as a catalyst. obviously those are happening. the report also states that value investing (low P/B , low PE) has generated outsized returns. Works for me :-).

To: Spekulatius who wrote (42671)	5/21/2011 5:09:49 PM
From: El Canadiense	Read Replies (1) \| Respond to of 78702

Nippon Soda 4041 @315Yen (Japan). Where do you see a 2012 FY forecast of 41Y? To my understanding after looking it up, 40.76 Y was forecasted for FY2011 on 3rd Quarter report, but then they came short (actual FY2011 earnings of 36.48). Credit Suisse seems to be betting on FY2012 earnings of 54.6 Y/share, but I have not seen a forecast from the company itself.

To: Spekulatius who wrote (42671)	8/1/2011 8:35:37 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78702

re Nippon Soda 4041.T. Sold my position today at 386 Yen. This worked out OK after a rough patch. I continue to hold NOF Corporation 4403.T. The good performance of Japanese stocks surprises me. I believe it is in large part because the dire predictions that the Japanese would falter after the tsunami and the following nuclear disaster did not happen. in fact the WSJ had an article that stated that Tokyo survived the summer without any brownouts to to a colossal effort of the population and the companies hat reduced energy consumption by 23% YoY, more than enough to compensate for the loss of nuclear power. I am having some bids out for other Japanese stocks but right now it does not seem like anything will hit my price targets.