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

To: Spekulatius who wrote (43672)	8/3/2011 1:25:48 AM
From: Spekulatius	Read Replies (2) \| Respond to of 78702

NOF Corp had it day in the sun today - gaping up because of what I believe was a good earnings report. Out at 378Yen. I am really getting the hang of these japanese value traps <g>. My plan is to shift the focus to Europe. ML.PA (Michelin) is the target. I am having a bid out for some shares around 53.5 Euro. The tires are on fire <g>. As a longer term investment - 4091.T Taiyo Nippon Sanso looks good. it appears to be the leading industrial gas supplier in Japan. Industrial gas is a great business and many new technologies need technical gases in one way or another (Computer chips, solar cells, diodes , medical). it's a great way to benefit from LT technology growth without incurring technology risk. 4091 does not look cheap on the surface (this year, they incurred specuial charges due to earthquake damage) but based on next years forecast, the PE ratio is ~12X and EV/EBITDA (current year) is around 6.8. This is quite a bit cheaper than peers Air Liquide, Airgas, Praxair or Linde. I am looking for a buying below 600Yen. moneycentral.msn.com