4 Comments

Good read! I agree with your sentiment that it's cheap and that you don't need to do a DCF. If you have to do a DCF to figure out if it's cheap or not, it's not.

I'm totally ignorant on this space and generally bearish on casinos/gambling (at least in the U.S), but Sankyo is obviously cheap. Is Pachislot taking share from traditional Pachinko and can they compete there as well? Even if earnings do decline from here and that's not a given, it's interesting.

Management forecasts increasing revenue next year +11% which is a positive. Op income set to increase +1.7% too.

This is a bit larger market cap than most of my JP basket, but I love the buybacks. Will likely take a small position here as well.

Expand full comment

Idk about you but I don’t like a company that is buying its own stock while it’s declining. Buying its own stock is equivalent to believing in the long-term future of the business.

Expand full comment

They need to put HoloLive on their machines.

Expand full comment