Stock Focus : Daiun 大運

 

As can be inferred from the above snapshots from '89, '98, '08 & '23, earnings have improved significantly over the past 3 decades, with capital adequacy increasing from 32% in '98 to 64% now, while dividends, which were absent for a long spell, were revived from 2006-2009, re-resumed in 2017 and, with the exception of 2020, remained around the ¥3 to ¥13 level. Next year's dividend, at ¥15,will equal the highest seen in 2007, translating to a yield of 3.2% as full-year EPS is projected to hit a record [& 3-year] high even as the price is languishing at a -93% discount from records seen in 1986. 2025 happens to be the 80th Anniversary of the Mitsui OSK-affiliated company's founding.

Share buybacks & business association holdings have amazingly corraled over 45.3% of Daiun's small issued float of  6.228 million shares [ up from 35.3% in Mar '23 & just 4.5% in Nov '07 ] while parties holding 4.32% have increased their holdings slightly in the last few months. I almost bought this stock twice, once when it was pushing up close to ¥500 in November '24 & before that, when I was brand new to the Tokyo mart in 2017, when the price was hovering around the current level, revenue was 25% lower, EPS was 18% less, book value was about half, total assets were ¥900 million less & dividend quantum a third less than next year's payout. ROE is at 7.57% [3.5% in '08], about the same as it was 8 years ago & also in 2023 but down 1% from last year while free cash flow has been positive for the last 3 years, accompanied by a +ve operating cashflow of  ¥216 million this year.

The former Kobe & now mainly Osaka port logistics handler could benefit from a revival of export trade post-tariffs as customers like Panasonic & SCREEN ship more inventory overseas on the back of the cheap yen.

Beyond 5 Years : CIMB, Tokyo Kikai東京機械製作所, DRB-Hicom, Betamek & KL Kepong Conquer the 2nd week of December! {8-12th Dec '25}

 

Stock Focus : Tobu Railway 東武鉄道 , Tokyu 東急, Keio 京王電鉄, Odakyu 小田急電鉄 & Hankyu Hanshin 阪急阪神 in '76-'77

 

Comparing current book value & EPS to corresponding figures back then, Odakyu has a fair value of between  ¥2,330.8 and  ¥5,070  respectively while Hankyu Hanshin has a theoretical range of between ¥11,660 &  ¥20,128 based on the same metrics!

Beyond 5 Years : Nestlé, Tenaga Nasional, CIMB Tag Team Mon-Wed before a Japanese duo take over the 1st week of December! {1-5th Dec '25}

 

3-month-ago purchase Takagi Seikoタカギセイコー thus becomes the record-trashing 42nd / 109th 🎌 conquest in '25 / since '17, on the same day I attend my unprecedented 100th shareholder meeting in the form of  Berjaya Sports Toto!

Main investment idea for Dec:

Japanese dividends awaited : Sansha, Koito, Sakai Heavy, Takagi, NipponFelt, Shikibo, Sawafuji, Komai Haltec, Origin

Highest probabilities for the rest of the year:

Kagome < 2,650

RhoneMa < 67c

CDB < 3.28

JTiasa < 1.04

Tobu < 2,502

UEMS < 0.555

NipponPaint < 988.9

Milbon < 2,419

MahSing < 99c

Heiwa < 1,950

SPSetia < 80c

Unicharm <888.5

MRCB <38c

L&G <15c

Nissha < 1,178

KAO < 6,189

Ricoh <1,348

GungHo < 2,389

HabaLabs <1,613

Denso <1,988

HankyuHanshin < 3,748

Kintetsu < 2,733

Tokyu < 1,688

OisixRa < 1,333

Odakyu < 1,589

KobeRailway <2,338

HeiwaRE < 2,1380

Fujifilm <3,150

Beyond 5 Years : YTL & Tenaga Nasional Tag Team to bring the Streak to the end of November! {27-28th Nov '25}

 

This despite the raging bear market that has sent the KL Composite Index to below 1,600 points in the midst of the traditional year-end rally season! 

YTL Corporation is completely jettisoned from my ownership for the first time in a decade, with only unlisted warrants entitling me to subscribe for 52 shares, while Tenaga Nasional electrifies the record run to an unprecedented 64 full months & I look to carrying the miracle into its 65th month to bury the 'curse' of the last record streak which ended exactly 7 years ago, on 11/28/18!

Streak extending ideas: JTiasa, Rhonema, Insas, Hexza, PChem[<3], WTHorse, CDB, FPI, PohKong, Penergy @ 55c, Sansha, UEMS, Dayang, MahSing, SPSetia,VS, MRCB[37-38c], Nippon Filcon, Aigan, DiNikko, Ohara, Fumakilla, ShowaChem, Nitto Seimo, WCT, PetGas[16.8-17.0], PetDag[18-18.30]

Beyond 5 Years : M'sia Smelting Corp Returns after 34 months to Mine another Record while Nestlé Attains a Perfect 10 Rounds ! {25-26th Nov '25}

 

The world's largest tin smelter M'sia Smelting Corp digs deep & unearths a record with a disposal at the day's HI, after a 34-month absence & previous contributions in '13, '14, '18,'20 & '23, extending the marathon's lifeline against gargantuan odds once again! Nestlé is meanwhile scheduled to be sold a TENTH time on the 26th to forge another record in the ongoing marathon of financial freedom...

 

Beyond 5 Years : #22 Teo Guan Lee delivers 11 months apart by re-EXITing ! {24th Nov '25}

 

Today, I celebrate 1,323 days in the current record with a re-EXIT from #22 Teo Guan Lee, a big scorer & dividend earner from 2021!Points-wise, a record high of 1,428 points is attained, 18% higher than the old record at the end of last year & 142% higher than the 4-year-old peak of 591 points during the 2017-2018 run ! 

 

Beyond 5 Years : #101 Rohas Technic saves the Marathon by another Hair's breadth ! {21st Nov '25}

 

It improves on its previous 2-day spaced 'contra' contribution by delivering in 88 minutes on its 2nd run via a rare day trade spurred by great results, thus gunning down 1,322 market days in a row! It'll be quite a challenge to keep the streak alive till the end of 2025 amid extreme bearishness but with the encouragement of these magical continuations pulled out of a hat, it's do-able !

Streak continuation candidates: ST: GCB, PohKong, Tadano, Seiko Epson, Ricoh,PTaras[ 1.51-52]; YSPSah[2.10-2.11], Takaful [3-3.10]; MT: Danco [36-39c], RhoneMa[62-66c], GDex, CJCen, Menang, ChooBee,CDB[3.15-3.33],AHB, Bonia[<84c], Mercury[71c]; LT: AnnJoo[56-60c],YXPM[21.5c], MBL[<34c]