Monday morning links
Monday morning links
Delta Djakarta, Ryohin Keikaku, Inabata & Co, Haier D-share, Japan's coming tourism boom
Last Wednesday, I published a post about an upcoming tourism boom in Japan. And since that post, the Japanese government has announced that they will ease restrictions further.
Yesterday’s deep-dive was on Indonesia’s second-largest beer producer Delta Djakarta, which sells Anker-, Carlsberg- and San Miguel-branded beer across the country. Compared to the larger competitor Bintang, Anker beers have a stronger taste, are cheaper and also more difficult to find in supermarkets. If tourism to Bali continues to recover, the stock will trade around P/E 9.8x, EV/EBIT 6.2x and a dividend yield of 7.7%.
($ = behind a paywall)
I published a report on Indonesian beer producer Delta Djakarta (DLTA IJ－ US$210 million) ($)
Konichi-Value with a brief introduction to Japanese retailer Muji’s parent company Ryohin Keikaku, whose stock has dropped due to its exposure to the Chinese market (7453 JP－ US$2.5 billion)
Stoic Investor on Japanese trading company Inabata & Co (8098 JP－ US$991 million)
Searching 4 value with a quick note on Chinese state-owner enterprise Haier’s D-share (690D GR－ US$311 million) which I’ve written about in the past here
(estimated reading time)
I wrote a post on how I think Japanese tourism will boom (12 mins)
Japan Economy Watch Substack doesn’t believe Japanese inflation is structural: part 1 & part 2 (9 mins)
Former Central Party School teacher Cai Xia on Xi Jinping (36 mins)
Francis McKenna on PCAOB’s future access to Chinese audit papers (21 mins)
Open Insights on the demand for oil in China (9 mins)
ChinaTalk on the “patriotic boycott” of retailer Miniso in China (6 mins)
Andrew Batson: Xi seems to be more of a strong-state nationalist than a true Maoist (4 mins)
Bridgewater: Equity markets aren’t pricing in the next stage of the tightening cycle (7 mins)
Whitney Baker on the US Dollar (from 13 December 2021) (29 mins)
Vaclav Smil: Rapid decarbonisation is a fantasy (5 mins)
Fraser Institute’s 2022 Economic Freedom of the World report (246 pages)
(listening time)
Zoltan Pozsar & Perry Mehrling debate “Bretton Woods 3.0” (1:18 hours)
Deepak Shenoy provides the bullish case for India (1:02 hours)
Daniel Tabbush on the credit cycles and Asian banks (29 mins)
Tom Orlik on how the Chinese economy is faring (50 mins)
Author Matias Thuen Jørgensen on Chinese outbound tourism (25 mins)
Nomura on Japan’s electricity shortages and more (21 mins)
Anas Alhajji on the crude oil market, from 14” onwards (1:23 hours)
Thank you for reading!
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