> ## Content Index > Fetch the complete content index at: https://www.asiancenturystocks.com/llms.txt > Use this file to discover other available public pages before exploring further. # This Week in Asia #38 - URL: https://www.asiancenturystocks.com/this-week-in-asia-38-2/ - Published: 2026-08-11T06:56:04.000Z - Updated: 2026-08-11T06:56:33.000Z - Description: Nintendo, Seria, Integral - Author: Michael Fritzell - Tags: Weekly Last week, Asian semiconductor stocks came under pressure due to reports that Nvidia might [reduce the memory content](https://finance.yahoo.com/technology/ai/articles/nvda-reportedly-weighs-lower-memory-182131317.html?ref=asiancenturystocks.com) in its next-generation GPU. In other news, the US Senate passed a bill imposing [100% tariffs](https://timesofindia.indiatimes.com/business/india-business/100-tariffs-on-india-soon-us-senate-clears-russia-sanctions-bill-10-things-to-know/articleshow/133046387.cms?ref=asiancenturystocks.com) on countries buying Russian energy, including India and China. And finally, Chinese low-cost retailer Shein has now begun premarketing for its [Hong Kong IPO](https://www.bloomberg.com/news/articles/2026-08-05/shein-is-said-to-plan-gauging-investor-demand-for-hong-kong-ipo?cmpid=080526%5Fmorningapac&utm%5Fcampaign=morningapac&utm%5Fmedium=email&utm%5Fsource=newsletter&utm%5Fterm=260805&utm%5Fcontent=7394). In today's email: - Watchlist update - Worth your time - Integral *This is another *free-to-read edition* of* [*Asian Century Stocks*](https://www.asiancenturystocks.com/) *– a newsletter about Asian value stocks. New to the publication? Sign up* [*here*](https://www.asiancenturystocks.com/#/portal/signup/free)*. If you don't want to receive these free weekly updates, you can adjust your e-mail preferences* [*here*](https://www.asiancenturystocks.com/#/portal/account/newsletters)*.* --- ## Watchlist update ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-21.png) Watchlist top and worst performers. Source: Koyfin - [**InBody**](https://finance.yahoo.com/quote/041830.KQ/?ref=asiancenturystocks.com) rallied by over 50% after Korean brokers pushed the stock as a GLP-1 beneficiary. InBody's last result was strong, with a 2026 forecast of +23% revenue growth and +43% EBITDA growth. - Second-hand goods trading platform [**Mercari**](https://www.asiancenturystocks.com/mercari-4385-jp/)'s FY2026 result surprised to the upside, with top-line growth of +19% and operating profit growth of +58%. It also announced the first share buyback since its 2018 listing. The beat was driven by a greater number of cross-border transactions, fintech revenues, and the popularity of trading cards. *(Full disclosure: I own shares in Mercari.)* - Video game company [**Nintendo**](https://www.asiancenturystocks.com/deep-dive-nintendo-7974-jp/) reported that its 1QFY2027 operating profit jumped by +151%. Part of the growth came from refunds on US tariffs, as well as from strong sales of software titles. *(Full disclosure: I own shares in Nintendo.)* - Indonesian beer producer [**Multi Bintang**](https://finance.yahoo.com/quote/MLBI.JK/?ref=asiancenturystocks.com) reported strong second-quarter revenue growth of +20% and net profit growth of +30%. The biggest driver was sales to its Bali distributor, including for the new beer brand [Kawan Senja](https://www.multibintang.co.id/en/brands/kawan-senja?ref=asiancenturystocks.com). - Smart Insider data showed a cluster buy in the Indonesian telecom company [**Indosat**](https://finance.yahoo.com/quote/ISAT.JK/?ref=asiancenturystocks.com) by CEO Vikram Sinha and HR head Irsyad Sahroni. Indosat reported strong second-quarter revenue growth of +14%, with significantly higher ARPU, AI Cloud revenues more than doubling, and IDR 12 trillion in proceeds from its recent FiberCo partial divestiture. ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-22.png) Insider buying in Indosat. Source: Smart Insider Get instant access to 100+ deep-dives on Asian value stocks: [Upgrade to paid ](https://www.asiancenturystocks.com/#/portal/signup) --- ## Worth your time [![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-23.png)](https://youtu.be/4Jy8Zbd%5FZtk?si=X5TEIn83H-1DdNkT&ref=asiancenturystocks.com) - I jumped on a call with investor and Substack author [**Hugo Navarro**](https://youtu.be/4Jy8Zbd%5FZtk?si=X5TEIn83H-1DdNkT&ref=asiancenturystocks.com) to discuss whether the global cinema industry is finally turning around. The bull points: cinemas have survived many technological shifts before streaming, the theatrical exclusivity window is lengthening, and AI will lower barriers to entry for studios. The bear points: cinema tickets are unaffordable, there's hero-movie fatigue, and young people prefer short-form video. - [**Brad Setser**](https://open.spotify.com/episode/4txOz1qk2UNLcXJyBHnXg5?si=09efa92974534604&ref=asiancenturystocks.com) argued in a podcast that the yen is undervalued, even beyond what the US-Japan interest rate differential would normally imply. But he also thinks that higher Japanese interest rates will be needed for the yen to enter a bull market. - Marathon Asset Management's portfolio manager [**Justin Hill**](https://open.spotify.com/episode/2Vt5UDzx8XhWfxDWlqXMiE?si=877d06cb11a444a0&ref=asiancenturystocks.com) spoke with Ed Chancellor about Japanese share buybacks. One example was the 100-yen store [Seria](https://www.asiancenturystocks.com/deep-dive-2023-6/)'s 2025 buyback of 17% of shares outstanding, which lowered its P/E. - [**Smoak Capital Management**](https://drive.google.com/file/d/1oVK3OeSXUbHwYYLY%5FMucdP4RonfeE6Oz/view?ref=asiancenturystocks.com)'s 1H2026 letter was excellent, as usual. It discussed Japanese fan-club platform [m-up](https://finance.yahoo.com/quote/3661.T/?ref=asiancenturystocks.com), Singapore SaaS company [Azeus](https://finance.yahoo.com/quote/BBW.SI/?ref=asiancenturystocks.com), and Korea's [InBody](https://finance.yahoo.com/quote/041830.KQ/?ref=asiancenturystocks.com). - Finally, Substack author [**Price to Tangible Bruce**](https://tangiblebruce.substack.com/p/buying-japans-defence-build-up-on) wrote about a few Japanese small-cap defense stocks: [Rikei](https://finance.yahoo.com/quote/8226.T/?ref=asiancenturystocks.com), [Ryoyu Systems](https://finance.yahoo.com/quote/4685.T/?ref=asiancenturystocks.com), [Hosoya Pyro-Engineering](https://finance.yahoo.com/quote/4274.T/?ref=asiancenturystocks.com), and [Ishikawa Seisakusho](https://finance.yahoo.com/quote/6208.T/?ref=asiancenturystocks.com). --- ## Integral ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/2026/08/image-24.png) Yesterday, I published a deep dive on the Japanese private equity firm [**Integral**](https://www.asiancenturystocks.com/deep-dive-integral-5842-jp/). Many investors consider Integral to be Japan's version of KKR, in that it tends to co-invest with its funds. So far, it's raised five private equity funds, with a sixth one due in 2027 or 2028\. Some analysts are projecting the sixth fund will reach JPY 500 billion, equivalent to US$3.2 billion. If successful, it would add to Integral's fee-related earnings. Read the full story here: [Integral (5842 JP)Japanese private equity firm at 10x P/E![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/icon/Bai-2-7692b251-0a0c-40d4-8ef1-42164fc51ca0.png)Asian Century StocksMichael Fritzell![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/thumbnail/Social-preview-f989ee32-92a5-41de-87f6-f4d57a55ca56.jpg)](https://www.asiancenturystocks.com/deep-dive-integral-5842-jp/) ![](https://storage.ghost.io/c/2c/05/2c053c06-80c0-447b-904b-e324017b1293/content/images/public/images/6f96653e-67cf-48ea-8fa2-6721ec448e28_1100x51.png) Get the Integral deep dive once you become a premium subscriber: [Unlock the Integral post ](https://www.asiancenturystocks.com/#/portal/signup) ***Disclaimer:** **This post reflects my personal opinions and is for informational and educational purposes only. It is not financial advice and not a recommendation to buy or sell any security, and it does not take into account your objectives, financial situation, or needs. I am not a licensed financial adviser in Singapore or anywhere else, and I don't give personalized advice — including in the comments. As of 10 August 2026, I hold positions in Mercari and Nintendo. I hold none of the other securities mentioned. I may buy or sell any security mentioned at any time, without notice, and I won't update this disclosure. I receive no compensation from any company, fund, platform, publication or individual mentioned or linked in this post. My revenue comes solely from reader subscriptions. People I quote or interview may hold positions in the securities they discuss, and I don't independently verify their claims. Where past performance is mentioned, it is not indicative of future results. Do your own research and consult a licensed financial adviser before making any investment decision. Michael Fritzell, published by Delante Media Pte Ltd.*