A full position was established yesterday afternoon in Takefuji Corp. (8564/JP and TAKAF/OTC), a consumer finance company based in Japan. The shares closed the day at US$62.50, or approximately JPY7,340. I normally give a heads-up when I've placed an order, but this is a busy week for me with non-blogging duties and Monday got away from me.
Things are busy today as well, so I don't have time to post a rationale for owning the stock. Except to say that Takefuji is a cash-rich company trading at just over one times book value. There are some risks here, but I think the pluses outweigh the minuses.
I'll try to post a rationale later today or tomorrow.
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