I bought Aiful Corp. ADRs Tuesday (AIFLY/OTC) which closed the day at $6.60. The ordinary shares trade in Japan under symbol 8515. One ADR=1/4 odinary share. I bought the ADRs because they trade in line with the ordinary shares and there's enough liquidity to not get whipsawed placing a decent-sized order, an important consideration in buying any over-the-counter security.
Aiful is one of the four big Japanese consumer lenders. A full position was established and together with Takefuji Corp. (8564/JP or TAKAF/OTC) I'm obviously favorable on the long term possibilities for the sector.
I'm swamped with non-blogging duties this week, so I'll post my rationale for buying Aiful in the next day or two. But I wanted to inform regular readers of this purchase.
hello. I am an individual investor living in Japan.
I started a weblog related to stocks of Japan's consumer finance companies.
If you have any question and so on, please make me informed. thank you.
Posted by: dragonfly85 | July 16, 2007 at 02:32 AM
dragonfly85: Thanks for the offer. I take it from your site that you're invested in these stocks?
Posted by: John | July 16, 2007 at 09:59 PM
Hi, John. Thanks for your reply. Yes, I've invested in this sector in addition to regional banks, insurance companies and so on. I've participated in general meeting of shareholders of Takefuji last month. You've invested in Nikko Cordial Group, haven't you?
Posted by: dragonfly85 | July 17, 2007 at 07:20 AM
dragonfly85: Yes, I currently own Nikko Cordial, though I sold 1/3 of my original stake last year.
Posted by: John | July 17, 2007 at 11:47 PM