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Article: Taking Aim at Cash-Rich Japanese Companies
- Article from:
- International Herald Tribune
- Article date:
- September 1, 2001
- Author:
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Miki Tanikawa
International Herald Tribune
09-01-2001
AN INVESTOR searching for value investments will find a rich trove of targets in Japan, where listed shares valued far below par, or even below liquid asset value, are plentiful.The problem is, many such companies remain undervalued forever. In the past few years, the Western press including The Money Report has noted with wonderment the number of Japanese companies with little debt and an assurance of sustained future profits whose stocks trade below book value. These companies typically sit on a giant pile of cash. In March 1998, the Money Report examined several Japanese cram schools, called juku, listed on Japan's over-the-counter ...