Kikukawa Enterprise 6346 is the oldest and a leading sawmilling and woodworking machine manufacturer in Japan - microcap priced below cash level & PE 8.6 - WARNING no event trigger besides cheapness
Thanks for the nice feedback. On kikukawa contrary to many net cash this is a legitimate business with good RoIC almost century old managed by the kikukawa family.. so long tradition. Just too conservative in terms of cash management. It is also a automation play. This is not a part of a basket of net net it is actually a good business i am happy to own. Not a cigare butt. I dont do cigar butt. Another automation play I would say hermle is not great in cash management - although more generous in terms dividend but it is still a good investment. I will look at stalproduct. Thanks again for the feedback.
Hi there, I found your blog just recently, very well written. Kikukawa: Finally - what to do with it? I've been searching for companies like these, and there's no question, that it is cheap. But, if they just keep so money or sometime start to do something stupid with it...besides a small position, would you really go for companies like these? Stalprodukt S.A. from Poland might also interest you. Maybe not that dirt cheap, but somewhat, and they are doing tenders. Nevertheless...I somewhat lost faith in making money with these companies without getting influence on the management's capital allocation. Best regards, Ole
Thanks for the nice feedback. On kikukawa contrary to many net cash this is a legitimate business with good RoIC almost century old managed by the kikukawa family.. so long tradition. Just too conservative in terms of cash management. It is also a automation play. This is not a part of a basket of net net it is actually a good business i am happy to own. Not a cigare butt. I dont do cigar butt. Another automation play I would say hermle is not great in cash management - although more generous in terms dividend but it is still a good investment. I will look at stalproduct. Thanks again for the feedback.
Hi there, I found your blog just recently, very well written. Kikukawa: Finally - what to do with it? I've been searching for companies like these, and there's no question, that it is cheap. But, if they just keep so money or sometime start to do something stupid with it...besides a small position, would you really go for companies like these? Stalprodukt S.A. from Poland might also interest you. Maybe not that dirt cheap, but somewhat, and they are doing tenders. Nevertheless...I somewhat lost faith in making money with these companies without getting influence on the management's capital allocation. Best regards, Ole