Kamigumi: Noticeable Large Buybacks

Kamigumi, one of the most important port infrastructure company in Japan has announced a large buyback which is confirming the original investment thesis.

Kamigumi, one of the most important port infrastructure company in Japan has announced a large buyback which is confirming the original investment thesis that the company is a free cash flow machine, underpriced and as such must return more and more cash to shareholders to comply with the new Japanese stock market reform. The new reform is intended to address low share prices and price-to-book ratios (PBRs), and to align corporate interests with those of shareholders. S

Kamigumi is a large port operator in Japan with a leading market share in Japan’s top 6 ports: Tokyo, Yokohama, Nagoya, Osaka, Kobe and Hakata.

I covered this stock in this post last February:

Large buybacks

On Nov.13th, Kamigumi has announced its intention to purchase up to 5.4m shares (5.08% of shares) and up to 17B yen.

On Nov.14th, 3.814m shares were purchased or about 3.6% of sh…