November 7, 2024
A Deep Dive into Tokyo Electron’s Exit and Other Key Changes #JapanFinance

A Deep Dive into Tokyo Electron’s Exit and Other Key Changes #JapanFinance

CashNews.co

Matthews Japan Fund (Trades, Portfolio), a stalwart in Japanese equity investments, has recently disclosed its portfolio adjustments for the third quarter of 2024. Established on December 31, 1998, the fund is committed to long-term capital appreciation, focusing primarily on Japanese stocks. Employing a bottom-up, fundamental investment philosophy, Matthews Japan Fund (Trades, Portfolio) aims to uncover undervalued companies with strong growth potential. The fund’s strategy is characterized by active management, a long-term focus on Asia, rigorous bottom-up research, and a broad spectrum of Asia investment strategies.

Matthews Japan Fund's Strategic Moves: A Deep Dive into Tokyo Electron's Exit and Other Key Changes
Matthews Japan Fund’s Strategic Moves: A Deep Dive into Tokyo Electron’s Exit and Other Key Changes

During the third quarter of 2024, Matthews Japan Fund (Trades, Portfolio) expanded its portfolio by adding 12 new stocks. Noteworthy new acquisitions include:

  • Advantest Corp (TSE:6857), purchasing 320,300 shares, making up 2.16% of the portfolio, valued at 15.06 billion.

  • Mitsubishi Heavy Industries Ltd (NGO:7011), with 929,400 shares, representing about 2% of the portfolio, valued at 13.89 billion.

  • Miura Co Ltd (TSE:6005), acquiring 448,100 shares, accounting for 1.59% of the portfolio, valued at 11.05 billion.

The fund also increased its stakes in 18 existing holdings, with significant boosts in:

  • Sony Group Corp (TSE:6758), adding 359,500 shares, bringing the total to 1,563,500 shares. This adjustment increased the share count by 29.86%, impacting the portfolio by 1%, with a total value of 30.38 billion.

  • Hikari Tsushin Inc (TSE:9435), adding 25,200 shares, for a total of 40,200 shares. This represents a 168% increase in share count, valued at 8.95 billion.

The fund exited nine positions entirely in this quarter, including:

  • Tokyo Electron Ltd (TSE:8035), selling all 127,300 shares, which had a -4.23% impact on the portfolio.

  • Mitsui Chemicals Inc (TSE:4183), liquidating all 393,900 shares, resulting in a -1.66% portfolio impact.

Reductions were made in 17 stocks, with the most significant being:

  • Recruit Holdings Co Ltd (TSE:6098), reduced by 169,900 shares, a -37.94% decrease, impacting the portfolio by -1.39%. The stock traded at an average price of 8700.68 during the quarter and has returned 8.56% over the past three months and 53.76% year-to-date.

  • Mitsubishi UFJ Financial Group Inc (TSE:8306), reduced by 822,100 shares, a -31.51% decrease, impacting the portfolio by -1.35%. The stock traded at an average price of 1576.06 during the quarter and has returned -4.47% over the past three months and 37.85% year-to-date.

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