Hi,
I'm invested into 7902 SONOCOM CO LTD.
Pretty fairly stable company. However, they have more in net cash (cash – liabilities) than their market cap and it's been this way for years.
That's without taking into consideration the accounts receivables, securities and marketable securities. If we take this into account – they have net cash equivalents of more than twice their market cap.
Management proceeds to no increase in dividends, no special dividends and no share repurchase.
I heard in Japan there's a stock market reform where management are required to repurchase or be shareholder-friendly.
I was wondering if anyone had more on this? I found this for example:
'2) Japan has undertaken significant structural corporate reforms in recent years. These include enhanced listing criteria by the Tokyo Stock Exchange (asking listed companies to increase their price-to-book (P/B) ratios, to boost capital efficiency and profitability). The call for improved capital efficiency has led to a focus on boosting shareholder returns, and record share buybacks in 2023. Returns on equity (ROE) and P/B ratios have increased following these reforms.'
by Venture2020