Substack · Altay Capital - Mostly Value Investing · AltayCap
Mitani Corporation (TYO: 8066): $1.2 bn Japanese Conglomerate at 2.6× EV/EBIT with 30+ Years of Profitability
24% share count reduction since 2014, dividends up over 10×, massive net cash position, and consistently growing net income (8.9x P/E)
Since publication +30.4% α +13.9 pp vs Nikkei 225 · JPY