Look at Pasona (2168.JP).
This is not investment advice. Please read the disclaimer. I might own discussed stock(s) currently or at a later time. I might transact in any securities at any time.
(* marked links only work in my google doc, if you are at it take look at the chosen sub-title ‘all too Japanese’. pdf can be read here)
Pasona reported results on April 12th and communicated intended capital allocation. A complete shit show.🔥 Returns to shareholders from the benefit one stake sale are very small as most capital remains within Pasona, probably generating low returns. Shareholder Returns are a yearly special dividend of JPY 60 until May 2028.This special dividends come on top of ordinary dividends, of currently JPY 15 revised from JPY 35. ⇒ I sold all my Pasona shares on Apr 15th 2024 with the stock being down -19% from Friday, 12th. I did not trust my feeling/tendency to sell Pasona before earnings, and a slight conclusion to sell* written down on Feb 14. At least I somewhat reduced my position in February.
The chosen capital allocation is about as worse as it gets, but we were warned*.
Overall I made a quite good return despite the underwhelming end. With my 2nd and 3rd buy I only bought 60% of the shares I initially bought on Nov 14th* and which I completely sold on Nov 21st.
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