Juan Matienzo of Mercor Investment Group presented his investment theses on Playmates Toys (Hong Kong: 869), Nichiwa Sangyo Co. (Japan: 2055), and KG Intelligence (Japan: 2408) at Best Ideas 2021.
Playmates Toys is a money-losing toy seller based in Hong Kong. It trades at ~50% of net cash and has been buying back shares.
Nichiwa Sangyo Co. is a profitable Japanese manufacturer of feed mixtures. It trades at one-third of tangible book value.
KG Intelligence is a declining Japanese content provider. It trades at ~60% of net cash and has significant insider ownership.
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About the instructor:
Juan F. Matienzo is the Managing Partner of Mercor Investment Group, where he is responsible for the portfolio. Juan follows deep value principles, and prefers companies that trade for less than liquidating value, and at low multiples of normalized earnings. He has a BBA and a Master of Clinical Psychology from UDLAP, and an MBA from the Harvard Business School.