Juan Matienzo of Mercor Investment Group presented his investment theses on Kikukawa Enterprise (TSE: 6346), Sonocom (Japan: 7902), and GigaMedia (US: GIGM) at Best Ideas 2022.

Thesis summary:

Kikukawa is a Japanese company that makes wood sawing machines. It has a long history of profitability, and trades at a discount to cash minus all liabilities.

Sonocom is a Japanese company that makes screen printing plates. It is profitable and trades below a conservative estimate of liquidation value.

GigaMedia has a business that has long been insubstantial and unprofitable, but the company trades at a large discount to cash minus all liabilities.

Listen to this session:

slide presentation audio recording

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. He is also an amateur painter. He has a BBA and a Master of Clinical Psychology from UDLAP, and an MBA from the Harvard Business School.

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