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David Goodloe
David Goodloe
Articles (769) 

T. Rowe Price Japan Fund Acquires 5 Stakes in 4th Quarter

Guru's additions to existing stakes exceed number in nearly every quarter since 2012

In the fourth quarter, the T. Rowe Price Japan Fund (Trades, Portfolio) matched its number of new buys in the third quarter and added to more stakes than it has in all but one quarter since 2012.

The Fund invested in five new holdings in the fourth quarter, the most noteworthy being the purchase of a 256,800-share stake in Miura Co. Ltd. (TSE:6005), a Japanese boiler manufacturer, for an average price of ¥1,559.85 (about $13.30 in U.S. currency) per share. The acquisition had a 1.11% impact on the Fund’s portfolio.

The stake is 0.23% of Miura’s outstanding shares and 1.11% of the Fund’s total assets.

Miura has a P/E of 22.9, a forward P/E of 18.7, a P/B of 1.7 and a P/S of 1.9. GuruFocus gives Miura a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.

Charles de Vaulx (Trades, Portfolio) is Miura’s leading shareholder among the gurus with 5,708,800 shares in his portfolio. The stake is 5.08% of Miura’s outstanding shares and 1.42% of de Vaulx’s total assets.

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Miura sold for ¥1,560 (roughly $13.30 in American money) per share Tuesday.

The Fund acquired a 44,800-share stake in Shin-Etsu Chemical Co. Ltd. (TSE:4063), a Tokyo-based chemical company, for an average price of ¥6,873.47 (approximately $58.62 in American dollars) per share. The transaction had a 0.75% impact on the Fund’s portfolio.

The Fund’s stake is 0.01% of Shin-Etsu’s outstanding shares and 0.75% of the Fund’s total assets.

Shin-Etsu has a P/E of 18.9, a P/B of 1.3 and a P/S of 2.0. GuruFocus gives Shin-Etsu a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

Causeway International Value (Trades, Portfolio) is Shin-Etsu’s leading shareholder among the gurus with 1,224,100 shares in its portfolio. The stake is 0.29% of Shin-Etsu’s outstanding shares and 0.98% of Causeway’s total assets.

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Shin-Etsu sold for ¥5,984 (about $51.04 in U.S. currency) per share Tuesday.

The Fund bought a 364,000-share stake in Asahi Kasei Corp. (TSE:3407), a Tokyo-based chemical company, for an average price of ¥793.55 (approximately $6.77 in American money) per share. The deal had a 0.75% impact on the Fund’s portfolio.

The stake is 0.03% of Asahi Kasei’s outstanding shares and 0.75% of the Fund’s total asset. The Fund is Asahi Kasei’s only shareholder among the gurus.

Asahi Kasei has a P/E of 10.2, a P/B of 1.0 and a P/S of 0.5. GuruFocus gives Asahi Kasei a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

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Asahi Kasei sold for ¥755.5 (roughly $6.44 in U.S. dollars) per share Tuesday.

The Fund purchased a 389,500-share stake in Yahoo! Japan Corp. (TSE:4689), a Tokyo-based Internet company, for an average price of ¥497.1 (about $4.24 in U.S. currency) per share. The transaction had a 0.48% impact on the Fund’s portfolio.

The stake is 0.01% of Yahoo! Japan’s outstanding shares and 0.48% of the Fund’s total assets.

Yahoo! Japan has a P/E of 13.3, a P/B of 3.2 and a P/S of 5.4. GuruFocus gives Yahoo! Japan a Financial Strength rating of 9/10 and a Profitability and Growth rating of 8/10.

De Vaulx is Yahoo! Japan’s leading shareholder among the gurus with 13,754,300 shares in his portfolio. The stake is 0.24% of Yahoo! Japan’s outstanding shares and 1.12% of de Vaulx’s total assets.

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Yahoo! Japan sold for ¥441 (approximately $3.76 in American money) per share Tuesday.

The Fund acquired a 12,300-share stake in Welcia Holdings Co. Ltd. (TSE:3141), a Japanese pharmaceutical retailer, for an average price of ¥6,246.5 (roughly $53.27 in American dollars) per share. The deal had a 0.21% impact on the Fund’s portfolio.

The stake is 0.02% of Welcia’s outstanding shares and 0.21% of the Fund’s total assets. The Fund is Welcia’s only shareholder among the gurus.

Welcia has a P/E of 35.4, a forward P/E of 9.4, a P/B of 3.3 and a P/S of 0.7. GuruFocus gives Welcia a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

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Welcia sold for ¥6,130 (about $52.28 in U.S. currency) per share Tuesday.

The Fund added to a total of 66 existing stakes in the fourth quarter.

The Fund added 197 shares to its stake in Hoshino Resorts REIT Inc. (TSE:3287), a Japanese operator of hotels and resorts, for an average price of ¥1,215,030 (approximately $10,362.6 in U.S. money) per share. The transaction had a 0.63% impact on the Fund’s portfolio.

The Fund’s stake, now 425 shares, is 1.06% of Hoshino’s outstanding shares and 1.35% of the Fund’s total assets. The Fund is Hoshino’s only shareholder among the gurus.

GuruFocus gives Hoshino a Financial Strength rating of 4/10 and a Profitability and Growth rating of 2/10.

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Hoshino sold for ¥1,169,000 ($9,970.6 in American dollars) per share Tuesday.

The Fund acquired 118,200 shares of Hitachi Metals Ltd. (TSE:5486), a Japanese metals products company, for an average price of ¥1,525.47 (about $13.01 in American currency) per share. The deal had a 0.45% impact on the Fund’s portfolio.

The Fund’s stake of 415,500 shares is 0.1% of Hitachi Metals’ outstanding shares and 1.57% of the Fund’s total assets. The Fund is Hitachi Metals’ only shareholder among the gurus.

Hitachi Metals has a P/E of 6.6, a P/B of 1.1 and a P/S of 0.5. GuruFocus gives Hitachi Metals a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.

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Hitachi Metals sold for ¥1,350 (approximately $11.51 in U.S. money) per share Tuesday.

The Fund bought 27,200 shares of Suntory Beverage & Food Ltd. (TSE:2587), a Tokyo-based food and nonalcoholic beverage company, for an average price of ¥4,909.92 (roughly $41.88 in U.S. dollars) per share. The transaction had a 0.36% impact on the Fund’s portfolio.

The stake, now 162,600 shares, is 0.05% of Suntory’s outstanding shares and 2.18% of the Fund’s total assets. The Fund is Suntory’s only shareholder among the gurus.

Suntory has a P/E of 37.4, a P/B of 2.8 and a P/S of 1.2. GuruFocus gives Suntory a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.

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Suntory sold for ¥5,350 (about $45.63 in American currency) per share Tuesday.

The Fund purchased 67,600 shares of Kadokawa Dwango Corp. (TSE:9468), a Tokyo-based mass media company, for an average price of ¥1,748.58 (approximately $14.91 in American money) per share. The deal had a 0.31% impact on the Fund’s portfolio.

The stake of 142,800 shares is 0.2% of Kadokawa Dwango’s outstanding shares and 0.66% of the Fund’s total assets. The Fund is Kadokawa Dwango’s only shareholder among the gurus.

GuruFocus gives Kadokawa Dwango a Financial Strength rating of 4/10 and a Profitability and Growth rating of 3/10.

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Kadokawa Dwango sold for ¥1,601 (roughly $13.65 in U.S. dollars) per share Tuesday.

The Fund bought 18,800 shares of Seria Co. Ltd. (TSE:2782), a Japanese discount retailer, for an average price of ¥5,300.25 (about $45.20 in U.S. currency) per share. The transaction had a 0.28% impact on the Fund’s portfolio.

The Fund’s stake, now 92,200 shares, is 0.24% of Seria’s outstanding shares and 1.37% of the Fund’s total assets.

Seria has a P/E of 33.3, a forward P/E of 24.1, a P/B of 6.5 and a P/S of 1.9. GuruFocus gives Seria a Financial Strength rating of 4/10 and a Profitability and Growth rating of 7/10.

Wasatch International Growth (Trades, Portfolio) is Seria’s leading shareholder among the gurus with 381,295 shares in its portfolio. The stake is 1.01% of Seria’s outstanding shares and 1.44% of Wasatch’s total assets.

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Seria sold for ¥6,040 (approximately $51.51 in American money) per share Tuesday.

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About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm a writer/editor at GuruFocus.

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