Our Strategy

The Asuka Value Up Fund is a Patient Constructive Activist fund. Key characteristics of the Fund include:

  • Invests in small to medium cap listed companies in Japan.
  • Becomes an influential shareholder of undervalued companies from a long-term standpoint.
  • Works together with company management to stretch corporate value and fill the value-price gap.
Our Belief
Patient Constructive Activism provides the best investment performance in the Japanese small to medium cap market.
  • Working in partnership with company management is the key value driver.
Management Characteristics Stock Market Characteristics
Japanese small-caps typically have strong front operations, but are weak in the use of modern, scientific management techniques.
  • Lowest ROE levels in the world
  • Low profitability caused by management strategies that lack dynamism
Short-termism and herding dominates the market
  • Shareholders are not a priority audience for management at Japanese companies.
  • Long-term, contrarian investment is a “Blue Ocean”.

Asuka is actively involved in the management of our portfolio companies, where we launch focused “Company-wide Top-down Projects” in partnership with management. Illustrating the extent to which we work with management, these projects are often conducted through non-disclosure agreements and contracts.