As a follow up to the Japan Sohn Conference note, here’s a quick look at one of the companies that are actually being targeted by an activist investor in Japan. Maybe it’s our fascination with airplanes, but Rolls-Royce is still rather interesting as well - see Andvari Advisors’ letter to Rolls Royce from April if you haven’t.
But back to Japan - things are certainly looking up there. And the airline business is enticing as airline operators still look for the most fuel efficient plants. But the other tailwind is increased travel in emerging markets is on the rise.
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