Kevin Smith, of Delft Partners and portfolio manager of the TAMIM Asia Small Companies Fund, highlights one of the stocks in the Asia Small Companies portfolio.
Calbee, Inc. is a Japan-based company mainly engaged in the manufacture and sale of snack confectionary, bakery and cereal food products. Calbee Inc. was established in 1949 as Matsuo Food Processing. The Calbee name was adopted in 1955 as a portmanteau of “calcium” and “vitamin B1”. In 2009 Calbee entered into a business alliance with PepsiCo Inc. with PepsiCo taking a 20% equity stake in the Calbee business. Calbee has number one market share in each of their business segments in Japan, the market share for potato based snacks is 76%, flour based snacks 57%, corn based snacks 24% and cereal products 38%.
Accounting, Strategy and Governance Comments
Source: Calbee Inc. Annual Report 2019
Value, Momentum and Quality Comments
At TAMIM we are committed to educating investors on how best to manage their retirement futures.
Sign up to receive our weekly newsletter:
TAMIM Asset Management provides general information to help you understand our investment approach. Any financial information we provide is not advice, has not considered your personal circumstances and may not be suitable for you.