67 WALL STREET, New York - June 25, 2013 - The Wall Street Transcript has just published its Investing in Asia Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Investing in Asia - Longer-Term Investing - Asia Pacific Investment Theses - Investing in China - Equity Investing Strategies - China's Domestic Markets - Undervalued Asian Companies
Companies include: Toyota Motor Corp. (TM), Taiwan Semiconductor Manufacturing Company (TSM) and many more.
In the following excerpt from the Investing in Asia Report, an expert portfolio manager discusses his portfolio-construction strategy and his investment philosophy:
TWST: Would you give us two or three examples of holdings in the fund and tell us what you like about each stock and why you chose it?
Mr. Nomoto: Let me first talk about Toyota (TM). So Toyota has gained market share due to its really high-quality product coupled with generally attractive gas mileage and affordability. Toyota has increased its international production as more sales have been generated away from Japan, including joint ventures in China. Foreign currency does matter on Toyota's accounting profits, and if this yen decline continues, Toyota will have much more flexibility on pricing and enjoy low-cost advantage.
The second company I'd like to talk about is TSMC, Taiwan Semiconductor (TSM). TSMC is the largest independent semiconductor company in the world. The industry is characterized by process orientation and scale. TSMC is the only company in the industry with ample financial resources to continue to invest in process technologies, capital equipment throughout the business cycle. TSMC manufactures chips for hundreds of different customers globally with a wide variety of end-market applications, including automotive, cell phones, etc. Cash flow generation has been robust.
And the last company I would like to touch upon is Samsung Electronics (005930.KS), the Korean tech company. We like Samsung because they...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
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