Our Investment Advisory Business

For over 20 years, we have been dedicated to engaging with small- and mid-cap companies listed on the Japanese stock market. Our approach is firmly rooted in corporate finance principles, while incorporating academic research and management consulting methodologies.

Through these efforts, we aim to drive sustainable growth and enhance corporate value for our portfolio companies, ultimately delivering long-term benefits to investors.

We are currently providing investment advisory services for several investment strategies including Asuka Value Co-Creation Strategy (“The Strategy”)

Our Co-Creation Engagement

At the core of our investment advisory strategy lies the principle of “co-creation,” rather than confrontation.

We pursue a collaborative engagement model where companies, asset owners, and investors work together with a sincere, long-term perspective—jointly creating value, sharing it with society, and ultimately transforming it into tangible outcomes.

Traditional engagement has typically taken place within a closed environment between companies and investors.
Our co-creation model goes beyond this framework by leveraging the insights and networks of asset owners. This approach expands the field of engagement from the stock market to society at large, thereby increasing the potential for realizing meaningful and sustainable value.

Engagement Cases

We have provided managerial advice to a wide range of companies—from mature businesses seeking new growth strategies to firms struggling to define their strategic direction after going public. For each company, we deliver tailored solutions to address the unique challenges of enhancing corporate value.

Our distinctive approach combines two dimensions: bridging the gap between intrinsic value and market valuation through financial and IR strategies, and driving corporate value itself upward through growth strategy proposals.

Summary of Value Up Activities

Messages from PF Companies

CEO, Consumer Durable Goods Company

“Though Asuka might be classified as financial investors, their mindset and approach is completely different from stereotypical financial investors. Their proposals include more “managerial” points of view than pure investors points of view such as the information on competitive analysis in oversea markets which we can not find out by ourselves.Their proposals give us good insight on the business planning in the future.”

CEO, Health Care Service Company

“Asuka has continuously brought creative business ideas to boost our corporate value. Introduction of new client channel, cost reduction and more.  The dialogue with investors tend to focus on the capital issue, but the discussion with Asuka tend to focus to improve our business itself.“

CEO, Specialty Retailer Store Chain

“I guess it was made possible through their hands-on approach. In discussion store roll-out planning, for example, they have visited so many of our stores and converged numerical analysis and qualitative analysis into proposals. In other words,they understand the reality of our business”

CEO, Internet Service Company

“The uniqueness of Asuka’s approach is not only the excellence of proposal, but also the support to implement their proposal. They suggested that we explore the business in China.They actually helped us to make market research in China by setting up appointments and even visiting China together. Our launch of our China business owe al lot to Asuka” 

SSC・ESG・PRI

The Strategy and the Stewardship Code

JAMP Fund Management Co., Ltd., which manages the Value-Up Co-Creation Strategy, has declared its acceptance of Japan’s Stewardship Code (link).

Our Approach to ESG and Value-Up Co-Creation Strategy

  • We believe that a company’s genuine commitment to ESG initiatives enhances the sustainability of its future cash flows and reduces its discount rate, making ESG an effective driver for maintaining and improving long-term corporate value.
  • The Strategy is based on a long-term perspective: investing in high-quality companies and working closely with them through dialogue and proposals to improve corporate value.
  • Shared Philosophy: Both our investment approach and ESG principles emphasize selecting superior companies with a long-term outlook. ESG considerations complement and strengthen our hands-on engagement activities aimed at enhancing corporate value.
  • Integration Approach: We do not use top-down ESG screening methods. Instead, we apply our proprietary selection criteria and incorporate ESG perspectives into company evaluations and value-enhancement activities.
  • Evaluation Process:
    • ESG Integration: We assess whether a company’s current ESG practices pose risks to business continuity.
    • ESG-Themed Investment: We examine the relevance of a company’s business in the context of ESG-related megatrends that underpin long-term investment.
  • ESG Engagement: If a company’s ESG status undermines its corporate value—or if improvements could enhance value—we actively propose solutions to address these issues.

Relationship Between PRI and The Strategy

  • Alignment with PRI Principles:
    The Strategy     has pioneered engagement-based investment approaches to deliver returns for investors. As outlined above, we believe our investment philosophy shares many common elements with the principles of PRI, and we therefore support its underlying ideas.
  • Considerations for Formal Adoption:
    However, formal adoption of PRI requires meeting minimum compliance conditions that may impose certain investment restrictions. We are carefully evaluating whether such adoption could affect the product characteristics our existing clients expect.
  • Current Position:
    At present, we have not adopted PRI. Nevertheless, we continue to pursue ESG-integrated investment and corporate value enhancement through our own initiatives.
  • Future Outlook:
    We will review our position carefully, taking into account client needs and broader societal expectations.

©2018 Asuka Corporate Advisory Co., Ltd.