Double digit earnings growth trading at <5x EBITDA

͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­͏     ­

	Forwarded this email? Subscribe here for more New Idea: A customer champion, priced for zero growth, Part 1 Double digit earnings growth trading at <5x EBITDA Made in Japan Nov 12 ∙ Preview   READ IN APP   Disclaimer: The content on this website is for informational and educational purposes only and is not created to meet your personal financial situation. Nothing should be considered as investment advice or as a guarantee of profit. You are advised to consult with your financial advisors to discuss your investment options and whether it would be a suitable investment for your personal needs. The information used in this publication is from sources that are believed to be reliable but the accuracy cannot be guaranteed. It may include some errors, please make sure to do your due diligence. The opinions expressed are those of the author and the author only. These opinions are subject to change without prior notice. Disclosure: The author owns shares in companies mentioned in this article as of 12 November 2025. The security could be sold at any point in time without prior notice. Upgrade to paid Share It got too long, so this idea will be split up into 2 parts! As I’ve said several times in the past here, I like to find growing companies trading for cheap and preferably have a catalyst. This company only has a catalyst a few years out. But I like it for the very same reason that the hedge fund legend Kiyohara-san describes his investments. This is a growing company priced as if it’s not going to grow. In fact, I think this can continue to grow for quite some time. The company is even saying it wants to double earnings in the next few years. Additionally, there are several features to this business that I find attractive: It’s a counter-cyclical business, and inflation is a tailwind. More recurring than people may initially think Founder-led, where the management has been capital-conscious. This is probably one of the few companies that set out a decent ROIC target! Has a new platform business that’s been growing, and I think can be extremely valuable. The valuation doesn’t seem to reflect this I think this might be the first time I've talked about a company where the company has great customer service, and is a standout feature. It also has several competitive advantages as the market leader yet…. This is all trading at a low P/E, and I’m not even adjusting for cash here Comes with a free call option! **Fair warning: it’s a very small company, so please keep in mind!... Subscribe to Made In Japan to unlock the rest. Become a paying subscriber of Made In Japan to get access to this post and other subscriber-only content. Upgrade to paid A subscription gets you: Subscriber-only posts and full archive Ask questions directly to the author & Priority access to other services ***Avoid paying additional fees to Apple by subscribing via the site directly and NOT via the app!   Like Comment Restack   © 2025 Made in Japan Unsubscribe