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Aozora’s Makuaki Fund Returns 1.2% in Third Quarter, Trails TOPIX

By Public Technologies
  • Visional represented about 5% of Orbis's Japan equity strategy; its BizReach business was valued at 13 times forecast earnings, excluding cash and incubation businesses.
  • Otsuka and Obic contributed positively in July-September 2026, supported by earnings above market expectations; Obic benefited from expanding cloud demand.
  • Sumitomo Electric remained a top holding despite share-price declines driven by profit-taking and concerns over AI investment returns; segment earnings remained strong.
  • Sugi Holdings shares fell following a dilutive private placement to finance AI and strategic investments; quarterly earnings missed its business plan.
  • Other growth-stock holdings included GMO Payment Gateway and MonotaRO, reflecting the strategy's focus on businesses trading at attractive valuations.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Aozora Investment Management Co Ltd published the original content used to generate this news brief on November 05, 2026, and is solely responsible for the information contained therein.

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