Investment Value

Our View on Value

What Makes It

A long-term future cash flow to equity.

Bing with a long-term horizon is equal to traveling through time.

As time passes, the value of a right-growth business increases.

Cashflow grows as the business expands successfully over time, and the timing of cashflow gets closer due to the passage of time. 

The ability of a business to grow cash flow and the way the business does it is not identical. 

We view growth as more valuable in a sustainably low-growth world, as an investment.

Why it Works

Although traditional value can be interpreted in different ways, such as low-priced stocks or those with a high safety margin, our application, based on a value-oriented philosophy, focuses on the dynamic nature of intrinsic value over time.

This approach places relatively less emphasis on the stationary aspects of the gap between price and value at a specific point in time.

We view investment as a multi-year journey, and during the journey, cash flow, as the key source of value, grows with the progress of business, industry, technology, and the economy as we observed it centuries ago. 

 Our strategic view on value works as it is backed by our actual history and the logic of the impact of time over value.