Hosomichi Capital: Investing in Japan's Small Cap Equities
Company Profile
Hosomichi Capital is specialist in small and mid-sized Japanese companies.
Hosomichi means "narrow path" and is taken from “Oku no Hosomichi” or “The Narrow Road to the Deep North” –the seminal travelogue and haiku collection of Matsuo Basho. Basho traveled 2,400 km by foot to the interior of Japan starting near the Hosomichi office in Tokyo.
Investing is also a “narrow path” – most stocks will underperform over the long term. A select few will create all the value.
Haiku’s 5-7-5 pattern requires extreme economy, while still conveying a profound message. Investing also involves boiling down a thesis to the 1 or 2 things that matter and ignoring the rest of the noise.
About
Patrick Rial
Founder and Representative Director
Patrick has lived in Japan since 2003, working as a teacher, journalist, sales side analyst and buy side analyst.
Prior to founding Hosomichi Capital, he spent 10 years as an analyst at Varecs Partners, a Tokyo-based small cap value boutique. He has researched thousands and met with hundreds of Japanese companies.
He has also worked at Morgan Stanley, J.P. Morgan and Bloomberg.
His interest in Japanese poetry was sparked by Tawara Machi, author of Salad Anniversary, a tanka collection. That led him to Basho and to the name Hosomichi Capital.
