Tuesday, December 2, 2014

Prop Trader in Tokyo, Japan:US$1MM+ BONUS (年収1億円+ !)

Proprietary Traders running institutional or private capital are both welcome. 
Track records of 50M+ Yen or US$500K+ may qualify depending on returns! 

If you are interested in related Sales & Trading focused roles in Asia or Japan, click here

For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team in Tokyo.
                              Mark  Pink                                             Shinichi Nagasawa
                      Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email                 Email

Wednesday, October 15, 2014

CEO Asia Q&A: Pacifica Capital, Japan Focus Real Estate CEO: Seth Sulkin

TMJ Partners welcomes you to our CEO Asia Q&A interview series with top executives in finance. We seek to interview CEO executives monthly, across Asia & Japan, and explore their expanding business and future returns monthly. It is aimed at those looking for something different, a true information edge. Enjoy! Mark Pink, President of TMJ Partners.

Today, we interview Seth Sulkin, the CEO of Pacifica Capital K.K. in Tokyo. He has raised capital via non-recourse loans for renewables including solar, and is expanding in Japan & Asia.

1) When did you start Pacifica Capital and how many staff are there today? What is your main focus in Japan, and have you closed any deals of note in Asia?  
We started in 2003, and now have 25 staff in Tokyo, mainly looking at Japan based deals. We touch on everything to do with Real Estate in Japan. That means development, asset & property management, advisory and renewable energy deals. We do look at China & Singapore, for real estate themed deals, but not really Hong Kong, and we have no plans to open any office within Asia.

2) Where do you see the opportunity for your firm to grow? is there any key advantage you have today in Japan?
Unlike many companies looking for opportunities, Pacifica Capital are only the second firm, behind Goldman Sachs, to close a non-recourse loan for a renewable project in Japan. Many other competitors still try, but few succeed with any closed deals, just a lot of effort and activity. In regard to solar opportunities, they are in reality real estate deals. The main difference is that they often have limits of 20 years. Compared to large REIT like sponsors, we are fast and nimble. As a firm, we know how to get permits and financing faster and more efficiently than many other competitors.

3) What attracted you to this opportunity to pursue renewable deals like solar in Japan? 
The main attraction to the solar deals in Japan is the set cashflow for 20 years. The land cost is very small compared to the equipment used. The attraction is the accelerated depreciation on this equipment for most companies. As we operate a SPV or special purpose vehicle, that is less important to us. Although many feel that the land is key, it is more the equipment and depreciation that finds more attraction to many investors. Although established in 2012, we have been trying to maximize the feed-in tariffs benefits in Japan around solar projects.

4) Has this opportunity within renewable energy in Japan changed in any way due to government actions? 
The original guidance and the policy around this has sadly changed. Major investors who have been looking into this opportunity have had to re-evaluate it profit potential. The UK, US and Germany have done a solid job with solar policy, but Spain has not as it changed terms halfway through. Japan may be following this bad example. A better more clear policy guide needs to be put in place.

5) Are there gaps in understanding that overseas investors do not fully understand that Pacifica Capital try and fill? Are there assumptions by overseas investors that cannot happen in Japan that needs education?
We do not look for stable buildings where we cannot add value in significant ways. We look make money by adding maximum value to properties in Japan. This even means taking on risk in land assembly that may require tenant evictions. Most foreign investors do not understand this risk well. If you buy one main property and then buy additional property, that ability is very rare. To price and value the larger footprint and to negotiate with tenants is what we do best at Pacifica Capital. These tenants evictions can often be resolved within 6-12 months. Too often foreign investors assume half the time this is impossible, but in reality less than 1% of tenants are difficult. 99% of the time all goes smooth and they miss out on these lucrative chances. 

6) Are there project partners or investors that you are searching for at this time for solar, retail, commercial or hotel type opportunities? 
We are always looking for investors who can help us do things that we could not do on our own. If there was a Japanese family or corporation willing to finally sell a rare piece of Japanese real estate, that would interest us greatly. This is a growing trend as more Japanese company presidents are finally doing more trusts & inheritance planning. If there was a Japanese or foreign investor who wanted to partner with us to do a major project in Japan, and use our expertise, that also would be very attractive.

7) Where do you see your firm growing the most in the next 2-3 years? Will this continue in solar or change into another new direction? 
We see hotels in Tokyo and Osaka to be a major opportunity. Not pure luxury hotels but more the 3-5 star boutique hotel that charges 15-30,000 yen a night. The growing amount of visitors to Japan needs more interesting hotels and places to stay, not boring business hotels that are very basic with no personality mainly functional. Tokyo does not have enough hotel capacity for the growing numbers of foreign tourist from China and Asia especially. More and more travellers to Tokyo or Osaka would like a "fun and interesting" place to stay, and not just settle for a clean yet basic hotel room while in Japan. Watch this space, we will be involved.

For more information about new opportunities with Pacifica Capital K.K., please contact Seth Sulkin, via email at 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 45,000+ followers already have! click here! 

バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業45,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email                         Email

Wednesday, September 24, 2014

CEO Asia Q&A: Rare Whisky Fund Expands Capital: CEO Rickesh Kishnani

TMJ Partners welcomes you to our first CEO Asia Q&A interview series with top executives in finance. We will interview CEO executives across Asia & Japan, on their expanding business and future returns, twice a month. Our goal is to introduce new Asia Pacific products & services. It is aimed at those looking for something different, a true information edge. Enjoy!

Today we interview Rickesh Kishnani, the CEO of Platinum Wines in Hong Kong. He has raised US$4MM in capital for the world's first Whisky Fund with private equity style returns. It is focused on rare old whisky stock, and is expanding.

1) When did you start your fund? How big is your fund now? and where is the fund's maximum capacity in the future? 
The fund began capital raising in March 2014.  We raised US$4MM in the first round which closed on June 30th 2014.  We have now begun the 2nd round of capital raising at the beginning of September 2014, and are looking to raise an additional US$6MM in capital to bring the total fund size to US$10MM.  That will be the maximum limit for this fund.

2) What kind of returns are you expecting in the short or longer term? How many years will this run for over time?
The expected returns for investors is 15-20% annually (net of fees) over the term of the fund which is 7 years. Final exit prices in auctions or private sales may increase these returns over the life of the fund.

3) How do investors exit or benefit from returns? Do you pay with cash dividends only? or other ways?
We will be paying dividends annually and investors will have a choice to take their dividend in 100% cash or 90% cash and 10% in the equivalent value of rare whisky bottles. Most of the asset inventory is stored in a professional bonded warehouse in Scotland.

4) Why is a whisky fund different from wine funds? Why not just buy top Bordeaux wines instead?
The fundamentals of wine and whisky are based on supply and demand economics.  What is unique about whisky is that creating whiskies aged over 18 years is a long process as all the aging happens only in the barrel. Demand is already outstripping supply, especially in Asia, and there is finite stock available because back in the 1980s and 1990s very little whisky was put aside for long term aging. Growing demand makes rare whisky a compelling collectible investment. Another advantage is that once whiskey is in the bottle, it is much easier to care for long term. It is not nearly as sensitive to the 15-20 C temperatures often needed for storing wine.

5) Why are you so driven to make this fund do well? What investment opportunity was so compelling? Why should investors consider your fund compared to other opportunities? 
This is the world’s first and only PE whisky fund and the investment opportunity is only available for the next 10-15 years while there is a gap in the market for rare and aged single malt whiskies.  The fund’s CIO (David Robertson) is a former master distiller at The Macallan and former rare whisky director at The Dalmore.  We have access and have already purchased amazing stock of rare whiskies at below market prices through private collectors in Europe, typically HNWI backgrounds.  We also have several exit strategies already in place including selling to auction houses, a large database of 3000+ private clients across Asia, and partnerships with large hotels/casinos across Asia & Europe.

6) Any extra benefits that are worth sharing at this time?
In addition to the returns, investors will also have access to several unique whisky experiences:
o   Opportunity to buy whisky from the fund’s holdings (at the latest valuation)
o   Exclusive whisky tastings hosted by brand ambassadors and the Asia fund CIO
o   Access to limited edition whisky releases for direct purchase
o   Chance to visit Scotland and the distilleries through organized tours
o   VIP access to premium whisky events in Las Vegas and Macau

7) Are you only going to invest in single malt whisky bottles from Scotland or are there others worth investing into? How hot is the market for rare whisky now? 
The majority of the fund will be whisky from Scotland but also we collect Japanese whiskies such as rare Yamazaki, Hibiki, and Karuizawa. Prices are really rising so our returns may turn out to be much higher. A recent bottle of 64 year old Glenfiddich from 1937 sold in London, UK for over GBP100,000 for a single bottle. It was 1 of only 60 bottled that year.

For more information about this new opportunity, please contact Rickesh Kishnani directly via email at 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 45,000+ followers already have! click here! 

バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業45,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email                         Email

Wednesday, September 10, 2014

"How to Start a Hedge Fund" by SinoPac & Interactive Brokers Sept 24, 2014

On September 24, 2014 in Hong Kong a free seminar about "How to Start a Hedge Fund" will take place. Steve Bernstein, the CEO of SinoPac Solutions and Services, and event partner Interactive Brokers, has been interviewed by Mark Pink, from TMJ Partners. Learn more about how you can attend below by RSVP only.

1) Who is the main target for this event? Former traders only? or any financial professional who are considering a hedge fund in the future?
More than 40 attendees have already confirmed and a maximum of 100 are expected at this event. Any serious professional preparing to start a fund is welcome
2) Is this free to attend to all or only PMs who are considering starting a hedge fund? Is there a minimum AUM size target for those who attend?
The event will be free and a RSVP is required to enter. Funds can start with as little as US$2M, but most have more on day one, key vendors will also attend. 
3) Is this the first of a series of similar events? Will this event only be for Hong Kong based hedge funds of also Singapore or Tokyo?
SinoPac have several events including "under the radar" events where one fund is profiled and potential investors are introduced. The last was US$13M in AUM. SinoPac would like to hold this event in Tokyo, Singapore and Shanghai as well.
4) Is the SinoPac/Interactive Brokers team in place competitive when compared to similar services from global prime brokers within investment banks?
The SinoPac team is more a compliment best fit for small to mid-sized firms. Large investment banks in Asia often refer smaller clients of less than US$100M in AUM to SinoPac
5) What kind of price or value do you think is the most compelling part of the event's team when compared to similar rival services?
Prices are very competitive and it is the extra care to help with pitch books and set up guidance that help keep costs low for start-up funds of any kind
6) Can other professionals not based in Hong Kong attend? Is this open to professionals now preparing for a hedge fund career change?
This is open to all financial professionals who reserve in advance. Attendees can be based in Hong Kong or anywhere else in the region or overseas.
7) What key points of the events team members do you wish to highlight for prospective attendees in Hong Kong or elsewhere?
The SinoPac/Interactive Brokers team is made up of very experienced professionals from the market, not professors used to theory. The platform has grown to 33 clients in just 2 years. They are a mix of hedge funds, private equity funds, asset managers and family offices. These 33 clients are based in Taiwan, Japan, Korea, China and Singapore in addition to Hong Kong.

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 45,000+ followers already have! click here! 

バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業45,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email                         Email

Tuesday, June 24, 2014

Casinos close to opening in Japan: Dealers start learning English

Finally, the Japanese process seems clear. Casinos and integrated resorts will soon be in Japan. The trend is so clear for some that going to casino dealing school seems to be a reasonable thing to do. For the average consumer, is spending US$5000 on a professional casino dealing course worthwhile? Is it really worth the bet? Apparently, for some willing to play the odds, the payout is worth the risk.

Casinos and gambling are no strangers to Japan, although under other guises. Pachinko, boat racing, horse racing and a variety of other ways to wager are widely known. The key is to do so in a more world class legitimate way, and has a sense of style for the international visitor. The trends of gambling revenue out of Macau now, currently 7 times more that Las Vegas, make the former gambling mecca, seem weak by comparison. 

The social ills around gambling are also going to be discussed and aired. The trouble with what is happening in Japan, is what is already here. The internet does not have a border patrol. Internet or online gambling is possible for anybody to do at home today, no matter where they live in Japan. A casino per se, will not stop this problem from coming here. Investment banks and other investors will try to balance any P/L revenue captured into the country, compared to overseas revenue already lost online, both now and in the future.

There should be Japanese equities that will benefit. Real estate firms, construction companies, recruitment services for staff, cleaning services and even security services for the cash on site. Domestic or international hotel groups will all be trying to bid for the casinos. Some may all be worth investing into. It is just another boost to stocks within the Abenomics recovery plan. The Olympics can certainly build economic momentum over time.

How the government can justify the new gambling revenue will be key. How this is done at a reasonable cost to the society will be curious to see played out. Korea has not faired well with its casino town, and a busted strategic plan, and leaves many lessons to not repeat once Japan takes the final step forward. The Olympics, is indeed a great opportunity, but there are still many steps needed to be solved with local lobbies on the way.

                                            See full story on Bloomberg News here

If you are interested in Sales & Trading focused roles in Asia or Japan then click here

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email                         Email

Tuesday, March 18, 2014

Bitcoin M&A needed with Bloomberg (and new Blackphone?)

On a recent Bloomberg West interview by Roger McNamee, co-founder at Elevation Partners, a comment on Bitcoin as a currency stood out. He mentioned several insightful cornerstones needed for Bitcoin to succeed, but the most curious was his suggestion that a major name should back it, perhaps even Bloomberg itself.

His argument is a valid one. Bitcoin or any similar digital currency is already needed for internet shopping use. The main trouble with Bitcoin is that as a fiat currency, but it is not backed by anything, like gold for example.  As a result, it lacks trust from a mass populace. Without wide range trust, no currency can get accepted widely, especially globally for internet transactions. 

Roger said that in the past, he told Google to be a bank. At least for internet transactions anyway. Warren Buffet is not yet a believer in Bitcoin today, he does not trust it and sees no intrinsic value according to recent interviews.

Trust for any future digital currency needs to solid, and Bitcoin today, does not have that trust with enough users. Mt Gox and many other recent difficulties have destroyed that trust too early. It can recover, but what trust sequence should be done to not repeat the same mistake again?

Banks and many financial firms trust Bloomberg as a system, so Roger thinks Bloomberg should back any future digital currency. Bloomberg would give Bitcoin or its equivalent, instant trust and credibility globally. If that is his first thought, then a mobile device hardware maker should be joined into this new phase of internet shopping. Perhaps Blackphone by Silent Circle could be such a choice? It recently launched February 24, 2014 in Barcelona at the Mobile World Congress, and is built by former military experts (US Navy Seals & UK SAS) with mobile smart phone security at its core. Perfect for trust.

If trust of a backed currency is needed, shouldn't solid trust in a non-hacked mobile platform be integrated at the same time? Blackphone may not be the number one smart phone brand today, but it is a new secure standard, so others would follow. Google, Yahoo, Amazon and Facebook all need a new standard to grow internet transactions further.

Given that even Apple can be hacked, why not start with the least hacked, most safe mobile device first? Fewer mistakes could be made in any next phase. The world needs a digital currency, even if Bitcoin does not work out. We seem to understand what is needed, but now need to execute on a better safer Bitcoin equivalent, with Bloomberg & Blackphone as partners, maybe Bitcoin does have a chance.

For the full Bloomberg West interview with Roger McNamee click here

Wednesday, March 12, 2014

(ブルームバーグ) 体力勝負アナリスト辞めます、元外資マン個人に長期投資指南(ティーエムジェイ・パートナーズのマーク・ピンク)

ヘッジファンド全盛の中、3年後ではなく、3日後にどうなるかが求められることが主流となり、証券アナリストとして「大手で働く面白さはなくなった」と感じた原田氏。昨年2月に米シティグループ 証券のテクノロジー担当アナリストを辞め、元フィデリティ投信調査部の泉田良輔さん(37)と会社を設立した。同年6月から、個人向けの日本株投資アイデア分析サイト「Longine(ロンジン)」を運営している。
アベノミクスに沸いた2013年の日本株は、海外投資家を中心とした買いでTOPIX が51%上昇、先進24カ国の主要株価指数の中でトップだった。長期低迷の辛酸をなめた個人投資家も市場へ回帰し、個人の売買代金は同年5月に57兆円と過去最高を記録。ことしに入り、個人の一段の市場参加を促す少額投資非課税制度(NISA)も始まった。
バブル経済の崩壊やデフレによる景気低迷の長期化に直面してきた日本の証券会社は、相場低迷の中で経費削減を余儀なくされた。タイヨーによると、日本の証券会社所属の株式アナリストは12年に440人と、1993年の875人に比べほぼ半減。トヨタ自動車 やソニー など日本を代表する大手企業は、同じ規模の海外グローバル企業と同程度のアナリストが調査対象としているが、日本の中堅、小型企業に対するカバー力は弱いのが実情だ。
原田氏のロンジンで在籍アナリストが推奨した17銘柄(3社は目標株価達成を理由に推奨終了)のうち、推奨から高値までのパフォーマンスのトップは、成長への仕組みができていることや3D関連として評価したローランド ディー.ジー. の64%高。次いで現在は推奨を終えているオムロン の53%となっている。原田氏は、日本株は継続的に下がり続ける環境から脱したが、長期投資に耐えられる企業数は日本国内でも50-100銘柄程度に限られるなど決して多くはなく、「推奨銘柄数は絞り込むことが大事」と考えている。
記事に関する記者への問い合わせ先:東京 長谷川敏郎;東京 Jason
記事についてのエディターへの問い合わせ先:Sarah McDonaldsmcdonald23@bloomberg.net院去信太郎, 上野英治郎
更新日時: 2014/03/12 18:56 JST

Wednesday, February 19, 2014

Prop Trader in Tokyo, Japan:US$1MM+ BONUS (年収1億円+ !)

Prop Trader in Tokyo, Japan: US$1MM+ BONUS! For more information, contact our president, Mark Pink at TMJ Partners in Tokyo, Tel +81 3-3505-3891 or visit for full job description details, confirmed track records are mandatory

Friday, January 24, 2014

Friday Feature Seminar: BlackRock Explains Abenomics

On Thursday January 23, 2014 at the Tokyo American Club, an interesting Economic Seminar was held to explain a Japan Investment outlook. It was presented by the CIO of BlackRock Japan, Shinichi Kawano, in English. It was a packed house with a mix of foreign and Japanese in the audience. I know that many others wanted to attend, and it seems like the kind of Japanese "Abenomics" topic that many of our readers may find worthwhile in possible insight. 

Two of the most interesting takes were about the kinds of industries that seem the least efficient compared to US comparisons. They seem to have the most potential to improve; ICT or the maximizing of Information, Communication & Technology are the ways that this can be done best. When looking at Japan basic manufacturing is already running smoothly as is construction but other industries less so. 

If you used 100 as a goal in compared efficiency in the US, the following Japan sectors seem to have the biggest gap and ability to improv;e;Food & Accommodation just 26.8%, Wholesale/Retail 42.9%, Transportation/Warehousing 45.7%, Electricity, Gas and Water supply services 53.5%, and finally Electrical Equipment 58.6. Clearly there are a lot of equity names in these sectors than can still grow a lot in Japanese price value. An expectation of 18,000 for the Nikkei seems possible by Dec 2014, a very bullish outer limit.

ICT was interesting from a personal comment as I recently heard from a Japanese prop trader in Tokyo, working at a top 5 Japanese securities firm. He asked to use Evernote and Dropbox for sharing research notes with his team, but his firm's management would "not allow it" full stop. He was asked instead to cut and paste (as in glue and scissors) news "paper" articles into a book to be kept in the office. His direct manager said ignore this "out of touch" answer and he now uses these cloud based tools anyway, but sadly, upper management do not officially encourage it. Maybe in time they will.

This is the kind of ICT example that I think Shinichi Kawano is looking for, and I can confirm is out there. It is very insightful and agree that technology and cloud based tools are certainly a key factor holding parts of corporate Japan back even now. The cloud is here, even in Japan, and cannot be stopped. Next stop 18,000 Nikkei based on this "cloud boost" perhaps!

Are you interested in related Analyst roles in Asia or Japan, click here

For more Buy-Side or Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                                          Tokyo
          Mark  Pink                                            Shinichi Nagasawa
Tel + 81 3 3505 3891                                    Tel  +81 3 3505 3891
          Email                 Email