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Posted by
Two Blokes Jul 5 -
Filed in
Stock
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The fiscal year after next holds two major catalysts: likely a new One Piece movie which will contribute to earnings through Toei, and the TDP venue opening next Spring. The TDP venue is a sink for almost 20% of the company's market cap in cash and is centrally located, with substantial operating leverage opportunity in conventions and concerts. Earnings growth will be an important driver of the equity, while there have been capital allocation improvements, they are baby steps and limit the proper appraisal of non-operating assets.
