Show Notes
In this episode of Sweat Capital, we sit down with James Halse, founder of Senjin Capital and former portfolio manager at Platinum Asset Management, to unpack one of the most overlooked opportunity sets in global investing: Japanese small-cap activism.
James shares the journey from starting his career in tax at Deloitte, to spending years inside one of Australia’s most respected global equities firms, before eventually launching Senjin Capital with a dedicated focus on undercapitalised and undermanaged Japanese companies.
We explore why Japan has historically been misunderstood by global investors, what has changed in recent years, and why James believes Japanese small-cap activism is the best opportunity he has seen in nearly two decades of investing.
We also discuss the difference between cheap stocks and true value, how engagement and activism work in Japan, and why the market structure creates opportunities that are difficult to find elsewhere.
A conversation about global equities, deep-value investing, activism, and what it takes to leave an established platform to build a specialist investment firm from scratch.
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This episode was recorded on 4 May 2026.
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