Hoshizaki stock was highlighted in Artisan International Explorer’s third-quarter 2026 fund letter, with the fund citing the commercial kitchen equipment company’s market position and potential to expand margins.
Why the fund holds Hoshizaki stock
The fund said it initiated its position at a low-teens price-to-earnings multiple excluding cash. It did not specify when the position was established.
Artisan said it perceived greater urgency from Hoshizaki’s management to narrow the margin gap with competitors Middleby and ITW, which the fund said have margins above 20%. That assessment is the fund’s view, not a forecast or a company target.
Portfolio disclosure
Hoshizaki trades on the Tokyo Stock Exchange under the code 6465. Artisan notes that portfolio holdings are subject to change without notice and are not intended as recommendations of individual securities.
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