GARYO FINANCE Insights

Original, data-driven analysis of ASEAN finance and corporate strategy from a practitioner’s perspective.

Valuation Framework

Mar 30, 2026

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4 min read

CapEx in Valuation

Why Internal Decisions Don't Match External Models

Dai Kadomae

WACC

Mar 7, 2026

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3 min read

The WACC Pitfall: How Hybrid Capital Valuation Can Make or Break Your Deal

Precision in WACC: Determining Deal Outcomes — The True Cost of Hybrid Capital and Valuation in ASEAN Markets

Dai Kadomae

Valuation Framework

Thailand's Valuation Ceiling: Why MINT is Bypassing the SET for Hong Kong and Singapore

Mar 2, 2026

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5 min read

Thailand's Valuation Ceiling: Why MINT is Bypassing the SET for Hong Kong and Singapore

Beyond the Valuation Ceiling: Addressing the Urgent Need for SET Liquidity Enhancement

Dai Kadomae

Balance Sheet Analysis

When Dividends Signal Stress, Not Strength

Jan 23, 2026

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3 min read

When Dividends Signal Stress, Not Strength

The Hidden Cost of Paying Out in Thai Equities

Dai Kadomae

Investor Relations

Jan 18, 2026

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3 min read

Record Dividends, Persistent Discount

Why dividends alone cannot rebuild confidence in Thai equities

Dai Kadomae

Corporate Governance & Disclosure

Is Your Company's Share Price Fairly Valued? If Not, Why?

Dec 26, 2025

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4 min read

Is Your Company's Share Price Fairly Valued? If Not, Why?

ASEAN Mispricing - The Two Sides of The Same Coin

Dai Kadomae

Funding Cost & WACC

Dec 23, 2025

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3 min read

Another roadblock:Interest Expense

Why WACC breaks before financial modeling begins

Dai Kadomae

Funding Cost & WACC

Why I deliberately exclude CAPEX and working capital assumptions

Dec 22, 2025

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3 min read

Why I deliberately exclude CAPEX and working capital assumptions

Why management-driven decisions do not belong in cross-border valuation.

Dai Kadomae

Financial Comparability

Dec 20, 2025

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4 min read

Why the Numbers Look Comparable — but the Fundamentals Are Not

A measurement problem hiding behind familiar financial labels.

Dai Kadomae

China+1

Oct 24, 2025

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5 min read

ASEAN Rising on investors' Radar

From risk realignment to Vietnam’s FTSE upgrade

Dai Kadomae

Safe Haven vs Growth

Sep 26, 2025

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3 min read

Thailand’s Terms of Trade Paradox

Safe Haven for Investors, Stagnation for the Economy

Dai Kadomae

Thailand Bond Market

Sep 25, 2025

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4 min read

Thailand’s Bond Yield Paradox

From policy rates to bond yields: how Thailand became ASEAN’s safe haven

Dai Kadomae

Thailand’s Financial Paradoxes

Sep 23, 2025

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3 min read

Thailand’s Interest Rate Paradox

From safe-haven baht to policy puzzle

Dai Kadomae

Thailand’s Financial Paradoxes

Thailand’s Baht: Resilient or Unstable Trap?

Sep 22, 2025

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3 min read

Thailand’s Baht: Resilient or Unstable Trap?

Why a currency treated like a safe-haven is also one of ASEAN’s most volatile.

Dai Kadomae

ASEAN Startups

Thailand’s Startup Hotbed: From $1.25B Peak to the Next Unicorns

Sep 20, 2025

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3 min read

Thailand’s Startup Hotbed: From $1.25B Peak to the Next Unicorns

Thailand’s startup ecosystem is small but full of potential. The next decade will decide whether it rises as ASEAN’s innovation hub.

Dai Kadomae

Capital Markets

Beyond Deflation: China’s Structural Fault Lines

Sep 19, 2025

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2 min read

Beyond Deflation: China’s Structural Fault Lines

China’s challenges run deeper than deflation and trade disputes

Investor Relations

Trump 2.0 & SEC Compliance: Future of Quarterly Reporting for CFOs

Sep 18, 2025

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4 min read

Trump 2.0 & SEC Compliance: Future of Quarterly Reporting for CFOs

What does Trump 2.0 mean for SEC compliance and Investor Relations? A strategic look at the challenges for CFOs regarding transparency and quarterly reporting requirements.

Dai Kadomae

Corporate treasury

Crypto Finance: From Treasury Experiment to Mainstream Allocation?

Sep 17, 2025

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2 min read

Crypto Finance: From Treasury Experiment to Mainstream Allocation?

How ASEAN CFOs are rethinking cash, risk, and crypto allocations

Dai Kadomae

Water infrastructure

Thailand’s Resort Islands Face an Urgent Water Crisis

Sep 15, 2025

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5 min read

Thailand’s Resort Islands Face an Urgent Water Crisis

Water Infrastructure Investment in Southern Thailand’s Krabi and Samui Islands

Dai Kadomae