Hikari Tsushin's portfolio

Hikari Tsushin is a Japanese holding company with a controversial past but a successful present. The company has a history of aggressive sales tactics and accounting scandals, but has since reinvented itself as a sales organization with a focus on recurring revenue. The company's core business generates significant cash flow, which is then reinvested into a portfolio of stocks. This portfolio has compounded at 17% per year over the past seven years, outperforming the TOPIX index. While the author is not keen on the company itself due to its questionable business practices, they are interested in its investment portfolio and believe that by copying its approach, they can achieve similar or better results.