- Q2 2026 Vistance Networks is framed as a debt-cleared telecom remainco whose asset sales and planned shareholder distributions leave a cash-generative business that LVS expects may be sold. Hikari Tsushin is presented as a Japanese capital allocator with disciplined investment hurdles, founder-led ownership and an undervalued collection of operating businesses and investments. first half of 2026 HKTGF $11BVISN $2.6B
One letter so far. We collect each new one as LVS Advisory publishes it.
