Hello Kitty! Rare opportunity on Sanrio shares

Sanrio is trading at a rare 25x trailing PE multiple. This is the lowest multiple of earnings in over 10 years. At the core, it’s a great capital light business. 55% of revenues come from the character business. The company designs characters like hello Kitty, and then licenses them out for products like toys, games, tv shows, clothing, etc. This business makes up the vast majority of profits. Hello Kitty represents 40% of character based revenue, which means the company is more diversified across characters than it has ever been. The rest of the business is more capital-intense and lower margin, but it drives the character licensing business. The company operates its own stores, makes official Sanrio toys and has a parks business which operates 2 Sanrio parks in Japan (which are very fun). Toys and stores represent 34% of sales and parks are 9% of revenues. The company has compounded revenues at over 30% for the past 4 years and operating margins have expanded to a whopping 40%. The ROE of the business is 37%, suggesting the company should have a pretty darn high multiple. Japan is in a bull market and worldwide sentiment towards Japan is very positive right now.