Corporate Japan doing the right thing - Buying Back its Shares

In the first half of 2013 japanese corporations engaged in share repurchases totalling an amount of 1,78 Trillion Yen. The highest amount since 2005.

Discrimination in Selecting Net-Net Stocks - Piotroski F_Score

"(...) the phenomenon of 1932 was the direct outgrowth of the new-era doctrine which transferred all the tests  to the income account and completely ignored the balance- sheet (...)There is scarcely any doubt that common stock selling well below liquidating value represent on the whole a class of undervalued securities.... declined in price so severely than the actual conditions justify...must mean that on the whole these stocks afford profitable opportunities for purchase.(...) Nevertheless, the securities analyst should exercise as much discrmination  as possible in the choice of issues falling within this category.(...) he will be partial to such (...)reveal other attractive statistical features besides their liquid asset position, e.g. satisfactory current earnings and dividends, or a high average earning power in the past.(...)The analyst will avoid issues which have been loosing their quick assets at a rapid rate and show no definite signs of ceasing to do so."

(Source: Security Analysis 1st Edition page 498 ff.)