Munehisa Homma – 18th Century Japanese Value Investor

Munehisa Homma – Father of Japanese Candlesticks by Mutiara Damansara In this Japanese name, the family name is “Homma”. Munehisa Homma ( Honma Munehisa) (also known as Sokyu Homma, Sokyu Honma) (1724-1803), was a rice merchant from Sakata, Japan who traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate. He is sometimes considered to be the father of the candlestick chart. Until about 1710, only physical rice was traded but then a futures market emerged where coupons, promising delivery of rice at a future time, began to be issued. From this, a secondary market of coupon trading emerged in which Munehisa flourished. Stories claim that he established a personal network…