Sohn Hong Kong 2026 – Keyrock’s Jonathan Shih Pitches Electric Giant as Japan’s Most Undervalued Infrastructure Play

Jonathan Shih, CIO and Managing Partner of Keyrock Capital Management, took the stage during the afternoon session of the 2026 Sohn Hong Kong Conference to present what he called one of the most compelling structural opportunities in Japan today. Keyrock, a Hong Kong-based firm Shih founded in 2018 after serving as a founding Managing Director at Tybourne Capital Management, specializes in emerging growth companies across the Asia-Pacific region.

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His pitch centered on Japan’s leading electricity engineering contractor, with a market capitalization of approximately $8 billion. Shih believes there is a large mismatch between surging demand and a structurally constrained labor supply which is handing the company durable pricing power that the market has yet to fully price in.

Before Tybourne, Shih began his public-equity investing career at Ward Ferry Management in 2008, where he oversaw the firm’s Chinese investments, and earlier worked at McKinsey & Co., TVG Capital, and Lehman Brothers. He holds an MBA from Harvard Business School and a B.A. from Brown University.