Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.</li>
<li>JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.</li>
<li>Quantum names all strong on good numbers, but will Socionext catch on this time?</li>
</ul>


Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.
JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.
Quantum names all strong on good numbers, but will Socionext catch on this time?


Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

Japan Specialist

Mark Chadwick

<ul>
<li>Stocks rose as optimism grew ahead of next week’s Trump–Xi summit; Intel jumped on strong earnings; quantum computing stocks rallied on potential US equity stakes, </li>
<li>Crude prices surged +4% after Washington imposed sanctions on two major Russian energy firms, aiming to increase pressure on Moscow to end the Ukraine war.</li>
<li>Japan's RENGO says it will be seeking wage hikes of 5% or more in 2026 shunto negotiations; Watch today: Sep Core CPI YoY+2.9% Exp.</li>
</ul>


Stocks rose as optimism grew ahead of next week’s Trump–Xi summit; Intel jumped on strong earnings; quantum computing stocks rallied on potential US equity stakes, 
Crude prices surged +4% after Washington imposed sanctions on two major Russian energy firms, aiming to increase pressure on Moscow to end the Ukraine war.
Japan's RENGO says it will be seeking wage hikes of 5% or more in 2026 shunto negotiations; Watch today: Sep Core CPI YoY+2.9% Exp.


Ohayo Japan | Intel Surges, Trump-Xi Summit Set

<ul>
<li>Opposition coalition forming against Takaichi, but unlikely to succeed given vast policy differences</li>
<li>Samsung big beat this morning shows the memory super cycle may be a real thing</li>
<li>Softbank to surge with ARM architecture used in latest Broadcom/NVDA multi-year deal for ASIC</li>
</ul>


Opposition coalition forming against Takaichi, but unlikely to succeed given vast policy differences
Samsung big beat this morning shows the memory super cycle may be a real thing
Softbank to surge with ARM architecture used in latest Broadcom/NVDA multi-year deal for ASIC


Japan Morning Connection: Tech Dip Buying Likely After Wobble from Takaichi Political Challenge

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

IonQ, Inc. operates as a computing hardware and software company. The Company develops a general-purpose trapped ion quantum computer and software to generate, optimize, and execute quantum circuits. IonQ serves customers worldwide.

Key points (machine generated)<ul><li>IonQ, valued at $12 billion, is shifting focus from quantum hardware to software and hybrid solutions amid industry challenges.</li><li>The company reported only $3.1 million in hardware revenue last quarter, indicating a decline, alongside $4.5 million from consulting and cloud services.</li><li>Investor sentiment is cautious, reflected by a short interest of 14.8% and a borrow cost of 0.5%.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)IonQ, valued at $12 billion, is shifting focus from quantum hardware to software and hybrid solutions amid industry challenges.The company reported only $3.1 million in hardware revenue last quarter, indicating a decline, alongside $4.5 million from consulting and cloud services.Investor sentiment is cautious, reflected by a short interest of 14.8% and a borrow cost of 0.5%.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

<ul>
<li>Outperforming memory and NVDA takes a break while semi-cap and AMD related surge.</li>
<li>Wafer names continue to rise with Siltronic +9.2% taking gains to 85% since mid-Sep. Sumco, Shin Etsu and maybe even Tokuyama in focus.</li>
<li>EssilorLuxottica took its Nikon stake up to 10.8% yesterday, but now reports it has approval to take this to 20%. Can squeeze a lot more.</li>
</ul>


Outperforming memory and NVDA takes a break while semi-cap and AMD related surge.
Wafer names continue to rise with Siltronic +9.2% taking gains to 85% since mid-Sep. Sumco, Shin Etsu and maybe even Tokuyama in focus.
EssilorLuxottica took its Nikon stake up to 10.8% yesterday, but now reports it has approval to take this to 20%. Can squeeze a lot more.


Japan Morning Connection: AMD Deal News Sends AI Lurching Higher