Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech and semi's continuing to favor AI over power/analog post Marvell and Microchip numbers.</li>
<li>Worth paying attention to less known Japanese SPE Shibaura Mechatronics and the long lost Towa.</li>
<li>US Homebuilders weak on concern over Trump's plans to deport undocumented workers.</li>
</ul>


Tech and semi's continuing to favor AI over power/analog post Marvell and Microchip numbers.
Worth paying attention to less known Japanese SPE Shibaura Mechatronics and the long lost Towa.
US Homebuilders weak on concern over Trump's plans to deport undocumented workers.


Japan Morning Connection: Buy Momentum at All Costs in Japan Set to Continue?

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>We screen for Japanese companies at the extreme ends of their positioning or momentum ranges among active Japan equity funds.</li>
<li>Low Positioning coupled with Negative Momentum: Nissan Motor Corp and Misumi Group</li>
<li>High Positioning coupled with High Momentum: ASICS Corp and Kyushu Railway</li>
</ul>


We screen for Japanese companies at the extreme ends of their positioning or momentum ranges among active Japan equity funds.
Low Positioning coupled with Negative Momentum: Nissan Motor Corp and Misumi Group
High Positioning coupled with High Momentum: ASICS Corp and Kyushu Railway


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Kansai Electric Power / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kansai-electric-power-co-inc" target="_blank" data-smartkarma-citation="entities:18907:1" rel="noopener">Kansai Electric Power (9503 JP)</a> plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans.</li>
<li>In our earlier note, we talked about the placement and ran the deal through our ECM framework.</li>
<li>In this note, we talk about the updates and share price performance since then.</li>
</ul>



Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans.
In our earlier note, we talked about the placement and ran the deal through our ECM framework.
In this note, we talk about the updates and share price performance since then.


Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

Japan Specialist

Mark Chadwick

Equity Bottom-Up

<ul>
<li>ASICS has demonstrated exceptional brand rejuvenation and profitability improvements, with an ambitious 2026 plan that capitalizes on high-growth lifestyle categories</li>
<li>However, the pivot toward fashion and luxury markets introduces heightened execution risk.</li>
<li>While the upgraded MTP targets are commendable, much of the good news appears to be priced in.</li>
</ul>


ASICS has demonstrated exceptional brand rejuvenation and profitability improvements, with an ambitious 2026 plan that capitalizes on high-growth lifestyle categories
However, the pivot toward fashion and luxury markets introduces heightened execution risk.
While the upgraded MTP targets are commendable, much of the good news appears to be priced in.


Asics (7936) | Upgraded Targets on Fashion Pivot

<ul>
<li>The Japanese market ended the week on a mixed note, with the Nikkei 225 Index down 2.2%</li>
<li>Stocks moves were largely dictated by earnings. Furukawa's full year upward revision was a standout, while THK surprised the market with a punchy buyback</li>
<li>
<strong>Watchlist</strong>: ASICS continues to perform well and will upgrade its mid-term outlook this week. Nexon and Appier could be worth a look after recent stock price declines</li>
</ul>


The Japanese market ended the week on a mixed note, with the Nikkei 225 Index down 2.2%
Stocks moves were largely dictated by earnings. Furukawa's full year upward revision was a standout, while THK surprised the market with a punchy buyback

Watchlist: ASICS continues to perform well and will upgrade its mid-term outlook this week. Nexon and Appier could be worth a look after recent stock price declines


Japan Weekly | Mixed Market but Plenty Going On

Japan

ASICS CORPORATION manufactures general sporting goods and equipment.  The Company's products, such as athletic shoes and sportswear, are distributed in the United States, Europe, Australia, and Asia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ASICS Corp (7936 JP)

Japan Morning Connection: Buy Momentum at All Costs in Japan Set to Continue?

Tech and semi's continue to favour AI over power/analog, some rotation into lesser known JP SPE, US Homebuilders weak over Trump's deportation plans.

Andrew Jackson

Japan Funds: Extreme Stocks

We screen for Japanese companies at the extreme ends of their positioning or momentum ranges among active Japan equity funds.

Steven Holden

Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans. In this note, we...

Sumeet Singh

Asics (7936) | Upgraded Targets on Fashion Pivot

ASICS shows strong brand revival and profit growth but faces risks in shifting to fashion/luxury markets. Ambitious 2026 plan may already be...

Mark Chadwick

Japan Weekly | Mixed Market but Plenty Going On

Japanese market ends week mixed, Nikkei 225 down 2.2%. Earnings drive stock moves, Furukawa's revision stands out, THK surprises with buyback....

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Buy Momentum at All Costs in Japan Set to Continue?

​Tech and semi's continue to favour AI over power/analog, some rotation into lesser known JP SPE, US Homebuilders weak over Trump's deportation plans.

Andrew Jackson

Japan Funds: Extreme Stocks

We screen for Japanese companies at the extreme ends of their positioning or momentum ranges among active Japan equity funds.

Steven Holden

Kansai Electric US$3.5bn Deal Updates - Has Delivered a Decent Correction, as Compared to past Deals

Kansai Electric Power (9503 JP) plans to raise up to US$3.5bn (including over-allocation) to partly fund its investment plans. In this note, we...

Sumeet Singh

Asics (7936) | Upgraded Targets on Fashion Pivot

​ASICS shows strong brand revival and profit growth but faces risks in shifting to fashion/luxury markets. Ambitious 2026 plan may already be...

Mark Chadwick

Japan Weekly | Mixed Market but Plenty Going On

​Japanese market ends week mixed, Nikkei 225 down 2.2%. Earnings drive stock moves, Furukawa's revision stands out, THK surprises with buyback....

Mark Chadwick

Tech and semi's continue to favour AI over power/analog, some rotation into lesser known JP SPE, US Homebuilders weak over Trump's deportation plans.

ASICS shows strong brand revival and profit growth but faces risks in shifting to fashion/luxury markets. Ambitious 2026 plan may already be...

Japanese market ends week mixed, Nikkei 225 down 2.2%. Earnings drive stock moves, Furukawa's revision stands out, THK surprises with buyback....