IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Shinko Electric Industries / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric Industries (6967 JP)</a>’s tender offer from a JIC alliance is at JPY5,920. Today’s update notes that JIC has satisfied the regulatory precondition. </li>
<li>The tender offer is expected to commence in mid-February. The Board will continue to recommend it because it remains attractive. </li>
<li>Deal fatigue (announced in December 2023) and Ibiden's derating will nudge shareholders to accept. At the last close and for an end-of-March payment, the gross/annualised spread was 0.7%/3.9%.</li>
</ul>



Shinko Electric Industries (6967 JP)’s tender offer from a JIC alliance is at JPY5,920. Today’s update notes that JIC has satisfied the regulatory precondition. 
The tender offer is expected to commence in mid-February. The Board will continue to recommend it because it remains attractive. 
Deal fatigue (announced in December 2023) and Ibiden's derating will nudge shareholders to accept. At the last close and for an end-of-March payment, the gross/annualised spread was 0.7%/3.9%.


Shinko Electric (6967 JP): JIC’s Tender Offer on the Home Stretch

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Jensen in the White House did little to help NVDA on the spectre of further restrictions.</li>
<li>NEC +18% in one of its biggest moves ever on Friday as defense takes a bigger role.</li>
<li>Screen and Lasertec both reported earnings beats but its a mixed bag for both under the hood.</li>
</ul>


Jensen in the White House did little to help NVDA on the spectre of further restrictions.
NEC +18% in one of its biggest moves ever on Friday as defense takes a bigger role.
Screen and Lasertec both reported earnings beats but its a mixed bag for both under the hood.


Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

<ul>
<li>Lam Research and KLA carrying on from ASML beat earlier in the week: positive for JP SPE.</li>
<li>Intel trading better after hours with earnings not a horrible as feared may help JP suppliers.</li>
<li>IBM beat on its transition to services and AI offerings should help JP IT such as Fujitsu, as well as NEC and NRI who also reported yesterday.</li>
</ul>


Lam Research and KLA carrying on from ASML beat earlier in the week: positive for JP SPE.
Intel trading better after hours with earnings not a horrible as feared may help JP suppliers.
IBM beat on its transition to services and AI offerings should help JP IT such as Fujitsu, as well as NEC and NRI who also reported yesterday.


Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

<ul>
<li>Limited breadth of winners, even in the SOX, with numerous DeepSeek and capex questions outstanding.</li>
<li>Regardless expect JP SPE to be higher to start; watch Advantest into numbers today after its -19% 2-day drop.</li>
<li>IT/SaaS companies are worth a look here with AI R&amp;D costs now potentially much lower including Fujitsu and NEC.</li>
</ul>


Limited breadth of winners, even in the SOX, with numerous DeepSeek and capex questions outstanding.
Regardless expect JP SPE to be higher to start; watch Advantest into numbers today after its -19% 2-day drop.
IT/SaaS companies are worth a look here with AI R&amp;D costs now potentially much lower including Fujitsu and NEC.


Japan Morning Connection: US Tech and Semi Rebound Feel's like a Dead Cat Bounce

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>Quantum computing's outlook is like Schrödinger’s cat: a varying mix of potential and challenges, with each breakthrough or setback collapsing possibilities and probabilities into a new, uncertain reality.</li>
<li>
<a href="https://www.smartkarma.com/entities/alphabet-inc-cl-c" target="_blank" data-smartkarma-citation="entities:11369:1" rel="noopener">Alphabet (GOOG US)</a>'s  "quantum supremacy" milestone shows quantum computing's transformative potential, but unresolved challenges despite decades of effort risks confining it to niche applications, limiting its broader impact.  </li>
<li>Among pure-plays <a href="https://www.smartkarma.com/entities/ionq-inc" target="_blank" data-smartkarma-citation="entities:36838:1" rel="noopener">IonQ (IONQ US)</a> , <a href="https://www.smartkarma.com/entities/d-wave-quantum-inc" target="_blank" data-smartkarma-citation="entities:37745:1" rel="noopener">D-Wave Quantum (QBTS US)</a> , <a href="https://www.smartkarma.com/entities/rigetti-computing-inc" target="_blank" data-smartkarma-citation="entities:37755:1" rel="noopener">Rigetti Computing (RGTI US)</a> stand out. IonQ's focus on high-fidelity, cloud and practical applications positions it particularly well.</li>
</ul>


Quantum computing's outlook is like Schrödinger’s cat: a varying mix of potential and challenges, with each breakthrough or setback collapsing possibilities and probabilities into a new, uncertain reality.

Alphabet (GOOG US)'s  "quantum supremacy" milestone shows quantum computing's transformative potential, but unresolved challenges despite decades of effort risks confining it to niche applications, limiting its broader impact.  
Among pure-plays IonQ (IONQ US) , D-Wave Quantum (QBTS US) , Rigetti Computing (RGTI US) stand out. IonQ's focus on high-fidelity, cloud and practical applications positions it particularly well.


Quantum Computing – The Future That’s Loading… and Not Loading

Japan

Fujitsu Ltd manufactures semiconductor, computer, and communication equipment. The Company provides comprehensive information technology, network and telecommunication solutions, and Internet services.

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Fujitsu Ltd (6702 JP)

Shinko Electric (6967 JP): JIC’s Tender Offer on the Home Stretch

The precondition is satisfied, and the tender offer is from 18 February to 18 March (20 business days). Deal fatigue and the derating of Ibiden...

Arun George

Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

NVDA down as further tariff and export restrictions expected, NEC makes biggest move as defence comes into focus in JP, Screen and Lasertec beat...

Andrew Jackson

Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...

Andrew Jackson

Japan Morning Connection: US Tech and Semi Rebound Feel's like a Dead Cat Bounce

Opportunities to watch for higher JP SPE, keep an eye on Advantest after recent drop. IT/SaaS companies like Fujitsu and NEC worth looking at with...

Andrew Jackson

Quantum Computing – The Future That’s Loading… and Not Loading

Quantum computing is like Schrödinger’s cat: a varying mix of potential and challenges. Each breakthrough or setback takes possibilities and...

Pyari Menon

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shinko Electric (6967 JP): JIC’s Tender Offer on the Home Stretch

The precondition is satisfied, and the tender offer is from 18 February to 18 March (20 business days). Deal fatigue and the derating of Ibiden...

Arun George

Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

NVDA down as further tariff and export restrictions expected, NEC makes biggest move as defence comes into focus in JP, Screen and Lasertec beat...

Andrew Jackson

Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

​Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...

Andrew Jackson

Japan Morning Connection: US Tech and Semi Rebound Feel's like a Dead Cat Bounce

Opportunities to watch for higher JP SPE, keep an eye on Advantest after recent drop. IT/SaaS companies like Fujitsu and NEC worth looking at with...

Andrew Jackson

Quantum Computing – The Future That’s Loading… and Not Loading

Quantum computing is like Schrödinger’s cat: a varying mix of potential and challenges. Each breakthrough or setback takes possibilities and...

Pyari Menon

Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...